by The recombinant therapeutic antibodies and proteins market is estimated to be valued at US$ 130.9 Bn or Mn in 2022 and is expected to exhibit a CAGR of 12.2% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Recombinant therapeutic antibodies and proteins are bioengineered protein drugs produced using recombinant DNA technology. They mimic the function of naturally produced human proteins and antibodies. Common applications include treatment of cancer, hormonal deficiencies, cardiovascular diseases, and chronic inflammatory diseases. These therapeutic agents offer precise targeting and less debilitating side effects compared to traditional drug molecules.
Market Dynamics:
Biosimilars: Growing adoption of biosimilars due to their cost effectiveness compared to reference biologics is expected to drive the market growth over the forecast period. Biosimilars offer equivalent therapeutic efficacy as original biologics but at prices that are 15-35% lower, making treatment accessible to a larger patient pool.
Chronic Diseases: Rising global prevalence of chronic diseases such as cancer, diabetes, autoimmune disorders is a major factor fueling the demand for recombinant therapeutic antibodies and proteins. According to WHO, cancer accounted for around 10 million deaths in 2020 and is projected to become the leading cause of death worldwide by 2030.
SWOT Analysis
(This is heading keep it unchanged) Content (Write in 250 words long SWOT analysis for given market. Ex. Strength: explain in three sentence explanation; Weakness: explain two weakness in three sentence long explanation; Opportunity: explain two opportunity in three sentence long explanation; Threats: explain two threats two sentence explanation).
Strength: The recombinant therapeutic antibodies and proteins market benefits from a wide range of therapeutic applications. These molecules have high specificity and efficacy in treating various diseases. In addition, their production through recombinant DNA technology allows for large-scale, cost-effective manufacturing.
Weakness: Developing recombinant antibodies and proteins is a complex and lengthy process involving high research and development investments. Additionally, biologics have limited IP protection periods. Biosimilars entering the market once patents expire could erode market shares of pioneer products.
Opportunity: The growing geriatric population worldwide is increasing the risk of various chronic diseases, thereby driving the demand for effective biologics. Furthermore, the market is witnessing a shift towards personalized medicine, opening new avenues for targeted recombinant molecules.
Threats: Stringent regulatory guidelines for ensuring product safety and efficacy increase the time and costs involved in getting approvals. Additionally, biologics face pricing pressure due to healthcare cost containment measures across major markets.
Key Takeaways:
The Global Recombinant Therapeutic Antibodies And Proteins Market Growth is expected to witness high, exhibiting CAGR of 12.2% over the forecast period, due to increasing prevalence of chronic diseases. According to the World Health Organization, chronic diseases accounted for approximately 60% of the total reported deaths in the world in 2001. The demand for cost-effective targeted therapies to treat chronic diseases is driving the growth of the market.
Regional analysis: North America currently dominates the global recombinant therapeutic antibodies and proteins market, owing to rising healthcare expenditure and new product launches. However, Asia Pacific is projected to grow at the fastest pace during the forecast period. This can be attributed to increasing healthcare spending, large patient pool, and improving recombinant product availability in emerging countries such as China and India.
Key players operating in the recombinant therapeutic antibodies and proteins market are Abbott, Amgen Inc., Biogen Inc., Eli Lilly and Company, F. Hoffmann-La Roche, Johnson and Johnson, Merck & Co., Novo Nordisk, Pfizer Inc., and Sanofi S.A. Major players are focusing on expanding their product portfolios through acquisitions and partnerships with early-stage biotech companies. For instance, in February 2019, Bristol-Myers Squibb acquired Celgene Corporation, which strengthened its oncology pipeline.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
