The impact of COVID-19 on the PEGylated Proteins Market is expected to be minimal. According to the research article published in the Journal of Virology Methods, 2020, a protocol for polyethylene glycol (PEG)-mediated precipitation of SARS-CoV-2 stocks without the need for ultracentrifugation was developed, which could help in providing a resource for a wide range of coronavirus based research studies. Additionally, as per the research study published in the Journal of General Virology, 2020, SARS-CoV-2 replication could be inhibited by low concentrations of PEG-IFN-alpha-2a that inhibit MERS-CoV replication in cell culture. Thus, in view of the extensive research activities carried out based on PEGylation technology, the COVID-19 is expected to impact the market, however, the accurate impact is still unclear.

The major factor attributing to the growth of the market increasing prevalence of chronic diseases like cancer, kidney diseases, and rheumatoid arthritis. According to the Centers for Disease Control and Prevention-Chronic Kidney Disease in the United States, 2019 report, 15% of American adults, which is 37 million United States population, is estimated to have Chronic Kidney Disease. Research in the development of various therapeutics for Chronic kidney disease treatment based on PEGylated proteins is of great importance these days. Furthermore, the growing investments in research and development programs by biotechnology and pharmaceutical companies are boosting the market growth. Rising adoption of protein-based drugs over non-protein based drugs wherein pegylation increases the circulation and half-life of the proteins improving the efficacy. However, drug failure and drug recalls are the major drawbacks of market growth.

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Key Market Trends

The Colony Stimulating Factors Segment is Expected to Grow at the Highest Rate in the Forecast Period.

Colony-stimulating factors are substances that accelerate the production of blood cells and elevate their ability to function. They do not directly influence tumors, but though their role in stimulating blood cells, and hence, these factors can be beneficial in supporting a person's immune system during cancer treatment.

According to the research article published in the JCO Clinical Cancer Informatics, 2020, COVD-19 has resulted in the delay in the diagnosis of new cancer cases and also in the delivery of on-time treatment of cancer patients in the United States. Hence, the COVID-19 pandemic is expected to impact the studied segment due to the decrease in cancer care globally.

The market growth of the segment is due to the increasing incidence of cancer across the globe, and the usage of peptide treatment for cancer. According to Globocan 2020, the incidence of cancer cases in 2020 is estimated to be 19, 292,789 cases worldwide, with nearly 9,958,133 deaths due to cancer in 2020. Additionally, the five-year prevalent cases were estimated as 50, 550287 cancer cases by 2020, with 201.0 Age-standardized incidence rate globally. Thus, the high incidence of cancer surges the need for colony-stimulating factors in its effective treatment and thus drives segment growth.

Furthermore, expanded awareness amongst patients and healthcare professionals regarding adverse effects of other methods of cancer treatments such as chemotherapy and radiation therapy is a major factor for growing focus towards alternative therapeutics such as pegylated peptide-based drugs. Hence, the aforementioned factors are expected to positively drive the growth of the Colony Stimulating Factors segment growth over the forecast period.

North America Dominates the Market and Expected to do Same in the Forecast Period

North America is expected to dominate the overall PEGylated protein market, throughout the forecast period. The presence of key players, the high prevalence of the chronic disease in the region, along with established healthcare infrastructure and growing awareness on advanced treatment options among the American population are some of the key factors accountable for its large share in the market. In the North America region, the United States holds the largest market share, the large patient pool in the country is anticipated to stimulate the demand in this region. According to Globocan 2020, nearly 2,281,658 cancer cases were diagnosed in 2020, and cancer led to 612,390 deaths in the United States during the year. Breast cancer accounted for 253,465 new cases in 2020 followed by Lung (227,875), Prostate(209,512), and Colon (101,809) cancers in the United States.

Furthermore, the rising geriatric population and the high incidence of chronic diseases are also expected to play a vital role in the growth of the studied market. According to the Population Reference Bureau’s Population Bulletin: Aging in the United States, the total number of Americans aged 65 and older is projected to nearly double from 52 million in 2018 to 95 million by 2060. Thus, the elderly population is more prone to chronic diseases, which in turn surges the demand for advanced diagnostics and treatment planning.

Furthermore, beneficial government initiatives and an increase in the number of research partnerships are some of the drivers expected to increase market growth.

Competitive Landscape

The PEGylated Proteins market is moderately consolidated and consists of few major players. Some of the companies which are currently dominating the market are Merck KGaA, Thermo Fisher Scientific, Inc., NOF America Corporation, JenKem Technology USA, Inc., Creative PEGworks, Celares GmbH, among others. The companies have been following various strategies such as acquisitions, partnerships, investment in research activities, and new product launches to sustain among the competitors in the global market.

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