Protein Therapeutics Market Size, Share, Growth Analysis, By Product Type(Monoclonal Antibodies, Insulin, Vaccines, Growth Hormones), By Application(Oncology, Hematology, Immunology, Metabolic Disorders), By Therapeutic Area(Cancer, Diabetes, Infectious Diseases, Autoimmune Disorders), By Region - Industry Forecast 2024-2031

Global Protein Therapeutics Market size was valued at USD 6.57 billion in 2022 and is poised to grow from USD 6.96 billion in 2023 to USD 11.10 billion by 2031, growing at a CAGR of 6% during the forecast period (2024-2031).

Growing demand for efficient, multi-ailment treatments has led to an increase in protein therapeutics. As chronic illnesses like diabetes, autoimmune disorders, and cancer increase, there is a growing need for protein-based therapies. The prevalence of these diseases has increased due to the rising global ageing population. Small-molecule drugs are not as well-liked as biologics. Due to biologics' superior efficacy, less side effects, and great specificity, they are growing in popularity. The market has expanded due to the most common protein therapy, monoclonal antibodies. Protein engineering and biotechnology developments have propelled market expansion. Researchers and pharmaceutical companies have undertaken the use of advanced technologies to develop more potent protein medicines. Thus, augmenting therapeutic options to invent next-generation biologics like fusion proteins and bispecific antibodies. 

Treatments for cancer involve proteins, particularly monoclonal antibodies. The number of tailored cancer treatments has increased in recent years. The importance of these medicines in the treatment of cancers is growing, as these drugs can kill cancer cells by targeting them and not other healthy tissues of the body. Protein replacement therapies (PRTs) have attracted a lot of attention and development. Organizations and governments all over the world are encouraging research and development of therapies for rare diseases through financial incentives and special designations. In order to address the medical needs of underprivileged patient populations, this tendency has prompted research and development initiatives. Protein treatment is evolving as a result of biosimilar applications. Biosimilars are being released by several original biologics that are losing their patents.