Bioengineered Protein Drugs Market by Drug Type, Disease Condition, End Users & Forecast - 2025 | TMR

Bioengineered Protein Drugs Market - Snapshot

Bioengineering is the application of engineering technology and methods to the field of biology. Polymer of amino acids, proteins play a significant role in facilitating smooth functioning of the human body. With the utilization of genetic engineering procedure, bioengineered proteins are synthesized. These proteins are also known as recombinant protein, which is used in the treatment of many illnesses. Wide scope of application is likely to bolster the growth of the global bioengineered protein drugs market. Bioengineered protein drugs are utilized in the treatment of various chronic conditions such as

Diabetes
Asthma
Cancer
Blood disorders
Fertility disorders
Immunological disorders
Hormonal disorders
Bioengineered protein drugs are considered extremely efficient with much improved pharmacodynamic (PD) and Pharmacokinetic (PK) characteristics. These drugs come with better matching with biological processes and thus have minimum side effects and wider acceptance. This factor is likely to drive the growth of the global bioengineered protein drugs market in the years to come.

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Advancement in the Biopharmaceutical Field to Stoke Demand in the Market

The global bioengineered protein drugs market is also likely to be driven by the immense technological and research-based progress made in the biopharmaceuticals field. In addition, a rise in the prevalence of chronic diseases is estimated to drive the demand for bioengineered protein drugs.

The drugs fare better than small molecule drugs in terms of the time taken for receiving approval from FDA. Bioengineered protein drugs takes much less time, which is a significant factor in driving the market over the tenure of assessment. In accordance with the findings of world health organization (WHO), it is estimated that the number of people suffering from diabetes with rise to 36 million by 2030. However, complication is involved in the treatment of diseases utilizing bioengineered protein drugs is likely to restrain the growth of the global bioengineered protein drugs market. Furthermore, the rising cost of these drugs is predicted to come up as another factor hampering development of the market in near future.

Global Bioengineered Protein Drugs Market: Snapshot

Majorly fuelling the global bioengineered protein drugs market is the rising occurrence of infectious diseases, diabetes, cancer, etc. This is because bioengineered protein drugs are more effective and additionally have reduced or no side effects when compared with alternative therapies for cancer, diabetes, and other maladies. This has led to more healthcare physicians prescribing these drugs, thereby stoking demand in the market.

The prospects in the global market for bioengineered protein drugs also looks upbeat owing to increasing drugs in phase III of clinical trials and many companies pouring money into research and development of novel bioengineered proteins.

Posing a roadblock to the market, on the other hand, is the steep cost of manufacturing bioengineered protein drug, having shorter shelf life. The emergence of biosimilars is also posing a severe challenge to the growth in the market.

A report by Transparency Market Research predicts the global bioengineered protein drugs market to expand at a 7.4% CAGR from 2017 to 2024 to become worth US$336.9 bn by 2025 from US$177.7 bn in 2016.

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global bioengineered protein drugs market
Vaccines Slated to Grow at Maximum Pace due to Development of Bioengineered Prophylactic Vaccines

The global bioengineered protein drugs market can be classified into monoclonal antibodies, vaccines, and therapeutic protein based upon the type of product. The therapeutic protein segment, among them, accounts for a dominant share because of extensive activities in the therapeutic protein engineering and recombinant DNA technology products. In terms of growth rate, however, the vaccines segment is expected to outshine all other segments by clocking maximum CAGR between 2017 to 2025 because of increase in development of bioengineered prophylactic and therapeutics vaccines.

Rising Instances of Cancer Propels North America Market to Fore

From a geographical standpoint, North America leads the global bioengineered protein drugs market. In the years ahead, the region is slated is maintain its dominant position because of the rising occurrence of cancer and unveiling of innovative protein therapeutics for cancer. While loss of patents of blockbuster drugs such as Humira, Rituxan, Avastin, and Remicade, among others, are expected to deal a blow to the revenue in the market, launch of new drugs and approvals for new diagnostic tests, along with a growing geriatric population and unhealthy lifestyle will likely make up for it by inducing growth. As per the TMR report, the bioengineered protein drugs market in North America will likely register a CAGR of 7.2% from 2017 to 2025 to become worth US$161.05 bn by 2025.

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