The global Peptide Therapeutics Market size is expected to reach USD 68.7 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 6.4% from 2022 to 2030. Increasing demand for efficient and rapid-acting therapeutics for the treatment of cancer and other lifestyle-associated disorders, which result in lesser adverse effects, is anticipated to propel market growth. The rising incidence of cancer calls for exploring and introducing other means of therapies and low-cost treatment alternatives is expected to drive the market. Moreover, the growing geriatric population is expected to widen the consumer base by triggering the incidence rate of target diseases such as cancer and diabetes, which is expected to drive the demand for peptide therapeutics.
As per the International Agency for
Research on Cancer (GLOBOCAN 2020) report, there will be 19,292,789 new
cancer cases diagnosed globally in 2020, with 9,958,133 cancer deaths.
Furthermore, the five-year prevalence of cancer was projected to be 50,550,287
worldwide. The global number of new cases of cancer is projected to reach
28,887,940 by 2040. As a result, the higher incidence of cancers around the
world is set to perform an important role in the development of
peptide therapeutics over the forecast period. Besides that, increasing
awareness among health care providers and patients about the negative effects
of chemotherapy and/or radiation therapy is a primary factor influencing the
increased emphasis on alternative therapeutics like peptide-based drugs.
Technological advancements in the peptide
manufacturing process are driving the market during the forecast period.
Manufacturers and suppliers are focusing on the adoption of novel technologies
to manufacture efficient drug molecules with low time and capital investment.
Improvement in purification and automation process and less generation of waste
are additional factors contributing to the market growth. For instance, in
March 2022, Amgen announced the official opening of its latest bio-manufacturing
facility in Holly Springs, North Carolina. The facility, which is set to open
in 2025, will help cope with the growth of Amgen's medicines, which
treat serious diseases like cancer and heart disease.
The COVID-19 pandemic is anticipated to
spur the spectrum of cancer care, which includes delayed diagnoses, therapeutic
interventions, and the impeding of clinical trials focused on developing
cost-effective therapeutics for cancer treatment, with peptide therapeutics for
cancer treatment being no exception, as per a research article published in
Nature Cancer, 2020. There have been 21 peptide drugs in therapies for the
treatment of COVID-19 as of May 2020, such as 15 synthetic peptides for the
therapies of acute respiratory distress syndrome (ARDS) as well as other
respiratory illnesses induced by severe acute respiratory infection. However,
current implementations of peptide therapeutics in oncological
and metabolic disorders and other fields have been hampered by drug
shortages, operational problems, and the slow progress of clinical trials
involving non-COVID-19 therapeutics.
For instance, in May 2022, EVER Pharma
announced that Bortezomib has received EU-wide approval for the treatment of
individuals with symptomatic myeloma and mantle cell lymphoma1. In May 2022,
The European Commission approved Novartis' Jakavi post-steroid therapy for
acute and chronic graft-versus-host ailments. Jakavi will be the first JAK1/2
inhibitor widely available for patients in Europe with steroid-refractory
graft-versus-host ailment. In September 2021, Nimble Therapeutics and Incyte
entered into strategic collaborative research to discover additional new
peptide therapies.
Related Press Release@ Peptide
Therapeutics Market Report
Peptide
Therapeutics Market Report Highlights
- By application, cancer held the second-largest
revenue share in 2021 owing to the increasing demand for alternative
therapeutics over conventional treatment options. Peptides are being used
as potential therapeutic agents in cancer treatment
- The generic type segment is expected to showcase an
upward shift due to the patent expiration of blockbuster peptides and
supportive government initiatives pertaining to the introduction of the
generic class
- By type of manufacturers, the outsourced segment is
expected to expand at a lucrative CAGR of 6.6% over the forecast period
owing to the requirements of complex procedures and a shift in preference
toward outsourcing, which helps in eliminating the cost of production
- By synthesis technology, hybrid technology is
expected to witness the fastest growth over the forecast period. Benefits
associated with this technology such as time conservation and ease of
usage for both solid- and liquid-phase peptide synthesis are the key
factors affirming growth
- North America held the largest share in terms of
revenue in 2021 owing to a higher level of awareness pertaining to
genomics and proteomics products, well-established R&D infrastructure,
and rising funding initiatives
- Asia Pacific is expected to register a lucrative
growth rate of 8.7% over the forecast period. The presence of an
established generic industry and API providers in this region, coupled
with the growing economic stability in some of the countries, is expected
to propel market growth
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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