Protein Therapeutics Market Expected to Reach $566.66 Billion by 2030 | CAGR of 7.1%

According to a new report published by Allied Market Research, titled, "protein therapeutics market by product and application: global opportunity analysis and industry forecast, 2021–2030," the global protein therapeutics market size was valued at $283.64 Billion in 2020, and is projected to reach $566.66 Billion by 2030, registering a CAGR of 7.1% during the forecast period.

Therapeutic proteins are an important class of drugs that serve patients in need of novel therapies. They are engineered in laboratories for pharmaceutical use, such as noncovalent binders, proteins that affect covalent bonds (almost all enzymes), and albumin. Therapeutic proteins are extremely effective in vivo and have revolutionized disease treatment. Therapeutic protein products are useful in treatment of a wide range of indications, including cancer, genetic disorders, infectious diseases, and metabolic disorders. These proteins have the potential to reduce morbidity, slow disease progression, and/or replace essential proteins that a patient does not produce endogenously.

Growth of the protein therapeutics market is majorly driven by rise in prevalence of chronic diseases, increase in geriatric population, development of plasma derived therapies, increasing awareness for protein-based therapeutics, and surge in strategic developments among key players of the market.

Furthermore, according to the World Health Organization (WHO), cancer is a leading cause of death worldwide, and approximately 70% of deaths from cancer occur in low- and middle-income countries. By 2040, the number of new cancer cases per year is expected to rise to 29.5 million and the number of cancer-related deaths is expected to rise to 16.4 million. Thus, rise in prevalence of cancer is anticipated to drive the protein therapeutics market required for drug efficacy and safety.

Moreover, in January 2021, Merck & Co., Inc., and Neoleukin Therapeutics, Inc., announced a clinical trial collaboration and supply agreement with Merck for evaluation of safety and efficacy of Neoleukin’s NL-201, a de novo protein, which is designed to mimic the therapeutic activity of natural cytokines IL-2 and IL-15, in combination with Merck’s anti-PD-1 therapy Keytruda (pembrolizumab) in an ongoing Phase 1 trial. Thus, such collaborations among key players is expected to further drive the market.

However, high development & manufacturing cost, high treatment costs per patient, stringent government regulations, and complex reimbursement scenario are expected to impede the protein therapeutics market growth. Conversely, high market potential in the untapped emerging economies, rise in various product launches, partnerships, and collaborations among governments & key players, and development of pipeline products are expected to provide many opportunities for the market growth during the forecast period.

By product, the market is segmented into monoclonal antibodies, insulin, fusion protein, erythropoietin, interferon, human growth hormone, and follicle stimulating hormone. The monoclonal antibodies segment generated maximum revenue in 2020, accounting for $136.9 billion. The fusion protein segment is expected to witness highest CAGR of 9.5% during the forecast period.

On the basis of application, the market is segmented into metabolic disorders, immunologic disorders, hematological disorders, cancer, hormonal disorders, genetic disorders, and others. The metabolic disorders segment generated maximum revenue in 2020, accounting $58.05 billion. The cancer segment is expected to witness highest CAGR of 9.1% during the forecast period.

North America accounted for a majority of the global protein therapeutics market share in 2020, and is anticipated to remain dominant during the forecast period. This is attributed to increase in prevalence of chronic diseases, adoption of technologically advanced treatments, presence of key players, and rise in healthcare expenditure in the region. However, Asia-Pacific is anticipated to witness notable growth, owing to increase in R & D activities, increase in disposable income, and improvement in patient awareness toward protein therapeutics.

Key Findings of the Study

• By product, the monoclonal antibodies segment was the highest contributor to the protein therapeutics market in 2020.
• On the basis of application, the metabolic disorders segment was the highest contributor to the protein therapeutics market in 2020.
• Region wise, North America garnered the largest revenue share in 2020, whereas Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.