PEGylated Proteins Market is Segmented By Product Type (Consumables, PEGylation Reagents, Monofunctional Linear PEGs, Bifunctional PEGs, Multi-Arm PEGs, Branched PEGs, Other PEGylation Reagents, PEGylation Kits, Services), By Protein Type (Colony Stimulating Factors, Interferons, Erythropoietin, mAbs, Recombinant Factor VIII, Other Protein Type), By End-User (Pharmaceutical & Biotechnology Companies, CROs, Academic Research Institutes), By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031.
PEGylated Proteins Market Overview
PEGylated proteins market size was growing at a CAGR of 6.8 % during the forecast period (2022-2029).
PEGylation is the process of binding or alteration of biological molecules by conjugation with polyethylene glycol is known as PEGylation. PEGylation enhances the stability and solubility of the drug and declines immunogenicity by changing the molecule's electrostatic binding, confirmation, and hydrophobicity.
PEGylated Proteins Market Dynamics
The global PEGylated proteins market growth is driven by the increase in R&D spending of pharmaceutical & biotechnology companies, growth in biologics sector, high prevalence of lifestyle disease, increasing in adoption of protein-based drugs over non-protein-based drugs and increase of protein stability and circulating half-life with the help of PEGylation are the major drivers of market.
Increasing adoption of PEGylated protein-based drugs is expected to hold the largest share in this market segment
Increasing adoption of PEGylated protein-based drugs due to increased stability and circulating half-life, and awareness on strategies to improve protein stability and circulating half-life, are expected to boost the market growth during the forecast period. For instance, Mabwell Bioscience Co., Ltd., in September 2020, began the phase III clinical study to investigate the immunogenicity, safety, and hemostatic efficacy of PEGylated recombinant FVIII (BAX 855) in the patients who were previously left untreated and meet the requirements of being less than 6 years old and have severe hemophilia A. In addition, the increasing adoption of PEGylated protein to treat various chronic diseases will further fuel the market, as the number of people infected with chronic disease is on a rise. According to the World Health Organization, chronic disease prevalence is expected to rise by 57% by the year 2020.
Failures in drug development is likely to hinder the market growth
The development of drugs is a complex and challenging process. The chances of a drug being developed during the first trial are rare as failures in drug development are very prevalent. The overall failure rate in drug development is around 96%, including a 90% failure rate during clinical development. The consequence of an expensive drug failure for pharmaceutical companies ranges from site closures, loss of jobs, and exhausting research and development budgets. Thus, failures in drug development and rising recalls of the therapeutic drugs might hamper the growth of the PEGylated proteins market during the forecast period.
COVID-19 Impact Analysis
The outbreak of coronavirus did not adversely affect the PEGylated Proteins Market. The demand for PEGylated proteins remained unaffected as they fall under necessities. Several research institutes conducted extensive research based on PEGylation technology in 2020. For instance, in a research study published in the Journal of General Virology, 2020, SARS-CoV-2 replication could be inhibited by low concentrations of PEG-IFN-alpha-2a that inhibit MERS-CoV replication in cell culture. The impact of Covid-19 on the PEGylated proteins market was minimal.
PEGylated Proteins Market Segment Analysis
The colony-stimulating factors segment is expected to hold the largest share in this market segment
Colony-stimulating factors are substances that accelerate the production of blood cells and elevate their ability to function. They do not directly influence tumors but have a role in stimulating blood cells, and hence, these factors can be beneficial in supporting a person's immune system during cancer treatment. The increasing incidence of cancer across the globe has increased the demand for this segment, which will fuel the market growth for PEGylated proteins globally. According to Global cancer statistics, 2020, the number of cancer cases globally was estimated to be 19, 292,789, with nearly 9,958,133 deaths due to cancer. Thus, the need for colony-stimulating factors to effectively treat cancer will drive market growth.
PEGylated Proteins Market
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Metrics |
Details |
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Market CAGR |
6.8% |
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Segments Covered |
By Product Type, By Protein Type, By End-User, and By Region |
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Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights. |
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Fastest Growing Region |
Asia Pacific |
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Largest Market Share |
North America |
PEGylated Proteins Market Geographical Analysis
North America region holds the largest market share of global PEGylated proteins market
The North American region is expected to dominate the overall PEGylated protein market throughout the forecast period. The presence of key players, the high prevalence of chronic diseases in the region, established healthcare infrastructure, and growing awareness of advanced treatment options among the American population are key factors for its large share in the market. In this region, the United States holds the largest market share, and the large patient pool in the country is anticipated to stimulate the demand in this region. According to Globocan 2020, nearly 2,281,658 cancer cases were diagnosed in 2020, and cancer led to 612,390 deaths in the United States during the year. Breast cancer accounted for 253,465 new cases in 2020, followed by lung (227,875), prostate (209,512), and colon (101,809) cancers in the United States.
Moreover, the increasing geriatric population and the high incidence of chronic diseases are also expected to play a vital role in the growth of the studied market. According to the Population Reference Bureau’s Population Bulletin: Aging in the United States, the total number of Americans aged 65 and older is projected to nearly double from 52 million in 2018 to 95 million by 2060. Thus, the elderly population is more prone to chronic diseases, which surges the demand for advanced diagnostics and treatment planning.
PEGylated Proteins Market Competitive Landscape
The global PEGylated proteins market is moderately competitive with presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include Merck KGaA, Thermo Fisher Scientific Inc., NOF America Corporation, JenKem Technology USA Inc., Creative PEGworks, and Celares GmbH, Quanta BioDesign, Ltd. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the market. For instance, In August 2021, JenKem Technology provides large scale GMP manufacture of PEG derivatives for Lipid Nanoparticles (LNPs), and related PEG intermediates.
Global PEGylated Proteins Market – Key Companies to Watch
Thermo Fisher Scientific Inc
Overview: Thermo Fisher Scientific is global manufacturer and provider of scientific instrumentation, reagents and consumables, and software and services to healthcare, life science, and other laboratories in academia, government, and industry. The company generated revenue of USD 32.3 billion in 2020, and invested USD 1.2 billion in R&D.
Product Portfolio: It offers thermo Scientific Pierce MS(PEG)n reagents are methyl-terminated, polyethylene glycol compounds (n equals 4 to 24 PEG units) activated as NHS esters for covalent pegylation of primary amines on proteins (e.g., lysines) or assay surfaces.
