As per the research report, the size of the Latin America PEGylated Proteins Market is valued at USD 112.02 million in 2022 and estimated to be growing at a CAGR of 11.90%, to reach USD 196.54 million by 2027 during the forecast period 2022 to 2027.
The major market drivers in Latin America have 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.
According to statistics, the PEGylated proteins market is predicted to grow at a CAGR of 10.5 percent, from USD 690.6 million in 2016 to USD 137.8 million in 2021.
Increased R&D spending by pharmaceutical & biotechnology businesses, rise in the biologics industry, high prevalence of lifestyle illness, and increased attention on techniques to improve protein stability and circulation half-life are some of the primary regional drivers for the market.
Another important factor is the growing prospects in emerging markets and top-selling biologics pharmaceuticals that will soon be off-patent, resulting in growth for Latin America in this sector.
The escalating incidence of chronic illnesses such as cancer, kidney disease, and rheumatoid arthritis is driving market expansion. On the basis of study of the Centers for Disease Control & Prevention - Chronic Renal Disease in Mexico, chronic kidney disease affects 15% of American adults or 5 million people.
On the other hand, rising PEGylation process costs and the patent expiration of certain medications are expected to stifle market growth. However, the market's most significant negatives are drug failure and recall.
The government should maintain guidelines for pharmaceutical companies to deliver effective treatments at low prices accessible to the poor.
This research report on the Latin America Pegylated Proteins Market has been segmented and sub-segmented into the following categories:
By Protein Type:
Geographically, the Latin America Pegylated Proteins Market has a moderate share. However, increasing adoption of biologics drugs such as MABs, erythropoietin, & interferon to treat chronic diseases, increased government funding & grants for research activities, and increased R&D spending for drug discovery early stages contribute to this the market's growth.
The Brazil Pegylated Proteins Market is expected to grow significantly in the following years, owing to rising demand for PEGylation, an increase in the number of chronic diseases, and the presence of promising pipeline medications. In addition, PEGylated molecules also have various advantages, such as a longer half-life, decreased toxicity, lower immunogenicity, and increased proteolytic protection, all of which contribute to the market's growth.
The Mexico Pegylated Proteins Market has significant growth in this region due to the development of new therapies based on PEGylated proteins for the treatment of chronic renal disease is becoming increasingly important. Furthermore, biotechnology and pharmaceutical businesses are increasing their spending on inventions programs, encouraging regional market growth.
Furthermore, the growing elderly population and the high prevalence of chronic diseases will propel the market forward. It is expected that the number of population aged 65 and up in the United States is estimated to nearly double by 2060, from 52 million in 2018 to 95 million. As a result, the aged population is increasingly susceptible to chronic diseases, driving up the need for sophisticated diagnostics and treatment plans.
Beneficial government initiatives & rise in the number of partnerships are the two geographical aspects that are predicted to influence growth.
KEY MARKET PLAYERS
Prominent companies leading in the Latin America 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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