by The global peptide therapeutics market is estimated to be valued at US$ 44,386.9 Mn or billion 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 short chains of amino acids linked by peptide (amide) bonds. They are known as a promising class of biopharmaceuticals with high potency and safety. They are emerging as viable alternatives to the conventional small molecule drugs especially for chronic diseases owing to targeted action. They are well tolerated in human bodies and provide an alternative to protein drugs. Some of the major advantages of peptide therapeutics include high specificity, less toxicity, and high selectivity to treat chronic diseases like cancer, metabolic disorders, cardiovascular diseases etc.
Market key trends:
One of the major trends in the peptide therapeutics market is the surge in research for developing peptide-based vaccines. Peptide vaccines hold promising potential as they can induce both humoral and cell-mediated immune responses with an improved safety profile as compared to conventional vaccines. Another key trend is the advancements in peptide drug delivery systems to enhance oral bioavailability and intracellular delivery of peptide drugs. Nanotechnology-based drug delivery systems like nanoparticles, micelles, and liposomes are being explored to protect peptide drugs from enzymatic degradation and facilitate intracellular penetration for improved therapeutic outcomes.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate as significant capital expenditure and expertise is required for the research and development of new peptides. However, the barriers to entry are expected to reduce over the forecast period.
Bargaining power of buyers: The bargaining power of buyers is high as there are numerous established players offering a diversified product portfolio at competitive prices. Buyers can easily switch between suppliers of peptide products.
Bargaining power of suppliers: The bargaining power of suppliers is low due to the presence of multiple suppliers and raw material producers in the market. Suppliers are unable to influence prices.
Threat of new substitutes: The threat of new substitutes is low since there are limited substitutes for peptide-based drugs used in various therapeutic applications.
Competitive rivalry: High as major market players compete on the basis of product portfolios, pricing, and innovation.
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 metabolic disorders, cancer, and cardiovascular diseases.
The North America peptide therapeutics market holds the largest market share and is expected to maintain its dominance over the forecast years, owing to rising healthcare expenditure and increasing adoption of peptide drugs over conventional medications. Europe peptide therapeutics market is the second largest market globally and is expected to grow at a steady rate over the next few years.
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.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
