Sellbyville, Delaware, April 17, 2018 (GLOBE NEWSWIRE) -- North America and Europe PEGylated Drugs Market is expected to surpass USD 10.5 billion by 2024; according to a new research report by Global Market Insights. Increasing R&D investment of biotechnology & pharmaceutical companies to develop enhanced PEGylated drugs for treatment of various chronic diseases along with rising occurrence of chronic ailments in developed regions will propel PEGylated drugs market growth over the forecast period.
Major advancements in biologics sector including advances in drug antibody conjugates, and immunotherapies will positively impact market growth. Moreover, rising incidences of chronic ailments and increasing death rates associated with cancer in Canada will propel industry growth. However, the side-effects associated with pegylated drugs along with drug failure will impede North America and Europe PEGylated Drugs Market growth over the forecast timeframe.
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Cancer segment held over 60% of the overall market share in 2017 due to growing prevalence of the disease creating a demand for the development of effective drugs. Benefits offered by PEGylated drugs such as reduced proteolytic degradation along with minimized immunogenicity leading to enhanced therapeutic efficacy will propel market growth. Increasing areas of applications as well as rising adoption of PEGylated drugs to treat various types of cancer will stimulate business growth.
Hepatitis segment size was USD 156 million in 2017 and is anticipated to follow a declining trend over the forecast period. However, increasing focus of industry players to develop pegylated drugs used for the treatment of such chronic conditions will contribute to market growth. For instance, launch of Pegasys drug used for treating Hepatitis C in adult patients will fuel market growth.
Browse key industry insights spread across 120 pages with 31 market data tables & 8 figures & charts from the report, “North America and Europe PEGylated Drugs Market” in detail along with the table of contents:
Monoclonal antibodies are anticipated to witness over 12% CAGR over the coming years due to its wide-ranging applications such as, anti-PEG antibodies are used to quantitate numerous PEGylated compounds. Additionally, anti-PEG antibodies can be combined with compound specific to antibody to generate specific and sensitive assays.
Canada PEGylated drugs market will witness over 5.5% CAGR from 2018 to 2024. Increasing prevalence of chronic ailments such as cancer will drive the business growth. As per Canadian Cancer Society, more than two lac people are diagnosed with cancer in 2017 that will surge demand for pegylated drugs in the future. Development and availability of various pegylated drugs including Onivyde, Plegridy, Oncaspar and others for treatment of several chronic ailments are factors accelerating business growth over the forecast timeframe.
Italy PEGylated drugs market was USD 218 million in 2017 and is anticipated to witness 9% CAGR over the coming few years. Increasing usage of peg-interferons for the treatment of Hepatitis C and soaring adoption of PEG-IFN beta-1a injectables for the treatment of patients with multiple sclerosis will foster market growth.
Few notable industry players operating in North America and Europe PEGylated drugs market are Shire Group, UCB, Merck, AstraZeneca, Amgen, Sigma Tau, Biogen, Pfizer and Roche. Industry players attempt to develop enhanced and effective PEGylated drugs for treating chronic conditions. Robust pipeline and ongoing research studies coupled with high R&D investment in PEGylation technology is anticipated to propel industry growth.
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