The global targeted protein degradation market size was estimated to be USD 0.548 billion in 2023 and is expected to reach USD 4.37 billion by 2034 with a CAGR of 20.76% during the forecast period 2024-2034. The market will grow as a result of factors such the growing emphasis on precision medicine, rising investment in drug discovery, unmet needs in cancer and other chronic diseases, technological advancements in protein degradation platforms, collaborative efforts, and strategic partnerships.
Collaborations between biotechnology companies and pharmaceutical giants are significantly accelerating the development of target protein degradation (TPD) therapies by combining their expertise in drug discovery, clinical development, and commercialization, thereby facilitating faster market entry for innovative treatments. In March 2024, C4 Therapeutics, a biopharmaceutical company focused on small molecule drugs for targeted protein degradation, announced a strategic discovery research collaboration with Merck KGaA in Darmstadt, Germany. This partnership aims to target critical oncogenic proteins using C4T’s proprietary Degronimid platform technology, advancing the development of next-generation oncology therapies.
By type, the PROTAC segment accounted for the highest revenue-grossing segment in the global targeted protein degradation market in 2023 owing to the widespread adoption of PROTACs for oncology therapies and their proven efficacy in degrading undruggable proteins. For instance, in April 2024, Novartis purchased from Vividion Therapeutics a protein degrader for prostate cancer that was ready for Phase 3. VVD-101 is the protein degrader under consideration; it is intended to specifically target the androgen receptor, a major cause of prostate cancer. The objective of Novartis is to progress this chemical towards clinical trials in order to create novel treatments for prostate cancer. Additionally, the molecular glues segment is predicted to grow at the fastest CAGR during the forecast period owing to the emergence of molecular glues as a simpler, cost-effective alternative to PROTACs and their potential to target a broader range of proteins in various diseases.
By application, the therapy development segment accounted for the highest revenue-grossing segment in the global targeted protein degradation market in 2023 owing to the increasing number of TPD-based therapeutic candidates in late-stage clinical trials, particularly in cancer and neurodegenerative diseases. For example, in March 2024, scientists from Sinai Health and the University of Toronto developed a novel platform for identifying "effector" proteins. These proteins use connections between proteins within cells to control the stability of other proteins and provide new avenues for the development of tailored therapeutics for illnesses. Additionally, the drug discovery segment is predicted to grow at the fastest CAGR during the forecast period owing to the growing interest in TPD technologies for drug discovery, enabling the identification of novel targets and expanding therapeutic possibilities beyond conventional small molecules.
By end-user, the pharmaceutical & biotechnology companies segment accounted for the highest revenue-grossing segment in the global targeted protein degradation market in 2023 owing to the significant R&D investments and strategic collaborations for developing TPD-based therapies, driving growth in the sector. For instance, in May 2023, scientists at the Max Planck Institute of Biochemistry (MPIB) made a revolutionary finding in the field of cellular biology. They have discovered a process that makes it easier for protein modules to be recycled, which permits undesirable proteins in cells to be specifically broken down. This process is essential for guaranteeing appropriate protein turnover and preserving the integrity of the cellular supply chain. Additionally, the hospitals & clinical laboratories segment is predicted to grow at the fastest CAGR during the forecast period owing to the increased adoption of TPD therapies in clinical settings, driven by the rise in personalized medicine and the need for advanced treatment options.
North American region is anticipated for the highest revenue share during the forecast period owing to the presence of leading biotechnology and pharmaceutical companies, advanced healthcare infrastructure, significant R&D investments, and the early adoption of targeted protein degradation therapies. Additionally, the Asia Pacific region is expected to experience the highest compound annual growth rate (CAGR) during the forecast period, driven by the expanding biotechnology sector, increasing government initiatives to support drug development, the growth of clinical trials, and a rising demand for innovative cancer therapies in countries such as China and Japan. For instance, in May 2023, $40 million was invested in Cullgen, Inc., a biotech company with offices in Shanghai, China, and San Diego, California. Cullgen, Inc. advances small molecule therapeutics using its proprietary uSMITE technology for targeted protein degradation.
This comprehensive research report focuses on the global and regional market size and forecasts from 2023 to 2034.
Collaborations between biotechnology companies and pharmaceutical giants are significantly accelerating the development of target protein degradation (TPD) therapies by combining their expertise in drug discovery, clinical development, and commercialization, thereby facilitating faster market entry for innovative treatments. In March 2024, C4 Therapeutics, a biopharmaceutical company focused on small molecule drugs for targeted protein degradation, announced a strategic discovery research collaboration with Merck KGaA in Darmstadt, Germany. This partnership aims to target critical oncogenic proteins using C4T’s proprietary Degronimid platform technology, advancing the development of next-generation oncology therapies.
By type, the PROTAC segment accounted for the highest revenue-grossing segment in the global targeted protein degradation market in 2023 owing to the widespread adoption of PROTACs for oncology therapies and their proven efficacy in degrading undruggable proteins. For instance, in April 2024, Novartis purchased from Vividion Therapeutics a protein degrader for prostate cancer that was ready for Phase 3. VVD-101 is the protein degrader under consideration; it is intended to specifically target the androgen receptor, a major cause of prostate cancer. The objective of Novartis is to progress this chemical towards clinical trials in order to create novel treatments for prostate cancer. Additionally, the molecular glues segment is predicted to grow at the fastest CAGR during the forecast period owing to the emergence of molecular glues as a simpler, cost-effective alternative to PROTACs and their potential to target a broader range of proteins in various diseases.
