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Biosimilar Therapeutic Peptides Market Trends, Key Drivers, Opportunities, Leading Players And Forecast To 2033
Biosimilar Therapeutic Peptides Market Overview
The Business Research Company presents an extensive market research report on the Biosimilar Therapeutic Peptides Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The biosimilar therapeutic peptides market size has grown exponentially in recent years. It will grow from $2.06 billion in 2023 to $2.68 billion in 2024 at a compound annual growth rate (CAGR) of 30.3%. The growth in the historic period can be attributed to increasing demand for cost-effective therapeutics, regulatory support and frameworks, patent expirations of biologic drugs, rising incidence of chronic diseases, established manufacturing processes.
The biosimilar therapeutic peptides market size is expected to see rapid growth in the next few years. It will grow to $4.87 billion in 2028 at a compound annual growth rate (CAGR) of 16.1%. The growth in the forecast period can be attributed to expanding therapeutic applications, global aging population, market competitiveness, strategic collaborations and partnerships, patient preference for non-invasive therapies. Major trends in the forecast period include advancements in biotechnology, increasing demand for biologics, technological innovations in manufacturing, focus on cost-efficiency and access to healthcare, technological advancements.
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Key Market Players:
Major companies operating in the biosimilar therapeutic peptides market report are Pfizer Inc., F. Hoffmann-La Roche Ltd., Merck & Co. Inc., Novartis AG, Sanofi SA, AstraZeneca plc, GlaxoSmithKline plc, Takeda Pharmaceuticals Co. Ltd., Eli Lilly and Company, Amgen Inc., Novo Nordisk A/S, BioXpress Therapeutics SA, Apotex Inc., Teva Pharmaceuticals Industries Ltd., Sandoz International GmbH, Lonza Inc., Stada Arzneimittel AG, Ipsen S.A, Biocon Biopharmaceuticals Pvt. Ltd., Dr. Reddy's Laboratories Ltd., Alvogen Pharma US Inc., Corden Pharma GmbH, Bachem Holding AG, PolyPeptide Laboratories Ltd., PeptiDream Inc., Coherus BioSciences Inc., Celltrion Inc., Hyperion Therapeutics Inc., BioPartners Inc., Samsung Bioepis Co. Ltd.
Market Drivers:
The increasing ageing population is projected to surge the number of patients with chronic diseases, contributing to the biosimilar therapeutic peptides' market's growth. Elderly people are more prone to various chronic diseases, which are surging the old age population rapidly across the world and is predicted to continue over the forecast period. According to the World Health Organization (WHO), the world's population over the age of 60 is expected to reach 2 billion by the end of 2050. Moreover, according to the World Population Prospects, the number of people aged 80 and above is likely to increase from 143 million in 2019 to 426 million in 2050. Biosimilar therapeutic peptides are used for the treatment of various chronic diseases and cancers. The expected increase in the ageing population suffering from various chronic conditions will drive the growth of biosimilar market.
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https://www.thebusinessresearchcompany.com/report/biosimilar-therapeutic-peptide-global-market-report
The biosimilar therapeutic peptides market covered in this report is segmented -
1) By Type: Innovative, Generic
2) By Route Of Administration: Parenteral Route, Transdermal Route, Other Route Of Administrations
3) By Application: Cancer, Cardiovascular, Central Nervous Systems, Metabolic Disorders, Infection, Hematological Disorders, Gastrointestinal Disorders, Dermatology, Respiratory Disorders
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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