May 29, 2024
Peptide Therapeutics Market

Peptide Therapeutics Market is Expected to be Flourished by Increasing Prevalence of Chronic Diseases

Peptide therapeutics are small protein-like molecules used in pharmaceuticals as drugs and research tools. Various diseases like cancer, metabolic disorders, cardiovascular diseases, infectious diseases, and others are treated with the help of peptide therapeutics. They are mainly used for conditions where conventional drug molecules are not effective enough or cannot be administered orally. Peptide drugs are designed to interact with high specificity targeted receptors and can mimic the actions of endogenous regulatory peptides. Some common peptide drugs are exenatide, liraglutide, calcitonin, insulin, glucagon-like peptide-1 (GLP-1), pituitary hormones, and somatostatins.

The global Peptide Therapeutics Market is estimated to be valued at US$ 51133.71 Bn in 2024 and is expected to exhibit a CAGR of 8.9% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

Increasing Prevalence of Chronic Diseases: According to the World Health Organization (WHO), non-communicable or chronic diseases accounted for 71% of global deaths in 2019. Chronic illnesses such as cardiovascular diseases, cancer, diabetes, chronic respiratory diseases, and others have high prevalence globally. Peptide therapeutics offer effective treatment solutions for these chronic conditions. For instance, glucagon-like peptide-1 (GLP-1) is highly effective in managing blood glucose levels in type 2 diabetes patients. Hence, rise in chronic diseases will boost the demand for peptide drugs in the forecast period.

Segment Analysis

The peptide therapeutics market is dominated by cancer therapeutics segment. Cancer being one of the leading causes of death globally, peptide therapeutics are being considered as potential anticancer drugs. Peptide therapeutics has minimal side-effects and high selectivity as compared to conventional chemotherapy. Also, the increasing demand for personalized medicine is further driving the demand of peptide therapeutics in cancer treatment.

PEST Analysis

Political: The governments across the developing nations are introducing various initiatives to increase healthcare awareness and improve access to peptide therapeutics. This is positively impacting the market growth.

Economic: Rising per capita healthcare expenditure and growing GDP rates in emerging countries offer significant growth opportunity to peptide therapeutics manufacturers.

Social: Changing lifestyle patterns have increased the incidence of diseases like cancer and cardiovascular disorders. This has boosted the demand for effective and targeted peptide therapeutics.

Technological: Advancements in peptide engineering technologies like rational design, directed evolution and combinatorial biosynthesis have enabled development of novel peptide therapeutics with high selectivity and minimal toxicity. This has enhanced applications of peptides in various disease conditions.

Key Takeaways

The Global Peptide Therapeutics Market Size is expected to witness high growth.

Regional analysis: North America currently dominates the market and is expected to maintain its dominance during the forecast period. This can be attributed to growing research funding, increasing prevalence of chronic diseases, friendly regulatory environment and advanced healthcare facilities in the region.

Key players operating in the peptide therapeutics market are Eli Lilly, Pfizer, Amgen, Takeda, Teva, Novo Nordisk, Johnson & Johnson, Bristol-Myers Squibb.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it