Peptide Therapeutics Market to Grow at a CAGR of 10% by 2025
According to the report, peptide therapeutics are gaining traction in the pharmaceutical industry, owing to their cost-effectiveness and efficacy in managing numerous disease indications.
Economic factors, such as government policies for start-up companies in emerging economies, increasing FDI, and increasing healthcare expenditure are also driving the use of peptides in therapeutics. Increasing prevalence of cardiovascular and metabolic disorders is expected to provide an impetus to R&D activities in using peptides as therapeutics.
Emergence of prominent pharmaceutical and biotech companies, high specificity of peptides leading, advanced and strong pipelines, and patent expiries are the other key factors driving the global peptide therapeutics market, according to FMI’s report.
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“Revival of interest in peptides as potential drug candidates because of their low oral bioavailability has been a major factor fuelling growth of the global peptide therapeutics market. Lack of oral efficacy in peptide drug delivery has actually helped researchers to find innovative methods of peptide drug delivery. However, there is still low acceptance among end users; hence, creating awareness could open up opportunities in the market”, said FMI Analyst.
Peptide therapeutics are used for treating prostrate, breast, ovarian and pancreatic cancers. Peptides that are antagonists or agonists of specific receptors in oncology are increasingly being tested at the preclinical stages for their efficacy in cancer treatment. These increasing number of oncology studies indicate that there is an enormous cancer patient pool available globally, which is creating a larger niche for cancer application types in the global peptide therapeutic market.
Increasing commercialisation costs and low oral bioavailability of peptide drugs can impede the demand for peptides during the forecast market.
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On the basis of disease indication, the global peptide therapeutics market is segmented into cancer, cardiovascular, central nervous systems, metabolic disorders, infection, hematological disorders, gastrointestinal disorders, dermatology, respiratory disorders, and endocrinology. The cancer segment accounts for the highest market share currently and is expected to remain the leading segment in terms of value during the forecast period.
In terms of route of administration, parenteral route of administration is expected to hold more than half the global market share, while the oral route of administration is projected to expand at the highest CAGR in terms of value.
By drug type, generic drugs are expected to register an exceptional CAGR during the forecast period, owing to patent expiries of large number of branded drugs.
Region-wise, North America is the largest market, and will remain so during the forecast period as well. Markets in the Americas and Europe collectively accounted for over 75% revenue share of the global peptide therapeutics market in 2015.
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The market in MEA region is projected to exhibit above average CAGR, owing to increase in prevalence of metabolic disorders and increasing number of pharmaceuticals companies in the region.
Key market players covered in this report are AstraZeneca plc, Bachem Holding AG, CordenPharma International GmbH, Eli Lilly and Company, Ipsen S.A, Merck & Co., Inc., Novo Nordisk A/S, PolyPeptide Group and Teva Pharmaceutical Industries Ltd. These players are focusing on enhancing their global and regional presence through strategic mergers & acquisitions through expansion of operations.
Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services, which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights, an aerial view of the competitive framework, and future market trends.
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