Bioengineered Protein Drugs Market to Expand at a 7.4% CAGR from 2017 to 2024

As per a report by Transparency Market Research, the global bioengineered protein drugs market will rise at a 7.4% CAGR during the period between 2017 and 2024 to become worth US$336.9 bn by 2025 from US$177.7 bn in 2016. Protein engineering entails building protein through modification of amino acid. Bio engineered proteins drugs are synthesized through genetic engineering. They are used to treat injury, cancers, and also in organ transplants, among others. They are also referred to as Recombinant Protein drugs and are used for modification of immune reactions, through pathophysiological pathways at multiple levels of cells adhesion and activation. At the forefront of driving the global bioengineered protein drug market is the increasing prevalence of infectious diseases, diabetes, cancer, etc. “Bioengineered protein drugs have proven to be more effective and have reduced or no side effects when compared with alternative therapies for cancer, diabetes, and other maladies. This has led to more healthcare physicians prescribing these drugs, thereby catalyzing growth in the market,” explains the lead analyst of the TMR report.

Browse Report Details@ https://www.transparencymarketresearch.com/bioengineered-proteins-drugs-market.html

From a geographical standpoint, North America leads the global bioengineered protein drugs market. In the years ahead, the region is slated is maintain its dominant position because of the rising occurrence of cancer and unveiling of innovative protein therapeutics for cancer. While loss of patents of blockbuster drugs such as Humira, Rituxan, Avastin, and Remicade, among others, are expected to deal a blow to the revenue in the market, launch of new drugs and approvals for new diagnostic tests, along with a growing geriatric population and unhealthy lifestyle will likely make up for it by inducing growth. As per the TMR report, the bioengineered protein drugs market in North America will likely register a CAGR of 7.2% from 2017 to 2025 to become worth US$161.05 bn by 2025.

Some of the prominent participants in the global bioengineered protein drugs market are Abbott Laboratories, F. Hoffmann-La Roche Ltd, Amgen, Inc., Bayer AG, Merck & Co., Inc., Dr. Reddy’s Laboratories Ltd., Biocon Ltd., Eli Lilly and Company, Sanofi, Fresenius Kabi, GlaxoSmithKline plc, Johnson & Johnson, Novartis AG, Panacea Biotec, ProBioGen AG, and Reliance Life Sciences Pvt. Ltd.

Report Overview, with TOC - https://www.transparencymarketresearch.com/report-toc/8188

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