The Peptide Therapeutics Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Peptide Therapeutics Global Market Report 2024, The peptide therapeutics market size has grown rapidly in recent years. It will grow from $41.44 billion in 2023 to $45.66 billion in 2024 at a compound annual growth rate (CAGR) of 10.2%. The growth in the historic period can be attributed to increasing incidence of chronic diseases, growing understanding of molecular biology, expanding applications in oncology.
The peptide therapeutics market size is expected to see rapid growth in the next few years. It will grow to $68.83 billion in 2028 at a compound annual growth rate (CAGR) of 10.8%. The growth in the forecast period can be attributed to rising demand for personalized medicine, expanding use in immunotherapy, advancements in peptide delivery systems, emerging peptide targets in infectious diseases, increasing focus on rare diseases. Major trends in the forecast period include technological advancements in peptide synthesis, growing investment and funding, emphasis on peptide drug safety, market expansion in emerging economies, integration of artificial intelligence (AI).
An increase in the prevalence of chronic diseases is expected to propel the growth of the peptide therapeutics market. Chronic diseases are long-lasting sickness that often cannot be healed, however, they are occasionally curable and controllable. Chronic diseases are increasing due to increased use of tobacco products, poor nutrition, physical inactivity, excessive alcohol use, and others. The use of peptide therapeutics aids in the prevention and treatment of certain chronic diseases. For instance, in January 2023, according to the National Library of Medicine, a US-based agency, the number of people in the US aged 50 and older who have at least one chronic condition would increase by 99.5%, that is 142.66 million, by 2050. Therefore, the increase in the prevalence of chronic diseases is expected to drive the peptide therapeutics market during the forecast period.
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The peptide therapeutics market covered in this report is segmented –
1) By Type: Generic, Branded
2) By Route of Administration: Parenteral, Mucosal, Oral, Transdermal
3) By Application: Cancer, Cardiovascular Diseases, Central Nervous Systems, Metabolic Disorders, Infections, Hematological Disorders, Gastrointestinal Disorders, Dermatology, Respiratory Disorders, Acromegaly, Other Applications
Major companies operating in the peptide therapeutic market are focused on introducing advanced solutions, such as peptide drug discovery, to gain a competitive edge in the market. Peptide drug discovery involves the identification, design, and development of therapeutic agents composed of short chains of amino acids, known as peptides. For instance, in May 2023, Fujitsu Limited, a Japan-based information and communications technology equipment and services company, launched Biodrug Design Accelerator. Biodrug Design Accelerator is a platform designed to support peptide drug discovery scientists in pharmaceutical companies, through the cycles design, make, test, analyze (DMTA). It is web-based and provides assistance to peptide designers with visualization of amino acid sequences.
The peptide therapeutics market report table of contents includes:
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