Cancer to be Major Contributors to Peptide Therapeutics Market Growth in Coming Years
According to our new research study on “Peptide Therapeutics Market Forecast to 2027 – COVID-19 Impact and Analysis – by Type, Route of Administration, Synthesis Technology, and Application,” the peptide therapeutics market is expected to reach US$ 50,003.15 million by 2027 from US$ 24,878.55 million in 2019; it is estimated to grow at a CAGR of 9.2% from 2020 to 2027. The report highlights trends prevailing in the market, and the factors driving and hindering the market growth. The growth of the peptide therapeutics market is mainly attributed to the growing investments on peptide therapeutics and increasing prevalence of metabolic disorders and infectious diseases. However, operational limitations of peptides deter the market growth.
Peptides are naturally occurring biological molecules that play a prominent role in important biological activities. There are extensive efforts have been taken in pharmaceutical research and development (R&D) to innovate new peptides for the treatment of chronic conditions. Over 7000 naturally occurring peptides have been identified in recent years, which have crucial roles in human physiology, including actions as neurotransmitters, hormones, ion channel ligands, and growth factors, amongst others.
Based on application, the peptide therapeutics market is segmented into cancer, metabolic disorder, cardiovascular disorder, respiratory disorder, pain, and dermatology. In 2019, the cancer segment held the largest market share. Increasing number of research and development activities coupled with peptide-based drug launches for cancer treatment is anticipated to contribute to the segment growth. However, metabolic disorders segment is estimated to register the highest CAGR of 9.9% during the forecast period.
Increasing utilization of peptide molecules for the development of COVID-19 vaccine is estimated to have a positive impact on the market growth. Moreover, extensive support from government authorities for the use of peptides for COVID-19 vaccine development is also anticipated to offer potential opportunity for the adoption of peptides, which will eventually accelerate the growth of peptide therapeutics market.
Eli Lilly and Company, Amgen Inc., TEVA PHARMACEUTICAL INDUSTRIES LTD, Polypeptide Group, EVER Pharma GmbH, Bristol-Myers Squibb Company, Novo Nordisk A/S, Sanofi, AstraZeneca PLC, and Glaxosmithkline PLC are among the leading companies operating in the peptide therapeutics market.
The report segments peptide therapeutics market as follows:
By Route of Administration
By Synthesis Technology
- Solid Phase Peptide Synthesis (SPPS)
- Liquid Phase Peptide Synthesis (LPPS)
- Hybrid Technology
- Metabolic Disorder
- Cardiovascular Disorder
- Respiratory Disorder
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