Press release
Bioengineered Protein Drugs Market: Growth Trends 2023-2030
Bioengineered Protein Drugs Market
Read the Market Summary Here: https://www.tritonmarketresearch.com/reports/bioengineered-protein-drugs-market
Bioengineered protein drugs are developed to regulate protein transport while treating various conditions, including cancer, solid tumors, diabetes, and infertility.
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As per Triton's report, the global bioengineered protein drugs market is set to register revenue growth at a CAGR of 7.7% during the forecasted period 2023-2030.
Factors such as the rising aging population and the high prevalence of chronic conditions fuel the growth of the bioengineered protein drugs market. As per the World Population Prospects 2019, one in six people globally will be over 65 by 2050. This rise increases the burden of diseases in severity and magnitude. As a result, the growing need for advanced healthcare services increases the production of bioengineered protein drugs in the pharmaceutical industry.
On the contrary, elevated costs associated with bioengineered protein drugs and complications arising during procedures may negatively impact the reviewed market's expansion.
The studied market is segmented into disease and type. The former segment includes autoimmune diseases and other immunodeficiency disorders, infectious diseases, solid tumors, diabetes, blood disorders, growth hormone disorders, enzyme disorders, and infertility, and other diseases. Based on type, it is divided into monoclonal antibodies, blood factors and peptide antibiotics, fusion proteins, vaccines (excluding COVID-19), therapeutic enzymes, peptide hormones, and cytokines.
Globally, the Asia-Pacific is estimated to witness the fastest growth over the forecast period. With the rising prevalence of chronic conditions and healthcare expenditures, the region's demand for effective therapies has grown. Along with this, the expansion of the biotherapeutics R&D landscape has influenced emerging biopharma companies to increase R&D and manufacturing of bioengineered drug medications. The proactive government policies to boost research and manufacturing of biotherapeutics across China, India, and Japan are further expected to open new avenues for the studied market.
The prominent companies in the bioengineered protein drugs market consist of Baxter International Inc, Amgen Inc, Bayer Healthcare Pharmaceuticals LLC, Merc & Co Inc, GlaxoSmithKline, Eli Lilly and Company, Johnson & Johnson, Abbott Laboratories, F Hoffmann-La Roche, and Fresenius Kabi.
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Question & Answer: Global Bioengineered Protein Drugs Market
Question 1: What aspects fuel the bioengineered protein drugs market's growth?
Answer: Factors such as the rising aging population and the high prevalence of chronic conditions fuel the growth of the bioengineered protein drugs market. As per the World Population Prospects 2019, one in six people globally will be over 65 by 2050. This rise increases the burden of diseases in severity and magnitude. As a result, the growing need for advanced healthcare services increases the production of bioengineered protein drugs in the pharmaceutical industry.
Question 2: What factors may negatively impact the bioengineered protein drugs market's expansion?
Answer: Elevated costs associated with bioengineered protein drugs and complications arising during procedures may negatively impact the reviewed market's expansion.
Question 3: Which region is estimated to witness the fastest growth over the forecast period?
Answer: Globally, the Asia-Pacific is estimated to witness the fastest growth over the forecast period. With the rising prevalence of chronic conditions and healthcare expenditures, the region's demand for effective therapies has grown. Along with this, the expansion of the biotherapeutics R&D landscape has influenced emerging biopharma companies to increase R&D and manufacturing of bioengineered drug medications. The proactive government policies to boost research and manufacturing of biotherapeutics across China, India, and Japan are further expected to open new avenues for the studied market.
Question 4: Which are the prominent companies in the bioengineered protein drugs market?
Answer: The prominent companies in the bioengineered protein drugs market consist of Baxter International Inc, Amgen Inc, Bayer Healthcare Pharmaceuticals LLC, Merc & Co Inc, GlaxoSmithKline, Eli Lilly and Company, Johnson & Johnson, Abbott Laboratories, F Hoffmann-La Roche, and Fresenius Kabi.
Related Reports:
Global Whey Protein Ingredients Market -
https://www.tritonmarketresearch.com/reports/whey-protein-ingredients-market
The growing awareness about whey protein, coupled with rising demand for health products, drive the studied market's growth. Additionally, demand for high-quality protein supplements and the surge in packaged and specialty food products generate opportunities for the whey protein ingredients market.
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