What’s The Growth Forecast For Protein Inhibitors Market Through 2023-2032?
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According to The Business Research Company’s 2023 report, the global protein inhibitors market will rise from $68.17 billion in 2022 to $74.3 billion in 2023, with a 9.0% CAGR. The market is projected to reach $105.43 billion in 2027, growing at a 9.1% CAGR.
What was the major driver in the protein inhibitors market?
Rising chronic disease prevalence is forecasted to drive the protein inhibitors market’s growth. Diseases like cancer, cardiovascular ailments, and autoimmune conditions are increasingly common. By May 2022, the World Health Organization projected chronic diseases to become the seventh leading global cause of death by 2030. In the USA, 157 million people were affected in 2020, with 87 million experiencing multiple conditions. Protein inhibitors, known for their lower side effects and enhanced efficacy, are used to treat these diseases. Consequently, the growing chronic disease population is expected to boost the demand for protein inhibitors, fostering market growth.
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What was the key trend in the protein inhibitors market?
Protein inhibitor market firms increasingly engage in strategic moves like partnerships and collaborations to meet drug demand. Such alliances expand product portfolios and global reach. In February 2020, Catalent partnered with Zumutor Biologics to manufacture ZM008, targeting solid tumors. In February 2021, Eli Lilly and Rigel Pharmaceuticals entered an exclusive license and collaboration deal to develop and commercialize R552, a RIPK1 inhibitor, across various indications, including autoimmune and inflammatory diseases.
Which was the largest region in the protein inhibitors market?
North America was the largest region in the protein inhibitors market in 2022. The regions covered in the global protein inhibitors market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Who are the protein inhibitors market prominent players?
Major players in the protein inhibitors market are Bayer AG, Astra Zeneca, Roche, Teva, Apotex, Novartis, GlaxoSmithKline, Pfizer, Boehringer Ingelheim, and F. Hoffmann-La Roche.
Key protein inhibitors market segments
The global protein inhibitors market is segmented –
1)By Product: Protein Kinase Inhibitors, Monoclonal Antibody, Other Products
2) By Application: Oncology, Inflamatory Diseases, Other Applications
3) By Distribution Channel: Hospital Pharmacies, Independent Pharmacies, Online Pharmacies
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