The Peptide Therapeutics Market is estimated to be valued at US$ 44,386.9 Mn in 2023 and is expected to exhibit a CAGR of 6.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
The Peptide Therapeutics Market Overview:
Peptide therapeutics are protein therapy treatments used to treat various medical conditions like cancer, metabolic disorders, cardiovascular diseases etc. Short-chain peptide molecules can be customized and manufactured precisely for optimal potency, stability and safety as compared to conventional large protein therapeutics. They have minimal side effects and are easily absorbed by the body.
The Peptide Therapeutics Market key trends:
One of the major trends driving the peptide therapeutics market growth is rising prevalence of metabolic disorders globally. As per International Diabetes Federation estimates, the global prevalence of diabetes is expected to reach 643 million people by 2030 and approximately 1 in 2 of adults may have diabetes by 2050. Peptide therapeutics offer efficient treatment options for diseases like diabetes, obesity etc. with minimal side effects. Biosynthesis of peptide molecules allows development of customized therapies. Technological advancements in peptide engineering have enabled design of novel therapeutics for a wide range of once incurable chronic diseases augmenting market opportunities.
Porter's Analysis
Threat of new entrants: New entrants face high development and regulatory costs associated with developing peptide therapeutics. Bargaining power of buyers: Large pharmaceutical companies have significant bargaining power over small peptide manufacturers. Bargaining power of suppliers: Peptide synthesis suppliers have some bargaining power due to specialized knowledge and production capabilities. Threat of new substitutes: Alternatives like small molecule drugs and biologics pose a threat. Competitive rivalry: Large players dominate and compete intensely on innovation and patent positioning.
SWOT Analysis
Strengths: Efficacy and targeted mechanisms of action. Weaknesses: High development costs, complex manufacturing processes. Opportunities: Large addressable market for diabetes, cancer, and other indications. Threats: Stiff competition from large pharmaceutical companies, biosimilars.
Key Takeaways
The Global Peptide Therapeutics Market Size is expected to witness high growth, exhibiting CAGR of 6.6% over the forecast period, due to increasing prevalence of chronic diseases. Peptide therapeutics offer targeted treatment benefits over conventional drugs.
Regional analysis: North America dominates the market currently owing to rising healthcare spending and advanced research infrastructure. Asia Pacific is poised to grow at the fastest pace due to growing medical needs of expanding patient population and government efforts to strengthen healthcare systems.
Key players: Key players operating in the Peptide Therapeutics market are Teva Pharmaceutical Industries Ltd, Novo Nordisk A/S, OPKO Health Inc., Lilly, Hanmi Pharm.Co., Sanofi, Circle Pharma, Pfizer Inc., Novartis AG, PeptiDream Inc., Amgen Inc., AstraZeneca, Bachem Holding AG, CordenPharma International, Ipsen Pharma, Merck KGaA, PolyPeptide Group, Bayer AG.
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