Press release
PEGylated Proteins Market Size, Share, Industry, Forecast and outlook (2024-2031)
DataM Intelligence
PEGylated Proteins Market Sees Robust Growth with 6.8% CAGR during 2022-2029 Forecast Period
The global PEGylated proteins market has witnessed substantial growth, boasting a Compound Annual Growth Rate (CAGR) of 6.8% during the forecast period from 2022 to 2029. PEGylation, a process involving the binding or alteration of biological molecules with polyethylene glycol, is instrumental in enhancing drug stability, solubility, and reducing immunogenicity.
Market Dynamics:
The growth of the PEGylated proteins market is propelled by increased research and development spending by pharmaceutical and biotechnology companies, a flourishing biologics sector, and a surge in lifestyle diseases. The adoption of protein-based drugs, particularly PEGylated protein-based drugs, has witnessed a significant rise, contributing to market expansion. Notably, the largest market share is expected to be held by the increasing adoption of PEGylated protein-based drugs, driven by improved stability and extended circulating half-life.
However, challenges in drug development, with a staggering 96% overall failure rate, including a 90% failure rate during clinical development, pose a hindrance to market growth. The repercussions of drug development failures are far-reaching, impacting pharmaceutical companies through site closures, job losses, and stretched research and development budgets.
Market Metrics:
Market CAGR: 6.8%
Segments Covered: By Product Type, By Protein Type, By End-User, and By Region
Report Insights Covered: Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other Key Insights.
Fastest Growing Region: Asia Pacific
Largest Market Share: North America
To Know more Insights Download Sample: https://www.datamintelligence.com/download-sample/pegylated-proteins-market
COVID-19 Impact Analysis:
Contrary to expectations, the PEGylated Proteins Market remained resilient during the COVID-19 pandemic. The demand for PEGylated proteins, categorized as necessities, remained unaffected. Research institutes, such as Mabwell Bioscience Co., Ltd., continued extensive research, with minimal impact observed.
Market Segment Analysis:
The colony-stimulating factors segment is anticipated to dominate, driven by its role in accelerating blood cell production and supporting the immune system during cancer treatment. The increasing global incidence of cancer underscores the demand for this segment, contributing to the overall growth of the PEGylated proteins market.
Geographical Analysis:
North America leads the global PEGylated proteins market, holding the largest market share. The region's dominance is attributed to key players' presence, a high prevalence of chronic diseases, established healthcare infrastructure, and growing awareness of advanced treatment options. The United States, with a significant patient pool, is a key contributor to North America's market share.
Competitive Landscape:
The global PEGylated proteins market exhibits moderate competitiveness, featuring both local and global players. Key contributors to market growth include Merck KGaA, Thermo Fisher Scientific Inc., NOF America Corporation, JenKem Technology USA Inc., Creative PEGworks, and Celares GmbH, among others. Major players are leveraging growth strategies such as product launches, acquisitions, and collaborations to further propel market expansion. For example, in August 2021, JenKem Technology played a pivotal role in large-scale GMP manufacture of PEG derivatives for Lipid Nanoparticles (LNPs) and related PEG intermediates.
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