Protein therapeutics: Key market research findings
- Increase use of targeted therapies
- High demand for monoclonal antibodies
Technavio has added a new market research report on the global protein therapeutics market, which is expected to grow at a CAGR of around 8% between 2016 and 2020. Factors that can be attributed to the growth of this market are the increased demand for monoclonal antibodies, increasing aging population, stringent approval guidelines for biosimilars, reimbursement support for drugs, and the promising drug pipeline for protein therapeutics are expected to drive the market growth. The Americas dominate the global market for protein therapeutics, accounting for around 47% of the total market share. Higher incidences of infectious diseases, various types of cancers, and rare and metabolic disorders in the US and Canada and in the Latin America region have contributed to the growth of protein therapeutics in the Americas.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“The market is witnessing the emergence of targeted therapies for the treatment of cancer and viral infections. Targeted therapies are preferred as they cause lesser side effects than conventional non-targeted therapies. Targeting multiple pathways reduces the risk of developing treatment resistant disorders in cancer. Hospitals and clinics are increasingly adopting these therapies owing to the enhanced safety and efficacy profile of these therapeutics,” says Imran Mushtaq, Lead Analyst, Healthcare & Lifesciences, Technavio Research.
Monoclonal antibodies represent a major segment of the global protein therapeutics market. These antibodies have a high affinity toward specific disease cells and areas that need to be treated. The monoclonal antibodies have found extensive application in radio immunotherapy and antibody-directed enzyme prodrug therapy. These antibodies are also used in the formulation of biopharmaceutical drugs for the treatment of cancer, rheumatoid arthritis, multiple sclerosis, and UC.
The leading vendors in the global protein therapeutics market include AbbVie, Amgen, F. Hoffmann-La Roche, Johnson & Johnson, Merck, and Novo Nordisk. The market is highly competitive with the presence of numerous small and large vendors. New players are also entering the market because of the growth opportunities; however, they are expected to face high limitations due to the presence of highly stringent guidelines for biologics manufacturing.
A more detailed analysis is available in the Technavio report, Global Protein Therapeutics Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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