Press release
Increase in elderly population and rise in cases of chronic diseases are fueling growth of Peptide Therapeutics Market
Peptide therapeutics can be designed to mimic natural peptides that are already present in the body, or they can be engineered to have specific properties, such as increased stability or improved binding to their target.
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Peptide therapeutics are used to treat a wide range of conditions, including cancer, diabetes, autoimmune diseases, and infectious diseases. Some examples of peptide therapeutics include insulin, which is used to treat diabetes, and liraglutide, which is used to treat obesity.
The peptide therapeutics market was valued at $33.3 billion in 2021, and is estimated to reach $64.3 billion by 2031, growing at a CAGR of 6.8% from 2022 to 2031.
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The peptide therapeutics market has been steadily growing in recent years and is expected to continue to do so in the future.
The growth of the peptide therapeutics market can be attributed to several factors. One of the main drivers is the increasing prevalence of chronic diseases such as cancer and diabetes, which require long-term treatment with targeted therapies.
Peptide therapeutics are well-suited for these types of treatments because they can be designed to target specific biological pathways and have fewer side effects than other types of drugs.
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Key findings of the study
• By application, the metabolic segment was the highest contributor to the peptide therapeutics industry in 2021.
• By route of administration, the parenteral segment was the highest contributor to the peptide therapeutics industry in 2021.
• Depending on distribution channel, the hospital pharmacies segment was highest contributor in 2021, and is expected to continue this trend during the forecast period.
• Region wise, North America garnered the largest revenue share in 2021, whereas Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.
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