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Therapeutic Proteins Market Report 2023-2032: Latest Market Trends, Demand And Analysis
Therapeutic Proteins Market
The Business Research Company's Therapeutic Proteins Global Market Report 2023 identifies Increasing the number of biosimilar drugs as the major driver for the Therapeutic Proteins market's growth in the forecast period. The patent expiration of therapeutic proteins such as monoclonal antibodies allows biosimilars to enter the market.For instance, in October 2022, Amneal Pharmaceuticals, Inc., a US-based generics and specialty pharmaceutical company, launched ALYMSYS® (bevacizumab-maly) in the United States.
The global therapeutic proteins market size grew from $112.17 billion in 2022 to $125.74 billion in 2023 at a compound annual growth rate (CAGR) of 12.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global therapeutic proteins is expected to grow from $200.43 billion in 2027 at a CAGR of 12.4%.
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Major competitors in the Therapeutic Proteins market are Abbott Laboratories, Amgen Inc., Baxter International Inc., Eli Lilly and Company, F. Hoffmann-La Roche Ltd., Pfizer Inc., Johnson & Johnson.
A key trend in the Therapeutic Proteins market includes technological advancements. Therapeutic proteins cannot be synthesised chemically, they need to be produced by genetic engineering and recombinant DNA technology in living cells or organisms. Protein-engineering platform technologies such as glycoengineering, pegylation, Fc-fusion, albumin fusion, and albumin drug conjugation help to increase the production yield, product purity, circulating half-life, targeting, and functionality of therapeutic proteins drugs. Belimumab, ipilimumab, taliglucerase alfa, albiglutide, and recombinant human coagulation factor IX are some therapeutic proteins drugs developed using protein engineering technologies and approved by the FDA in the past five years.
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The Therapeutic Proteins market is segmented -
• By Product Type: Insulin, Fusion Protein, Erythropoietin, Interferon, Human Growth Hormone, Follicle Stimulating Hormone
• By Application: Metabolic Disorders, Immunologic Disorders, Hematological Disorders, Cancer, Hormonal Disorders, Genetic Disorders, Other Applications
• By Function: Enzymatic and Regulatory Activity, Special Targeting Activity, Vaccines, Protein Diagnostics
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Therapeutic Proteins market.
The Business Research Company's "Global Therapeutic Proteins Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Therapeutic Proteins Market Include:
1. Executive Summary
2. Therapeutic Proteins Market Characteristics
3. Therapeutic Proteins Market Trends And Strategies
4. Therapeutic Proteins Market - Macro Economic Scenario
5. Therapeutic Proteins Market Size And Growth
……………………………………………….
26. Africa Therapeutic Proteins Market
27. Therapeutic Proteins Market Competitive Landscape And Company Profiles
29. Key Mergers And Acquisitions In The Therapeutic Proteins Market
30. Therapeutic Proteins Market Future Outlook and Potential Analysis
31. Appendix
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