by Recombinant therapeutic antibodies and proteins are produced through biotechnological methods by introducing gene sequences that code for desired protein into living organisms like bacteria, yeast, plant or animal cells to produce large quantities of proteins with consistent quality. These proteins are widely used for treatment of various diseases like cancer, infectious diseases, cardiovascular diseases, hematological disorders etc. The advantages of recombinant therapeutic proteins include high specificity and potency, better safety and efficacy profile as compared to conventional protein drugs.
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 key trends:
One of the major trends in the market is increasing R&D activities by key players for development of novel and precision biologic drugs. Biopharmaceutical companies are actively investing in R&D to discover and develop next generation biologics with improved targeting ability, efficacy and safety profiles. For instance, Amgen’s pipeline includes over 30 novel molecules, 12 of which are in phase 3 or registration stage clinical trials for diseases like cancer, cardiovascular diseases, inflammatory disorders etc. Similarly, Roche’s pipeline includes over 20 molecules in clinical development including next gen antibodies with enhanced properties. The increasing R&D activities are expected to translate into new product launches during the forecast period thereby driving the market growth.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate due to the high manufacturing and R&D costs involved in developing recombinant therapeutic antibodies and proteins. Stringent regulatory approvals are also required to enter this market.
Bargaining power of buyers: The bargaining power of buyers is high due to availability of biosimilars and generic alternatives for major molecules. Buyers can easily switch to alternative products if pricing is not competitive.
Bargaining power of suppliers: The bargaining power of suppliers is moderate due to availability of substitutable raw materials from different suppliers. However, suppliers have some bargaining power due to unique IP protections.
Threat of new substitutes: The threat of new substitutes is high as continuous R&D is being carried out to develop newer biological and biosimilar products with improved efficacy and safety profiles.
Competitive rivalry: The competitive rivalry is high among key players to sustain their market share in this rapidly growing market.
Key Takeaways
The global Recombinant Therapeutic Antibodies And Proteins Market Share is expected to witness high growth, exhibiting 12% CAGR over the forecast period, due to increasing prevalence of chronic diseases. North America is expected to dominate the market during the forecast period owing to rising healthcare expenditure and early adoption of novel recombinant therapeutic antibodies and proteins in the region.
Regional analysis
North America is expected to hold the major share in the global recombinant therapeutic antibodies and proteins market during the forecast period. Factors such as rising prevalence of chronic diseases, increasing R&D investments, and rising healthcare expenditure are driving the market growth in the region. Asia Pacific is expected to witness fastest growth during forecast period due to increasing healthcare spending, rising incidence of chronic diseases, and growing generic drugs market.
Key players
Key players operating in the recombinant therapeutic antibodies and proteins market are Roche, Johnson & Johnson, Novartis, and Amgen. Roche leads the market with its wide portfolio of recombinant antibodies such as Herceptin, Avastin and Pulmozym. Johnson & Johnson operates through its Janssen Pharmaceuticals unit and markets drugs such as Stelara and Imbruvica.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
