Bioengineered Protein Drugs Market Insights 2024: Key Players and Strategies

Overview and Scope
Bioengineered protein drugs are defined as drugs that are manufactured through certain laboratory techniques using living cells, which include applications of biological processes and protein molecules. The use of bioengineered proteins allows for the tuning of mechanical and stimuli-sensitive qualities, together with high purity and uniform molecular weight, avoiding adverse results.

Sizing and Forecast
The bioengineered protein drugs market size has grown strongly in recent years. It will grow from $379.36 billion in 2023 to $411.1 billion in 2024 at a compound annual growth rate (CAGR) of 8.4%.  The  growth in the historic period can be attributed to increased understanding of diseases, regulatory approvals, rising prevalence of chronic diseases, collaborations and partnership, market expansion.

The bioengineered protein drugs market size is expected to see strong growth in the next few years. It will grow to $556.9 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%.  The growth in the forecast period can be attributed to personalized medicine trends, expanding therapeutic applications, emerging markets, focus on rare diseases, healthcare infrastructure development. Major trends in the forecast period include advancements in protein engineering, increased focus on monoclonal antibodies, personalized medicine and targeted therapies, emergence of next-generation biologics, manufacturing process optimization.

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Segmentation & Regional Insights
The bioengineered protein drugs market covered in this report is segmented –

1) By Drug Type: Recombinant Protein, Vaccine, Peptide Antibiotics, Therapeutic Enzymes, Other Drug Type
2) By Technology: Bioreactors, Fractionation, Genetically Modified Organisms, Genetic Engineering, Pharming, Cell Culture, Microbial Cell Fermentation, Other Technology
3) By Application: Autoimmune, Heart, Congenital, Infectious Diseases, Cancer, Diabetes, Arthritis, Other Application
4) By End User: Pharmaceutical, Contract Research Organizations, Research Institutes, Biotechnology Companies

North America was the largest region in the bioengineered protein drugs market in 2023. The regions covered in the bioengineered protein drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth
The increasing prevalence of chronic disease is expected to propel the growth of the bioengineered protein drug market going forward. Chronic diseases refer to those diseases from which people suffer for a year or longer, require continuous medical care, and restrict everyday physical activities. Bioengineered protein drugs are used for the treatment of chronic diseases with designer protein therapies for use in oncology and regenerative medicine using combinatorial and logical methodologies. For instance, in September 2022, according to the World Health Organization (WHO) 2022 Highlights, a Switzerland-based intergovernmental health organization, there were 41 million deaths, which is 74% of those caused by noncommunicable diseases (NCDs) or chronic diseases every year globally were 17.9 million deaths are from cardiovascular diseases, 9.3 million deaths from cancer, 4.1 million deaths from chronic respiratory diseases, and 2.0 million deaths are from diabetes. Therefore, increasing chronic disease is driving the growth of bioengineered protein drugs.

Key Industry Players
Major companies operating in the bioengineered protein drugs market report are Abbvie Inc., Amgen Inc., Astrazeneca PLC, Bayer HealthCare Pharmaceuticals LLC, Eli Lilly and Company, F. Hoffmann-La Roche AG, GlaxoSmithKline plc, Johnson & Johnson, Novartis AG, Novo Nordisk A/S, Sanofi S.A., Grifols S.A., Adma Biologics Inc., CSL Limited, Abbott Laboratories, Baxter International Inc., Fresenius Kabi AG, Merck & Co. Inc., Pfizer Inc., Biogen Inc., Bristol-Myers Squibb Company, Genentech Inc., Lonza Group AG, MedImmune LLC, Regeneron Pharmaceuticals Inc., Shire plc., Takeda Pharmaceutical Company Limited, Teva Pharmaceutical Industries Ltd., Shanghai United Cell Biotechnology Co. Ltd., Panacea Biotec Ltd.

The bioengineered protein drugs  market report table of contents includes:

1. Executive Summary
2. Bioengineered Protein Drugs Market Characteristics
3. Bioengineered Protein Drugs Market Trends And Strategies
4. Bioengineered Protein Drugs Market - Macro Economic Scenario
5. Global Bioengineered Protein Drugs Market Size and Growth
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31. Global Bioengineered Protein Drugs Market Competitive Benchmarking
32. Global Bioengineered Protein Drugs Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Bioengineered Protein Drugs Market
34. Bioengineered Protein Drugs Market Future Outlook and Potential Analysis
35. Appendix

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