As per the research report, the size of the Middle East and Africa PEGylated Proteins Market is valued at USD 58.39 million in 2022 and estimated to grow at a 6.75% CAGR, to reach USD 80.94 million by 2027 during the forecast period 2022 to 2027.
The major market drivers in the Middle East and Africa 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.
Increased R&D by pharmaceutical & biotechnology businesses, rise in the biologics market, high prevalence of lifestyle illness, and increased attention on techniques to improve protein stability and circulation half-life are some of the market's significant drivers.
Another critical factor is the growing prospects in emerging markets and top-selling biologics pharmaceuticals that will soon be off-patent, resulting in rapid growth for the Middle East and Africa in this sector.
The rising frequency of chronic illnesses like cancer, kidney disease, and rheumatoid arthritis is a significant market expansion.
Furthermore, rising Pegylation process costs and the patent expiration of certain medications are projected to stifle market growth. However, the market's most significant negatives are drug failure and recall.
The government should maintain guidelines for pharmaceutical players to deliver effective treatments at low prices accessible to the poor.
This research report on the MEA PEGylated Proteins Market has been segmented and sub-segmented into the following categories.
By Protein Type:
Geographically, the MEA Pegylated proteins market has a moderate share globally due to the increasing adoption of biologics drugs such as monoclonal antibodies, erythropoietin, and interferon for treating chronic diseases contributing to the market’s growth.
The UAE pegylated proteins market is predicted to grow significantly due to the increased government funding and grants for research activities, and increased R&D spending for drug discovery at the early stages drives the market's growth in this region.
The Saudi Arabia pegylated proteins market is expected to reach a decent CAGR owing to rising demand for Pegylation, an increase in the number of chronic diseases, and the presence of promising pipeline medications. In addition, some Pegylated molecules 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 Kuwait pegylated proteins market is projected to grow at a decent CAGR 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.
The South African pegylated proteins market is influenced by the growing elderly population, and the high incidence of chronic diseases is likely to propel the market forward. As a result, the senior population is increasingly susceptible to chronic diseases, driving up the need for sophisticated diagnostics and treatment plans.
Government initiatives and increasing partnerships are two other geographical aspects predicted to influence growth.
KEY MARKET PLAYERS
Leading companies dominating the MEA PEGylated Proteins Market profiled in the report are Laysan Bio, Ltd., Iris Biotech GmbH, Biomatrik Inc., NOF Corporation, Quanta BioDesign Ltd., Cealares GmbH, Creative PEGworks, Jenkem Technology USA Inc., Thermo Fisher Scientific Inc., & Merck Millipore.,
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