As per a report by Transparency Market Research, the global
bioengineered protein drugs market will rise at a 7.4% CAGR during
the period between 2017 and 2024 to become worth US$336.9 bn by 2025
from US$177.7 bn in 2016.
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Protein engineering entails building protein through modification of
amino acid. Bio engineered proteins drugs are synthesized through
genetic engineering. They are used to treat injury, cancers, and also
in organ transplants, among others. They are also referred to as
Recombinant Protein drugs and are used for modification of immune
reactions, through pathophysiological pathways at multiple levels of
cells adhesion and activation.
At the forefront of driving the global bioengineered protein drug
market is the increasing prevalence of infectious diseases, diabetes,
cancer, etc. “Bioengineered protein drugs have proven to be more
effective and have reduced or no side effects when compared with
alternative therapies for cancer, diabetes, and other maladies. This
has led to more healthcare physicians prescribing these drugs,
thereby catalyzing growth in the market,” explains the lead analyst
of the TMR report.
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In the years ahead too, the global market for bioengineered protein
drugs is expected to expand at a good clip owing to increasing drugs
in phase III of clinical trials and companies funneling money into
research and development of novel bioengineered proteins.
Serving to restrain the market, on the other hand, is the high cost
of manufacturing bioengineered protein drug, having shorter shelf
lifetime and development of bio similar drugs.
Depending upon the type of product, the global bioengineered protein
drugs market can be classified into monoclonal antibodies, vaccines,
and therapeutic protein. Of them, the therapeutic protein segment
leads with maximum share because of extensive activities in the
therapeutic protein engineering and recombinant DNA technology
products. However, the vaccines segment is anticipated to expand at a
significant CAGR from 2017 to 2025 due to rise in the development of
bioengineered prophylactic and/or therapeutics vaccines.
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Geographically, the key segments of the global bioengineered protein
drugs market are North America, Latin America, Europe, Asia Pacific,
and the Middle East and Africa. North America, of them, accounts for
a dominant share in the market and going forward too is slated to
retain its leading share on the back of rising instances of cancer
and emergence of innovative protein therapeutics for treatment of
cancer. However, the pace of growth in the North America market will
be clipped to a degree on account of loss of patent of most of the
blockbuster drugs, namely Rituxan, Humira, Avastin, Remicade, etc.
The challenge will be overcome by the launch of new drugs in the
upcoming years.
Some of the prominent participants in the global bioengineered
protein drugs market are Abbott Laboratories, F. Hoffmann-La Roche
Ltd, Amgen, Inc., Bayer AG, Merck & Co., Inc., Dr. Reddy’s
Laboratories Ltd., Biocon Ltd., Eli Lilly and Company, Sanofi,
Fresenius Kabi, GlaxoSmithKline plc, Johnson & Johnson, Novartis
AG, Panacea Biotec, ProBioGen AG, and Reliance Life Sciences Pvt.
Ltd.
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