By application, the therapy development segment accounted for the highest revenue-grossing segment in the global targeted protein degradation market in 2023 owing to the increasing number of TPD-based therapeutic candidates in late-stage clinical trials, particularly in cancer and neurodegenerative diseases. For example, in March 2024, scientists from Sinai Health and the University of Toronto developed a novel platform for identifying "effector" proteins. These proteins use connections between proteins within cells to control the stability of other proteins and provide new avenues for the development of tailored therapeutics for illnesses. Additionally, the drug discovery segment is predicted to grow at the fastest CAGR during the forecast period owing to the growing interest in TPD technologies for drug discovery, enabling the identification of novel targets and expanding therapeutic possibilities beyond conventional small molecules.
By end-user, the pharmaceutical & biotechnology companies segment accounted for the highest revenue-grossing segment in the global targeted protein degradation market in 2023 owing to the significant R&D investments and strategic collaborations for developing TPD-based therapies, driving growth in the sector. For instance, in May 2023, scientists at the Max Planck Institute of Biochemistry (MPIB) made a revolutionary finding in the field of cellular biology. They have discovered a process that makes it easier for protein modules to be recycled, which permits undesirable proteins in cells to be specifically broken down. This process is essential for guaranteeing appropriate protein turnover and preserving the integrity of the cellular supply chain. Additionally, the hospitals & clinical laboratories segment is predicted to grow at the fastest CAGR during the forecast period owing to the increased adoption of TPD therapies in clinical settings, driven by the rise in personalized medicine and the need for advanced treatment options.
North American region is anticipated for the highest revenue share during the forecast period owing to the presence of leading biotechnology and pharmaceutical companies, advanced healthcare infrastructure, significant R&D investments, and the early adoption of targeted protein degradation therapies. Additionally, the Asia Pacific region is expected to experience the highest compound annual growth rate (CAGR) during the forecast period, driven by the expanding biotechnology sector, increasing government initiatives to support drug development, the growth of clinical trials, and a rising demand for innovative cancer therapies in countries such as China and Japan. For instance, in May 2023, $40 million was invested in Cullgen, Inc., a biotech company with offices in Shanghai, China, and San Diego, California. Cullgen, Inc. advances small molecule therapeutics using its proprietary uSMITE technology for targeted protein degradation.
This comprehensive research report focuses on the global and regional market size and forecasts from 2023 to 2034.
Report Scope:
- Base Year: 2023
- Forecast Period: 2024-2034
- Study Coverage
- Market Forecast by Type, Application, and End-User
- Market Forecast for 5 Regions and 17+ Countries
- North America (U.S. and Canada)
- Europe (Germany, France, UK, Spain, Italy, Russia, Rest of Europe)
- Asia Pacific (China, Japan, India, Australia, South Korea, Rest of APAC)
- Latin America (Brazil, Mexico, Argentina, Rest of LATAM)
- MEA (South Africa, GCC, Rest of MEA)
- Exhaustive Company Profiles of the Top 10+ Major Market Players
- 20% Free Customization Available to Meet Your Exact Requirement.
Segmentation: Targeted Protein Degradation Market Report 2023 - 2034
Targeted Protein Degradation Market Analysis & Forecast by Type 2023 - 2034 (Revenue USD Bn)
- PROTAC
- Molecular Glues
- LYTACs
- Others
Targeted Protein Degradation Market Analysis & Forecast by Application 2023 - 2034 (Revenue USD Bn)
- Drug Discovery
- Therapy Development
- Cancer
- Neurology
- Infectious Diseases
- Cardiovascular Diseases
- Others
Targeted Protein Degradation Market Analysis & Forecast by End-User 2023 - 2034 (Revenue USD Bn)
- Pharmaceutical & Biotechnology Companies
- Academic & Research Institutes
- Hospitals & Clinical Laboratories
- Others
Targeted Protein Degradation Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Targeted Protein Degradation Market: Type Estimates & Trend Analysis
8. Targeted Protein Degradation Market: Application Estimates & Trend Analysis
9. Targeted Protein Degradation Market: End-User Estimates & Trend Analysis
10. Regional Market Analysis
11. North America Targeted Protein Degradation Market
12. Europe Global Targeted Protein Degradation Market
13. Asia Pacific Global Targeted Protein Degradation Market
14. Latin America Global Targeted Protein Degradation Market
15. MEA Global Targeted Protein Degradation Market
16. Competitor Analysis
17. Company Profiles
Companies Mentioned
- Arvinas Inc.
- C4 Therapeutics Inc.
- Kymera Therapeutics Inc.
- Nurix Therapeutics Inc.
- Bristol Myers Squibb
- Pfizer Inc.
- Amgen Inc.
- Novartis AG
- GlaxoSmithKline (GSK) plc
- Merck & Co. Inc.
- Foghorn Therapeutics Inc.
- AstraZeneca plc
- Celgene Corporation (a subsidiary of Bristol Myers Squibb)
- Vividion Therapeutics Inc. (acquired by Bayer)
- Monte Rosa Therapeutics.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | December 2024 |
| Forecast Period | 2023 - 2034 |
| Estimated Market Value ( USD | $ 0.55 Billion |
| Forecasted Market Value ( USD | $ 4.37 Billion |
| Compound Annual Growth Rate | 20.7% |
| Regions Covered | Global |
| No. of Companies Mentioned | 15 |
