Bioengineered Protein Drugs Global Market Report 2024

The bioengineered protein drugs market 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 expansion observed during the historic period can be attributed to several factors, including enhanced comprehension of diseases, regulatory clearances, the escalating incidence of chronic illnesses, collaborative efforts, and strategic partnerships aimed at market expansion.

The bioengineered protein drugs market 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 anticipated growth in the forecasted period can be attributed to several key factors, including the surge in personalized medicine approaches, the broadening scope of therapeutic applications, the emergence of new markets, heightened attention to rare diseases, and ongoing development in healthcare infrastructure.

The escalating preference for environmentally friendly products stands as a significant driver behind the projected growth of the biodegradable paper and plastic packaging market. This shift, driven by environmental consciousness, health concerns, corporate responsibility, and compliance adherence, fosters a demand for packaging that uses recyclable or biodegradable materials. Notably, studies such as the one conducted by Meyers in July 2022, encompassing over 10,000 individuals across 17 nations, revealed that 60% of global consumers prioritize sustainability in their purchases, with the U.S. slightly surpassing the global average at 61%. Additionally, data from Simon-Kucher in 2021 highlighted that 78% of respondents worldwide value environmental sustainability, with 34% willing to pay more for sustainable products. This burgeoning preference significantly propels the growth of biodegradable paper and plastic packaging.

The burgeoning inclination towards vegan and plant-based diets is poised to be a pivotal driver for the biodegradable paper and plastic packaging market. With the rise in demand for plant-based and vegan foods, there's a parallel demand for packaging aligned with these dietary choices. As per The Plant-Based Foods Association's report in April 2023, plant-based food sales in the U.S. surged to $8 billion in 2022, marking an approximate 6.67% increase from the previous year. This growing preference for plant-based diets directly influences the surge in demand for biodegradable paper and plastic packaging.

Innovation surfaces as a prominent trend shaping the biodegradable packaging market, with major players focusing on pioneering technologies and materials. Noteworthy efforts include ProAmpac's launch of ProActive Recyclable Paper-1000 in February 2023, a curbside recyclable paper-based packaging designed with heat-sealable properties, superior tear strength, and an effective moisture barrier. This innovation, tailored for frozen food and secondary packaging applications, emphasizes performance, stiffness, and moisture resistance.

Market leaders in the biodegradable paper and plastic packaging sector prioritize advanced packaging solutions to gain a competitive edge. Notably, a France-based producer introduced Plastic Free Paper in October 2021, a packaging option completely devoid of plastic or contentious materials, recyclable, and compostable. Created in collaboration with CITEO, this solution serves as an oxygen, fats, and mineral oils barrier, replacing plastics and chemical treatments while ensuring food safety and end-of-life management. These advancements underscore a pivotal shift towards sustainable and environmentally conscious packaging solutions, driven by consumer preferences and industry innovation within the biodegradable paper and plastic packaging market.

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.

The rising healthcare expenditure is expected to propel the growth of the bioengineered protein drugs market going forward. Healthcare expenditure refers to the total monetary value spent on healthcare goods and services within a specific time frame, encompassing expenses related to medical treatment, medications, hospital care, and other health-related services. Bioengineered protein drugs provide targeted and innovative therapies to healthcare expenditure spent on medications, hospital care, and various health-related services. Increased use of BPDs translates to higher overall healthcare expenditure. For instance, in November 2022, according to the CIHI, a Canada-based Institute for Health Information, forecasted that the total health spending in Canada is expected to rise by 0.8% from $328 billion in 2021 to $331 billion in 2022. Therefore, the rising healthcare expenditure is driving the bioengineered protein drugs market.

Product innovations are a key trend gaining popularity in the bioengineered protein drug market. Companies operating in the bioengineered protein drug market are adopting new technologies to sustain their position in the market. For instance, in July 2021, Janssen Pharmaceuticals, Inc., a Belgium-based pharmaceutical company, launched RYBREVANT, a Food and Drug Administration (FDA)-approved bioengineered protein drug. Rybrevant (amivantamab-vmjw) is a monoclonal antibody drug that is used to treat non-small cell lung cancer (NSCLC) with epidermal growth factor receptor (EGFR) exon 20 insertion mutations. The technology used in the development of Rybrevant is a combination of molecular biology, cell culture, and protein engineering techniques. Rybrevant was developed using a phage display process, in which a library of antibodies is screened for those that bind specifically to the target protein. Major companies operating in the bioengineered protein drugs market are focused on developing innovative solutions such as tissue therapeutics platform to address the unmet need in regenerative medicine. A tissue therapeutics platform is a technology that allows for the development of bioengineered tissues for regenerative medicine. For instance, in April 2022, Satellite Bio, a US-based developer of a therapeutic platform, launched the Satellite Adaptive Tissue (SAT) platform, the innovative tissue therapeutics. It utilizes the Satellite Adaptive Tissue (SAT) platform to create bioengineered tissues. These implantable therapies aim to repair, restore, or replace dysfunctional organs. .

