by The global Peptide Therapeutics Market is estimated to be valued at US$ 44,386.9 Mn in 2023 and is expected to exhibit a CAGR of 6.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Peptide therapeutics are short chains of amino acids linked together that are used to treat several diseases. They have advantages over conventional small molecule drugs as they can be more effective and have fewer side effects. Peptides have high specificity and can target receptors without affecting other tissues. Some common applications of peptide therapeutics include treatment of cancer, metabolic disorders, infectious diseases, cardiovascular diseases, and CNS disorders.
Market key trends:
One of the key trends in the peptide therapeutics market size is the development of peptide-drug conjugates. Conjugating peptides to existing drugs helps in targeted delivery and improves efficacy by reducing side effects. Companies are focusing on development of peptides conjugated with cytotoxic agents or radionuclides for targeted cancer therapy. Additionally, modifications in peptide structure through PEGylation or other techniques helps in improving stability, half-life and bioavailability of peptides. This is expected to drive the demand for modified and improved peptide therapeutics.
Porter’s Analysis
Threat of new entrants: The stringent regulations related to peptide therapeutics limits the threat of new entrants. Extensive R&D and clinical trials are required for developing new peptide drugs.
Bargaining power of buyers: The bargaining power of buyers is moderate as most peptide drugs are patented and buyers have limited alternatives. However, price competition exists between large pharmaceutical companies.
Bargaining power of suppliers: Research organizations and CROs form the major suppliers for peptide therapeutics market. Large pharmaceutical companies have significant bargaining power over small suppliers.
Threat of new substitutes: Alternatives like small molecule drugs pose a threat, however peptide therapeutics offer target specificity making substitutions difficult.
Competitive rivalry: Being a competitive market, companies invest heavily in R&D to develop superior products and gain market share.
Key Takeaways
The global Peptide Therapeutics Market is expected to witness high growth, exhibiting CAGR of 6.6% over the forecast period, due to increasing prevalence of chronic diseases.
Regional analysis: North America dominates the peptide therapeutics market currently owing to presence of major players and advances in recombinant technologies. Asia Pacific is expected to grow at the fastest pace during the forecast period with increasing healthcare expenditure and focus on development of generics.
Key players: Key players operating in the Peptide Therapeutics market are Teva Pharmaceutical Industries Ltd, Novo Nordisk A/S, OPKO Health Inc., Lilly, Hanmi Pharm.Co., Sanofi, Circle Pharma, Pfizer Inc., Novartis AG, PeptiDream Inc., Amgen Inc., AstraZeneca, Bachem Holding AG, CordenPharma International, Ipsen Pharma, Merck KGaA, PolyPeptide Group, Bayer AG.
