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Peptide Therapeutics Market Trends, Top Companies, Share, Growth And Forecast 2033
Peptide Therapeutics Market Trends
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According to The Business Research Company's, The peptide therapeutics market size has grown rapidly in recent years. It will grow from $41.44 billion in 2023 to $45.66 billion in 2024 at a compound annual growth rate (CAGR) of 10.2%. The growth in the historic period can be attributed to increasing incidence of chronic diseases, growing understanding of molecular biology, expanding applications in oncology.
The peptide therapeutics market size is expected to see rapid growth in the next few years. It will grow to $68.83 billion in 2028 at a compound annual growth rate (CAGR) of 10.8%. The growth in the forecast period can be attributed to rising demand for personalized medicine, expanding use in immunotherapy, advancements in peptide delivery systems, emerging peptide targets in infectious diseases, increasing focus on rare diseases. Major trends in the forecast period include technological advancements in peptide synthesis, growing investment and funding, emphasis on peptide drug safety, market expansion in emerging economies, integration of artificial intelligence (AI).
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Market Drivers and Trends:
An increase in the prevalence of chronic diseases is expected to propel the growth of the peptide therapeutics market. Chronic diseases are long-lasting sickness that often cannot be healed, however, they are occasionally curable and controllable. Chronic diseases are increasing due to increased use of tobacco products, poor nutrition, physical inactivity, excessive alcohol use, and others. The use of peptide therapeutics aids in the prevention and treatment of certain chronic diseases. For instance, in January 2023, according to the National Library of Medicine, a US-based agency, the number of people in the US aged 50 and older who have at least one chronic condition would increase by 99.5%, that is 142.66 million, by 2050. Therefore, the increase in the prevalence of chronic diseases is expected to drive the peptide therapeutics market during the forecast period.
Major companies operating in the peptide therapeutics market are focused on introducing advanced solutions, such as cell culture process, to gain a competitive edge in the market. Cell culture process is the process of growing cells outside of their natural environment, under controlled conditions which involves isolating cells of interest from living tissue and subsequently maintaining them. For instance, in June 2023, Evonik Industries AG, a German-based specialty chemicals company launched cQrex KC. cQrex KC is next-generation peptide for biopharma applications designed for cell culture process used in the manufacture of biological drugs. It enables cell culture process developers to optimize cystine supply and increase cell culture productivity. cQrex KC supports the development of vaccines, viral vectors, and cell therapies.
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Major Key Players of the Market:
Pfizer Inc., Jhonson & Jhonson, Abbvie Inc., Novartis AG, Bristol-Myers Squibb Company, AstraZeneca plc, Sanofi SA, GlaxoSmithKline plc, Takeda Pharmaceutical Company Limited, Eli Lilly and Company, Amgen Inc., Novo Nordisk AS, Teva Pharmaceuticals Industries Ltd., Bachem Holding AG, PolyPeptide Laboratories BV, Arcus Biosciences Inc., Anaptys Bio Inc., Endoceutics Inc., Pepscan Therapeutics, Peptech Inc., Peptide Logic Inc., SELLAS Life Sciences Group, Ever Neuro Pharma GmbH, Zealand Pharma AG, PepGen Inc., Pepticom S.A., Arexis AB, Peptide Technologies Corporation, SynPeptide Inc., Peptimmune Inc., Merck & Co Inc.
Peptide Therapeutics Market 2024 Key Insights:
• The peptide therapeutics market size is expected to see rapid growth in the next few years. It will grow to $68.83 billion in 2028 at a compound annual growth rate (CAGR) of 10.8%.
• Rising Prevalence Of Chronic Diseases Propels Growth In The Peptide Therapeutics Market
• Evonik Breakthrough Cqrex Kc Redefines Cell Culture Processes In The Peptide Therapeutics Market
• North America was the largest region in the peptide therapeutics market in 2023
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