Market Size of Global PEGylated Proteins Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR (2024 - 2029) | 9.30 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
PEGylated Proteins Market Analysis
The Global PEGylated Proteins Market is expected to register a CAGR of 9.30% during the forecast period.
The PEGylated proteins market is expected to register a CAGR of 9.3% over the forecast period.
The impact of COVID-19 on the PEGylated proteins market was moderate. According to the study published in Biomaterial in June 2021, PEGylated nanoparticle albumin-bound (PNAB) -steroidal ginsenoside can effectively lower histone H4 and NETosis-related factors in the plasma and ameliorate SREBP2-mediated systemic inflammation in SARS-CoV-2 ICU patients. PNAB-steroidal ginsenoside medications may be useful in treating symptoms associated with severe SARS-CoV-2 patients, such as coagulation and cytokine storm. Furthermore, according to an article published by PubMed Central in August 2021, a phase III clinical trial showed the efficacy and safety of pegylated interferon alpha-2b (PEG IFN-α2b) in patients with moderate COVID-19 infections. Thus, given the extensive research activities based on PEGylation technology, the COVID-19 pandemic impacted the market moderately; however, as the pandemic has subsided currently, the studied market is expected to have stable growth during the forecast period of the study.
The major factor attributing to the growth of the market is the increasing prevalence of chronic diseases like cancer, kidney diseases, and rheumatoid arthritis. According to the data from the American Cancer Society 2022, an estimated 1,908,030 new cancer cases are expected to be diagnosed in the United States in 2022. Moreover, as per the same source, among all cancers, digestive system cancer is expected to account for 343,040 cases, breast cancer is expected to account for 290,560 new cancer cases, followed by respiratory system cancer, with 254,850 new cases in 2022. Additionally, as per the Global HIV and AIDS Statistics, 2022 fact sheet by UNAIDS, 38.4 million people globally were living with HIV in 2021. Thus, with the growing burden of chronic and infectious diseases such as cancer, HIV, tuberculosis, and others globally, the demand for developing medicine is also expected to increase, which will boost the research on protein, thus driving the PEGylated protein market.
Furthermore, biotechnology and pharmaceutical companies' growing investments in research and development programs are boosting the market growth. For instance, in March 2022, Flow Eighteen38, a protein sciences division created to facilitate and accelerate antibody characterization and protein purification projects, announced a EUR 5 million (USD 5.58 million) investment into its protein production and biophysical characterization capabilities and services from its parent company, CRO FairJourneyBiologics S.A. In addition, there is rising adoption of protein-based drugs over non-protein-based drugs wherein PEGylation increases the circulation and half-life of the proteins, improving the efficacy.
Therefore, the factors above, such as the growing burden of chronic and infectious diseases such as cancer, HIV, tuberculosis, and others globally, and the growing investments in research and development programs by biotechnology and pharmaceutical companies, the market is expected to experience growth. However, the high drug failure rates and drug recalls are the major factors impeding the market's growth.
