28 March 2023 - - The global bioengineered protein drugs market was estimated to have been worth USD 327.6bn in 2021, according to a report from Dublin-based Research and Markets.

Between 2022 and 2027, the bioengineered protein drugs market is predicted to grow at a compound annual growth rate of 8%, leading to a market value of USD 521.3bn in 2027.

An aging population with a myriad of chronic diseases, the need for more effective and targeted therapeutics, and continuous innovation in bioengineered protein drugs are driving the bioengineered protein drugs market.

Bioengineered protein drugs are widely used due to their high specificity, enhanced efficacy, affinity, solubility, and low toxicity.

Advances in protein synthesis have increased the complexity of bioengineered proteins being produced for therapeutic purposes.

Continued development in protein drug manufacturing technologies, growing incidence of chronic diseases, the larger elderly population, improved protein-based drug efficacy, and advancements in drug delivery systems will boost the bioengineered protein drugs market. Innovations in protein drugs are accelerating quickly.

For example, in the last two years (2021 and 2022), 43 of 112, or 38.4% of all novel drug and biological product approvals, were for bioengineered protein drugs.

The presence of high unmet needs and the vast potential for innovation offers tremendous growth potential for the market.

The cost of developing and producing bioengineered protein drugs is dramatically higher than for conventional (small molecule) medications and involves lengthy complex manufacturing processes and stringent regulatory requirements.

The market is less susceptible to generic competition than small molecule drugs.

Large molecule or protein drugs do not have the same kind of generic competition as small molecule drugs and have a longer shelf-life in terms of patent protection.

Over the past three decades, bioengineered protein drugs have revolutionized the treatment of infectious diseases, cancer, and chronic immunological diseases.

Pharmaceutical manufacturers are focused on developing and manufacturing novel bioengineered protein drugs for cancer, autoimmune disorders, and other life-threatening disease treatments.

This is evidenced by the growing competition in the bioengineered protein drugs market.

This report aims to provide a comprehensive study of the global market for bioengineered protein drugs, both in terms of quantitative and qualitative data, to help readers develop business/growth strategies, assess the market landscape, analyze their position in the current marketplace and make informed business decisions regarding bioengineered protein drugs.

Segmentation is based on the drug type, disease type, and region.

Industry growth drivers, restraints, trends, and opportunities in bioengineered protein drugs are also discussed in detail.

The report also provides information on the bioengineered protein drug market competitive landscape, features detailed company profiles, and discusses the impact of COVID-19 on the market.