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PEGylated Proteins Market Research Report 2024-2033: Key Drivers, Insights, Outlook, and Overview
PEGylated Proteins Market Research
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According to The Business Research Company's, The PEGylated proteins market size has grown rapidly in recent years. It will grow from $1.29 billion in 2023 to $1.47 billion in 2024 at a compound annual growth rate (CAGR) of 13.7%. The growth in the historic period can be attributed to improved therapeutic efficacy, a growing aging population, demand for long-acting formulations, enhanced drug safety profiles, and expanding applications including targeted drug delivery systems.
The PEGylated proteins market size is expected to see rapid growth in the next few years. It will grow to $2.47 billion in 2028 at a compound annual growth rate (CAGR) of 13.8%. The growth in the forecast period can be attributed to increasing investment in rare diseases, rapid growth of the biopharmaceutical industry, precision medicine tailoring, increasing competition from biosimilar versions of biologic drugs, and adoption of innovative market access strategies. Major trends in the forecast period include the integration of digital health technologies, next-generation pegylation technologies, customized formulations for precision medicine, a focus on combination therapies, and a shift towards patient-centric healthcare models.
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Market Drivers and Trends:
The rising interest in festive season gifting is expected to propel the growth of the personalized gift market going forward. Festive season gifting involves the exchange of thoughtful presents during holidays or special occasions. The festive season gifting can be attributed to heightened consumer sentiment, increased disposable incomes, and the growing trend towards personalized and meaningful gift exchanges. Personalized gifts are favored during the festive season because they evoke sentimental value and create lasting memories, aligning with the spirit of celebration and goodwill that characterizes holiday gifting traditions. For instance, in October 2023, according to a survey of 8,103 adult consumers published by the National Retail Federation, a US-based retail trade association, winter holiday celebrants expect to spend an average of $875 on seasonal items, $42 more than in 2022, with $620 reserved for gifts. Moreover, nearly 23% plan to give experiential gifts, up from 19% in 2021. Therefore, rising interest in festive season gifting will drive the growth of the personalized gift market.
Major companies operating in the PEGylated protein market are developing innovative products, such as PEGylation reagents, to gain a competitive edge in the market. PEGylation reagents refer to chemical compounds that attach polyethylene glycol (PEG) chains to biomolecules, altering their properties for various biomedical applications. For instance, in May 2023, Creative Enzymes, a US-based supplier of food additives and enzymes, launched DSPE-PEG-Maleimide for targeted drug delivery. DSPE-PEG-Maleimide (DSPE-PEG-MAL) is a linear heterobifunctional PEGylation reagent containing DSPE phospholipids and maleimide. It is a useful self-assembly reagent that can be used to prepare PEGylated liposomes or micelles, and it also provides thiol or cysteine reactive maleimide groups. It is often used in targeted drug delivery.
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• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
Merck & Co. Inc., Bayer AG, Bristol Myers Squibb Company, AstraZeneca PLC, Roche Holding AG, Gilead Sciences Inc., Novo Nordisk A/S, Evonik Industries AG, Viatris Inc., Regeneron Pharmaceuticals Inc., Biogen Inc., Vertex Pharmaceuticals Incorporated, Lonza Group Ltd., Jazz Pharmaceuticals plc, Ipsen Pharma, Kyowa Kirin Co. Ltd., WuXi Biologics, BioMarin Pharmaceutical Inc., Ligand Pharmaceuticals Incorporated, Zydus Cadila, Enzon Pharmaceuticals Inc.
PEGylated Proteins Market 2024 Key Insights:
• The PEGylated proteins market size is expected to see rapid growth in the next few years. It will grow to $2.47 billion in 2028 at a compound annual growth rate (CAGR) of 13.8%.
• Rising Prevalence Of Lifestyle Diseases Is Driving Growth Of The PEGylated Proteins Market
• Developments In Drug Delivery Mechanisms For Driving Biomedical Innovation
• North America was the largest region in the PEGylated Proteins market in 2023
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