Protein Therapeutics Market to Witness Steady Expansion, Estimated at USD 566.66 Billion by 2030: Allied

Rise in proteomics research and development of novel methods opened up new avenues for protein therapeutics. Market players have adopted different strategies to advance the research activities about protein therapeutics by determining the existing issues. Collaboration is one of the vital strategies adopted by them to combine expertise of both companies and finding ways to improve outcomes for patients. In addition, researchers across different universities are coming up with novel methods to develop protein-based therapeutics and drug delivery systems. The discovery of novel methods and the demand for advanced development techniques will increase in the coming years. According to the report published by Allied Market Research, the global protein therapeutics market is estimated to reach $566.66 billion by 2030. Following are some of the activities taking place worldwide.

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Therapeutic proteins are an important class of drugs, which serve patients in need of novel therapies. Approved recombinant protein therapeutics are developed to treat a wide array of clinical indications, including cancers, genetic disorders, infectious diseases, and metabolic disorders.

"Growth of the global protein therapeutics market is attributed to increase in prevalence of chronic diseases, surge in development of protein-based therapies, and various strategies adopted by key players of the market. Moreover, increase in healthcare expenditure and approval of new products are expected to further drive the market growth during the forecast period".

Collaboration is one of the major strategies adopted by market players to combine capabilities and develop advanced products by addressing the areas in need. Blueprint Medicines Corporation joined hands with Proteovant Therapeutics for development of advanced targeted protein degrader therapies. The targeted protein degrader utilizes the natural protein system of the body and offers a potential to develop new medicine for various diseases.

Through the collaboration between two companies, Proteovant's artificial intelligence (AI)-enhanced targeted protein degradation (TPD) platform will be utilized along with expertise in precision medicine of Blueprint. Novel TPD products will be developed through extensive research and development activities. Newly developed products will be commercialized by both companies. Recent advancements in the field of TPD created opportunities for expansion of Blueprint's core kinase capabilities and devise new ways to treat various diseases. The collaboration will help Blueprint in expanding its platform more rapidly than before. In addition, both companies will be able to improve outcomes of patients with cancer and blood disorders.

Along with the strategy of collaboration, researchers from different universities worldwide developed novel drug delivery systems utilizing protein therapeutics. Researchers from Nanyang Technological University, Singapore (NTU Singapore) developed a method of drug delivery into human cells with the help of protein-based microdroplets. This discovery provides safer, faster, more effective, and better method than existing methods for cancer treatment, gene therapy, and vaccine delivery. These microdroplets are made up of peptides and have an ability to encase huge biomacromolecules. These molecules carry drugs inside them and delivery to the desired cells. This provides an advantage over the existing synthetic carriers.

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Impact of COVID-19 Pandemic on the Protein Therapeutics Market:

The COVID-19 outbreak is anticipated to have a positive impact on the protein therapeutics market. A huge number of clinics and hospitals across the globe were restructured to increase the hospital capacity for patients diagnosed with COVID-19.

By product, the market is segmented into monoclonal antibodies, insulin, fusion protein, erythropoietin, interferon, human growth hormone, and follicle stimulating hormone. The monoclonal antibodies segment generated maximum revenue in 2020, accounting for $136.9 billion. The fusion protein segment is expected to witness highest CAGR of 9.5% during the forecast period.

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About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

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