Global PEGylated Proteins Market 2023-2030

Global PEGylated Proteins Market 2023-2030

Global PEGylated Proteins Market Size, Share & Trends Analysis Report Market by Products/ Services (Consumables and Services), by End-User (Pharmaceutical & Biotechnology Companies, Contract Research Organizations, and Academic & Research Institutes), and by Application (Cancer, Autoimmune Diseases, Hepatitis, Multiple Sclerosis, Hemophilia, Gastrointestinal Disorders, and Others) Forecast Period (2023-2030)

The global PEGylated proteins market is anticipated to grow at a considerable CAGR of 1.8% during the forecast period. The increasing prevalence of chronic disorders such as cancer, kidney diseases, and rheumatoid arthritis has created demand for their treatment options; which in turn driving the growth of the global PEGylated proteins market. According to the data from the American Cancer Society 2022, an estimated 1,908,030 new cancer cases were diagnosed in the US in 2022. Moreover, as per the same source, among all cancers, digestive system cancer accounts 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, this will promote the research on protein, thus driving the PEGylated protein market.

The on-going R&D in the field of PEGylated proteins therapeutics by biotechnology and pharmaceutical companies' has driven the global PEGylated proteins market. For instance, in November 2022, Nektar Therapeutics presented 1st preclinical data for NKTR-288 at the 2022 Society for Immunotherapy of Cancer (SITC) Annual Meeting. NKTR-288 is a novel polyethylene glycol (PEG)-the conjugate of interferon-gamma (IFN-γ); it is designed to modify the binding of IFN-γ to its substrates and optimize the duration of IFN-γ signaling. IFN-γ is a cytokine that induces cellular antigen presentation and enhances tumor antigen-specific cytotoxic T-cell response and may have applications in several therapeutic areas, including oncology and infectious diseases.

Further 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. However, the high drug failure rates and drug recalls are the major factors that may restrain the growth of the global PEGylated proteins market.

Segmental Outlook

The global PEGylated proteins market is segmented based on product/ services, end-user, and application. Based on product/services, the market is bifurcated into consumables and services. Based on end-user, the market is sub-segmented into pharmaceutical & biotechnology companies, contract research organizations, and academic & research institutes. Based on application, the market is sub-segmented into cancer, autoimmune diseases, hepatitis, multiple sclerosis, hemophilia, gastrointestinal disorders, other.

Consumables Sub-Segment to Hold a Considerable Share of the Global PEGylated Proteins Market

Among the product/ services, the consumables sub-segment is expected to hold a considerable share of the market. The consumables sub-segment is further bifurcated into PEGlyation reagents and PEGylation kits. The never-ending research activities, product developments, and the need to formulate better drugs as well as drug-delivery mechanisms contribute to continuous consumption of PEGylating consumables, such as kits and reagents, and thus result in high revenue generation. Moreover, the presence of major players with numerous product offerings also drives segment growth.

The advantages and developments in PEGylation technology along with the increasing demand for PEGylated products have caused a huge adoption of consumables. The versatile application of PEG in research and drug development programs has bolstered its usage. Furthermore, various custom PEG conjugation services & product-providing companies are continuously employing consumables for delivering the intended products. The fast depletion of consumables due to an upswing in demand for PEGylated proteins along with the presence of multiple product providers will contribute to revenue generation in the years to come.

Regional outlooks

The global PEGylated proteins market is further segmented based on geography, including North America (the US and Canada), Europe (Italy, Spain, Germany, France, and others), Asia-Pacific (India, China, Japan, South Korea, and others), and the Rest of the World (the Middle East & Africa and Latin America). Among these, the Asia-Pacific region is anticipated to exhibit a healthy growth during forecast period.

Global PEGylated Proteins Market Growth, by Region 2023-2030

Source: OMR Analysis

North America to Hold a Major Share in the Global PEGylated Proteins Market

The presence of key players and availability of well established healthcare infrastructure are some of the key factors contributing to the high share of the regional market. According to the estimates of the American Cancer Society, in 2022, it was expected that 79,000 new instances of kidney cancer are likely to be diagnosed in the US in 2022, including 50,290 cases in males and 28,710 cases in women. The top 10 malignancies for both men and women include kidney cancer. Men have about a 1 in 46-lifetime risk of having kidney cancer (2.02%). For women, the lifetime risk is approximately 1 in 80. (1.03%). Thus, the growing prevalence of chronic diseases in the region is likely to propel the growth of the market.

Furthermore, the cohesive government initiatives and an increase in the number of research partnerships are some of the factors anticipated to drive market growth. For instance, in February 2021, Nautilus merged with Arya III, a special purpose acquisition company (SPAC), with an initial investment of $350 million to ramp up work developing its protein analysis technology for drug discovery and diagnostic applications.

Market Players Outlook

The major companies serving the global PEGylated proteins market include Thermo Fisher Scientific, Inc., Abcam plc, Enzon Pharmaceuticals, Inc., Merck KGaA, and Celares GmbH among others. The market players are considerably contributing to the market growth by the adoption of various strategies, including collaborations, and new product launches, to stay competitive in the market. For instance, In July 2022, The European Medicines Agency's (EMA) Committee for Medicinal Products for Human Use (CHMP) issued a favorable opinion, recommending the approval of doxorubicin hydrochloride (Celdoxome pegylated liposomal) for the treatment of metastatic breast cancer, advanced ovarian cancer, progressive multiple myeloma, and AIDS-related Kaposi's sarcoma.

The Report Covers

Market value data analysis of 2022 and forecast to 2030.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global PEGylated proteins market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market-entry and market expansion strategies.

Competitive strategies by identifying ‘who-stands-where’ in the market.