The global Peptide Therapeutics Market is estimated to be valued at US$ 44,386.9 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 bonds. They are utilized for various therapeutic applications such as cancer, metabolic disorders, cardiovascular disease, and others due to their high specificity, low toxicity, and better safety profile as compared to protein drugs.
Market key trends:
One of the key trends in the peptide therapeutics market size is the rise in acceptance and utilization of peptide-based drugs for various therapeutic applications. Peptide drugs offer several advantages over conventional small molecule drugs such as high target specificity, low toxicity, and better tolerability. They can be tailored to bind to receptor targets with high affinity and selectivity. In addition, modifications in peptide sequence allow manipulation of pharmacokinetic properties for desired drug release profiles. This has led to an increase in pipeline and marketed peptide drugs across various therapeutic areas in recent years.
SWOT Analysis
Strength: Peptide therapeutics have advantages like high selectivity, high potency and low toxicity. They can be designed and synthesized as per requirement.
Weakness: Peptide drugs development requires complex synthesis which increases costs. Peptides have short half-life due to rapid hepatic and renal clearance requiring frequent administration.
Opportunity: Growing incidences of metabolic, cardiovascular, infectious diseases and cancer creates demand for effective therapeutics. Technological advancements is enabling development of novel peptide drugs.
Threats: Stringent regulatory processes for approval delays market entry. Established small molecule drugs competition limits market potential of new peptide drugs.
Key Takeaways
The global Peptide Therapeutics market is expected to witness high growth, exhibiting CAGR of 6.6% over the forecast period, due to increasing prevalence of chronic diseases. Peptide therapeutics are highly selective and effective for treatment of various conditions.
Regional analysis: North America dominated the global peptide therapeutics market in 2023 and is expected to continue its dominance over the forecast period. This is attributed to growing research activities for development of novel peptide drugs and presence of major players in the region. However, Asia Pacific is anticipated to exhibit fastest growth rate owing to rising healthcare spending, increasing affordability and growing awareness.
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.
