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Peptide Therapeutics Market Is Expected To Reach Usd 45,542.8 Mn By 2024
The latest market report published by Credence Research, Inc. “Global Peptide Therapeutics Market - Growth, Share, Opportunities, Pipeline Analysis, Competitive Analysis, and Forecast, 2016 - 2024,” the peptide therapeutics market was valued at USD 19,475.8 Mn in 2015, and is expected to reach USD 45,542.8 Mn by 2024, expanding at a CAGR of 9.8% from 2016 to 2024.
Browse the full report Peptide Therapeutics Market - Growth, Share, Opportunities, Pipeline Analysis, Competitive Analysis, and Forecast, 2016 – 2024 at https://www.credenceresearch.com/report/peptide-therapeutics-market
Peptide therapeutics were observed as one of the most attractive and preferred options in recombinant medicine. The advantages such as low toxicity, high specificity, and much lower molecular weight makes it easy to set up dosage plans for patients. However, therapeutic peptides were introduced into the market couple of decades back, its market share and growth has significantly increased in past five or six years. The key factors assisting the global peptide therapeutics market are rising healthcare expenditure along with increasing importance of healthcare sector in developing countries. The main disease indications that are driving the demand for peptide therapeutics are cancer, metabolic disorders, and central nervous systems. Application of peptide therapeutics in oncology treatment is increasing mainly due to high mortality rate and moderately due to broader focus on emerging alternatives therapies to chemotherapy. The key application of peptide therapeutics is into oncology mainly used for treating prostrate, pancreatic, ovarian, and breast cancer. During preclinical stages efficacy testing of peptides in oncology treatment especially focusing on its property of being antagonists or agonists to specific receptors is tested.
In 2015, cancer segment accounted of the major market share due to rising prevalence of cancers coupled with high disease diagnosis rate, rising public awareness associated with the peptide therapeutics and developing overall healthcare infrastructure and supportive government policies. In 2015, solid phase peptide synthesis accounted for the largest market share due to introduction of novel products equipped with SPPS especially focusing on oral route of drug delivery. Some of the examples such as initially Unigene and then Enteris Biopharma developed a technology named Peptelligence which is based on an enteric-coated tablet, whose core formulation comprises, along with peptide, an organic acid enzyme inhibitor and permeation enhancer which is claimed to help penetrate the mucus layer. North America was observed as the largest market in peptide therapeutics industry due to factors such as high awareness associated with therapeutic treatment developments in public, high acceptance for novel products and technologies from patients and medical practitioners, and high healthcare costs.
According to market experts, in the near future peptide therapeutics is expected to be a huge breakthrough for both patients and drug manufacturing companies. In manufacturing and development of non-invasive delivery technologies, cost optimization is expected to generate significant revenue growth and better treatment outcomes for the patients.
Key Market Movements:
Rising prevalence of cancer and metabolic disorders across the world
Incessant growth in research and development coupled with technological advances in field of therapeutic treatment
Along with expected drug approvals in peptide therapeutics market the upcoming patent cliff for drugs available in existing market is anticipated to create opportunity for generic peptides
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