As per the research report, the size of the Asia Pacific PEGylated Proteins Market is valued at USD 168.94 million in 2022 and estimated to be growing at a CAGR of 12.50%, to reach USD 304.44 million by 2027 during the forecast period 2022 to 2027.
The market for PEGylated protein therapeutics is expected to develop significantly over the forecast period, owing to rising demand for PEGylation, an increase in the number of chronic diseases, and promising pipeline medications. Furthermore, PEGylated compounds also have various benefits, such as a longer half-life, decreased toxicity, lower immunogenicity, and increased proteolytic protection, contributing to the market's growth in the Asia Pacific region. In addition, biotechnology raised the number of lifestyle diseases and the growing demand for efficient therapies and innovations, promoting market growth.
The increased effectiveness of protein-based therapies in contrast to non-protein-based drugs and the increased protein stability are expected to propel the PEGylated proteins market forward in the upcoming years. In addition, PEGylated proteins provide a wide range of applications and benefits over standard therapy. Hence they are widely used. During the forecast period, the overall growth of the APAC PEGylated protein market is likely to be accelerated by ongoing clinical trials done by several pharmaceutical companies and increased demand for disease-specific new treatments.
Furthermore, increasing special designations from regulatory bodies is likely to help the market's overall growth. Furthermore, increased patient and healthcare professional awareness of the negative consequences of existing cancer treatments, such as chemotherapy & radiation therapy, is a significant reason for the rising popularity of alternative therapeutics such as pegylated peptide-based medications.
Drug development is a difficult and time-consuming procedure. Because drug development failures are so common, the chances of medicine being produced during the first trial are slim. The overall failure rate in drug development is roughly 96 percent, with clinical development failing at 90 percent. Pharmaceutical businesses face a variety of consequences resulting from an expensive medication failure, including site closures, job losses, and depleted research and development funds. As a result, setbacks in medication development and increased therapeutic drug recalls could stymie the PEGylated proteins market's expansion over the forecast period.
However, the limited operating revenue potential for research and development of targeted medicines by many pharmaceutical companies and the poor healthcare budgets in this developing country are expected to hamper the Asia Pacific Pegylated Protein market's expansion in the coming years.
This research report on the Asia Pacific Pegylated Proteins Market has been segmented and sub-segmented into the following categories:
By Protein Type:
Geographically, Asia Pacific is expected to be the worldwide market's fastest expanding market due to the widespread use of PEGylated proteins in cancer, blood disorders, and chronic and autoimmune diseases that are likely to fuel market growth in this area.
The India Pegylated Proteins Market is expected to grow at a significant rate due to the vast population base, growth in healthcare infrastructure, and rapid rise in the frequency of chronic disease, and delivers lucrative opportunities for key players.
The China Pegylated Proteins Market is predicted to reach a decent CAGR during the forecast period and is the third-largest player in the market for PEGylated pharmaceuticals.
KEY MARKET PLAYERS
The Top companies leading in the APAC PEGylated Proteins Market profiled in the report are Laysan Bio, Ltd., Iris Biotech GmbH, Biomatrik Inc., Quanta BioDesign Ltd., Cealares GmbH, Creative PEGworks, Jenkem Technology USA Inc., NOF Corporation, Thermo Fisher Scientific Inc., and Merck Millipore.,
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