Effectiveness and Little Side Effects Boost Uptake of Bioengineered Protein Drugs

The different types of products in the global market for bioengineered protein drugs are vaccines, monoclonal antibodies, and therapeutic protein. The therapeutic protein, of them, enjoys widespread popularity on account of considerable development in recombinant DNA technology products and in therapeutic protein engineering. The vaccines segment too is showing a lot of promise and is expected to expand at a healthy clip owing to increase in development of bioengineered prophylactic and therapeutics vaccines.

The global bioengineered protein drugs market will likely expand at a 7.4% CAGR from 2017 and 2024, finds Transparency Market Research. At this rate, the market, which was worth US$177.7 bn in 2016, will attain a value of US$336.9 bn by 2025.

Why are medicos increasingly prescribing bioengineered protein drugs?

Infectious diseases, cancer, diabetes, etc. are some of the main factors boosting the global bioengineered protein drugs market. This is due to the fact that bioengineered protein drugs are highly effective and have very little or no side effects at all, as compared to other therapies for cancer, diabetes, and other maladies. Hence, medicos mostly prescribe these drugs, driving up their demand, in turn.

Going forward, the bioengineered protein drugs market is slated to see healthy progress because of companies investing substantially in research and development of unique bioengineered protein and a growing number of drugs in phase III of clinical trials.

Acting as a hindrance to the global bioengineered protein drug market, on the flipside, is their high manufacturing cost and their shorter shelf life. Biosimilars are also dealing a blow to their market.

What factors will help North America retain its leading share in the market?

North America is the leading market for global bioengineered protein drugs, which in the foreseeable future will likely retain its dominant share because of the rising instances of cancer and launch of novel protein therapeutics for cancer. Further, emergence of other new drugs and approvals for new diagnostic tests, along with a growing pool of elderly and unhealthy lifestyle will generate sufficient revenue to overcome the loss in the market on account of the patent loss for super-successful drugs, namely Avastin, Humira, Rituxan, Remicade, etc. The TMR report predicts the bioengineered protein drugs market in North America to clock a CAGR of 7.2% from 2017 to 2025 to become worth US$161.05 bn by 2025.

How is China shaping growth in Asia Pacific market?

In the next couple of years, Asia Pacific is expected to emerge as the most attractive market and will likely surpass all other regions in terms of growth. The report by TMR projects the market to grow at a solid 9.0% CAGR between 2017 and 2025. China, India, and South Korea are expected to drive the expansion in the market in the region on the back of rising instances of cancer, advancement in healthcare infrastructure, and substantial investments by players. Among the three nations again, China is the main driver of growth because of the large pool of elderly, a good number of elderly people and cancer patients, emergence of premium-priced targeted therapies, and rise in number of people covered under private health insurance in the country.


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