Protein Therapeutics Market Expected to Reach $217,591 Million, Globally, by 2023

Portland, OR -- (SBWire) -- 02/21/2018 --Protein therapeutics have positively impacted diverse fields of disease treatment and prognosis. Diseases that were otherwise debilitating and life-threatening can be managed through administration of these drugs. In addition, these drugs have contributed significantly in diagnosis and prevention of oncologic, metabolic, immunologic, and other chronic diseases. Protein therapeutics are expected to witness high adoption with increase in prevalence of distinct indications and interventions such as lymphomas, diabetes, hepatitis, leukemia, and others. Protein therapeutics market has gained momentum in the healthcare industry and pharmaceutical sector, owing to the favorable government policies, conducive regulations abiding protein therapeutics, and growth in proteomics research.

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However, high treatment costs per patient, stringent government regulations towards protein therapeutics, and complex reimbursement scenario restrict the market growth. At present, metabolic diseases treatment through protein therapeutics holds the maximum share in the global protein therapeutics market, and is expected to maintain this trend during the study period, due to rise in prevalence of diabetes globally.

Increase in awareness towards protein therapeutics and investment in research, innovation, and drug development fuel the demand for protein therapeutics. The employment of novel protein therapeutics is highest in North America, owing to increase in adoption of these drugs, followed by Europe and Asia-Pacific.

The demand for protein therapeutics has increased considerably, owing to increase in prevalence of chronic diseases and development of plasma-derived therapies. Furthermore, surge in awareness with respect to protein therapeutics among populace boosts the market growth. However, high costs associated with therapeutic proteins and stringent government regulations towards protein therapeutics restrict market growth. Conversely, adoption of protein therapeutics for novel indications and untapped potential of developing countries are anticipated to provide lucrative opportunities to the market players.

key market players of this market are, such as Abbott Laboratories, Amgen Inc., Baxter International Inc., Eli Lilly and Company, F. Hoffmann-La Roche Ltd., Johnson & Johnson, Merck & Co., Inc., Novo Nordisk A/S, Pfizer Inc., and Sanofi. Other players (profiles not included in the report) in the value chain analysis include Biogen, Inc., CSL Behring, and Genentech, Inc.

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Global Protein Therapeutics Market accounted for $140,109 million in 2016, and is anticipated to reach $217,591 million by 2023, registering a CAGR of 6.5% from 2017 to 2023. Therapeutic protein drugs are an important class of medicines, which are administered to treat an array of different diseases such as cancer, infectious diseases, and others. These drugs hold significant potential to improve human health.