Press release
Peptide Therapeutics Market Explores New Growth Opportunities By 2016 - 2024
The global market for peptide therapeutics has been witnessing a substantial rise in its size and valuation since the last few years. The major factors that are driving the growth of this market are the rising prevalence of metabolic disorders and the increasing pool of cancer patients. The technological advancements, resulting in a significant reduction in the production cost of peptide drugs, is also boosting this market remarkably.
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The rise in research activities and development pipeline of peptide drugs is projected to bring significant growth in this market over the next few years. However, the high complexity of peptides may obstruct the manufacturing of peptide drugs over the forthcoming years, reflecting poorly on the overall progress of the market. In 2015, the worldwide market for peptide therapeutics was worth US$21.3 bn. Researchers project the opportunity in this market to expand at a healthy CAGR of 9.10% between 2016 and 2024 and reach a value of US$46.6 mn by the end of 2024.
Cancer Treatment to Surface as Key Application Area of Peptide Therapeutics
Based on the application, the global peptide therapeutics market is classified into cancer treatment, drugs for metabolic disorders, cardiovascular disease (CVD) therapeutics, respiratory disorder therapeutics, gastrointestinal tract (GIT) therapeutics, anti-infective drugs, dermatology therapeutics, central nervous systems (CNS) therapeutics, and renal therapeutics.
With peptides evolving as a potential therapeutic agent for the treatment of cancer, the cancer segment emerged as the key contributor to this market in 2015. The rising mortality rate, caused by cancer, has led to an increased focus of players towards the development of new drugs and products to combat the situation, which is influencing the market substantially. The technological advancements and extensive research and development activities are likely to fuel the uptake of peptide therapeutics for the treatment of cancer over the next few years.
Peptide therapeutics mainly follow two routes of administration: Oral and parenteral. The parenteral segment led the global market for peptide therapeutics in 2015 due to the easy availability of peptide drugs for the parenteral route of administration compared to other routes. However, the oral administration of these drugs is likely to increase significantly over the next few years.
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Continued Dominance of North America in Global Peptide Therapeutics Market
Geographically, the worldwide market for peptide therapeutics has been segmented into North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. North America led the global market with a share of 38.8% in 2015 and is expected to maintain its dominance over the next few years. The advancements in the healthcare infrastructure and the advent of peptide therapeutics as a highly potent drug used in oncology and hormonal therapies are likely to boost the growth of the North America peptide therapeutics market in the near future.
Apart from this, the presence of well-established players in the U.S. is also projected to support this regional market over the forthcoming years. Europe, which stood second in 2015, is also anticipated to witness healthy growth in the years to come.
The global peptide therapeutics market is extremely consolidated in nature. At the forefront of this market are Teva Pharmaceutical Industries Ltd., Takeda Pharmaceutical Co. Ltd., Sanofi, Pfizer Inc., Novartis AG, GlaxoSmithKline Plc, F. Hoffmann-La Roche Ltd., Eli Lilly and Co., Bachem Holding AG, and Amgen Inc.
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