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.
SWOT Analysis
Strength: Peptide therapeutics have several benefits over small molecule drugs and biologics. They are more stable and safer than proteins, and can be developed and manufactured at lower costs than monoclonal antibodies or recombinant proteins. Many pharmaceutical companies are investing in peptide drug development programs due to these advantages. Moreover, peptides often demonstrate high target specificity and low toxicity, making them ideal candidates for drug development.
Weakness: Peptide therapeutics have relatively short half-lives as they are prone to rapid breakdown by peptidases and proteases in the body. They also have poor membrane permeability and oral bioavailability. Developing effective drug delivery systems to overcome these weaknesses remains a key challenge.
Opportunity: The market for diabetes, cancer, and CNS disorder therapies is growing rapidly creating lucrative opportunities. Peptides can be developed to selectively target receptors overexpressed in certain cancers or binding selectively to neuroreceptors linked to CNS disorders. Rapid diagnostic techniques also enable developing personalized peptide medications.
Threats: Stiff competition exists from large biopharmaceutical companies involved in developing small molecule and biologic therapeutics for the same indications. Demand for biosimilars and investment in cutting-edge gene and cell therapy technologies also poses threats in the long run. Stringent regulations for clinical trials and approvals further drive up development costs.
Key Takeaways
The Global Peptide Therapeutics Market Demand is expected to witness high growth over the forecast period led by rising demand for more effective drugs for chronic diseases. The market size is projected to reach US$ 51133.71 Bn by 2024 at a CAGR of 8.9% between 2024-2031.
Regional analysis: North America currently dominates the market due to presence of major players and steady research funding. Asia Pacific is expected to grow at the fastest pace supported by expanding healthcare infrastructure, generic drugs market, and increasing investment by international peptide drug manufacturers attracted by low-cost manufacturing sites. Countries like China, India, and South Korea are rapidly emerging as global biomanufacturing hubs.
Key players: Key players operating in the Peptide Therapeutics market are Amgen, Teva Pharmaceutical Industries Ltd., Eli Lilly and Company, Pfizer, Novartis, Sanofi, GlaxoSmithKline, AstraZeneca, Novo Nordisk, Takeda Pharmaceutical Company. Amgen is the leader in peptide drug development and sales while Teva, Eli Lilly, and Novartis are other top players with significant pipeline and market shares.
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