Peptide Therapeutics Market Overview and Forecast Analysis up to 2024
Transparency Market Research (TMR) has published a new report titled, ‘Peptide Therapeutics Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027’. According to the report, the global peptide therapeutics market was valued at US$ 25.0 Bn in 2018 and is projected to expand at a CAGR of 7.9% from 2019 to 2027.
- Peptides are the combination of two or more amino acid monomers linked by amide bonds. Researchers has demonstrated that peptide are distinguished from proteins on the basis of size. As a benchmark, molecules with less than 50 amino acids are considered as peptides. Peptides act by binding to specific cell surface receptors and mimics like receptor ligands and help in treatment of diseases by acting on the cell membrane.
- The peptide therapeutics market is currently a booming one, since there has been a decline in non-peptide chemical drugs available in the market. Rise in the patent cliff has anticipated for the growth of the peptides generics market. The CMOs which provide end-to-end service to the biotech pharmaceutical companies are growing due to shift in focus of pharma companies to explore better opportunities in the peptide therapeutics market. Peptides initially had applications only in diagnostics and hormonal therapy; however, with advances in technology, peptides are now being widely applied for therapeutic applications of cancer and chronic metabolic diseases.
- North America dominate the global peptide therapeutics market in 2018and the trend is anticipated to continue during the forecast period. Well established healthcare infrastructure, high priced peptide therapeutics drugs and favorable reimbursement policies and structure accentuate peptide therapeutics market growth in the region.
- Asia Pacific is likely to be a highly lucrative market for the peptide therapeutics market and it is expected to expand at a high CAGR during the forecast period. Vast patient pool, increasing healthcare expenditure and demand for newer advanced therapies are key factors likely to boost peptide therapeutics market in Asia Pacific.
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Surge in Number of Cancer and Other Chronic Disease Patients to Drive Global Peptide Therapeutics Market
- Cancer is the leading cause of death globally. For instance, according to GLOBOCAN2018, in 2018, 3,792,000 number of cancer cases in the Americas, 4,230,000 number of cases in Europe and 8,751,000 cases in Asia
- Chemotherapy, which is the major mode of treatment for cancer, is facing major challenges due to its inability to deliver the correct amount of drug directly. In addition, it affects the normal cells in the body. Therapeutics peptides application in cancer treatment has opened a promising avenue for future growth of peptide therapeutics market
- Besides, surge in prevalence and incidence rate of other chronic conditions such as diabetes, cardiac diseases and immune disorders, owing to increasing geriatric population is projected to propel the global peptide therapeutics market.
Cancer Segment to Dominate Peptide Therapeutics Market
- In terms of application, the global peptide therapeutics market has been segmented into cancer, metabolic, CVD, respiratory, GIT, anti-infective, dermatology, CNS, and renal. The cancer segment dominated the global peptide therapeutics market in 2018and the trend is projected to continue during the forecast period. Rising mortality due to cancer has led to an increase in focus for the development of new drugs and products to combat the situation
Parenteral Segment Hold a Major Share of Global Peptide Therapeutics Market
- In terms of route of administration, the global peptide therapeutics market has been classified into parenteral, oral and others.
- The parenteral segment dominated the peptide therapeutics market. The parenteral route of administration is the most common as it ensures faster and better bioavailability, faster onset time and better treatment outcomes. However, with advances in drug delivery technologies there has been a change in the trend of route of administration of therapeutic peptides.
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Innovative Therapeutics Peptides to Dominate Global Peptide Therapeutics Market
- Based on type, the global peptide therapeutics market has been segmented into innovative and generic. The innovative segment dominated the global peptide therapeutics market in 2018 and the trend is projected to continue during the forecast period. Extensive R&D activities adopted by market players are expected to propel the market growth at an outstanding rate.
- However, expiry of market exclusivity of blockbuster peptide therapeutics drugs over the forecast period is likely to have an impact on the global peptide therapeutics market.
Immunopeptides Segment to exhibit Rapid Growth in Global Peptide Therapeutics Market
- In terms of molecule, Immunopeptide segment is likely to grow at rapid pace during the forecast period owing to rise in use of immunopeptides in the drugs for treatment of cancer and tumors. High prevalence of cancer and surge in incidence rate of new cancer cases is likely to drive immunopeptides market during the forecast period.
- Other peptide therapeutic drugs which are recently introduced or are in late phase of clinical trials are projected to withhold significant share of global peptide therapeutics market by the end of forecast period.
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North America to Dominate Global Peptide Therapeutics Market
- In terms of region, the global peptide therapeutics market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global peptide therapeutics market in 2018, followed by Europe.
- North America accounted for major share of the global peptide therapeutics market in 2018. High disease prevalence, supportive healthcare and payer infrastructure, and hub for key industry players are the major drivers of the peptide therapeutics market in the region.
- The peptide therapeutics market in Asia Pacific is anticipated to expand at a high CAGR from 2019 to2027. Unmet medical needs, untapped nature of the market, huge investment by players, and rise in health care infrastructure are the key factors for market growth in the region
- The global peptide therapeutics market is fragmented in terms of number of players. Key players in the global peptide therapeutics market include Amgen, Inc., Bachem Holding AG, Eli Lilly and Company, F. Hoffmann-La Roche Ltd., GlaxoSmithKline plc, Novartis AG, Pfizer, Inc., Sanofi, Takeda Pharmaceutical Company Limited and Teva Pharmaceutical Industries Ltd.
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