On the basis of deployment type, the global protein therapeutics market is segmented into metabolic disorders, immunologic disorders, hematological disorders, cancer, hormonal disorders, and others. The insulin segment is expected to register moderately fast revenue growth rate in the global protein therapeutics market during the forecast period. Monoclonal antibodies are immune system proteins that are created in the lab and used to treat cancer. The monoclonal antibodies segment accounted for largest revenue share in the global protein therapeutics market in 2022 owing to availability, importance and applicability of monoclonal antibodies in the treatment of different chronic disorders. On the basis of product, the global protein therapeutics market is segmented into monoclonal antibodies, insulin, fusion protein, erythropoietin, interferon, human growth hormone and others. Request Free Sample Copy (To Understand the Complete Structure of this Report ) Moreover, high amount of cost involved in manufacturing and development of these protein therapeutics is another factor, which could also restrain market revenue growth. In addition, lack of skilled professionals who could understand these therapeutic standards and procedures is also lacking making it more difficult to use these protein therapeutics. Standards of regulations and possibility of newer rules being implemented have posed a challenge for protein therapeutics across the world. However, stringent regulatory requirements and high development and manufacturing costs are key factors, which could restrain market revenue growth. For instance, according to statistics from the Centers for Disease Control and Prevention (CDC), 17.0% of adults aged 65 and over suffer from Coronary Heart Disease (CHD). These proteins are fast-acting and potent drugs, which have proven to be very effective in treating a wide range of diseases. Ongoing advancements in genetic engineering and biotechnology have facilitated the development of novel and enhanced protein-based treatments. This collaboration combines antibody-drug conjugation and targeted protein degradation technologies to create more effective and specific cancer treatments. to develop Degrader-Antibody Conjugates (DACs) for treating cancer. For example, on 7 September, 2023, Nurix Therapeutics, a biopharmaceutical company, partnered with Seagen Inc. Protein therapies are increasingly utilized to address a spectrum of illnesses and conditions, including cancer, autoimmune diseases, infectious infections, and genetic abnormalities. Rising demand for targeted treatments, rapid advancements in biotechnology and genetic engineering, and increasing Research & Development (R&D) initiatives are key factors driving market revenue growth. 31, 2024 (GLOBE NEWSWIRE) - The global protein therapeutics market size was USD 152.28 Billion in 2022 and is expected to register a rapid revenue CAGR of 7.6% during the forecast period. The review also identified nearly 500 deaths linked to the devices, along with nearly 78,000 injuries and 30,000 malfunctions.Vancouver, Jan. An FDA review of adverse events involving stimulators found that nearly a third were reports of poor pain relief. A recent study found that many patients with stimulators did not reduce their use of opioids, epidurals, corticosteroid injections or radiofrequency ablation and about one in five had complications so severe the devices had to be removed or revised.Ī 2018 study found that SCSs have some of the worst safety records of medical devices tracked by the FDA. and their use is growing – in part because of the belief they’ll reduce the need for opioids and other pain therapies. The devices are surgically implanted near the spine or brain, and emit low-level electrical impulses to block pain signals.Ībout 50,000 spinal cord stimulators (SCSs) are implanted annually in the U.S. Implantable neurostimulators are an invasive treatment of last resort for people with chronic back, leg or head pain. Proclaim XR 7 IPG Model 3662 (Previously known as the ‘Proclaim 7 Elite IPG Model 3662’) Proclaim XR 5 IPG Model 3660 (previously known as the ‘Proclaim 5 Elite IPG Model 3660’) The following devices are included in the recall: Abbott estimates that only about 0.06% of the recalled devices malfunctioned, with 0.03% of them resulting in loss of therapy and additional surgery.
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