Global Peptide Therapeutics Market on the Rise with Advancements in Biotechnology and Increased Demand for Targeted Therapies
SkyQuest projects that the peptide therapeutics market will attain a value of USD 68.4 billion by 2030, with a CAGR of 5.94% over the forecast period (2023-2030).
Westford, USA, June 12, 2023 (GLOBE NEWSWIRE) — The peptide therapeutics market is expanding due to the rising prevalence of some metabolic disorders such as genetic disorders, organ dysfunction and mitochondrial dysfunction. For instance, glucocerebroside storage in macrophages, primarily in bone, bone marrow, liver and spleen, progresses in Gaucher disease (GD), an autosomal recessive lysosomal storage disorder. According to a July 2022 publication in the journal JPHO, there were 1.5 instances of GD for every 100,000 live births worldwide. The prevalence of GD was 0.9 cases per 100,000 people worldwide. There is a rising need for peptide therapies to treat them, propelling the development of the market under investigation due to the high frequency of these metabolic illnesses.
According to SkyQuest, the rising incidence of cancer worldwide and the increasing usage of peptide treatments in cancer treatment are the primary drivers of the market. For instance, according to information from the American Cancer Society’s Cancer Facts & Figures 2022 report the US documented 1.9 million new cancer cases in 2022. As a result, the rising incidence of cancer cases is projected to contribute considerably to the study segment’s growth throughout the forecast period.
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Browse in-depth TOC on “Peptide Therapeutics Market”
- Pages – 213
- Tables – 152
- Figures – 78
Peptides are the small chain amino acids and disease-treating molecules. They are fighting with the infections and helping people to produce hormones. Peptide therapies are the substances which body naturally produces, they have no adverse side effects and are readily absorbed by the body when used in medical procedures.
Prominent Players in Peptide Therapeutics Market
- Eli Lilly and Company
- Pfizer, Inc.
- Amgen, Inc.
- Takeda Pharmaceutical Company Limited
- Teva Pharmaceuticals Industries Ltd.
- Lonza Inc.
- Sanofi
- Bristol-Myers Squibb (BMS)
- AstraZeneca PLC
- GlaxoSmithKline plc (GSK)
- Novartis AG
- Novo Nordisk A/S
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Generic Segment is Anticipated to Grow Due to Increasing Healthcare Expenses
The generic segment is likely to grow fast throughout the forecast period. It is projected that increasing healthcare expenses and federal government healthcare spending will accelerate the adoption of generic pharmaceuticals. The loss of patent protection for many branded pharmaceuticals is also believed to be a significant driver of the generic segment. One of the biggest opportunities for generic drug companies to enter the market with less-priced versions of well-known pharmaceuticals is when a patent expires. But for some novel medications, brand loyalty might impact the sector’s growth.
North America held the maximum market share for peptide therapeutics. The regional market’s growth is primarily related to the development of the biotechnology sector, rising consumer awareness for peptide therapeutic products. Furthermore, the rising government R&D expenditures are anticipated to contribute to peptide treatments’ continued dominance in the forecast period.
Metabolic Segment is Anticipated to Grow Due to Expanding Number of Businesses Providing Outsourced Services
Growing geriatric population prone to metabolic illnesses and the high prevalence of metabolic disorders caused the metabolic segment to lead the market. Peptide therapies are utilized to control the physical metabolic processes such as insulin production and glucose metabolism in the metabolic segment. Peptide therapies can be used to improve or supplement missing hormones or enzymes, change cellular signaling pathways. Owing to the increase in patient pool, the metabolic segment is anticipated to expand rapidly over the next few years.
Asia Pacific is expected to have considerable growth throughout the forecast period because of the region’s high untapped potential, low raw material costs, expanding number of businesses providing outsourced services, burgeoning biotech sector and higher R&D spending. In the near future, it is projected that the market would rise significantly due to decreasing raw material costs and the patent expiration of popular medications.
A comprehensive analysis of the major players in the Peptide Therapeutics market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
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Key Developments in Peptide Therapeutics Market
- New targeted protein degradation therapeutics for challenging the pharmacological targets are expected to be made available in 2022 through a multi-year research partnership and license agreement between Amgen and Plexium, Inc. The multiyear cooperation helps to create fresh molecular glue treatments by utilizing Amgen’s experience in creating multi-specific molecules.
- ISSAR Pharmaceuticals decided to licence out its peptide-based novel chemical compounds with pre-IND filing and a U.S. Patent to make it affordable and widely available for better outcomes in 2021. This was objected at addressing various unmet healthcare requirements of the public.
Key Questions Answered in Peptide Therapeutics Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market’s future growth?
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