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.
Market Overview: Peptide therapeutics are small protein-like chains used to deliver drugs directly to tissues and organs. They can be designed to target specific receptors on cells to enhance efficacy and reduce side effects compared to traditional small molecule drugs. Peptide therapeutics are used for conditions such as cancer, metabolic disorders, skin & topical diseases, cardiovascular disorders, and infectious diseases. Their applications range from treatment to diagnostics and imaging. Market Dynamics: The peptide therapeutics market size is primarily driven by increasing adoption of targeted therapies and the capability of peptides to specifically attack disease sites with minimal toxicity toward healthy tissues. Peptides enhance the efficacy and selectivity of drugs and enable designing of new chemical entities. Growing R&D investments by companies to develop innovative peptide-based drugs is also fueling market growth. Additionally, rising prevalence of lifestyle diseases such as cancer, diabetes, and cardiovascular disorders creates high demand for efficient therapeutics. SWOT Analysis Strength: Peptide therapeutics have exhibited advantages over small-molecule drugs such as higher potency, selectivity and lower toxicity. With advances in peptide engineering and production techniques, more long and complex peptides can now be developed as potential drugs. Research into peptide-based immunotherapy and vaccine development is growing rapidly. Weakness: Peptides have short half-lives in the body due to enzymatic degradation and renal clearance. This necessitates frequent administration and reduces patient compliance. Production of peptides through chemical or recombinant methods can be complex and costly. Opportunity: The growing prevalence of cancer, metabolic disorders and infectious diseases worldwide presents major opportunities for peptide drug development. In addition, peptides play an important role in targeted drug delivery applications and regenerative medicine. Threats: High development costs and regulatory hurdles associated with peptide drug approvals deter investments. Biosimilars pose competition once blockbuster peptide drugs lose patent exclusivity. Dependence on contract manufacturing could affect drug supply security. Key Takeaways The global peptide therapeutics market is expected to witness high growth, exhibiting CAGR of 6.6% over the forecast period, due to increasing prevalence of chronic diseases and growing use of peptides in cancer immunotherapy. Regional analysis: North America currently dominates the global peptide therapeutics market due to supportive regulatory environment and robust research funding. However, Asia Pacific is projected to grow at the fastest pace during the forecast period owing to rising healthcare spending and an increasing patient population in major countries like China and India. Key players: Key players operating in the peptide therapeutics market include 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. Get more insights on this topic: https://www.trendingwebwire.com/peptide-therapeutics-market-size-and-outlook-2023-2030/
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