Triton Market Research presents the Global Bioengineered Protein Drugs Market report sectioned by Type (Blood Factors and Peptide Antibiotics, Monoclonal Antibodies, Fusion Proteins, Therapeutic Enzymes, Peptide Hormones, Vaccines (Excluding COVID-19), Cytokines), Disease (Infectious Diseases, Autoimmune Diseases and Other Immunodeficiency Disorders, Solid Tumors, Growth Hormone Disorders, Enzyme Disorders, and Infertility, Diabetes, Blood Disorders, Other Diseases), and Regional Outlook (Asia-Pacific, Latin America, North America, Middle East and Africa, Europe).
The report further includes the Market Summary, Industry Outlook, Impact of COVID-19, Key Insights, Porter’s Five Forces Analysis, Market Attractiveness Index, Vendor Scorecard, Regulatory Framework, Key Market Strategies, Drivers, Challenges, Opportunities, Competitive Landscape, Research Methodology & Scope, Global Market Size, Forecasts & Analysis (2023-2030).
Based on Triton’s report, the global bioengineered protein drugs market is expected to advance with a CAGR of 7.7% during the forecast period 2023-2030.
Proteins are essential in offering structural support to the body, along with preventing diseases. Bioengineered proteins are produced via a genetic modification to regulate protein transport and treat injuries and other diseases.
The advancements in biotechnology and protein engineering are expected to open new avenues for the studied market. In recent years, the advent of recombinant DNA technology has enabled manufacturers to develop large quantities of bioengineered protein drugs. For instance, blood products, earlier extracted from human plasma, are manufactured using DNA technology. Moreover, this technology helps elevate the functionality and production capacity of the product. Thus, such developments are expected to increase their adoption over the forecast period.
However, the market’s growth is restrained mainly owing to the high costs associated with these drugs’ development and complications during treatments.
North America leads the bioengineered protein drugs market. The region’s robust growth is mainly owing to well-developed diagnosis and treatment facilities. Moreover, the rise in chronic diseases and growth in the elderly population base adds to the demand for bioengineered protein medications. Another development is the adoption of novel drugs produced using advanced technologies that fuel the adoption of these drugs. Hence, the above-mentioned factors propel the North American market on a growth path.
The leading companies in the bioengineered protein drugs market include Abbott Laboratories, Amgen Inc, Merc & Co Inc, Eli Lilly and Company, Bayer Healthcare Pharmaceuticals LLC, Johnson & Johnson, Baxter International Inc, F Hoffmann-La Roche, Fresenius Kabi, and GlaxoSmithKline.
Given the vast size of the bioengineered protein
drugs market, almost all prominent companies have their presence or are
developing therapies to gain a competitive edge. This indicates the competition
level to be high and significantly affected by new product launches. Besides,
the R&D of novel therapies and technologies adds to the intense
competition. As per estimates, protein-based drugs account for a significant
share of global pharmaceutical sales, which is expected to influence
manufacturers to increase their development activities.
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