Wellesley, MA (PRWEB) July 23, 2013
According to a new technical market research report, Ubiquitin Proteasome: Global Markets for Research Tools, Diagnostics and Drug Discovery (Report code: PHM066B) from BCC Research (http://www.bccresearch.com), the global ubiquitin proteasome research and development market was valued at nearly $2.9 billion in 2013. BCC Research expects the market to reach more than $5.5 billion by 2018, and register a five-year compound annual growth rate (CAGR) of 14.2% for the period 2013 to 2018.
Ubiquitin proteasome system (UPS) represents one of the most studied and challenging areas in basic and applicable science. The scientists who discovered this cellular phenomenon were awarded the Nobel Prize in Chemistry in 2004. Since then, ubiquitin ligases and proteasome function have become one of the major targets for pharmaceutical and drug development companies. However, despite the accumulation of basic knowledge about the ubiquitination process and proteasome function, progress in drug screening and therapeutic development has been delayed.
Until 2012, there was only one approved product on the market, Velcade (bortezomib), a proteasome inhibitor, and its success for Millennium Pharmaceuticals (a subsidiary of Takeda) as a major blockbuster pushed the industry towards more rigorous research and development. Velcade is a therapeutic treatment for patients with multiple myeloma, a type of bone marrow cancer that can damage one’s immune system.
According to BCC Research, the global market value of Velcade was more than $2 billion in 2012. The market is expected to reach $2.6 billion by 2013 and $4.5 billion by 2018, registering a CAGR of 11.4% for the period 2013 to 2018.
Today, there is new second-generation proteasome inhibitor on the market: Kyprolis, an immunomodulatory therapy marketed by Onyx Pharmaceuticals. The FDA approved Kyprolis in 2012 to treat patients who suffer from multiple myeloma and have received at least two prior therapies including treatment with Velcade. Many analysts predict that sales of this drug will increase dramatically in the next five years, depending on further applications and regulatory approvals. According to BCC Research, the global market value of Kyprolis was $62 million in 2012. This market is expected to reach $260 million by 2013 and further increase to $1 billion by 2018, to register a CAGR of 30.9% for the period 2013 to 2018.
Recent developments in the field of proteasome inhibitors bring new perspective and alternatives that may change the current market. This report details the current state of drug discovery in this field and new technologies in development and describes potential novel commercial venues in diagnostics and drug development. This study discusses the major players, current and future trends, influences, drivers and challenges for each segment, and includes forecasts for the next five years.
This report is intended for business development professionals, entrepreneurs and other investors who need to fully understand and properly evaluate each segment in the market for ubiquitin proteasome drug discovery, diagnostics, and research tools applications.
Read the full story at http://www.prweb.com/releases/2013/7/prweb10941846.htm.
Copyright©2012 Vocus, Inc.
All rights reserved