Global PEGylated Proteins Market, by Type (Consumables and Services), by Protein (Colony-stimulating factor, Interferons, Erythropoietin, Recombinant factor VII and Other), by Application (Cancer, Autoimmune Disease, Hepatitis, Multiple Sclerosis, Hemophilia, Gastrointestinal Disorder and Others), by End User (Pharmaceutical and Biotechnology Companies, Contract Research Organizations and Academic Research Institutes), and by (Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 14,424.3 Million in 2022 and is expected to exhibit a CAGR of 4.7% during the forecast period (2022-2030), as highlighted in a new report published by Coherent Market Insights.
The increasing adoption of inorganic strategies such as collaboration by the key players in the market is expected to drive the market growth over the forecast period. For instance, in September 2020, Humanigen, Inc., a clinical-stage biopharmaceutical company, and Lonza, a multinational manufacturing company for the pharmaceutical, biotechnology and nutrition sectors, announced a strategic collaboration to expand the manufacturing capacity for lenzilumab, a GM-CSF neutralizing monoclonal antibody, currently in Phase 3 clinical trials for COVID-19.
Global PEGylated Proteins Market– Impact of Coronavirus (COVID-19) Pandemic
The COVID-19 pandemic and lockdowns in various countries across the globe have impacted the financial status of businesses across all sectors, including the private healthcare sector. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry, mainly due to strict lockdown in several regions. Private healthcare is one such sector that has been impacted significantly by the COVID-19 pandemic.
Governments of various countries are focusing on initiatives to fight against COVID-19 pandemic and stop the spread of the coronavirus infection by implementing various measures. Countries such as India, U.A.E., the U.K., and others have implemented some measures and guidelines to reduce the spread of COVID-19.
Furthermore, the Indian government started focusing on improving its healthcare infrastructure and making vaccination facilities available to all citizens of the country. For instance, Department of Biotechnology Ministry of Science & Technology supported anti-viral drug - Virafin (pegylated interferon alpha-2b) by Zydus Cadila which has been approved by Drug Controller General Of India (DCGI) for emergency use for moderate COVID-19 infection. For the development of Virafin, Zydus got the support from Biotechnology Industry Research Assistance Council (DBT-BIRAC) COVID-19 Research Consoritum through National Biopharma Mission (NBM), for conducting the Phase II human clinical trial studies.
Global PEGylated Proteins Market: Key Developments
In December 2021, Horizon therapeutics Plc., a global biotechnology company, announced a license and collaboration agreement with Alpine Immune Sciences, a clinical-stage biopharmaceutical company dedicated to discovering and developing innovative, protein-based immunotherapies to develop novel protein-based therapies for autoimmune and inflammatory diseases. The agreement includes licensing of a lead, potential first-in-class preclinical candidate, as well as a research collaboration to jointly generate additional novel candidates.
In July 2022, Novo Nordisk A/S, a global healthcare company, announced that the U.S. Food and Drug Administration (FDA) had approved the supplemental Biologics License Application (sBLA) for REBINYN. REBINYN is used in adults and children with hemophilia B (congenital factor IX deficiency).
Browse 44 Market Data Tables and 34 Figures spread through 196 Pages and in-depth TOC on “Global PEGylated Proteins Market”- Forecast to 2030, Global PEGylated Proteins Market, by Type (Consumables and Services), by Protein (Colony-stimulating factor, Interferons, Erythropoietin, Recombinant factor VII and Other), by Application (Cancer, Autoimmune Disease, Hepatitis, Multiple Sclerosis, Hemophilia, Gastrointestinal Disorder and Others), by End User (Pharmaceutical and Biotechnology Companies, Contract Research Organizations and Academic Research Institutes), and by (Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/pegylated-proteins-market-5354
Moreover, increasing adoption of inorganic growth strategies by market players such as collaboration is expected to offer lucrative growth opportunities for the market. For instance, in September 2020, Humanigen, Inc., a clinical-stage biopharmaceutical company, and Lonza, a multinational manufacturing company for the pharmaceutical, biotechnology and nutrition sectors, announced a strategic collaboration to expand the manufacturing capacity for lenzilumab, a GM-CSF neutralising monoclonal antibody, currently in Phase 3 clinical trials for COVID-19
Key Takeaways of the Global PEGylated Proteins Market:
- The global PEGylated proteins market is expected to exhibit a CAGR of 4.7% during the forecast period due to the increasing adoption of inorganic strategies such as expansion of product offerings in different countries by the key players which is expected to drive the segment growth over the forecast period. For instance, in April 2022, Novo Nordisk A/S, a global healthcare company, announced that it is extending its product offerings of ESPEROCT (Antihemophilic Factor VIII (Recombinant, B-Doman Truncated), PEGylated) and ZONOVATE (Antihemophilic Factor (Recombinant, B-Domain Truncated) in Canada, to support Canadians living with hemophilia A.
- Among applications, cancer segment is estimated to hold a dominant position in the global PEGylated proteins market over the forecast period, owing to good therapeutic efficacy of pegylated nanoparticles associated drug delivery system for cancer treatment. For instance, according to an article published by the National Center for Biotechnology Information, in 2019, PEGylated hemoglobin (PEG-Hb) nanoparticles (NPs) is a promising drug delivery system to improve the therapeutic efficacy of anticancer drugs such as paclitaxel (PTX) and offers great potential in translational applications in anticancer treatments.
- Among regions, North America is estimated to account for the largest market share in the global PEGylated proteins market over the forecast period, owing to increasing product approvals by regulatory authorities in the U.S. For instance, in July 2022, Novo Nordisk, a global healthcare company, announced that the U.S. Food and Drug Administration (FDA) had approved the supplemental Biologics License Application (sBLA) for REBINYN. REBINYN is used in adults and children with hemophilia B (congenital factor IX deficiency).
- Major players operating in the global PEGylated proteins market include Biogen Inc, Pfizer Inc, UCB S.A., Leadiant Biosciences, Inc., Amgen Inc., Thermo Fisher Scientific Inc., Horizon Therapeutics Plc., Novo Nordisk A/S, F. Hoffmann-La Roche AG, Bayer AG, BioMarin, RedHill Biopharma Ltd.
