by Recombinant therapeutic antibodies and proteins are complex biologics produced using recombinant DNA technology. They are widely used for treatment of various chronic and life-threatening diseases such as cancer, autoimmune disorders, infectious diseases and others. Monoclonal antibodies have emerged as the largest and fastest growing segment owing to their high target specificity and less severe side effects.
The global Recombinant Therapeutic Antibodies And Proteins Market is estimated to be valued at US$ 185.95 Bn in 2023 and is expected to exhibit a CAGR of 12% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Increasing prevalence of chronic diseases is a major factor fuelling growth of the global recombinant therapeutic antibodies and proteins market. According to WHO, chronic diseases accounted for approximately 60% of the global deaths in 2016, majorly heart disease, stroke, cancer, chronic respiratory diseases and diabetes. High research and development activities for development of novel biologics is another factor driving market growth. Moreover, availability of biosimilars and rising awareness about advanced treatment options is also boosting demand for recombinant therapeutic antibodies and proteins. However, high costs associated with development and production is a major challenge for market players. Stringent regulatory guidelines also act as a restraint for market growth.
Segment Analysis
The global recombinant therapeutic antibodies and proteins market is segmented into monoclonal antibodies, recombinant growth factors, clotting factors, erythropoietin, interferons, enzymes, and hormonal factors. Among these, the monoclonal antibodies segment dominates the market and is expected to continue its dominance over the forecast period. Monoclonal antibodies such as Bevacizumab, Trastuzumab and Rituximab have enormous applications for treatment of various cancers and inflammatory diseases. Their high efficacy and specificity has increased the demand for monoclonal antibodies globally.
PEST Analysis
Political: Regulations by regulatory bodies such as FDA in approval of recombinant therapeutic antibodies and proteins ensure safety and efficacy of the drugs. However, stringent regulations increase the development cost and timelines.
Economic: Growth of the market is driven by rising healthcare spending per capita across developed and developing nations. High R&D investments by pharmaceutical companies for novel drug development is further fueling the market growth.
Social: Increasing incidence of chronic diseases like cancer and diabetes has created high demand for effective therapeutic options. Growing health awareness is encouraging people to seek early treatment and diagnosis using recombinant therapeutic drugs.
Technological: Advent of advanced technologies like gene synthesis, protein and mammalian cell engineering has improved productivity and quality of recombinant drugs. Continuous technological advancements are helping reduce production costs and expanding applications.
Key Takeaways
The global Recombinant Therapeutic Antibodies And Proteins Market Share is expected to witness high growth, exhibiting CAGR of 12% over the forecast period, due to increasing prevalence of chronic diseases. The market was valued at US$ 185.95 Bn in 2023 and is expected to reach over US$ 450 Bn by 2030.
Regional analysis
North America dominates the global market and is expected to maintain its lead over the forecast period. This is attributed to robust healthcare infrastructure, high healthcare spending and presence of leading market players in the region. Asia Pacific is anticipated to be the fastest growing region owing to rising healthcare expenditure, availability of skilled labor and developmental initiatives by regional governments.
Key players
Key players operating in the recombinant therapeutic antibodies and proteins market are Roche, Johnson & Johnson, Novartis, and Amgen. Roche leads the monoclonal antibodies segment with blockbuster drugs like Rituxan, Herceptin and Avastin. Johnson & Johnson has a significant market share due to its portfolio of recombinant proteins like Erythropoietin. These companies are investing heavily in development of novel antibodies and proteins to expand their market share.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
