Market Trends of Protein Engineering Industry
Monoclonal Antibodies Segment is Anticipated to Witness a Notable Growth Over the Forecast Period
Monoclonal antibodies are being used in the diagnosis and treatment of many diseases, including some types of cancer. They can be used alone or to carry drugs, toxins, or radioactive substances directly to cancer cells. Monoclonal antibodies are anticipated to hold a notable market share over the forecast period, owing to their high adoption for numerous therapies, such as cancer and autoimmune diseases, increase in product launches coupled with various strategic activities of the key players. For instance, as per the Cancer in Australia statistics, 162,163 cancer cases were diagnosed in Australia in 2022. The high prevalence of cancer cases is expected to favor adopting monoclonal antibody treatments, thereby likely fueling the segment growth over the forecast period. Besides, various monoclonal antibody therapies are found to be effective in treating cancer. For instance, as per the article published in February 2022 in Nature Journal, monoclonal antibodies are a promising class of targeted anticancer medicines that improve the functioning of the body's immune system to inhibit the growth and spread of cancer cells. The creation of numerous therapeutic antibodies, including antibody fragments, bispecific antibodies, and antibody derivatives, has been sparked by the successful use of IgG monoclonal antibodies (e.g., antibody–drug conjugates and immune cytokines). Thus, the rising burden of breast cancer cases among the population is increasing the demand for better treatment options, which is expected to increase the market growth over the forecast period.
Moreover, the rising company activities for developing protein-engineered drugs for treating various diseases are likely to increase the demand for protein-based therapeutics, which is expected to augment the market growth. For instance, in September 2023, KBI Biopharma, Inc., launched SUREmAb, a vertically integrated global offering built on KBI’s SUREtechnology Platform for optimized, safe, and cost-efficient monoclonal antibody (mAb) development and manufacturing. Similarly, in October 2022, the FDA granted accelerated approval to teclistamab (Tecvayli) to treat some people with multiple myeloma. The approval, based on the results of the MajesTEC-1 trial, is for adults with multiple myeloma who have come back after at least four prior lines of treatment.
Therefore, the increasing product launches and rising prevalence of cancer and autoimmune diseases among the population are likely to boost segment growth, thereby increasing segment growth over the forecast period.
North America Anticipated to Hold a Significant Market Share Over the Forecast Period
North America is expected to hold a significant major market share in the protein engineering market owing to factors such as the rising incidence of chronic diseases, supportive government policies, high healthcare spending, and increasing adoption of protein drugs over non-protein drugs. For instance, according to the 2023 update by the Centers for Disease Control and Prevention (CDC), about 37.3 million Americans have diabetes, and 7.3 million of those are undiagnosed. Thus, the high prevalence of diabetes among the population is likely to increase the demand for insulin, further increasing the demand for protein-engineered artificial insulin, thereby boosting market growth.
Additionally, according to the Canadian Cancer Statistics 2022 Special Report, 233,900 people were diagnosed with cancer in 2022 in Canada. Breast, prostate, and colorectal cancers were the most prevalent cancers. Combined, they account for almost half of all prevalent cases. Hence, the high incidence of cancer cases is expected to raise the demand for protein drugs and treatments, which favors the market growth over the forecast period.
Moreover, the existence of key market players in the region focusing on developing protein engineering drugs/vaccines and digital platforms, increasing product approvals, and new product launches are providing better treatment options, which are likely to boost the growth of the market. For instance, in December 2022, Ginkgo Bioworks launched Ginkgo Enzyme Services, which is powered by ultra-high throughput screening and machine learning-guided protein design, as well as optimized proprietary bacterial and fungal host strains. Ginkgo's suite offers end-to-end processes for enzyme R&D, providing synergies between enzyme sequence, host strain, manufacturing processes, and protein engineering.
Therefore, the rising burden of chronic diseases, the increasing geriatric population, and increasing product approvals in North America are projected to boost the market growth over the study period.
