by The recombinant therapeutic antibodies and proteins market is estimated to be valued at US$102 Bn in 2022 and is expected to exhibit a CAGR of 12.2% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Recombinant therapeutic antibodies and proteins include monoclonal antibodies, therapeutic proteins, and vaccines produced using recombinant DNA technology. They have advantages over conventional drugs as they target specific disease areas with high efficacy and safety. They have revolutionized treatment of chronic diseases like cancer, rheumatoid arthritis, and others.
Market key trends:
The increasing demand for biologics due to their high specificity and efficacy over other drugs is driving the growth of recombinant therapeutic antibodies and proteins market. As per a report by America’s biopharmaceutical companies, biologics now represent over 25% of total drug spending in US. Their use has increased dramatically in past few years as approval of new biological drugs has grown from 13 in 2000 to 53 in 2016. The growing prevalence of chronic diseases and increasing demand for targeted therapies for conditions like cancer and autoimmune diseases is expected to propel the demand for recombinant therapeutic antibodies and proteins products during the forecast period.
Global recombinant therapeutic antibodies and proteins market is estimated to witness high growth owing to rising global disease burden and growing demand for targeted therapeutics.
The Recombinant Therapeutic Antibodies And Proteins Market Demand is estimated to be valued at US$ 159 billion 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 Dynamics:
Rising global disease burden particularly of cancer and autoimmune diseases is a key factor driving growth of the recombinant therapeutic antibodies and proteins market. According to the World Health Organization, cancer burden is expected to grow to 27 million new cases and 16.3 million cancer deaths by 2040. Further, prevalence of autoimmune diseases such as rheumatoid arthritis is also growing worldwide. This increasing disease prevalence represents high potential patient pool for targeted biologics such as monoclonal antibodies and therapeutic proteins.
Growing demand for targeted therapeutics with high efficacy and low side effects is another major factor boosting adoption of recombinant biologics. Conventional drug therapies often lack specificity and have several side effects. Recombinant biologics have revolutionized disease management through their ability to specifically target disease pathways while minimizing toxicity. Their targeted mechanism enables superior patient outcomes thus driving their preference over small molecules.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
