The peptide therapeutics market is set to grow at an 11% CAGR through 2030, driven by chronic disease treatment demand, despite COVID-19 challenges.
Peptide therapeutics are witnessing substantial demand, owing to increasing application in the treatment of various chronic disease such as cancer, cardiovascular diseases, hematologic diseases, and gastro-intestinal diseases. Rising prevalence of these chronic diseases across the world is further expected to widen the existing patient pool. Therapeutic efficacy of peptide therapeutics is relatively superior as compared to other marketed drugs, resulting in their higher adoption among physicians. The global peptide therapeutics market was valued at US$ 25.6 Bn in 2019, and is expected to exhibit a healthy CAGR of 11% during the forecast period (2020-2030).
The COVID-19 pandemic has been severely affecting the global economic order, and, in turn, the peptide therapeutics market. Restrictions on traveling, self-quarantines, and social distancing regulations, on a national scale, are resulting in notable drop in business and consumer spending through Q2.
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“Higher efficacy, widespread availability, and future generic competition are amongst the key factors expected to shape the peptide therapeutics market across the world. With increasing regional product adoption in Asia Pacific (APAC) and the Middle East & Africa (MEA), market players are driving their attention towards these regions for sustained growth.”
Key Takeaways of Peptide Therapeutics Market Study
Key Players Focus on Strategic Collaborations and Generic Launches to Widen Regional Presence
Leading players in the peptide therapeutics market, such as AstraZeneca plc, Merck Co. & Inc., and Elli Lily, are concentrating on business expansions through joint ventures and distribution agreements, and are capturing untapped market potential.
Additionally, market incumbents are entering into collaborations in order to expand their regional presence and manufacturing capabilities in the global peptide therapeutics market.
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More Valuable Insights on Peptide Therapeutics Market
Future Market Insights brings a comprehensive research report on forecasted revenue growth at global, regional, and country levels, and provides an analysis of the latest industry trends in each of the segments from 2015 to 2030. The global peptide therapeutics market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader. The study provides compelling insights on the peptide therapeutics market on the basis of application, (cancer, cardiovascular diseases, central nervous systems, metabolic disorders, infection, hematological disorders, gastrointestinal disorders, dermatology, respiratory disorders, acromegaly, and other applications), route of administration (parenteral route, mucosal route, oral route, and transdermal route), and marketing (branded and generic), across seven major regions.
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The article discusses the growth of the peptide therapeutics market, projected at an 11% CAGR through 2030.
COVID-19 is causing a near-term decline due to economic disruptions and reduced consumer spending.
Asia Pacific and the Middle East & Africa are seeing increased adoption of peptide therapeutics.
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