Peptide therapeutics play a vital role in targeting chronic diseases such as cancers, metabolic disorders, infectious diseases, cardiovascular disorders, etc. These therapeutic peptides are biodegradable, selective and have minimal toxicity and side effects. Peptides offer potential advantages over small molecules and biologics for various therapeutic applications including cancer immunotherapy, metabolic disorders, wound healing etc. Moreover, these therapeutic peptides are heat stable, cost-effective and involve low manufacturing complexity.
The global Peptide Therapeutics Market is estimated to be valued at US$ 51133.71 Bn in 2024 and is expected to exhibit a CAGR of 8.9% over the forecast period 2024-2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the peptide therapeutics market is the growing focus on developing novel peptide drugs for cancer immunotherapy. Unlike conventional anti-cancer drugs that cause harm to healthy cells, peptides are biodegradable, selective and non-immunogenic. They can be designed to specifically target cancer cells and activate the immune system against tumors. Currently, multiple peptides are under clinical trials for various types of cancers including breast cancer, prostate cancer, lung cancer, etc. Researchers are discovering new class of peptides that can regulate immune checkpoints like PD-1, CTLA-4 etc. and enhance the efficacy of existing cancer immunotherapies like checkpoint inhibitors. This shift towards peptide-based cancer immunotherapy is expected to drive significant growth of the peptide therapeutics market in the coming years.
Threat of new entrants: The threat of new entrants is moderate as the peptide therapeutics market requires high R&D investments and regulatory approvals.
Bargaining power of buyers: The bargaining power of buyers is high due to the presence of many established players and customized products.
Bargaining power of suppliers: The bargaining power of suppliers is moderate owing to the availability of alternative raw material suppliers.
Threat of new substitutes: The threat of new substitutes is low as peptide therapeutics provide efficacy and targeted drug delivery.
Competitive rivalry: The competitive rivalry is high among key players to gain market share.
The Global Peptide Therapeutics Market Demand is expected to witness high growth.
Regional analysis: North America dominated the global market and is expected to remain the highest revenue generating region during the forecast period. This is attributed to high healthcare spending, presence of leading players and growing adoption of peptide-based drugs in the region. Asia Pacific is anticipated to be the fastest growing market due to rising healthcare expenditure, increasing awareness and improving diagnostic facilities in emerging economies.
Key players: Key players operating in the peptide therapeutics market are Amgen, Teva Pharmaceutical Industries, Takeda Pharmaceutical, Ipsen, AstraZeneca, Novartis, Eli Lilly and Company, Sanofi, Novo Nordisk, F. Hoffmann-La Roche.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it