The ‘Global Peptide Therapeutics Market Growth, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global peptide therapeutics market, assessing the market on the basis of its segments like marketing types, applications, routes of administration, and major regions.
Peptide therapeutics Market Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
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The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2022): USD 33.58 billion
• Forecast CAGR (2023-2028): 7.6%
• Forecast Market Size (2028): USD 52.26 billion
The increasing prevalence of cardiovascular and gastrointestinal disorders spurred by sedentary lifestyles is driving the demand for peptide therapeutics. The growing geriatric population and associated urological disorders are further heightening hospitalisation rates, generating a greater demand for peptide therapeutics in healthcare units. Meanwhile, peptide therapeutics can specifically target cancer cells which makes them ideal for use with chemotherapy drugs. In this regard, the increasing cases of cancer are driving the peptide therapeutics market
According to the World Health Organisation, millions of deaths are attributed to cancer every year. The cost of production of peptide therapeutics is low which is a major advantage expanding the consumer base for the peptide therapeutics market. In addition, oral peptide drugs are witnessing a significant demand among the population base inclined towards minimally invasive treatment procedures. The increasing availability of biosimilars and increasing disposable income of adults are further adding to the market growth.
In terms of regions, North America leads with a significant market share. The increasing prevalence of obesity, rising cases of diabetes mellitus, and technologically advanced healthcare infrastructure are the driving factors of the peptide therapeutics market in the region. In addition, the strong foothold of major drug manufacturers across well-developed economies such as the United States is further propelling the demand for the product.
Peptide therapeutics Industry Definition and Major Segments
Peptide therapeutics refer to peptide-based therapeutics which mimic the functions of naturally occurring peptides in the human body. The functions of naturally occurring peptides include transfer of information from one tissue through the blood to another. In addition, peptide therapeutics are capable of treating diseases, reducing inflammation, enhancing the nutritional value of foods, killing harmful micro-organisms, and reversing aging, among others.
Based on marketing type, the market can be segmented into:
The market can be broadly categorised based on application into:
• Gastrointestinal Disorders
• Metabolic Disorders
• Neurological Disorders
By route of administration, the market has been segmented into:
On the basis of region, the market can be categorised into:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Peptide therapeutics Market Trends
The key trends in the peptide therapeutics market include technological advancements in the healthcare system of emerging economies owing to the rising healthcare expenditure and increasing per capita income. Increasing awareness about the fatalities caused by cancer and other lifestyle-related issues is leading to a greater footfall in hospitals and clinics for diagnosis and treatment, which is leading to a higher demand for peptide therapeutics.
Meanwhile, the increase in research and development spending by the government, aimed towards developing superior peptide drugs to curb the cases of oncological and urological disorders among the geriatrics, are crucial trends in the market. The growth of the biotechnological infrastructure across the emerging economies is further providing impetus to the peptide therapeutics market. Improvements in infrastructure and advancements in analytical techniques facilitates the efficient development of peptide drugs using biological methods.
Over the forecast period, the anticipated expansion of the e-commerce industry is likely to propel the sale of both generic and branded peptide drugs, leading to an increase in market numbers. Pharmaceutical delivery applications enable fast door-step delivery which further increases the access to peptide therapeutics. Furthermore, the market is anticipated to be aided by the enhancement of strategies by major market players aimed towards gaining a competitive edge in the market.
Key Market Players
The major players in the peptide therapeutics market report are:
- Pfizer Inc
- AstraZeneca PLC
- GlaxoSmithKline PLC
- Novartis AG
- Amgen Inc
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
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