Facts & Factors Predicts that by 2026 the Size of the Peptide Therapeutics Market Grow by 8.5% and Reach USD 42.5 Billion
According to Facts and Factors, the global Peptide Therapeutics market in 2019 was approximately over USD 24 Billion. The market is expected to grow at a CAGR of around 8.5% and is anticipated to reach around USD 42.5 Billion by 2026.
Peptides are formed by combing two or more amino acid monomers using amide bonds. The peptides attach to the specific cell surface receptors to help treat diseases. The peptides were earlier used in diagnostics and hormonal therapy but now it has extensive therapeutic applications of cancer and chronic metabolic diseases.
The growth factor for the demand of the peptide-based therapeutics is the sedentary lifestyle and unhealthy diet that has increased the occurrences of chronic diseases. Furthermore, the growing geriatric population which is prone to various chronic conditions is anticipated to fuel the growth of the global Peptide Therapeutics market. The increasing incidences of cancer and the adverse effects of chemotherapy or radiotherapies help increase the demand for the peptide therapeutics across the globe. Apart from this, the technological advancements and adoption of hybrid technologies help lower costs of peptide therapeutics. The high efficiency and low side effects are the major reason for its high prescription rate. However, the high expenditure on the discovery and development of new therapeutics, off-patent concept, presence of generic or biosimilar peptide therapeutic drugs are likely to hamper the valuation of global Peptide Therapeutics market.
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Market Segment Dominance:
- Innovative peptides held the majority of the market size
The innovative peptides are estimated to dominate the market due to the high funding by large pharmaceuticals in R&D activities and research for the manufacturing of new drugs coupled with the soaring prescription rate.
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- In-house manufacturing is projected to lead the global Peptide Therapeutics market
The in-house manufacturing category accounts for the largest share owing to the escalating stringent government regulations and high outsourcing costs involved in the production of peptide therapeutics. The increasing preference of in-house manufacturing by large pharmaceutical companies due to the presence of proper infrastructure for massive production and advanced technology will help surge the market growth.
- The parenteral route is anticipated to dominate the market
Parenteral route of administration is projected to dominate the global Peptide Therapeutics market. The reason for the supremacy of this route of administration is its quicker delivery of drugs, ease in application, and increasing adoption rate.
- LPPS category exhibits the highest market share in the Peptide Therapeutics market
The LPPS technology is expected to project a large market share on a global level due to the rising demand for pure peptides to develop highly efficient and durable therapeutics.
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- Cancer category led the global Peptide Therapeutics market
The increasing incidences of cancer owing to the unhealthy diet and sedentary lifestyle are the major factor booming the demand for peptide therapeutics. In addition to this, the high requirement for competent and rapid-acting therapeutics, awareness about the adverse effects of chemotherapy and radiation therapy is one of the rendering factors for the growth of the market.
- North America is expected to lead the global Peptide Therapeutics market
North America held the majority of the market share of the global Peptide Therapeutics market in 2018. The dominance of the market in this region is attributed to the growing awareness regarding peptide therapeutics products, high demand for diagnostics in cancer & other diseases, and advancements in the biotechnology industry. Moreover, the escalating R&D spending by the government will also aid in the development of peptide therapeutics in the coming years.
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Some of the major market players in the global Peptide Therapeutics market include Novartis AG, Eli Lilly and Company, Amgen, Inc., Pfizer, Inc., Lonza Inc., Teva Pharmaceuticals Industries Ltd., Sanofi, GlaxoSmithKline plc., Bristol-Myers Squibb, AstraZeneca PLC, Takeda Pharmaceutical Company Limited, and Novo Nordisk A/S.
This report segments the global Peptide Therapeutics market as follows:
Global Peptide Therapeutics Market: Type Outlook Segmentation Analysis
Global Peptide Therapeutics Market: Type of Manufacturers Outlook Segmentation Analysis
Global Peptide Therapeutics Market: Route of Administration Outlook Segmentation Analysis
- Parenteral Route
- Oral Route
Global Peptide Therapeutics Market: Synthesis Technology Segmentation Analysis
- Solid Phase Peptide Synthesis (SPPS)
- Liquid Phase Peptide Synthesis (LPPS)
- Hybrid Technology
Global Peptide Therapeutics Market: Application Segmentation Analysis
- Cardiovascular Disorder
Global Market: Regional Segmentation Analysis
- North America
- The U.S.
- The UK
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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