Peptide Drug Conjugates Market value of US$ 861.12 Million in 2023 | FMI Study
The global peptide drug conjugates market is expected to be worth US$ 861.12 million in 2023 and US$ 5,331.83 million by 2033. Over the forecast period of 2023 to 2033, the predicted growth rate is about 20%. The growth of the market is attributed to the global upsurge in cancer cases and related mortality, strong clinical trial pipeline with peptide drug conjugates (PDCs) and associated side effects of the existing products such as uncontrolled toxicity associated with small molecule chemotherapeutic agents.
According to WHO, cancer is the leading cause of disease related deaths, worldwide. In 2020, around 10.0 million deaths globally and more than 6.0 million deaths in the U.S. were recorded due to cancer. Furthermore, as per cancer.gov, by 2040, the number of new cancer cases patients per year is estimated to reach 29.0 million and the number of cancer-related deaths to 16.0 million. Therefore, rising demand for the novel treatment like PDCs to target uncontrolled cell growth is expected to fuel the peptide drug conjugates market growth.
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Currently, Lutathera (Lu 177 dotatate) and Pepaxto (Melflufen) are the two FDA approved PDCs to treat uncontrolled cell growth. The marketplace has the FDA approved PDC as Novartis’s Lutathera (lutetium Lu 177) indicated for somatostatin receptor-positive gastroenteropancreatic neuroendocrine tumors in adults. Later, in February 2021, Oncopeptides ABs announced the FDA’s accelerated approval for Pepaxto (Melphalan) indicated for the treatment in multiple myeloma. Presence of limited PDCs in space in offering remunerative opportunity for the growth.
Furthermore, presence of robust clinical trial pipeline and expected launch of new PDCs is anticipated to boost the market growth during the forecast period. These can be attributed to the PDC ANG1005 under phase 3 clinical studies for brain tumor, and PDCs BT5528 and BT1718 under phase 2 to clinical studies for lung cancer. CBX-12 is another phase 2 PDC candidate indicated for the small cell lung cancer treatment.
Key Takeaways from the Market Study
- By product, Lutathera segment accounted for the largest share of 80.5% in 2022
- Based on type, therapeutic segment dominated the peptide drug conjugates market with the revenue share of 82.3%.
- North America dominated the global market in 2022 with a revenue share of 45.62%.
- Asia Pacific is expected to witness a growth rate of 27.4% during the forecast period.
“Increasing awareness about current treatment options, favorable reimbursement policies, and improved patient affordability are the factors expected to drive the market growth.,” says an analyst at Future Market Insights.
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Key Market Players
Major players are channelling efforts toward expanding their production capacities to strengthen their market share and cater to the growing demand. Market expansion is anticipated to be aided by the growing number of partnerships and collaborations among key players that are looking to increase their presence in the market. Key players in the Peptide Drug Conjugates market are Novartis AG; Bicycle Therapeutics; AstraZeneca; Cybrexa Therapeutics; Oncopeptides AB; Angiochem Inc.; Innovasium Soricimed Biopharma; and Theratechnologies. Some of the recent key developments among key players are:
- In November 2022, Cybrexa Therapeutics and Exelixis, Inc. announced the collaboration agreement providing Exelixis the right to acquire, first-in-class peptide-drug conjugate (PDC), CBX-12. This initiative is expected to expand its clinical pipeline for targeted drug therapy.
- In December 2021, Coherent Biopharma and WuXi STA announced the strategic partnership agreement to develop their current and future therapeutic drugs including peptide drug conjugates.
More Valuable Insights
Future Market Insights, in its new offering, presents an unbiased analysis of the global Peptide Drug Conjugates market, presenting historical analysis from 2018 to 2022 and forecast statistics for the period of 2023 to 2033.
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Key Market Segments Covered in the Global Peptide Drug Conjugates Market
- Other Pipeline Products
- Therapeutic Peptide Drug Conjugates
- Diagnostic Peptide Drug Conjugates
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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