Biosimilar Therapeutic Peptides Global Market to Reach $3.5 Billion by 2026 at a CAGR of 30.3%

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Dec 06, 2022, 06:15 ET

DUBLIN, Dec. 6, 2022 /PRNewswire/ -- The "Biosimilar Therapeutic Peptides Global Market Report 2022: By Route, By Application, By Type" report has been added to ResearchAndMarkets.com's offering.

The global biosimilar therapeutic peptides market is expected to grow from $0.93 billion in 2021 to $1.21 billion in 2022 at a compound annual growth rate (CAGR) of 30.3%. The market is expected to reach $3.50 billion in 2026 at a CAGR of 30.3%.

The main types of biosimilar therapeutic peptides are innovative and generic. Biosimilar medications are frequently mistaken for generic drugs. Both are marketed as low-cost knockoffs of high-priced name-brand medications. The main distinction is that generics are duplicates of synthetic pharmaceuticals, whereas biosimilars are based on drugs that contain biological organisms as active components. The different routes of administration include parenteral route, transdermal route, others and is used in cancer, cardiovascular, central nervous systems, metabolic disorders, infection, hematological disorders, gastrointestinal disorders, dermatology, respiratory disorders.

The increasing aging population is projected to surge the patients with chronic diseases contributing to the biosimilar therapeutic peptides' market growth. Elderly people are more prone to various chronic diseases, surging the old age population rapidly across the world and is predicted to continue over the forecast period.

According to the World Health Organization (WHO), the world's population over the age of 60 years is expected to reach 2 billion by the end of 2050. Moreover, according to the World Population Prospects, the 2019 Revision, the number of people aged 80 years and above is likely to increase from 143 million in 2019 to 426 million in 2050. Biosimilar therapeutic peptides are used for the treatment of various chronic diseases and cancer. The expected increase in the aging population suffering from various chronic conditions will drive the biosimilar market.

The long and costly drug approval process is expected to limit the growth of the biosimilar therapeutic peptides market over the upcoming years. The development, approval, and launch of new drugs is an expensive and prolonged procedure that includes expensive research stages. A new drug has to go through four phases of clinical trials and screening by the regulatory body including Food and Drug Administration (FDA) (USA), Medicines and Healthcare Products Regulatory Agency (MHRA) (UK), and Medicines and Healthcare Products Regulatory Agency (MHRA) (India).

According to a report of Tufts Center for the Study of Drug Development published by the Journal of Health Economics in 2019, a cost to develop new drugs is $2.6 billion whereas the approval rate for drugs entering clinical trail is less than 12%. Therefore, long and costly drug approvals of new drug candidates are anticipated to hinder the growth of biosimilar therapeutic peptides market.

During the forecast period, biosimilar therapeutic peptides market is expected to witness a growth in research collaborations as well as research funding approvals. Key companies are focusing on collaborations with companies and organizations to enhance their research & developments, expand their product portfolio, and geographical reach.

Scope

Markets Covered:

1) By Route Of Administration: Parenteral Route; Transdermal Route; Others
2) By Application: Cancer; Cardiovascular; Central Nervous Systems; Metabolic Disorders; Infection; Hematological Disorders; Gastrointestinal Disorders; Dermatology; Respiratory Disorders
3) By Type: Innovative; Generic

Key Topics Covered:

1. Executive Summary

2. Biosimilar Therapeutic Peptides Market Characteristics

3. Biosimilar Therapeutic Peptides Market Trends And Strategies

4. Impact Of COVID-19 On Biosimilar Therapeutic Peptides

5. Biosimilar Therapeutic Peptides Market Size And Growth

6. Biosimilar Therapeutic Peptides Market Segmentation

7. Biosimilar Therapeutic Peptides Market Regional And Country Analysis

8. Asia-Pacific Biosimilar Therapeutic Peptides Market

9. China Biosimilar Therapeutic Peptides Market

10. India Biosimilar Therapeutic Peptides Market

11. Japan Biosimilar Therapeutic Peptides Market

12. Australia Biosimilar Therapeutic Peptides Market

13. Indonesia Biosimilar Therapeutic Peptides Market

14. South Korea Biosimilar Therapeutic Peptides Market

15. Western Europe Biosimilar Therapeutic Peptides Market

16. UK Biosimilar Therapeutic Peptides Market

17. Germany Biosimilar Therapeutic Peptides Market

18. France Biosimilar Therapeutic Peptides Market

19. Eastern Europe Biosimilar Therapeutic Peptides Market

20. Russia Biosimilar Therapeutic Peptides Market

21. North America Biosimilar Therapeutic Peptides Market

22. USA Biosimilar Therapeutic Peptides Market

23. South America Biosimilar Therapeutic Peptides Market

24. Brazil Biosimilar Therapeutic Peptides Market

25. Middle East Biosimilar Therapeutic Peptides Market

26. Africa Biosimilar Therapeutic Peptides Market

27. Biosimilar Therapeutic Peptides Market Competitive Landscape And Company Profiles

28. Biosimilar Therapeutic Peptides Pipeline Analysis

29. Key Mergers And Acquisitions In The Biosimilar Therapeutic Peptides Market

30. Biosimilar Therapeutic Peptides Market Future Outlook and Potential Analysis

31. Appendix

Companies Mentioned