As per the research report, the size of the North America PEGylated Proteins Market is valued at USD 382.88 million in 2023 and estimated to be growing at a CAGR of 9.90%, to reach USD 613.83 million by 2028 during the forecast period 2023 to 2028.
The market for PEGylated proteins in North America is growing due to a wide range of applications and the rising use of PEGylated proteins.
PEGylated protein processes have advanced significantly, allowing for creating more stable and non-immunogenic medicines, which is projected to drive the PEGylated protein market in North America. Because the number of cancer patients is increasing, the technology offers a lot of potential in cancer treatment. According to the World Health Organization, 9.6 million people died from cancer in 2018. In addition, following the PEGylation process, the CCN-family protein can be employed to treat blood cancer. Therefore, it's one of the elements driving the market for PEGylated proteins in North America.
The increasing acceptance of PEGylated protein across the continent has been supported by market expansion. As a result, much research is being done on PEGylated protein to improve drugs and identify new uses for the technology. As a result, the American Food and Drug Administration (FDA) approved around 17 PEGylated proteins. However, as disposable income rises in metropolitan areas, the market's growing pace is leveling off.
The development of novel therapeutics based on PEGylated proteins for treating chronic renal illness is a hot topic these days. Furthermore, biotechnology and pharmaceutical companies are rising their R & D activities, resulting in market expansion.
Protein PEGylation is a sophisticated procedure that necessitates the use of trained personnel. A prominent factor hindering the growth rate of the North American PEGylated proteins market is a scarcity of experts.
Long-term usage of PEGylation protein products in treatment might result in lysosomal disorders syndrome, anti–PEG IgM antibodies, bioaccumulation, and hypersensitivity, all of which threaten the market's expansion.
The most significant market limitations in this region include drug failure and drug recalls.
According to the existing evidence, polyethylene glycol (PEG) poses a risk, as evidenced by the immunogenicity of the PEG and PEG-containing vacuoles in cells reported with PEGylated biologicals. In addition, PEGylation has several drawbacks, including decreased activity and heterogeneity.
This research report on the North America Pegylated Proteins Market has been segmented and sub-segmented into the following categories:
By Protein Type:
Geographically, the North America Pegylated Proteins Market is likely to dominate the global pegylated proteins Market due to the high incidence of chronic diseases and established healthcare infrastructure. In addition, growing awareness of current treatment options among the American people contributes to the market's size.
The U.S Pegylated Proteins Market has the largest market share, and the country's large patient pool is likely to enhance demand. In addition, the United States population has been aging for several decades. Therefore, older people are at an increased risk of chronic diseases requiring advanced diagnostics and treatments. With aging populations and chronic diseases on the rise, the market will grow rapidly.
The Canadian Pegylated Proteins Market is predicted to grow significantly due to the increased prevalence of chronic diseases like cancer, kidney disease, and rheumatoid arthritis is one of the primary drivers of market growth. Chronic kidney disease affects 15% of American adults, or 37 million people, according to the Centres for Disease Control and Prevention's Chronic Kidney Disease in the United States 2022.
Furthermore, favorable government actions and an increase in the number of research partnerships are expected to drive market growth.
KEY MARKET PLAYERS
Promising Companies leading a dominant role in the North America PEGylated Proteins Market profiled in this 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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