(PharmaNewsWire.Com, October 02, 2020 ) The global PEGylated proteins market is expected to reach USD 1,137.8 Million by 2021 from USD 690.6 Million in 2016, at a CAGR of 10.5% between 2016 and 2021.
Increase in R&D spending of pharmaceutical & biotechnology companies, growth in biologics sector, high prevalence of lifestyle disease, increasing adoption of protein based drugs over non-protein based drugs are the primary growth drivers for this market during the forecast period (2016–2021). However, drug failure and recalls may hinder the growth of this market.
The global PEGylated proteins market was dominated by Merck Millipore (U.S.), Thermo Fisher Scientific, Inc. (U.S.), and NOF Corporation (Japan) in 2016. With a broad product portfolio and collaborations and agreements as a key strategy, Merck Millipore held the leadership position in the global PEGylated proteins market in 2016. Merck Millipore signed an agreement with Y-mAbs Therapeutics, Inc. based in New York, U.S. Over the past three years, the company adopted the strategy of agreement & collaboration and acquisition to maintain its leadership position in the global PEGylated proteins market.
Thermo Fisher Scientific, Inc. (U.S.) held the second position in the PEGylated proteins market in 2016. The company has strong geographical presence and mainly focuses on both organic & inorganic strategies such as product upgradation and acquisition to sustain its position in the PEGylated proteins market. For instance, in February 2014, Thermo Fisher Scientific, Inc. announced the acquisition of Life Technologies Corporation. Similarly, in August 2014, Thermo Fisher Scientific upgraded its product portfolio by developing new column chemistry called new hydrophobic interaction column used for separating molecules such as monoclonal antibodies, antibody-drug conjugates (ADCs) and proteins.
The other key players in this market include JenKem Technology USA, Inc. (U.S.), Creative PEGworks (U.S), Celares GmbH (Germany), Quanta BioDesign, Ltd. (U.S.), Biomatrik, Inc, (China), Iris Biotech GmbH (Germany), Laysan Bio, Ltd. (U.S.).
The global PEGylated proteins market is highly evolved, with multiple product segments. An analysis of the market developments between 2013 and 2016 revealed that agreement & collaboration and product launch was the most important growth strategy employed by market leaders in this period. This strategy was adopted by all the players in this market.
The other important growth strategy adopted by players in this market is acquisitions and product upgradation. This strategy was adopted by the market players to enhance their product portfolio and geographic presence. These strategies were adopted by major the players in this market such as Merck Millipore (U.S.), Thermo Fisher Scientific, Inc. (U.S.), NOF Corporation (Japan) between 2013 and 2015.
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