The Peptide Therapeutics Market is estimated to be valued at US$ 44,386.9 Mn or Mn in 2023 and is expected to exhibit a CAGR of 6.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Peptide therapeutics are short chains of amino acids linked by peptide (amide) bonds. They are used to treat metabolic disorders, cancer, central nervous system (CNS) diseases, and cardiovascular conditions. Key peptide drugs available in the market are liraglutide, exenatide, calcitonin, cyclosporine, etc. which are used for treating diabetes, osteoporosis, psoriasis, rheumatoid arthritis, and immunodeficiency conditions. Peptide drugs exhibit high specificity, potency, and low toxicity making them ideal for chronic conditions.
Market Dynamics:
The peptide therapeutics market is primarily driven by growing prevalence of chronic diseases such as cancer, metabolic disorders, cardiovascular diseases. According to World Health Organization (WHO) cancer burden rose to 19.3 million new cases and 10.0 million cancer deaths in 2020. cardiovascular diseases accounted for over 17 million deaths globally. Furthermore, rising adoption of peptide-based drugs owing to advantages such as high specificity, low toxicity and rising R&D investment by key players to develop novel peptide therapeutics are also expected to boost market growth over the forecast period.
However, high development cost and regulatory hurdles associated with peptide drugs may hamper market growth. But increasing healthcare expenditure, collaboration between organizations, and technological advancements in peptide engineering for enhanced stability and efficacy of peptide drugs is expected to offer lucrative growth opportunities for market players in the near future.
Segment Analysis
The peptide therapeutics market can be segmented based on type, technology, application and route of administration. By type, cardiovascular disease therapeutics is expected to dominate the market over the forecast period owing to the increasing prevalence of cardiovascular diseases like coronary artery disease, heart failure. The sub-segment held over 20% market share in 2023.
PEST Analysis
Political: Governments across regions are increasingly funding research activities for new peptide drug development. Various regulations have also promoted innovative peptide drug discovery.
Economic: The global peptide therapeutics market size was valued at US$ 44,386.9 Mn in 2023 and is anticipated to exhibit a CAGR of 6.6% during 2023-2030. Growth will be fuelled by rising healthcare spending and demand for cost-effective therapies.
Social: Rising health awareness has resulted in early diagnosis of chronic conditions. Social media is also creating awareness about new peptide drugs which is widening their acceptance among patients.
Technological: Advances in peptide engineering and synthesizing technologies have enhanced research capabilities. Use of in-silico tools and high throughput screening now allows rapid engineering and profiling of potential drug candidates.
Key Takeaways
The Global Peptide Therapeutics Market Size is expected to witness high growth, exhibiting CAGR of 6.6% over the forecast period, due to increasing prevalence chronic metabolic and cardiovascular conditions. Regionally, North America held the largest market share in 2023 owing to presence of major players and high adoption of peptide drugs in the region.
Regional analysis
North America held the largest share of over 35% of global peptide therapeutics market in 2023. This was owing to factors such as presence of major peptide drugs manufacturers, rising incidence of chronic metabolic conditions and developed healthcare infrastructure in the region supporting adoption of new therapeutics.
Key players operating in the peptide therapeutics market are Teva Pharmaceutical Industries Ltd, Novo Nordisk A/S, OPKO Health Inc., Lilly, Hanmi Pharm.Co., Sanofi, Circle Pharma, Pfizer Inc., Novartis AG, PeptiDream Inc., Amgen Inc., AstraZeneca, Bachem Holding AG, CordenPharma International, Ipsen Pharma, Merck KGaA, PolyPeptide Group, Bayer AG.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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