The Recombinant Therapeutic Antibodies And Proteins Market Is Estimated To Witness High Growth Owing To Increasing Use In Targeted Cancer Therapy

The Recombinant Therapeutic Antibodies And Proteins Market Is Estimated To Witness High Growth Owing To Increasing Use In Targeted Cancer Therapy

 Recombinant therapeutic antibodies and proteins are important biopharmaceutical products used for disease treatment and management. They are produced through recombinant DNA technology by genetically engineered cell lines such as bacteria, yeast, and mammalian cells. Antibodies act as targeted therapies whereas proteins are used to replace deficient or missing human proteins, helping treat conditions such as cancer, autoimmune diseases, cardiovascular diseases, hemophilia and other genetic disorders.

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:

The recombinant therapeutic antibodies and proteins market is expected to grow at a significant rate, owing to increasing use of monoclonal antibodies for targeted cancer therapy. According to World Health Organization, cancer accounted for nearly 10 million deaths in 2020 and is a leading cause of death worldwide. Monoclonal antibodies have revolutionized cancer treatment by selectively targeting tumor cells and proteins while minimizing damage to normal cells. Another major driver is the increasing prevalence of autoimmune diseases globally. For example, according to National Institutes of Health, about 23.5 million Americans suffered from autoimmune diseases in 2015. Biologics and therapeutic proteins are important treatment options for various autoimmune conditions. However, high development and manufacturing costs of biologics pose a challenge to market growth.

SWOT Analysis

Strength: Explain in three sentence explanation: Recombinant therapeutic antibodies and proteins offer precise treatment with minimized side-effects. They enable detection and prevention of various diseases like cancer, infectious diseases. Recombinant technology allows mass production of these antibodies and proteins in a more effective and economical manner.
Weakness: Explain two weakness in three sentence long explanation: High costs involved in R&D and production of recombinant therapeutic antibodies and proteins make them inaccessible for some patients. Storage and transportation of these molecules require strict temperature controls which increases logistical challenges and costs.
Opportunity: Explain two opportunity in three sentence long explanation: Growing prevalence of chronic diseases and various types of cancer presents huge market potential. Emerging economies provide lucrative opportunities owing to their large patient population and improving healthcare spending.
Threats: Explain two threats two sentence explanation: Stringent regulatory norms can delay approvals and market entry. Patent expiries of blockbuster drugs lead to decline in revenues of innovator companies.

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 burden of chronic diseases. North America is currently the dominant as well as the fastest growing regional market owing to established healthcare infrastructure and rising healthcare expenditure in the US and Canada. Europe also captured significant market share due to presence of key market players and favorable reimbursement policies for expensive biologics.

Regional analysis
Asia Pacific is anticipated to exhibit highest growth rate over the coming years. Growing unmet medical needs, rising healthcare spending, and expanding access to healthcare insurance are major factors driving the APAC market.

Key players
Key players operating in the recombinant therapeutic antibodies and proteins market are Roche, Johnson & Johnson, Novartis, and Amgen. The market is fairly concentrated with these major players collectively accounting for over 50% share. Large companies are continuously investing in R&D to develop novel molecules and gain first-mover advantages.

For more details on the report, Read-

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