Peptide Therapeutics Market: Increasing Prevalence of Metabolic Disorders and Infectious Diseases Drives Market Growth
The peptide therapeutics market was valued at US$ 24,878.55 million in 2019 and is projected to reach US$ 50,003.15 million by 2027; it is expected to grow at a CAGR of 9.2% from 2020 to 2027.
Peptides are naturally occurring biological molecules that play a prominent role in important biological activities. Extensive efforts have been taken in pharmaceutical research and development (R&D) to develop new peptides for the treatment of chronic conditions. Over 7000 naturally occurring peptides have been identified in recent years, which function as neurotransmitters, hormones, ion channel ligands, and growth factors, amongst others to facilitate various human physiologies. The growth of the peptide therapeutics market is mainly attributed to the growing investments on peptide therapeutics and increasing prevalence of metabolic disorders and infectious diseases. However, operational limitations of peptide therapeutics market growth.
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Key finding from the Peptide Therapeutics Market
- Based on type, the peptide therapeutics market is segmented into innovative and generics. The innovative segment held a larger share of the market in 2019; however, the generics segment is estimated to register a higher CAGR during the forecast period.
- Based on route of administration, the peptide therapeutics market is segmented into parenteral, mucosal, oral, pulmonary, and others. The parenteral segment held the largest share of the market in 2019; however, the oral segment is estimated to register the highest CAGR during the forecast period.
- Based on synthesis technology, the peptide therapeutics market is segmented into solid phase peptide synthesis (SPPS), liquid phase peptide synthesis (LPPS), and hybrid technology. The solid phase peptide synthesis (SPPS) segment held the largest share of the market in 2019; however, hybrid technology segment is estimated to register the highest CAGR during the forecast period.
- Based on application, the peptide therapeutics market is segmented into cancer, metabolic disorder, cardiovascular disorder, respiratory disorder, pain, and dermatology. The cancer segment held the largest share of the market in 2019; however, metabolic disorders segment is estimated to register the highest CAGR during the forecast period.
- Eli Lilly and Company, Amgen Inc., TEVA PHARMACEUTICAL INDUSTRIES LTD, Polypeptide Group, EVER Pharma GmbH, Bristol-Myers Squibb Company, Novo Nordisk A/S, Sanofi, AstraZeneca PLC, and Glaxosmithkline PLC are among the leading companies operating in the peptide therapeutics market.
Increasing utilization of peptide molecules for the development of COVID-19 vaccine is estimated to have a positive impact on the market growth. Moreover, extensive support from government authorities for the use of peptides for COVID-19 vaccine development is also anticipated to offer potential opportunity for the adoption of peptides, which will eventually accelerate the growth of peptide therapeutics market.
Increasing Prevalence of Metabolic Disorders and Infectious Diseases Drives Peptide Therapeutics Market Growth
Increasing prevalence of metabolic and infectious diseases is one of the prominent factors expected to drive the peptide therapeutics market. For instance, according to a data published by the Centers of Disease Control and Prevention (CDC) in 2020, an estimated 34.2 million people in the US were suffering from diabetes. In addition, according to the same studies, the prevalence of diabetes is continually increasing as compared to the past decades. In addition, according to a study published by the CDC in 2020, approximately 400 babies are diagnosed with hemophilia each year in the US.
Further, according to a study published by the NIH in 2019, sickle cell anemia affects around 100,000 people in the US and one million people across the globe each year. Further, according to a study conducted by the International Agency for Research on Cancer in 2020, around 19.3 million people worldwide were suffering from cancer. Also, according to the same study, cancer was responsible for around 10 million deaths globally. Besides, according to a data published by the World Health Organization in 2020, cardiovascular diseases are responsible for deaths of around 17.9 million worldwide each year. The applicability of peptide therapies for treatment of viral infections and chronic diseases, such as neurological diseases, cancer, and diabetes, is projected to drive the adoption of peptide therapies as one of the prominent treatment alternatives. This, in turn, would boost the growth of the peptide therapeutics market during the forecast period. For instance, in October 2020, CohBar, Inc., a clinical stage biotechnology company, announced positive results of its study for CB5138 peptide and Nintedanib. The company is evaluating efficacy of CB5138 peptide and Nintedanib combination for the treatment of idiopathic pulmonary fibrosis.
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