Global Peptide Therapeutics Market Study Reveals Growth Factors and Competitive Outlook for Future
The global peptide therapeutics market is segmented into application such as cancer, cardiovascular, central nervous system, metabolic disorders, infection, hematological disorders, gastrointestinal disorders, respiratory disorders and acromegaly. Among these segments, cancer segment is projected to be the fastest growing segment by 2024. Likely, rising demand for peptide therapeutics owing to growing occurrence of long term diseases such as cancer is predicted to propel the growth of global peptide therapeutics market. Moreover, rise in spending on healthcare is yet another major growth driving the growth of peptide therapeutics market.
Global peptide therapeutics market is projected to register a CAGR of 8.2% over the forecast period i.e. 2016-2023. Moreover, the global peptide therapeutics market is anticipated to reach at noteworthy revenue of USD 26.2 Billion by 2023. The market is expected to expand on the back of increasing investment in healthcare sector by the government authorities.
The parenteral segment by route of administration is projected to grab the biggest share in overall Peptide Therapeutics Market by 2023. In the terms of geography, highest demand for peptide therapy was seen from North-America. Further, increasing aging population and favorable reimbursement policies are some of the factors propelling the growth of peptide therapeutics market. Apart from this, Asia-Pacific peptide therapeutics market is expected to expand at a robust CAGR during the forecast period owing to rapid expansion of biotech companies.
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Increasing Geriatric Population
Increase in aging population across the globe is believed to trigger the prevalence of diseases such as cardiac, cardiovascular and osteoporosis which is likely to increase the burden on emerging economies, thus intensifying the demand for peptide therapeutics so as to reduce the burden and minimize the health expenditure.
Rising Healthcare Expenditure
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. Furthermore, rising awareness towards peptide therapeutics and introduction of favorable re-imbursement policies by the government organizations across the globe is envisioned to bolster the growth of the global peptide therapeutics market in next upcoming years.
The report titled “Peptide Therapeutics Market: Global Market Size, Demand Analysis & Opportunity Outlook 2023” delivers detailed overview of the global peptide therapeutics market in terms of market segmentation by application, by route of administration, by Synthesis, by drugs, by type of molecule, by end-user and by region.
Although, high cost of peptide therapeutics is expected to limit the growth of peptide therapeutics market by the end of 2023. Moreover, lack of awareness in under-developed nations is hindering the demand for peptide therapeutics.
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Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global peptide therapeutics market which includes company profiling of Teva Pharmaceutical Ltd., Novartis AG, Bachem Holdings AG, Sanofi, Pfizer Inc., Novo Nordisk, Eli Lilly and Company, F. Hoffmann-La Roche Ltd., F. Hoffmann-La Roche Ltd. and Takeda Pharmaceutical Industries Ltd. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global peptide therapeutics market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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