According to a new research report by Transparency Market Research (TMR), market players with large revenue base, such as Sanofi, Eli Lilly, Novo Nordisk, and Teva, have been dominating the global peptide therapeutics market. In 2015, these companies together held a share of more than 75% in this market.
These market players are conducting rigorous research and have taken up various development initiatives to accentuate their respective market shares, which is likely to increase the competition within this market, reports the research study.
As per TMR’s estimations, the opportunity in the worldwide market for peptide therapeutics was worth US$21.3 bn in 2015. The market is expected to expand at a CAGR of 9.10% during the period from 2016 and 2024 and reach US$46.6 mn by the end of the forecast period. The demand for peptide therapeutics is significantly high for the treatment of cancer. Researchers at TMR expect the trend to remain so over the next few years.
Immunopeptides to Report Significant Growth
The report analyzes the global market for peptide therapeutics on the basis of a number of market parameters. One among them is the type of molecule, based on which, the market has been classified into vasopressin, somatostatin, calcitonin, natriuretic, and immunopeptide. Thanks to the increasing usage of immunopeptide for the treatment of several conditions, such as cancer and tumors, the immunopeptide segment has been registering a higher growth than others.
Since the treatment of these diseases is complex, more investments is being made by the key market players in research and development of various therapies, amongst which the immuno therapy is the most favored one. This, as a result is anticipated to reflect positively on the growth of the immunopeptide segment in the near future, notes the study.
In terms of the geography, the report segments the worldwide market for peptide therapeutics into the Middle East and Africa, Latin America, North America, Europe, and Asia Pacific. In 2015, North America acquired the leading position in the global market with a share of 38.8%. Researchers expect this regional market to retain its position over the period of the forecast, thanks to the infrastructural advancements in the medical and healthcare industry. The emergence of peptide therapeutics as a highly potent drugs for the treatment of cancer and various other diseases and the presence of large pool of leading players in the U.S. are also projected to boost the North America market for peptide therapeutics in the years to come.
Increasing Usage of Peptides in Cancer Treatment to Boost Market’s Growth
“The rising prevalence of cancer is the key factor behind the significant growth of the global peptide therapeutics market,” states a TMR analyst. According to the WHO, nearly 7 million people die from cancer every year and there will be more than 16 million new cancer cases every year by 2020. Since chemotherapy is facing major challenges due to its inability to deliver the correct amount of drug directly, the application of peptides in cancer treatment has increased, opening new avenues for future growth.
Going forward, the rising incidence rate of metabolic disorders is likely to create lucrative opportunities for market players in the years to come. However, the lack of regulatory standards may restrict the market from growing steading over the next few years, states the research report.
The study presented here is based on a report by Transparency Market Research (TMR), titled “Peptide Therapeutics Market (Application - Cancer, Metabolic, CVD, Respiratory, GIT, Anti-infective, Dermatology, CNS, and Renal; Route of Administration - Parenteral and Oral; Type - Innovative and Generic; Technology - Liquid Phase, Solid Phase, and Hybrid Phase; Type of Molecule - Vasopressin, Somatostatin, Calcitonin, and Natriuretic, Immunopeptide; API Peptide Type - In-house and CMO) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024.”
The global peptide therapeutics market has been segmented into:
By Route of Administration
- Liquid Phase
- Solid Phase
- Hybrid Phase
By Type of Molecule
By API Peptide Type
- North America
- Rest of Europe
- Asia Pacific (APAC)
- Rest of APAC
- Latin America (LATAM)
- Rest of LATAM
- Middle East & Africa (MEA)
- South Africa
- Saudi Arabia
- Rest of MEA