The global peptide therapeutic market is predicted to flourish significantly at a CAGR of 8.2% over the forecast period i.e. 2016-2023.
Moreover, the market of peptide therapeutic market accounted for USD 15.6 Billion in 2015 and the market is further anticipated to garner USD 26.2 Billion by 2023. North America accounted for USD 7.42 Billion in 2015 in peptide therapeutic market across the globe.
The market of North America region is expected to continue its dominance over the forecast period and predicted to register a CAGR of 6.9% over the forecast period i.e. 2016-2023 owing to intensification of pharmaceutical and biotech companies across the region.
On the other hand, Europe is expected to be the second largest share contributor across the globe in the market of peptide therapeutics due to presence of large number of biotech companies across the region and increase in healthcare expenditure.
Moreover, the market of Asia-Pacific market of peptide therapeutic is estimated to grow significantly over the forecast period. Rising biotech companies and increasing healthcare spending by the government authorities, rising prevalence of cancer and nervous system disorders are some of the factors prompting the demand for peptide therapeutics in near future.
Growth Drivers and challenges
Increase in aging population is predicted to trigger the prevalence of diseases such as cardiac, cardiovascular and osteoporosis, further increasing the burden on emerging economies across the globe, thus intensifying the demand for peptide therapeutics so as to reduce the burden and minimize the health expenditure.
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In addition to this, factors such as introduction of cost-effective and efficient peptide therapeutics, availability of miscellaneous peptide therapeutics for treatment of several disorders, rising preferences by physicians towards peptide therapeutics and increasing demand in research laboratories to deliver more effective drugs for the treatment of cancers are some of the key elements expected to prompt the demand for peptide therapeutics over the forecast period i.e. 2016-2023.
Moreover, the market of Asia-Pacific market of peptide therapeutic is estimated to grow significantly over the forecast period. Rising biotech companies and increasing healthcare spending by the government authorities, rising prevalence of cancer and nervous system disorders are some of the factors expected to fuel the demand for peptide therapeutics in near future.
However, increasing cost of commercialization of peptide therapeutics, presence of stringent regulatory controls for peptide therapeutics, unfavorable physiological conditions such as presence of several reactive enzymes, huge expenditure needed in research and development are some of the factors likely to inhibit the growth of peptide therapeutics market in near future.
Demand Analysis By Market Segmentation:
Our in-depth analysis segmented the global peptide therapeutic market in the following segments:
- Zoladex (goserelin)
- Velcade (bortezomib)
- Lupron/ Enantone/ Eligard (leuprorelin)
- Angiomax (bivalirudin)
- Integrilin (eptifibatide)
Central Nervous System
- Copaxone (glatiramer)
- Victoza (liraglutide)
- Byetta (exenatide)
- Incivek (telaprevir)
- Victrelis (boceprevir)
- Firazyr (icatibant)
- Kalbitor (ecallantide)
- Gattex (teduglutide)
- Linzess (linaclotide)
Therapeutic peptides have established importance in the treatment of numerous diseases such as nervous system disorders, gastrointestinal disorders, prostrate, breast and ovarian cancers. Peptides carrying antagonists and agonists receptors in nature are progressively being tested for their effectiveness in cancer treatment.
Introduction of advanced cost effective therapeutic peptides, rising clinical drug researches in order to treat cancers and other disorders, increases safety and effectiveness of therapeutic peptide, thus swelling the demand for peptide therapeutic globally.
Rapid growth in therapeutic drugs owing to increasing investments in research and development aims to increase efficacy of therapeutic peptides and absence of toxicity which helps the drug industry to develop efficient therapeutic drugs with less-side effects.
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Rising awareness towards peptide therapeutics and introduction of favorable re-imbursement policies by the government organizations across the globe are likely to shift the consumer and physicians to offer cost effective therapeutic peptides in order to adopt advanced drugs for treatment of severe disorders.
The diseases such as brain disorders and cancers are increasing burden which leads to increase healthcare expenditure. The nations facing economic issues are likely to adopt cost effective and efficient peptide therapeutic in order to minimize the burden in terms of economic cost and decrease the health expenditure.
Emergence of pharmaceutical and biotech companies, huge investment in healthcare startups and rising initiatives from government authorities to develop cost effective and safe drugs in order to minimize the disease burden in terms of human suffering are some of the factors exhibit the positive growth of peptide therapeutics in near future.
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