Global Bioengineered Protein Drugs Market to Reach $521.3 Billion by 2027: Increasing Prevalence of Chronic Diseases Drives Growth – ResearchAndMarkets.comMarch 24, 2023
DUBLIN–(BUSINESS WIRE)–The “Global Markets for Bioengineered Protein Drugs” report has been added to ResearchAndMarkets.com’s offering.
The global bioengineered protein drugs market was estimated to have been worth $327.6 billion in 2021. Between 2022 and 2027, the bioengineered protein drugs market is predicted to grow at a compound annual growth rate (CAGR) of 8%, leading to a market value of $521.3 billion in 2027.
An aging population with a myriad of chronic diseases, the need for more effective and targeted therapeutics, and continuous innovation in bioengineered protein drugs are driving the bioengineered protein drugs market.
Bioengineered protein drugs are widely used due to their high specificity, enhanced efficacy, affinity, solubility, and low toxicity. Advances in protein synthesis have increased the complexity of bioengineered proteins being produced for therapeutic purposes.
Continued development in protein drug manufacturing technologies, growing incidence of chronic diseases, the larger elderly population, improved protein-based drug efficacy, and advancements in drug delivery systems will boost the bioengineered protein drugs market. Innovations in protein drugs are accelerating quickly.
For example, in the last two years (2021 and 2022), 43 of 112, or 38.4% of all novel drug and biological product approvals, were for bioengineered protein drugs. The presence of high unmet needs and the vast potential for innovation offers tremendous growth potential for the market.
The cost of developing and producing bioengineered protein drugs is dramatically higher than for conventional (small molecule) medications and involves lengthy complex manufacturing processes and stringent regulatory requirements. The market is less susceptible to generic competition than small molecule drugs.
Large molecule or protein drugs do not have the same kind of generic competition as small molecule drugs and have a longer shelf-life in terms of patent protection. Over the past three decades, bioengineered protein drugs have revolutionized the treatment of infectious diseases, cancer, and chronic immunological diseases.
Pharmaceutical manufacturers are focused on developing and manufacturing novel bioengineered protein drugs for cancer, autoimmune disorders, and other life-threatening disease treatments. This is evidenced by the growing competition in the bioengineered protein drugs market.
This report aims to provide a comprehensive study of the global market for bioengineered protein drugs, both in terms of quantitative and qualitative data, to help readers develop business/growth strategies, assess the market landscape, analyze their position in the current marketplace and make informed business decisions regarding bioengineered protein drugs. Segmentation is based on the drug type, disease type, and region.
Industry growth drivers, restraints, trends, and opportunities in bioengineered protein drugs are also discussed in detail. The report also provides information on the bioengineered protein drug market competitive landscape, features detailed company profiles, and discusses the impact of COVID-19 on the market.
The report includes:
- 28 data tables and 23 additional tables
- An up-to-date overview and analysis of the global markets for bioengineered protein drugs
- Analyses of the global market trends, with historic market revenue data (sales figures) from 2019-2021, estimates for 2022, forecasts for 2023, and projections of compound annual growth rates (CAGRs) through 2027
- Highlights of the emerging technology trends, opportunities and gaps estimating current and future demand for bioengineered protein drugs market, and major regions and countries involved in market developments
- Estimation of the actual market size and revenue forecast for global bioengineered protein drugs market in USD million terms, and corresponding market share analysis by drug type, disease type, and region
- In-depth information (facts and figures) concerning the major factors influencing the progress of this market (benefits, and industry-specific challenges) with respect to specific growth trends, upcoming technologies, future prospects, and contributions to the overall biopharmaceutical industry
- Discussion of the regulatory aspects and standards for bioengineered protein therapeutics, newly approved products, underlying clinical trials for all phases and list of vaccines, and the COVID-19 impact on the progress of this market
- Insight into the recent industry structure, competitive aspects of each product segment, increasing investment on R&D activities to develop new and improved therapies, market development strategies, and company value share analysis
- Identification of the major companies involved in the production and modification of protein drugs, and analysis of the company competitive landscape based on their recent developments, financial performance, and segmental revenues
- Growing and Aging Population
- Increasing Prevalence of Chronic Diseases
- Advancements in Manufacturing Technologies
- New Product Launches and Label Expansions
- Premium Pricing
- Collaborations and Licensing Agreements
- Evolving Regulatory Scenario
- Accelerating Biosimilars Market
- Abbvie Inc.
- Adma Biologics Inc.
- Amgen Inc.
- Astrazeneca PLC
- Bayer Pharmaceuticals
- Biontech SE
- Bristol-Myers Squibb
- CSL Ltd.
- Eli Lilly and Co.
- F. Hoffmann-La Roche AG
- GlaxoSmithKline PLC
- Grifols SA
- Johnson & Johnson
- Merck & Co. Inc.
- Novartis AG
- Novo Nordisk A/S
- Octapharma AG
- Pfizer Inc.
- Regeneron Pharmaceuticals Inc.
- Takeda Pharmaceutical Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/c0mmsf
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