Patients with a severe form of diabetes in which pancreatic beta cells produce insufficient, or even no insulin have must inject themselves regularly with artificial insulin to survive. Insulin therapy, which celebrated its 100th anniversary in 2021, has probably saved the lives of hundreds of millions of people with either type 1 diabetes (T1D) or with severe forms of type 2 diabetes (T2D). However, insulin therapy is not without risks if the doses are too high or too low, and in the long term, it can also lead to serious metabolic and cardiovascular problems, and even directly be responsible for some potentially fatal conditions.
The global protein therapeutics industry accounted for $283.64 billion in 2020, and is expected to reach $566.66 billion by 2030, growing at a CAGR of 7.1% from 2021 to 2030.
Major determinants of the market growth
Surge in the prevalence of chronic diseases and increase in proteomics research have boosted the growth of the global protein therapeutics market. However, high production costs required for developing and manufacturing protein-based therapeutics hinder the market growth. On the contrary, surge in healthcare expenditure and increase in geriatric populations would open new opportunities for the market players in the future.
Rise in proteomics research and development of novel methods opened up new avenues for protein therapeutics. Market players have adopted different strategies to advance the research activities about protein therapeutics by determining the existing issues. Collaboration is one of the vital strategies adopted by them to combine expertise of both companies and finding ways to improve outcomes for patients. In addition, researchers across different universities are coming up with novel methods to develop protein-based therapeutics and drug delivery systems. The discovery of novel methods and the demand for advanced development techniques will increase in the coming years.
By region, the market across North America dominated the market in 2020, holding nearly half of the market, due to increase in chronic diseases, rapid adoption of advanced technologies, and presence of key players in the region. However, the market across Asia-Pacific is expected to register the highest CAGR of 8.7% during the forecast period, owing to rapidly growing geriatric population, surge in public-private investment, and increase in number of initiatives for healthcare awareness.
Collaboration is one of the major strategies adopted by market players to combine capabilities and develop advanced products by addressing the areas in need. Blueprint Medicines Corporation joined hands with Proteovant Therapeutics for development of advanced targeted protein degrader therapies. The targeted protein degrader utilizes the natural protein system of the body and offers a potential to develop new medicine for various diseases.
0 Comments