As per the research report, the size of the Latin America Protein Therapeutics market was estimated at USD 20.55 billion in 2022. It is further forecasted to grow at a CAGR of 7.1% and worth USD 28.96 billion by 2027. It captures 12% of the global market.
Protein therapeutics is most often employed in the treatment of chronic ailments like cancer etc. This market has a huge potential in the coming years.
Growing research and development activities in the protein engineering sector and prominent advancements in the healthcare domain, and Y-O-Y growth in the incidence of the chronic diseases are majorly promoting the protein therapeutics market in Latin American region. Increasing awareness among the consumers regarding the protein therapeutics is another prominent factor driving the market. Vast usage of applications and increasing approvals for the newly launched products and rising awareness regarding the population's protein therapeutics are additionally forecasted to favour the market growth during the forecast timespan. Advantages associated with the protein therapy drugs such as fewer side-effects and high-efficiency are positive signals to the market growth.
However, high costs associated with the protein therapeutics and the huge capital required for the R&D activities are may hamper the market growth to a small extent. Indistinct government schemes and hefty administrative frameworks may act as a great barrier to market growth in the region.
This research report on the Latin American Protein Therapeutics Market has been segmented and sub-segmented into the following categories:
By Product:
By Application:
By Therapeutic Modalities:
By Country:
In 2019, Monoclonal antibodies captured the largest market share. It is projected to remain the top leading segment in the forecast period. It is also the market sub-segment which is anticipated to undergo fastest growth till 2025. However, cancer market sub-category is predicted to grow the fastest in the forecast period. It is second to last in terms of market share but is expected to grow robustly in the forecast period. The Brazilian market is expected to have promising growth in this region with the largest share in the market during the forecast period. New developments have been made across different bioprocessing fields and are used to upgrade efficient processes for generating recombinant proteins, which impel the market growth. Denovo Biopharma, one of the leading industries in applying for precision medicine, has made a statement as it has licensed up with last stage cancer drug Endostatin (DB108), a recombinant protein drug. Mexico and Argentina are expected to have considerable market growth during the assessment period. Growing demand for protein therapy drugs, quick urbanization and high increase in discretionary income, and growing investments from the public and private organizations to develop healthcare infrastructure are likely to escalate the protein therapeutics market growth during the analysis period.
Prominent companies leading in the Latin America Mobile Health Market profiled in the report are Baxter International Inc., Eli Lilly and Company, Abbott Laboratories, Amgen Inc., F. Hoffmann-La Roche Ltd. Other players in the market are Novo Nordisk A/S, Pfizer Inc., Johnson & Johnson, Merck & Co., Inc., and Sanofi.
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