Bioengineered Protein Drug Market Trends

Growth Drivers

• Growing Prevalence of Cancer – cancer is the main disease that requires bioengineered protein drugs. These proteins are developed in labs to treat cancer cells and supply nutrient lines to nourish other tissues to fight cancer cells. Hence, it has a higher demand for chemotherapies across the globe. For instance, in 2020, approximately 10 million people died on account of cancer while in 2022, around 2 million new cases of cancer were diagnosed in the United States.

• Rising Geriatric Population –According to the American Heart Association (AHA), the occurrence of Cardiovascular disease in men and women in the United States is 75% between the ages of 60 and 79, and 86% over the age of 80. Besides that, the National Health and Nutrition Examination Survey (NHANES) in the United States found that 70% of adults aged 65 and older have hypertension. The elderly population is more prone to get chronic diseases and the rising number of elderly populations across the globe is estimated to drive market growth.

• Increasing Health Spending – The global health expenditure was anticipated to reach around USD 8.5 trillion in 2019 up from 8.5% in 2000. This boom in global health spending is expected to accelerate the development of bioengineered protein drugs over the forecast period.

• Growing Incidences of Diabetes – diabetes is one of the most prevalent chronic diseases that can be treated with bioengineered protein drugs. For instance, around 500 million people across the globe were noticed to be living with diabetes in 2021.

• Rising Cases of Asthma – for instance, in 2019, more than 250 million people were affected with asthma worldwide. On the other hand, around 3,500 people died on account of asthma in 2021 in US.

Challenges

• High Cost of Treatment Associated with Bioengineered Protein Drugs - Treatment of diseases that require the use of bioengineered protein drugs usually costs high owing to the complications involved in the treatment process. As a result, the use of these drugs is not that feasible for countries belonging to low- and middle-income nations. Such a factor is anticipated to affect the growth of the global bioengineered protein drug market.
• Higher Possibility of Unwanted Immune Response Against Themselves
• Membrane Impermeability and Poor In Vivo Stability