Introduction to Current and Future of Protein Therapeutics
Increase in awareness towards protein therapeutics and investment in research, innovation, and drug development fuel the demand for protein therapeutics. The employment of novel protein therapeutics is highest in North America, owing to increase in adoption of these drugs, followed by Europe and Asia-Pacific.
Global Protein Therapeutics Market accounted for $140,109 million in 2016, and is anticipated to reach $217,591 million by 2023, registering a CAGR of 6.5% from 2017 to 2023. Therapeutic protein drugs are an important class of medicines, which are administered to treat an array of different diseases such as cancer, infectious diseases, and others. These drugs hold significant potential to improve human health.
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The demand for protein therapeutics has increased considerably, owing to increase in prevalence of chronic diseases and development of plasma-derived therapies. Furthermore, surge in awareness with respect to protein therapeutics among populace boosts the market growth. However, high costs associated with therapeutic proteins and stringent government regulations towards protein therapeutics restrict market growth. Conversely, adoption of protein therapeutics for novel indications and untapped potential of developing countries are anticipated to provide lucrative opportunities to the market players.
The protein therapeutics industry is segmented based product, application, and geography. Depending on product, the market is divided into monoclonal antibodies, insulin, fusion protein, erythropoietin, interferon, human growth hormone, and follicle stimulating hormone. The applications covered in this study include metabolic disorders, immunologic disorders, hematological disorders, cancer, hormonal disorders, genetic disorders, and others. Geographically, this market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Top key market players, such as Abbott Laboratories, Amgen Inc., Baxter International Inc., Eli Lilly and Company, F. Hoffmann-La Roche Ltd., Johnson & Johnson, Merck & Co., Inc., Novo Nordisk A/S, Pfizer Inc., and Sanofi. Other players (profiles not included in the report) in the value chain analysis include Biogen, Inc., CSL Behring, and Genentech, Inc.