Bioengineered Protein Drugs Market Size, Key Opportunities, Strategic Assessment Forecast To 2021

Precision Business Insights published a research report on “Bioengineered Protein Drugs Market: By Drug Type (Vaccines, Peptide hormones, Blood Products, Monoclonal antibodies, Recombinant protein drugs, Replacement proteins, Peptide antibiotics, Therapeutic enzymes, Cytokines), By Technology (Bioreactors and microbial cell fermentation, Genetically modified organisms, Fractionation, Pharming, Others), By Application (Diabetes, Heart diseases, Neurodegenerative diseases, Respiratory diseases, Infectious diseases, Congenital diseases, Others), By Drug delivery (Traditional methods, Novel Methods), and Geography - Global/Region/Country Forecast to 2027".

The application of engineering technology and approaches to the field of biology is known as bioengineering. Proteins are polymers of amino acids that play an important part in the human body's smooth functioning. Bioengineered proteins are created through the use of a genetic engineering technique. These proteins are also known as recombinant proteins, and they are utilized to treat a variety of diseases. The worldwide bioengineered protein medicines market is expected to increase due to its wide range of applications.

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These are only a few of the major drivers of the worldwide bioengineered protein medicine industry. Furthermore, the time required for FDA clearance and clinical development is shorter for bioengineered protein medications than for small molecule pharmaceuticals, which is a major driver driving the global bioengineered protein drug market. The worldwide market is growing due to significant advancements in biopharmaceuticals and technical advancements in drug delivery systems. Furthermore, the worldwide bioengineered protein medicines market is expected to develop due to an increase in the incidence of chronic diseases such as diabetes, asthma, and systemic disorders such as cancer. According to the World Health Organization, the global diabetes population will reach 365 million by 2030, positively impacting the rapid expansion of the global bioengineered protein therapy market through 2024. Furthermore, the complexities involved in treating diseases using bioengineered protein therapeutics, as well as the ever-increasing expense of the therapies, are projected to stifle worldwide market growth throughout the forecast period.

Global Bioengineered Protein Drugs Market is fragmented into type and disease condition. Based on type, the market is further classified as Therapeutic Proteins and Vaccines and Monoclonal Antibodies. Monoclonal Antibodies is further sub-fragmented in to Rituxan, Humira, Herceptin, Avastin, Remicade, Enbrel, Lucentis, and Synazis. The Therapeutic Proteins segment is divided into Cytokines, Hormones, Blood Factor, Thrombolytic and Enzyme Therapy. Among them, the therapeutic protein segment is likely to leads with highest share of Global Bioengineered Protein Drugs Market.

The market for bioengineered protein pharmaceuticals is dominated by North America. Because of the increased incidence of cancer and the development of novel protein therapies for cancer, the area is expected to retain its dominance in the coming years. While the loss of patents on blockbuster drugs like Humira, Rituxan, Avastin, and Remicade, among others, is expected to hurt the market's revenue, new drugs and diagnostic test approvals, as well as a growing geriatric population and an unhealthy lifestyle, are expected to compensate by inducing growth. Due to the sheer patent loss of blockbuster pharmaceuticals such as Humira, Avastin, and Lucentis, as well as the advent of biosimilars, Europe is likely to lag behind all other areas in terms of growth rate, albeit following North America in terms of size.

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There are some major players working in bioengineered protein drugs market, which include Abbott Laboratories (U.S) Amgen (U.S) KEDRION BIOPHARMA (U.S) Merck & Co., Inc. (U.S) Allergan (Ireland) Eli Lilly and Company (U.S) Johnson & Johnson (U.S) Panacea Biotec (India) GlaxoSmithKline plc (U.K) Hoffmann-La Roche (Switzerland)

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