Targeted Protein Degradation Market Size, Share, Growth Analysis, By Application(Small Molecule drug discovery, protein discovery, research applications, and others), By Technology(PROTACs (Proteolysis-Targeting Chimeras), LYTACs (Lysosome-Targeting Chimeras), and SNIPERs (Specific and Non-genetic IAP-dependent Protein ERasers), Molecular glues), By Therapeutic area(Oncology, immunology, genetic disorder and other diseases), By Indication(Breast cancer, lung cancer, leukemia, solid tumors and others), By Region - Industry Forecast 2024-2031

Targeted Protein Degradation Market size was valued at USD 507 million in 2022 and is poised to grow from USD 640.85 million in 2023 to USD 4175.72 million by 2031, growing at a CAGR of 26.40% in the forecast period (2024-2031).

It is considered that the competition within the global Targeted Protein Degradation market will intensify during the forecast period. This can be attributed to the entry of new players into the market and the increasing number of developments that are compatible with Targeted Protein Degradation. Presently, only a few major players are operating within the global market. However, this scenario is expected to change in the forthcoming years as more companies are likely to enter the market and offer their services.As the potential of Targeted Protein Degradation for the development of effective therapies for various diseases is becoming increasingly evident, there is a growing interest in this field. This has led to the entry of new players into the market, ranging from small startups to large pharmaceutical companies. With the increasing investments being made in research and development activities, more companies are expected to enter the market and offer their services, resulting in an intensified competitive landscape. Moreover, the growing number of developments compatible with Targeted Protein Degradation is expected to further increase the competition in the market. As more discoveries are made regarding the efficacy of this approach, it is expected to attract more companies, researchers, and investors to this field, thereby increasing the competition. 'Arvinas, Inc.', 'Bayer AG', 'C4 Therapeutics, Inc.', 'Cellestia Biotech AG', 'Cullgen Inc.', 'Cyrus Biotechnology, Inc.', 'Daiichi Sankyo Co., Ltd.', 'Kymera Therapeutics, Inc.', 'Mirati Therapeutics, Inc.', 'Nurix Therapeutics, Inc.', 'Peptidream Inc.', 'Progenra Inc.', 'Proteolix, Inc.', 'Sanofi S.A.', 'Shield Therapeutics, Inc.', 'Syros Pharmaceuticals, Inc.', 'Takeda Pharmaceutical Company Limited', 'Vivace Therapeutics, Inc.', 'Xencor, Inc.', 'Zenith Epigenetics Ltd.', 'In January 2022, Salarius Pharmaceuticals, a clinical-stage biopharmaceutical company focused on developing novel treatments for sarcomas, pediatric cancers, and other cancers, entered into a definitive agreement with DeuteRx. As per the agreement, Salarius will acquire an oral, small molecule portfolio for targeted protein degradation, including a lead drug candidate previously known as DRX-164, which Salarius has renamed as SP-3164. The acquisition also includes the related patent family, which includes issued composition of matter patents, as well as the opportunity to develop additional cancer-fighting assets in the targeted protein degradation space.'

The market for targeted protein degradation is being driven by several factors, one of which is the high demand for more effective treatments for a variety of diseases. Diseases such as cancer, genetic disorders, and autoimmune diseases have a significant impact on patient health and quality of life, and there is a growing need for treatments that can address the underlying causes of these diseases. Targeted protein degradation has the potential for selectively targeting disease-causing proteins, which could result in more effective treatments with fewer side effects. This approach allows for the development of drugs that can specifically target the proteins responsible for disease while sparing healthy cells and tissues. This high degree of specificity could potentially reduce the risk of side effects and improve patient outcomes. Moreover, the ability to selectively target disease-causing proteins provides a potential solution for previously untreatable diseases, including those that have been considered "undruggable" using traditional methods. This creates new opportunities for drug development and offers hope for patients with few treatment options.

One of the notable trends in the targeted protein degradation market is the growing emphasis on the development of oral drugs. This trend is driven by the increasing demand for more patient-friendly therapies that offer greater convenience and compliance. Oral drugs have a significant advantage over other forms of drug delivery, such as injections or infusions, as they can be easily taken at home and do not require patients to visit hospitals or clinics for treatment. To address this trend, several pharmaceutical companies are investing heavily in the research and development of oral drugs for targeted protein degradation. They are developing drugs that are capable of surviving the digestive tract and reaching the intended targets in the body. These drugs can also be formulated to release slowly in the body, ensuring a sustained therapeutic effect. The development of oral drugs for targeted protein degradation is expected to have a significant impact on patient care and drug development in the coming years. With these drugs, patients can receive effective treatment for a range of diseases from the comfort of their own homes, without the need for frequent hospital visits. Furthermore, the development of oral drugs is expected to increase patient compliance, which is critical for the success of any therapeutic intervention.

The targeted protein degradation market is currently dominated by North America, which holds the largest market share. This is attributed to the presence of numerous pharmaceutical and biotechnology companies in the region, as well as substantial investment in research and development activities.