Regionally, the global protein degeneration therapy market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in North America is estimated to acquire the largest share over the forecast period on the back of the high healthcare expenditure, and presence of favorable reimbursement facilities in the region. Apart from these, growing occurrence of malignant conditions is also expected to drive the market growth in the region in the coming years. Additionally, the market in Europe is also assessed to gather a notable share during the forecast period ascribing to the growing number of cases of chronic diseases, and rapidly growing geriatric population, who are more susceptible to various disorders, in the region. According to Eurostat, more than one-fifth (20.6%) of the population of the European Union was aged 65 years and above in 2020. Also, the share of people aged 80 years or more is evaluated to increase from 5.9 % to 14.6 % between 2020 and 2100.
The global protein degeneration therapy market is further classified on the basis of region as follows:
According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.
Our in-depth analysis of the global protein degeneration therapy market includes the following segments:
By Route of Administration
January 2022- Amgen announced a partnership with Generate Biomedicines for discovering and creating protein therapeutics that could generate up to USD 1.9 billion-plus for the Flagship Pioneering spinout.
June 2021- The U.S. Food and Drug Administration (FDA) accepted the Biologics License Application for Roche’s Port Delivery System with ranibizumab (PDS) for treatment of neovascular or “wet” age-related macular degeneration.
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Ans: The major factors driving market growth are increasing prevalence of chronic diseases, and upsurge in the development of plasma-derived therapies globally.
Ans: The market is anticipated to attain a robust CAGR over the forecast period, i.e., 2022-2031.
Ans: High cost of protein degeneration therapy is estimated to hamper the market growth.
Ans: North America will provide more business opportunities for market growth owing to the high healthcare expenditure, and presence of favorable reimbursement facilities in the region.
Ans: The major players in the market are F. Hoffmann-La Roche AG, Abbott Laboratories, Amgen Inc., Baxter International Inc., Eli Lilly and Company, and others.
Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by application, route of administration, and by region.
Ans: The oral segment is anticipated to hold largest market size and is estimated grow at a steady CAGR over the forecast period and display significant growth opportunities.