Press release
Global Peptide Therapeutics Market Value to Increase to US$46.6 bn by 2024
According to a TMR analyst, “The global market for peptide therapeutics was pegged at US$21.3 bn in 2015 and is expected to rise to a valuation of US$46.6 bn by 2024. The market is expected to expand at a 9.10% CAGR from 2016 to 2024.”
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The report breaks down the worldwide market for peptide therapeutics on the premise of various market parameters. One among them is the kind of molecule, in view of which, the market has been arranged into somatostatin, natriuretic, vasopressin, calcitonin, and immunopeptide. On account of the expanding use of immunopeptide for the treatment of a few conditions, for instance, tumors and cancers, the immunopeptide segment has been enlisting a higher development than others.
Since the treatment of these maladies is complex, more ventures is being made by the key market players in innovative development of various different treatments, among which the immuno treatment is the most supported one. This, thus is foreseen towards positive development of the immunopeptide segment soon, takes note of the investigation.
Region-wise, the report sections the overall market for peptide therapeutics into the Middle East and Africa, Europe, North America, Latin America, and Asia Pacific. In 2015, North America procured the main position in the worldwide market with a share of over 38.8%. It is anticipated that this region will hold its position over the time of the conjecture, because of the infrastructural headways in the healthcare and medical industry. The rise of peptide therapeutics as an exceptionally intense medications for the treatment of malignancy and different ailments and the prevalence of market leaders in the U.S. are additionally anticipated to help the North America market for peptide therapeutics in the coming years.
The core reason behind the substantial growth of the global market for peptide therapeutics is the growing prevalence of cancer. As indicated by the WHO, almost 7 million individuals face death from cancer consistently and there will be more than 16 million new growth cases each year by 2020. Since chemotherapy is confronting significant difficulties because of its powerlessness to convey the right measure of medication directly, the utilization of peptides in tumor treatment has expanded, opening new roads for future development.
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Going ahead, the rising rate of metabolic issue is probably going to make lucrative prospects for the players operating in the global peptide therapeutics market in the years to come. In any case, the absence of administrative models may confine the market from developing throughout the forecast period.
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