PROTAC Market SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024 - 2031)
PROTAC Market is segmented By Type (Heterobifunctional PROTAC, Molecular Glues, Others), By Application (Drug Discovery and Development, Cancer Research, Neurodegenerativ ....
PROTAC Market Size
Market Size in USD
CAGR25.1%
| Study Period | 2024 - 2031 |
| Base Year of Estimation | 2023 |
| CAGR | 25.1% |
| Market Concentration | High |
| Major Players | Arvinas, Celgene, Nurix Therapeutics, Hinova Pharmaceuticals, Dialectic Therapeutics |
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PROTAC Market Analysis
The Global PROTAC Market is estimated to be valued at USD 0.40 billion in 2024 and is expected to reach USD 2.59 billion by 2031, growing at a compound annual growth rate (CAGR) of 25.1% from 2024 to 2031.
The PROteolysis Targeting Chimera (PROTAC) market is rapidly growing, driven by its innovative approach to targeted protein degradation, offering new therapeutic strategies for diseases that are difficult to treat with traditional drugs. PROTACs are bifunctional molecules that use the body’s natural protein degradation system to remove disease-causing proteins, presenting a novel mechanism of action compared to conventional therapies. The market has been witnessing significant growth over the past few years due to the rising prevalence of chronic diseases such as cancer and neurodegenerative disorders, where conventional therapies often fail due to drug resistance. PROTAC technology provides a promising solution by enabling the selective degradation of target proteins, which can help overcome resistance mechanisms. Investments from major pharmaceutical companies and advancements in drug discovery platforms further propel the market growth.