PEGylated Proteins Market worth $1,137.8 Million by 2021
The global PEGylated proteins market is expected to reach USD 1,137.8 Million by 2021 from USD 690.6 Million in 2016, at a CAGR of 10.5% from 2016 to 2021. Increase in R&D spending of pharmaceutical & biotechnology companies, growth in biologics sector, high prevalence of lifestyle disease, increasing adoption of protein based drugs over non-protein based drugs are the primary growth drivers for this market during the forecast period (2016–2021). However, drug failure and recalls may hinder the growth of this market.
The global PEGylated proteins market is segmented on the basis of products, protein type, application, and end-user. On the basis of product, the market is segmented into consumables and services. Of these, the consumables product segment accounted for the largest share of the global PEGylated proteins market in 2016. The large share of this segment can primarily be attributed to the increasing adoption of kit-based PEGylation products.
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On the basis of end-user, the market is segmented into pharmaceutical & biotechnology companies, CROs, and academic research institutes. Of these, the pharmaceutical & biotechnology companies end-user segment accounted for the largest share of the global PEGylated proteins market in 2016, owing to increased R&D spending by pharmaceutical and biotechnology companies.
By protein type, the market is divided into colony stimulating factors, interferons, erythropoietin, mAbs, and recombinant factor VIII. Of these, colony stimulating factors accounted for the largest growing segment in the global PEGylated proteins market by 2021. On the basis of application, the PEGylated proteins market is categorized into cancer treatment, hepatitis, chronic kidney diseases, hemophilia, multiple sclerosis, and gastrointestinal disorders.
The geographic segments included in this report are North America, Europe, Asia, and Rest of the World (RoW). Geographic analysis reveals that North America accounted for the largest share of the global PEGylated proteins market in 2016. Growth in this market can be attributed to the increased adoption of biologics drugs such as monoclonal antibodies, erythropoietin and interferon for the treatment of chronic diseases, increasing government funding and grants for research activities.
The major players in this market include Merck Millipore (U.S.), Thermo Fisher Scientific, Inc. (U.S.), NOF Corporation (Japan), JenKem Technology USA, Inc. (U.S.), Creative PEGworks (U.S), Celares GmbH (Germany), Quanta BioDesign, Ltd. (U.S.), Biomatrik, Inc, (China), Iris Biotech GmbH (Germany), Laysan Bio, Ltd. (U.S.).
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