Peptide Therapeutics Market 2020: Global Industry Analysis, Size, Share, Growth, Trends And Forecast To 2030
Peptide therapeutics are witnessing substantial demand, owing to increasing application in the treatment of various chronic disease such as cancer, cardiovascular diseases, hematologic diseases, and gastro-intestinal diseases. Rising prevalence of these chronic diseases across the world is further expected to widen the existing patient pool. Therapeutic efficacy of peptide therapeutics is relatively superior as compared to other marketed drugs, resulting in their higher adoption among physicians.
The global peptide therapeutics market was valued at US$ 25.6 Bn in 2019, and is expected to exhibit a healthy CAGR of 11% during the forecast period (2020-2030).
The COVID-19 pandemic has been severely affecting the global economic order, and, in turn, the peptide therapeutics market. Restrictions on traveling, self-quarantines, and social distancing regulations, on a national scale, are resulting in notable drop in business and consumer spending through Q2.
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Key Takeaways of Peptide Therapeutics Market Study
- In terms revenue generation, among the applications, cancer outperformed other application types, owing to greater prevalence of the disease as well as higher efficacy of peptide therapeutics in cancer treatment.
- Various peptide therapeutics are patented, and, in the mid of this decade, a majority of these patents are expected to reach their expiry dates, leading to higher generic competition.
- Parenteral route continues to hold the leading revenue share in the peptide therapeutics market, owing to effective drug delivery and higher therapeutic index.
Key Players Focus on Strategic Collaborations and Generic Launches to Widen Regional Presence
Leading players in the peptide therapeutics market, such as AstraZeneca plc, Merck Co. & Inc., and Elli Lily, are concentrating on business expansions through joint ventures and distribution agreements, and are capturing untapped market potential.
Additionally, market incumbents are entering into collaborations in order to expand their regional presence and manufacturing capabilities in the global peptide therapeutics market.
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