Bioengineered Protein Drug Market Size

  • Report ID: 2828
  • Published Date: Mar 16, 2023
  • Report Format: PDF, PPT

Bioengineered Protein Drug Market Size

Bioengineered Protein Drug Market size is estimated to surpass USD 250 billion by the end of 2035, growing at a CAGR of 5% during the forecast period, i.e., 2023-2035. In the year 2022, the industry size of bioengineered protein drug was over USD 100 billion. The growth of the market can be attributed to the increasing cases of cancer backed by the presence of multiple organizations to promote cancer treatment and the higher utilization of bioengineered proteins to provide relief in chemotherapy. According to the statistics of the World Health Organization (WHO), cancer is the second leading cause of death around the world. The statistics also stated that in the year 2018, cancer was responsible for an estimated 9.6 million deaths.

The prevalence of infectious diseases such as diabetes, cancer, and others is primarily increasing the global demand for bioengineered protein drugs. As opposed to alternative treatments for cancer, diabetes, and other illnesses, bioengineered protein medications are more successful and often have minimal or no side effects. As a result, healthcare practitioners are increasingly prescribing medicines that are made up of bioengineered protein drugs. Moreover, the escalating research and developments in bioengineered protein drugs and advancements in phase III clinical trials for the several medicines that are made from bioengineered protein drugs, are allowing pharmaceutical manufacturers to increasingly invest in the commercialization of this protein. The Centers for Disease Control and Prevention (CDC), in its statistical report “National Diabetes Statistics Report 2020”, stated that crude estimates for the prevalence of both diagnosed and undiagnosed diabetes amongst the US population aged 18 years or older in the year 2018 were registered to 34.1 million (10.5% of the US population). 

Bioengineered Protein Drug Market
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Author Credits:  Radhika Pawar

  • Report ID: 2828
  • Published Date: Mar 16, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Growing prevalence of cancer and growing incidences of diabetes are the major factors driving the market growth.

The market is anticipated to attain a CAGR of 5% over the forecast period, i.e., 2023-2035.

The higher possibility of the unwanted immune response against themselves and membrane impermeability and poor In Vivo stability are estimated to be the growth hindering factors for the market expansion.

The market in the North American region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.

The major players in the market are Johnson & Johnson Services, Inc., Amgen Inc., Bayer AG, Dr. Reddy’s Laboratories Ltd., Biocon Limited, Eli Lilly and Company, Sanofi S.A, GlaxoSmithKline plc, and others.

The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by drug type, application, technology, drug delivery method, and by region.

The therapeutic enzymes segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
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