Protein Therapeutics Market Expected To Maintain Trend during the Study Period, Due To Rise in Prevalence of Diabetes Globally
Therapeutic proteins are an important class of drugs that provide services to patients in need of new treatments. Approved recombinant protein therapeutics have been developed to treat a variety of clinical signs, including cancer, genetic disorders, infectious diseases and metabolic disorders.
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Key factors driving the growth of the global protein therapeutics market include the introduction and adoption of new plasma induction therapies, the proliferation of chronic and life-threatening diseases, and public awareness of the high efficiency of protein therapeutics. However, high-cost protein therapy and complex reimbursement scenarios hinder market growth. Conversely, increased protein therapeutics and new indications for untapped emerging markets are expected to provide manufacturers with a favorable opportunity in this industry.
The report provides extensive competitive analysis and profiles of 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.
Other players (profiles not included in the report) in the value chain analysis include, Biogen, Inc., CSL Behring, and Genentech, Inc.
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The Metabolic Disorders Application program generated $ 27.837 billion in sales in 2016 and is expected to continue in the future. This is due to the need for quality medicines and multipurpose therapies for the treatment of disease, especially diabetes. Cancer coverage is projected to grow at the highest CAGR of 8.2% from 2017 to 2023.
Key Findings of the Protein Therapeutics Market:
• The monoclonal antibody segment is anticipated to grow at the highest CAGR from 2017 to 2023.
• The cancer application segment is expected to witness the highest growth rate during the forecast period.
• Metabolic disease application segment is anticipated to occupy the largest share in the protein therapeutics market.
• North America dominated the global protein therapeutics market, and is projected to grow at a CAGR of 6.1%.
North America held the highest market share of $72,899 million in 2016, owing to high prevalence rate of cancer and other chronic diseases, owing to rise in adoption of these drugs and increase in awareness about protein therapeutics.
Asia-Pacific is expected to grow at the highest CAGR of 7.6% during the forecast period, owing to rapid industrialization in the area, increase in disposable income, and upsurge in government initiatives to modernize healthcare infrastructure.
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