As per the research report, the size of the Europe PEGylated Proteins Market is valued at USD 229.83 million in 2022 and estimated to be growing at a CAGR of 10.20%, to reach USD 373.53 million by 2027 during the forecast period 2022 to 2027.
Increased pharmaceutical and biotechnology R&D spending, growth in the biologics sector, high prevalence of lifestyle diseases, rising adoption of protein-based drugs over non-protein-based drugs, and increased protein stability and circulating half-life through Pegylation are the major market drivers in Europe.
Some of the market's primary drivers include increased R&D spending by pharmaceutical and biotechnology companies, growth in the biologics market, high prevalence of lifestyle illness, and increased focus on improving protein stability and circulation half-life.
Another key element is developing market expansion and top-selling biologics medications that will soon be off-patent, resulting in new rapid growth for Europe in this area.
Chronic disorders such as cancer, kidney disease, and rheumatoid arthritis are becoming more common, fueling the market growth. Chronic kidney disease affects 10% of adults in Germany, or 5 million people, according to the Centers for Disease Control and Prevention - Chronic Renal Disease.
On the other side, market growth is projected to be hindered by growing Pegylation process costs and the patent expiration of certain drugs. Medication failure and drug recalls, on the other hand, are the market's main drawbacks. Therefore, the government should establish guidelines for pharmaceutical businesses to provide suitable therapies at low prices to the needy.
This research report on the Europe PEGylate Proteins Market has been segmented and sub-segmented into the following categories.
By Protein Type:
Geographically, the Europe Pegylated Proteins Market has the second-largest share of the global pegylated proteins market in terms of geography due to the increased government funding and grants for research activities, as well as increased R&D spending for drug discovery at the early stages, which are all contributing to the regional market's growth. Monoclonal antibodies, erythropoietin, and interferon are examples of biological drugs used to treat chronic diseases.
The U.K Pegylated Proteins Market is anticipated to reach a decent CAGR because of increased demand for Pegylation, an increase in the number of chronic diseases, and the presence of promising pipeline therapies, the market for Pegylated protein treatments is likely to grow significantly in the coming years. In addition, Pegylated molecules also have a longer half-life, lower toxicity, lesser immunogenicity, and improved proteolytic protection, which all contribute to the market's expansion.
The German Pegylated Proteins Market is estimated to grow significantly and lead the European market. The discovery of new therapeutics based on Pegylated proteins for treating chronic renal illness is becoming increasingly essential in nations such as Germany and the United Kingdom. Furthermore, biotechnology and pharmaceutical companies are expanding their investment in research and development, boosting the regional market growth. Germany's population of 65 and older is predicted to nearly double by 2027, from 17 million in 2019 to 84 million.
The France Pegylated Proteins Market is expected to rise as the older population grows and chronic diseases become more prevalent. As a result, the elderly are becoming more sensitive to chronic diseases, necessitating the development of sophisticated diagnostics and treatment programs.
The Spain Pegylated Proteins Market is predicted to grow due to increased awareness about health and pharmacy, economic strength to obtain expensive medicines, and approval of reimbursement schemes regionally at a favorable rate during the projection period.
KEY MARKET PLAYERS
Key players dominating the Europe PEGylated Proteins Market profiled in this report are Quanta BioDesign Ltd., Thermo Fisher Scientific Inc., Merck Millipore, Laysan Bio, Ltd., Iris Biotech GmbH, Biomatrik Inc., Cealares GmbH, Creative PEGworks, Jenkem Technology USA Inc., NOF Corporation,
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