Peptide therapeutics are bioactive molecules with potential applications in treatment of various chronic diseases. These molecules are made of amino acid chains that act as ligands, receptor antagonists or mimics of naturally occurring peptides. Peptides can be developed and manufactured to bind to specific molecular targets involved in progression of diseases. The increasing prevalence of chronic illnesses such as cancer, metabolic disorders and infectious diseases is driving research on developing novel peptide-based therapies. 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 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity
Growing prevalence of chronic diseases is estimated to provide huge market opportunity:
Chronic diseases such as cancer, diabetes, and cardiovascular diseases pose serious health challenge worldwide. As per estimates, over 50% of the global disease burden is attributed to chronic illnesses. Peptides are being actively researched for treatment of various chronic conditions owing to their high target specificity and low toxicity. The peptide drug development aims to design novel molecules acting on targets implicated in progression of chronic diseases. The growing prevalence of these conditions accompanied with complex pathologies increases the need for alternative therapies such as peptide treatment. This represents a major market opportunity for peptide therapeutics to gain wider adoption in management of chronic illnesses over the forecast period.
Porter's Analysis
Threat of new entrants: The threat of new entrants is moderate as the development of peptide therapeutics requires extensive R&D and clinical trials. However, small biotech firms can enter with novel technologies.
Bargaining power of buyers: The bargaining power of buyers is moderate. Large pharmaceutical companies have significant bargaining power.
Bargaining power of suppliers: The bargaining power of suppliers is low due to the availability of substitute raw materials and suppliers.
Threat of new substitutes: The threat of new substitutes is high as new drug delivery technologies and biologics pose a threat.
Competitive rivalry: The competitive rivalry is high among the key players to gain market share.
SWOT Analysis
Strength: Peptide therapeutics have high target specificity, lower toxicity and are amenable for design. They provide viable alternatives to small molecule drugs and biologics.
Weakness: High development costs, challenges in scaling up production and stability issues are weaknesses.
Opportunity: Increasing prevalence of metabolic disorders, cancer and infectious diseases provide major growth opportunities. Innovation in drug delivery also presents opportunities.
Threats: Stringent regulatory pathways and high-risk investment are major threats. Patent cliffs of blockbuster drugs pose revenue loss threats.
Key Takeaways
The Global Peptide Therapeutics Market Size is expected to witness high growth. Driven by rising prevalence of chronic diseases, increasing demand for targeted therapies and growth in biologics. The market size for 2024 is US$ 51133.71 Billion and projected to reach over US$ 1,00,000 Billion by 2031 at a CAGR of 8.9% during the forecast period from 2024 to 2031.
Regional analysis: North America dominates the market currently owing to advanced healthcare infrastructure and high adoption of new technologies. Asia Pacific is expected to grow at the fastest pacedue to growing economies, rising healthcare expenditure and increasing investments from global market players.
Key players: Key players operating in the peptide therapeutics market are Amgen, Teva, Eli Lilly, Novo Nordisk, Takeda, Sanofi, Pfizer, Bristol-Myers Squibb, AstraZeneca and GlaxoSmithKline.
Explore more information on this topic, Please visit -
https://www.ukwebwire.com/peptide-therapeutics-market-size-and-trends-analysis/
Explore more trending article related this topic -
