Advancements in bioengineering tools for the production of pharmaceuticals have shaped the evolution of the bioengineered protein drugs market.
Advancements in bioengineering tools for the production of pharmaceuticals have shaped the evolution of the bioengineered protein drugs market. These drugs are characterized by better pharmacodynamic (PD) and Pharmacokinetic (PK) abilities. The preference for bioengineered protein drugs over small molecule drugs has grown over the past few years. In addition, the low toxicity level enables them to gain wider acceptance than several other drug types.
Advancements in the biotech sector are propelling the expansion of avenues in the bioengineered protein drugs market. In particular, the growing application of recombinant DNA technologies have allowed them to boost their drug pipeline in various stages of drug development, thus enriching the value chain of the bioengineered protein drugs market.
The in-depth study on the global valuation of the bioengineered protein drugs market to advance at 7.4% CAGR during the forecast period 2017–2024. The valuation is projected to reach US$336.9 bn by 2025 from the valuation of US$177.7 bn in 2016.
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Vaccines Segment to Emerge at Rapid Pace during Forecast Period
Some of the key product types in the bioengineered protein drugs market are monoclonal antibodies, therapeutic proteins, and vaccines. Of these, therapeutic proteins are projected to generate sizable revenue opportunities to pharmaceutical companies during the forecast period. The therapeutic protein segment held a major share of the global market in 2016. Key product types are hormones, cytokines, blood factor, thrombolytics, and enzyme therapy.
On the other hand, demand for bioengineered protein drugs for vaccines are expected to rise rapidly, thereby spurring the growth of the segment. The rapid growth is anticipated to the substantial prevalence of infectious and fata diseases.
Companies are keen on developing vaccines that show cell-mediated and antibody-mediated immunity as well as possess long-lasting immunogenic memory. The trend is spurring advancements in prophylactic and therapeutic nanovaccines for managing the morbidity and mortality of acquired immunodeficiency syndrome (AIDS), tuberculosis, cancer, and malaria. The demand for such advanced vaccines is also propelling lucrative opportunities in the bioengineered protein drugs market.
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Bioengineered Protein Drugs Market Characterized with Intense Competition
The presence of some of the globally prominent pharmaceutical companies in the bioengineered protein drugs market, coupled with rise in spending from new entrants, has rendered the landscape increasingly competitive.
Companies with financial might are steadily committing R&D funds on discovering novel protein-based therapeutics. Players are increasingly leveraging the synergies of partnerships and collaborations to consolidate their strategic positions in the bioengineered protein drugs market. A few of them are expanding their product portfolio.
Some of the key players in the bioengineered protein drugs market are ProBioGen AG, Johnson & Johnson, GlaxoSmithKline plc., Sanofi, Eli Lilly and Company, Biocon Ltd., Dr. Reddy’s Laboratories Ltd., Merck & Co., Inc., Bayer AG, Amgen, Inc., F. Hoffmann-La Roche Ltd, and Abbott Laboratories.
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North America and Europe Lucrative Regions, Extensive R&D on Innovative Protein Therapeutics Cement Prospects
A TMR study on the bioengineered protein drugs market makes an in-depth assessment of key geographies, namely, North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Of these, North America held a leading market share in 2016, and is projected to retain its top slot until the end of the forecast period. The vast revenues have been propelled by the demand for these drugs for cancer. In particular, players in the North America bioengineered protein drugs market have been keenly enriching their drug pipeline for monoclonal antibodies and biotherapeutic proteins.
The study has estimated the North America bioengineered protein drugs market to clock a CAGR of 7.2% from 2017 to 2025 and reach valuation of US$161.05 bn by the end of 2025.
Europe has emerged as the second leading regional market. Extensive R&D on biosimilars to address the unmet need for patent loss of blockbuster drugs in the region has spurred revenue potential of the regional market in recent years.
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