Protein Drugs Market to Witness an Outstanding Growth by 2024
The pharmaceutical industry is witnessing a shift in focus from molecular drugs to protein based drugs due to its high specificity, enhanced efficacy, affinity, solubility, and low incidences of toxicity. The market for protein drugs is segmented into antibody drugs, peptide hormones, blood products and enzymes market. The antibody segment is one of the fastest growing areas in this market. Some of the commercially available antibody drugs are Adcetris (brentuximab vedotin) marketed by Seattle Genetics and Millennium/Takeda and Kadcyla (trastuzumab emtansine) marketed by Genentech and Roche. Insulin was the first peptide isolated and used as a therapeutic agent. Today there is a long list of peptides used therapeutically such as octreotide used in cancer treatment, amylin, pramlintide and glucagon-like peptide-1 (GLP-1). Rituxan (rituximab), Erbitux (cetuximab) are leading brand names in the monoclonal antibodies segment.
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Continued development in the arena of proteomics and nanotechnology, improved protein based drug efficacy and safety, advances in drug delivery system and rapid increase in chronic diseases are some of the major factors supporting the growth of this market. Geographically, North America represents the largest market, as majority of the key players are domiciled in United States and thus many new drugs first are introduced in these regions. Other factors contributing growth in these regions are a large population base affected with chronic and autoimmune diseases and reimbursement policy covering almost major chronic diseases such as diabetes, cardiovascular and autoimmune diseases. North America is followed by Europe and Asia-Pacific. Emerging countries in Asia-Pacific and Latin America including India, China, Brazil and Mexico are predicted to experience a substantial growth due to improved economic scenario and continued improvement in healthcare facilities.
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Some of the prominent players operating in this market space are Eli Lilly, Abbott Laboratories, UCB Group, Schering-Plough Corporation, Genentech Inc., Johnson & Johnson, Bristol-Myers Squibb, Novo Nordisk, Biogen Idec, Dendreon Corporation and Amgen Inc.
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
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