High Prevalence of Cancer and Other Chronic Conditions to Bode Well for the Peptide Therapeutics Market, However, Steep Cost of New Therapeutic Development Could Stifle Market Growth, Says TMR
- Since the geriatric population is more susceptible to various chronic conditions, the global peptide therapeutics market is expected to expand at a rapid pace.
- Technological advances have helped to reduce the overall costs associated with the making of therapeutic peptides, encouraging producers and manufacturers to look for new ways to produce therapeutic peptides.
ALBANY, N.Y., April 13, 2021 /PRNewswire/ -- The global peptide therapeutics market is expected to expand due to the high prevalence and incidence of metabolic disorders. Furthermore, the said market is anticipated to be driven by advancements made in the fields of bioavailability and drug delivery over the forecast period.
Peptides are combined by amide bonds with two or more monomers of amino acids. Peptides can be distinguished from proteins based on their size, according to researchers. Peptides are described as molecules that contain fewer than 50 amino acids. Peptides aid in the treatment of diseases by binding to particular cell surface receptors and mimics including receptor ligands. Due to a decrease in non-peptide chemical products in the market, the global peptide therapeutics market is presently flourishing. The peptides generics market is expected to expand as the patent cliff rises. Since pharma companies are shifting their attention to better prospects in the peptide therapeutics industry, CMOs that offer end-to-end service to biotech pharmaceutical companies are rising. Peptides were once used mainly for diagnostics and hormone therapy; but, thanks to technological advancements, they are now commonly used for chronic metabolic disorder and cancer treatment.
The global peptide therapeutics market was worth around US$ 25.0 Bn in 2018, and it is predicted to grow at a 7.9% CAGR over the analysis timeframe, from 2019 to 2027. The market is further predicted to be propelled by an increase in the incidence and prevalence rate of various chronic conditions such as diabetes and cardiac diseases due to an ageing population.
Key Findings of Market Report
Technological Breakthroughs to Bring Down Overall Cost of Production
Technological breakthroughs have helped to lower the overall costs associated with the processing of therapeutic peptides, encouraging producers and manufacturers to explore new avenues for therapeutic peptide manufacturing, including dealing with longer and more complex chains of peptides. The global peptide therapeutics market is expected to expand as more hybrid technologies are adopted to achieve economies of scale. Furthermore, as compared to traditional pharmaceutics, peptide therapeutics have greater efficacy and treatment results with less side effects, which is increasing their popularity amongst prescribers and patients. These factors are anticipated to foster development of the global peptide therapeutics market in the years to come.
Prolonged Time for Commercialization of New Therapeutic to Limit Growth of the Market
The cost of discovering and developing new therapeutics is considerably high, and commercialization takes more time. Over the forecast timeframe, many of the therapeutic peptide drugs are estimated to be off patent, and many blockbuster drugs is likely to lose market exclusivity. The availability of biosimilar or generic peptide therapeutic drugs, as well as the anticipated release of more such drugs is expected to limit the market's valuation and growth. Government and regulatory initiatives to increase the availability of biosimilar and generic drugs due to their low cost are expected to have an effect on the global peptide therapeutics market.
High Prevalence of Cancer to Leave a Considerable Impact in Shaping the Market Contours
One of the leading causes of death worldwide is cancer. According to GLOBOCAN 2018, there were around 3,792,000 cases of cancer in the North America region, nearly 8,751,000 cases in Asia Pacific, and around 4,230,000 cases in Europe in 2018. Chemotherapy is the most common cancer treatment, but it has significant limitations due to its failure to administer the correct amount of medication directly. It also affects the body's regular cells. The use of therapeutic peptides in cancer treatment is likely to up a potential new avenue for the development of global peptide therapeutics market in the near future.
The industry for peptide therapy is presently growing rapidly as non-peptide-based chemical drugs are declining in the market. The peptides generics market is expected to expand as the patent cliff rises.
Moreover, the growing geriatric population is expected to result in an increase in high incidence rate of various chronic conditions, including immune disorders, cardiac conditions, and diabetes. The global peptide therapeutics market is expected to benefit from this aspect.
Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.
Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.
TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision."