PEGylated Proteins Market to Record an Impressive Growth By 2024
Deerfield Beach, FL -- (SBWIRE) -- 02/06/2017 -- PEGylated Proteins Market: Overview
PEGylation is the process through which strands of the PEG polymer are attached to molecules most typically proteins. Through PEGylation, increased drug stability, reduced dosage frequency, improved drug solubility, extended circulating life, increased efficiency with potentially reduced toxicity and enhanced protection from proteolytic degradation can be obtained. PEGylation is an important process as it increases the half-life of drugs and provides the ability to protect against protein enzymatic degradation. The commercial advantage gained through PEGylation of proteins is that opportunities for dosing regimens and new delivery formats become available and extended the patent life of previously approved drugs is obtained.
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PEGylated Proteins Market: Segmentation
The global PEGylated protein market is segmented into its product, protein type, application, end-user, and geography. On the basis of product, the market is divided into consumables and service. The consumable products are further subdivided into PEGylation reagents which include bifunctional PEGs, monofunctional linear PEGs, branched PEGs, multi-arm PEGs, and other PEGylation reagents and PEGylation kits. Based on protein type the market is segregated into interferons, colony stimulating factors, mAbs, erythropoietin and recombinant factor VIII. On the basis of application, the global market is classified into hepatitis, cancer treatment, hemophilia, chronic kidney diseases, gastrointestinal disorders, multiple sclerosis and other applications. Based on end-user the market is divided into CROs, pharmaceutical, and biotechnology companies and academic research institutes. Diversification of the global market on the basis of the region is seen into Europe, Asia Pacific, North America and Rest of the World.
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PEGylated Proteins Market: Growth Factors
The PEGylated protein market is a growing market, the factors contributing towards this growth are growth in biologics sector, increase in research and development spending of biotechnology and pharmaceutical companies, increasing preference given to protein-based drugs over non-protein based drugs, high prevalence of lifestyle disease and increase of circulating half-life and protein stability with the help of PEGylation. Among the different products, the consumable product segment showed the highest demand in the global market and in the end-user segment major demand was seen by biotechnology and pharmaceutical companies. However, there are certain restraining factors in the growth of the global PEGylated protein market. They include recalls and drug failure is the major factor restraining the growth of this market.
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PEGylated Proteins Market: Regional Analysis
The largest market share in the global PEGylated proteins market is held by North America. Major countries contributing towards this growth are the U.S. and Canada. The global market is growing mainly due to the increasing government funding and grants for research activities, increasing adoption of biologics drugs such as erythropoietin monoclonal antibodies and interferon for the treating chronic diseases and increase in spending for research and development, and drug discovery at early stages. Asia Pacific is anticipated to be the fastest growing market in the coming future. Government support and growing prevalence of lifestyle diseases such as cancer, arthritis and diabetes are driving the growth of the global PEGylated proteins market in Asia Pacific. A significant market share is also contributed by Europe and Rest of the World.
PEGylated Proteins Market: Competitive Players
Some of the major companies in the global PEGylated proteins market are Thermo Fisher Scientific Inc., Merck Millipore, JenKem Technology USA Inc., NOF Corporation, Celares GmbH, Creative PEGworks, Biomatrik Inc., Quanta BioDesign Ltd., Laysan Bio, Ltd. and Iris Biotech GmbH.
PEGylated Proteins Market: Regional Segment Analysis
Middle East and Africa
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