The primary categories of bioengineered protein drugs include recombinant proteins, vaccines, peptide antibiotics, therapeutic enzymes, among others. Recombinant proteins are generated via genetic engineering methods, where genes encoding desired proteins are inserted into organisms such as bacteria or yeast. These proteins are produced utilizing diverse technologies such as bioreactors, microbial cell fermentation, fractionation, genetically modified organisms, genetic engineering, pharmacology, cell culture, among others, employed by pharmaceutical firms, contract research organizations, research institutes, and biotech companies. These bioengineered proteins find application in treating a spectrum of diseases, encompassing autoimmune, cardiovascular, congenital, infectious, oncological, diabetic, arthritic, and other conditions.

The bioengineered protein drugs market research report provides bioengineered protein drugs market statistics, including global market size, regional shares, competitors with a bioengineered protein drugs market share, detailed bioengineered protein drugs market segments, market trends and opportunities, and any further data you may need to thrive in the bioengineered protein drugs industry. This bioengineered protein drugs market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The projected rise in chronic diseases is set to be a driving force behind the growth of the bioengineered protein drug market. Chronic diseases, enduring for a year or more and necessitating continuous medical attention, significantly impact daily physical activities. Bioengineered protein drugs play a vital role in treating these chronic ailments, offering designer protein therapies geared toward oncology and regenerative medicine. Notably, the World Health Organization (WHO) highlighted in September 2022 that a staggering 74% of global deaths, amounting to 41 million annually, stem from noncommunicable diseases (NCDs) or chronic diseases. These include 17.9 million deaths from cardiovascular diseases, 9.3 million from cancer, 4.1 million from chronic respiratory diseases, and 2.0 million from diabetes. This surge in chronic diseases directly fuels the demand for bioengineered protein drugs.

The upward trajectory of healthcare expenditure is poised to significantly drive the bioengineered protein drug market. This expenditure encompasses the total financial outlay on healthcare services, including medical treatments, medications, hospital care, and related health services. Bioengineered protein drugs, offering targeted and innovative therapies, substantially contribute to healthcare expenditure, notably in medications, hospital care, and other health-related services. The increased utilization of these drugs translates into amplified healthcare spending. For instance, the CIHI projected in November 2022 that Canada's total health spending is anticipated to rise by 0.8%, reaching $331 billion in 2022 from $328 billion in 2021. Hence, the escalating healthcare expenditure distinctly propels the bioengineered protein drug market.

Innovation stands out as a pivotal trend shaping the bioengineered protein drug market, with companies leveraging new technologies to fortify their market presence. An illustrative example is Janssen Pharmaceuticals, Inc.'s July 2021 launch of RYBREVANT, an FDA-approved bioengineered protein drug targeting non-small cell lung cancer (NSCLC) with epidermal growth factor receptor (EGFR) exon 20 insertion mutations. This drug, developed using molecular biology, cell culture, and protein engineering techniques, notably employed a phage display process to screen antibodies binding specifically to the target protein.

Market leaders in the bioengineered protein drugs sector focus on developing innovative solutions such as tissue therapeutics platforms to address unmet needs in regenerative medicine. Satellite Bio's launch of the Satellite Adaptive Tissue (SAT) platform in April 2022 exemplifies this approach. Leveraging this technology, bioengineered tissues are crafted as implantable therapies aimed at repairing, restoring, or replacing dysfunctional organs, addressing critical requirements in regenerative medicine. This commitment to advanced solutions highlights the industry's push for novel therapeutic platforms.

In July 2021, AstraZeneca, a US-based science-driven biopharmaceutical company, completed the acquisition of ADVANZ PHARMA for an undisclosed sum. This strategic move is designed to fortify AstraZeneca's presence within the realm of rare diseases and to enhance its scientific expertise in the field of immunology. ADVANZ PHARMA Corp. Limited, based in the UK, is a specialty pharmaceutical firm that strategically concentrates on delivering sophisticated medications across a diverse spectrum of therapeutic domains. Its portfolio notably encompasses recombinant protein offerings among its array of products.

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.

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.

The countries covered in the bioengineered protein drugs market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The bioengineered protein drugs market consists of sales of cytokines, peptide antibiotics, monoclonal antibodies, replacement proteins, and blood products. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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