According to the latest report by Reports and Data, the Recombinant Non-Glycosylated Proteins Market is expected to reach USD 88.12 billion in 2030 and register a revenue CAGR of 21.3% over the forecast period. The rapid market revenue growth of Recombinant Non-Glycosylated Proteins is due to various factors such as growing geriatric population, increasing incidence of chronic diseases, and shortened regulatory approval process. However, complexities in manufacturing may hamper market revenue growth.
Recombinant Non-Glycosylated Proteins are gaining popularity in the market as safe and effective medications to manage chronic diseases. These diseases, including heart disease, cancer, and diabetes, last for a year or more and can limit daily activities or require ongoing medical attention. Risk factors such as tobacco use, poor nutrition, lack of physical activity, and excessive alcohol consumption often contribute to the development of chronic diseases, which are the leading causes of death and disability.
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The use of biologics has transformed the treatment of immune-mediated diseases. However, the high cost of these drugs and limited patient access pose challenges for revenue growth in the market. Additionally, some physicians have expressed concerns regarding the similarity of Recombinant Non-Glycosylated Proteins. Nevertheless, various studies have demonstrated the safety, efficacy, and interchangeability of biosimilars. Biosimilars are designed to have the same target-binding characteristics as the reference product.
In 2009, the Biologics Price and Competition and Innovation Act was introduced in the US to create a shortened pathway for licensing a biosimilar product. In terms of product type, the recombinant glycosylated proteins segment was the largest revenue contributor in 2021 and is projected to have a higher revenue CAGR during the forecast period. Glycosylation is the process of attaching a carbohydrate to a hydroxyl or other functional group of another molecule to create a glycoconjugate. These products are primarily used in cancer treatment and are expected to experience a surge in demand due to their effective results. The steady demand for these drugs globally for cancer treatment is anticipated to drive revenue growth for this segment.
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Among the disease type segment, the oncology segment accounted for the largest revenue share in 2021 and is expected to register a faster revenue CAGR during the forecast period. Recombinant Non-Glycosylated Proteins have many potential advantages in the treatment of cancer, as they introduce competition into the drug development process. Availability of Recombinant Non-Glycosylated Proteins in the field of oncology has not only reduced the price but also made cancer treatment more affordable and accessible. Healthcare systems across the globe are focusing on reducing the burden of cancer by adopting cost-effective treatment options, which is expected to drive segment revenue growth.
The Recombinant Non-Glycosylated Proteins Market in Europe accounted for the largest revenue share in 2021 due to several factors such as impending patent expiry of biologic products, launch of new Recombinant Non-Glycosylated Proteins, and rising incidence of chronic disorders. Favorable regulatory scenarios and strong presence of market players in the European region are driving the growth of the market.
In conclusion, the Recombinant Non-Glycosylated Proteins Market is growing rapidly due to various factors, such as the increasing incidence of chronic diseases, growing geriatric population, and shortened regulatory approval process. The introduction of biologics has revolutionized the treatment of immune-mediated diseases. However, high costs and limited patient access remain hurdles in market revenue growth. The recombinant glycosylated proteins and oncology segments are expected to witness significant growth due to increasing demand for cancer treatment. The European region is expected to dominate the market due to favorable regulatory scenarios and the presence of strong market players.
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