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Protein Inhibitors Market Trends, Growth & Competitive Analysis 2024-2033
Protein Inhibitors Market Trends
According to The Business Research Company's, The protein inhibitors market size has grown strongly in recent years. It will grow from $80.99 billion in 2023 to $88.74 billion in 2024 at a compound annual growth rate (CAGR) of 9.6%. The growth in the historic period can be attributed to drug discovery, drug development, cancer treatment, regulatory approvals.
The protein inhibitors market size is expected to see strongly grown in the next few years. It will grow to $125.26 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%. The growth in the forecast period can be attributed to precision medicine, immunotherapy, drug combinations, aging population. Major trends in the forecast period include data sharing and collaboration, sustainability and esg, personalized medicine, adaptive clinical trials.
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Market Drivers and Trends:
The increasing prevalence of chronic diseases is predicted to contribute to the growth of the protein inhibitors market over the forecast period. Chronic diseases such as cancer, cardiovascular diseases, and autoimmune diseases are becoming more prevalent. For instance, in May 2022, according to the World Health Organization, chronic diseases are expected to become the seventh leading cause of death globally by the end of 2030.In the USA, the number reached 157 million in 2020, with 87 million people having multiple conditions. Protein inhibitors are used for the treatment of these diseases attributing to fewer adverse effects and higher efficacy. Therefore, an increasing number of people with chronic diseases are anticipated to propel the demand for growth of the protein inhibitors market.
Companies in the protein inhibitors market are increasingly investing in various strategic initiatives such as partnerships and collaborations to develop new drugs to meet the market demand. Strategic collaborations and partnership agreements help companies to expand their existing product portfolio and geographical presence. For instance, in February 2021, Eli Lilly and Company, a USA-based pharmaceutical company, and Rigel Pharmaceuticals, Inc., a USA-based biotechnology company, announced a global exclusive license agreement and strategic collaboration to co-develop and commercialize Rigel's R552, a receptor-interacting serine/threonine-protein kinase 1 (RIPK1) inhibitor, for all indications, including autoimmune and inflammatory diseases.
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Major Key Players of the Market:
Bayer AG; AstraZeneca plc; F. Hoffmann-La Roche Ltd.; Teva Pharmaceutical Industries Ltd.; Apotex Inc.; Novartis International AG; GlaxoSmithKline plc; Pfizer Inc.; Boehringer Ingelheim International GmbH; Abbott Laboratories; Amgen Inc.; Baxter International Inc.; Merck & Co. Inc.; Interprotein Corporation; AbbVie Inc.; Bristol Myers Squibb Company; Galapagos NV; Priovant Therapeutics Inc.; Tempus Labs Inc.; ReCode Therapeutics Inc.; Satellite Bio Inc.; Ambagon Therapeutics Inc.; Biogen Inc.; Eli Lilly and Company; Gilead Sciences Inc.; Johnson & Johnson; Regeneron Pharmaceuticals Inc.; Sanofi S.A.; Takeda Pharmaceutical Company Limited; Vertex Pharmaceuticals Inc.; Lonza Group AG; Catalent Inc.; Thermo Fisher Scientific Inc.; Charles River Laboratories International Inc.; WuXi AppTec Co. Ltd.
Protein Inhibitors Market 2024 Key Insights:
• The protein inhibitors market size will grow to $125.26 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%.
• Growth Of The Protein Inhibitors Market Due To Increasing Prevalence Of Chronic Diseases
• Strategic Initiatives And Collaboration
• North America was the largest region in the protein inhibitors market in 2023
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