Portland, OR -- (SBWIRE) -- 05/17/2018 -- protein therapeutics market to grow steadily at a CAGR of 8% during the forecast period. Increased demand for and use of monoclonal antibodies is expected to drive the growth of the protein therapeutics market as it accounts for more than half of the protein therapeutics market. The monoclonal antibodies can be prepared specific to any cell surface or extracellular target. These antibodies are being used in radioimmunotherapy and antibody-directed enzyme prodrug therapy. Monoclonal antibodies are also used in the formulation of various biopharmaceutical drugs for the treatment of different diseases such as cancer, rheumatoid arthritis, multiple sclerosis, and UC.
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The availability of favorable reimbursement policies in this market is expected to boost the market growth during the forecast period. Protein therapeutics are expensive and cannot be afforded by all, but reimbursement of the diagnostic kits and biologic drugs are expected to fuel the market during the forecast period. Plans like the public reimbursement programs reduce the financial burden of treatments. The reimbursement status of drugs varies from region to region, with factors such as lack of cost-effectiveness impeding the coverage.
Product segmentation and analysis of the protein therapeutics market
Human growth hormone
Blood clotting factor
Follicle stimulating hormone
The monoclonal antibodies segment dominated the market during 2015, with a market share of 55%. An increase in the prevalence of cancer and autoimmune diseases, increase in research activities, and increased technological advancement in the development of next-generation antibodies are the main factors fueling the growth of this segment.
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Geographical segmentation and analysis of the protein therapeutics market
The Americas accounted for 48% of the market share during 2015 and is expected to grow at a CAGR of 7% during the forecast period. The promising public health approaches by the government, growing incidence, and an increase in regulatory support for the development of protein therapeutics are the primary drivers for the market growth in this region.
Competitive landscape and key vendors
The global protein therapeutics market is highly fragmented due to the presence of numerous small and large vendors. The vendors in the market compete on the basis of price, quality, and innovation. Competition among the vendors has led an increased number of M&A, wherein smaller entities are being acquired by, or are being merged with, major players.
The leading vendors in the market are -
F. Hoffmann-La Roche
Johnson & Johnson
Other prominent vendors in the market include Anhui Anke Biotechnology, AstraZeneca, Baxter International, Biocon, Biodel, Biogenomics, BioPartners, Boehringer Ingelheim, Bristol-Myers Squibb, Celltrion, Chugai Pharmaceutical, Diamyd Medical, Diasome Pharmaceuticals, DiaVacs, Dynavax Technologies, Eli Lilly, Ferring Pharmaceuticals, Generex Biotechnology, GeneScience Pharmaceuticals, Hualan Biological Engineering, Intas Pharmaceuticals, Ipsen, JCR Pharmaceuticals, Kyowa Hakko Kirin, Lexicon Pharmaceuticals, LG Life Sciences, Macrogenics, MannKind, Oramed Pharmaceuticals, Osiris Therapeutics, Pfizer, Sandoz International, Sanofi, Teva Pharmaceutical Industries, Thermalin Diabetes, Tolerion, Wockhardt, and XOMA.
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