Growing Cancer Prevalence Fueling Demand for Customized Peptide Synthesis

The growing prevalence of cancer and infectious diseases is fueling the demand for customized peptide synthesis across the world. According to the World Health Organization (WHO), cancer claimed the lives of 9.6 million people all over the world in 2018. Furthermore, the emergence of various new peptide-based products is also propelling the advancement of the customized peptide synthesis market. For example, Biotage AB introduced its new Alstra remote software in September 2018, which assists users in programing the peptide synthesis setup offline, importing peptide synthesis, and executing the synthesis on Initiator + Alstra.

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According to the estimates of the market research company, P&S Intelligence, the value of the customized peptide synthesis market is expected to surge from $268.8 million in 2018 to $390.0 million by 2024. Furthermore, the market is predicted to progress at a CAGR of 6.4% from 2019 to 2024 (forecast period). Equipment and reagents are the most commonly used products for customized peptide synthesis. Between these, the demand for reagents is predicted to rise rapidly in the forthcoming years. This is credited to the mushrooming use of a plethora of reagents, including additives, substrates, buffers, and precipitation agents, for peptide synthesis.

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Geographically, the demand for customized peptide synthesis is expected to rise at the fastest pace in the Asia-Pacific (APAC) region throughout the forecast period. This will be because of the growing adoption of peptides in drug discovery, falling prices of raw materials, rapid technological advancements and innovations, growing research activities in the life sciences domain, and increasing investments being made in R&D projects in the region. In addition, the growing sales of drugs produced from peptides are also encouraging drug producers to develop advanced products for managing and treating chronic illnesses, thereby supporting the advancement of the industry in the region.

Thus, the demand for customized peptide synthesis will soar all over the world in the upcoming years, mainly because of the rising incidence of cancer and infectious diseases and increasing R&D activities in the domain of peptide synthesis.

About P&S Intelligence
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This release was published on openPR.