“Therapeutic protein drugs are an important class of medicines, which are used to treat different diseases such as cancer, infectious diseases, and others. Protein therapy delivers protein to the body in specific amounts to help repair illness and treat pain or remake structures. The global protein therapeutics market will reach 240.6 billion USD by 2025 from 147.5 billion USD in 2018 at a CAGR of 7.24% during the period.
Growth by Region
North America held the highest market share owing to high prevalence rate of cancer and other chronic diseases, rise in adoption of therapeutic protein drugs and increase in awareness of protein therapeutics. Asia Pacific will grow at higher rate due to rapid industrialization, increase in disposable income and government investments in healthcare infrastructure.
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Drivers vs Constraints
Rise in number of chronic diseases such as cancer, cardiovascular conditions, and diabetes is key factor for the growth of the market. Increase in awareness of consumers about the protein therapeutics is also driving the growth of the market. However, high cost of protein therapeutics and high amount of funds required for research and development are restraining the market growth.
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Industry Trends and Updates
Therapure Biopharma Inc. has launched its plasma products and technology division as Evolve Biologics, an innovative developer of plasma-derived therapeutics, led by an experienced senior management team.