PEPTIDE THERAPEUTICS MARKET: KEY INSIGHTS
- The global peptide therapeutics market will cross US$ 70 Bn in 2029.
- Rise in cases of oncological disorders in tandem with increasing healthcare spending would be critical in shaping market growth.
- Application of peptide therapeutics would be prominent in cancer treatment; adoption in treating metabolic disorders to rise.
- Parenteral route continues to attract significant stakeholders’ attention; market players to shift away from transdermal route.
- North America would remain in the vanguard of peptide therapeutics market; Asia Pacific (APAC) to represent worthwhile prospects.
KEY FACTORS SHAPING PEPTIDE THERAPEUTICS MARKET
Rising Prevalence of Oncological Disorders
Cancer is among the leading reasons behind mortalities, globally. FMI finds that, around 10 million mortalities due to cancer and around 19 million new cases are registered worldwide each year. Chemotherapy - conventional method of treating cancer - carries the drawback of inaccurate drug delivery to the intended location. In addition, it affects the normal cells adjacent to the targeted location. Application of peptide therapeutics in cancer treatment holds great promise in shaping the future landscape of the peptide therapeutics market.
Tech-driven Advancements to Provide Impetus to Growth Engine
Tech-driven advancements have been beneficial in bringing down overall costs involved in the production of peptide therapeutics. This has influenced manufacturers and suppliers to unleash novel avenues of manufacturing peptide therapeutics as well as address prolonged and complex chains of peptides. Radical shift towards hybrid technologies in order to reduce the strain on resources is likely to propel the global peptide therapeutics market in the near term.
Market Research Methodology - Perfected through Years of Diligence
A key factor for our unrivaled market research accuracy is our expert- and data-driven research methodologies. We combine an eclectic mix of experience, analytics, machine learning, and data science to develop research methodologies that result in a multi-dimensional, yet realistic analysis of a market.
COVID-19 Pandemic to Hit Profit Margins of Manufacturers
The COVID-19 pandemic has been severely affecting the global economic order, and, in turn, overwhelming almost every industry, with the healthcare industry at the front line of the pandemic.
As the epidemiological numbers continue to rise, governments around the world have imposed travel restrictions, self-quarantines, and social distancing norms. This will adversely affect businesses and consumer spending until Q2 ends. These factors will have a negative impact on the global peptide therapeutics market.
PEPTIDE THERAPEUTICS MARKET: STRUCTURE ANALYSIS
- The global peptide therapeutics market is consolidated, with a limited number of players operating in the market landscape.
- Leading players are emphasizing on market expansion through distribution agreements, joint ventures, and exploring white spaces in the peptide therapeutics market.
- In addition, established players are collaborating with local players in a bid to improve their regional presence and expand their production capacities.
- Base Year - 2019
- Historical Period - 2015-2019
- Forecast Period - 2020-2030
- Market Value in 2019 - US$ 25.6 Bn
- Segments Covered - Application, Route of Administration, Marketing, and Region
- Regions Covered - North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Japan, and the Middle East & Africa
- Key Companies - AstraZeneca plc., Eli Lilly and Company, Merck & Co. Inc., Novo Nordisk A/S, and Teva Pharmaceutical Industries Ltd.
- Growth Drivers
- Rise in chronic disorders, globally
- Upsurge in investments in oncological treatment
- Paradigm shift towards tech-enabled approach in manufacturing processes
High Preference for Parenteral Route of Administration
Parenteral route enables enhanced bioavailability, swifter onset of action, and better clinical outcomes, and, as such, is a preferable mode for delivering peptide therapeutics. The subcutaneous drug delivery route captures over 70% of total market stack, and would maintain its positive trend in the coming years.
However, parenteral route results in potential side effects and requires skilled staff for administration. Market players are thus moving to other administration routes, such as the oral route, which causes minimal pain and eliminates the need for external assistance.
Developed Regions to Represent Hub of Value-capture Opportunities
North America and Western Europe are characterized by conducive healthcare and payer infrastructure, and strong foothold of prominent healthcare industry executives. Together, these developed regions procure over 60% of overall peptide therapeutics market revenue. Moving forward, market players are also uncovering new revenue lines in Asia Pacific (APAC).
Affordable raw material prices and expanding base of outsourcing service providers are bringing the region to the attention of stakeholders. Towards the end of the forecast period, the APAC peptide therapeutics market will hit the US$ 10 Bn mark.
Outsourcing to CMOs - Sound Strategy to Gain Competitive Edge
Contract manufacturing organizations (CMOs) that provide end-to-end services to biotech and pharmaceutical companies are capturing huge attention, as they deliver better manufacturing, and compliance experience.
Players in the peptide therapeutics market are putting greater emphasis on outsourcing drug manufacturing to CMOs in order to curb operational expenses. Manufacturing peptide therapeutics provides limited room for players to develop distinctive strategies to secure a competitive edge. Pharmerging contract manufacturing allows market players to add technical resources to their existing business models.
How Growth will Unfold
Cancer is among the leading reasons for premature mortalities in a majority of countries. FMI finds that, in the following two decades, the number of new cancer cases is expected to cross 27 million per year, globally.
These facts and figures are enabling broader application of peptide therapeutics for the treatment of oncological disorders, wherein, their application would generate greater total returns to shareholders. Moreover, peptide therapeutics are finding increasing scope of application in treating metabolic and central nervous system (CNS) disorders.
PEPTIDE THERAPEUTICS MARKET TAXONOMY
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 readers.
- Cardiovascular Diseases
- Central Nervous Systems
- Metabolic Disorders
- Hematological Disorders
- Gastrointestinal Disorders
- Respiratory Disorders
- Other Applications
Route of Administration
- Parenteral Route
- Mucosal Route
- Oral Route
- Transdermal Route
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excluding Japan