The global market for peptide therapeutics is competitive in nature with a moderate level of consolidation, states a new market research study by Transparency Market Research. The leading players in the market are focusing on research and development activities, which are anticipated to generate promising growth opportunities for the market players in the next few years. Some of the leading players operating in the peptide therapeutics market across the globe are Eli Lilly, Teva, Novo Nordisk, and Sanofi. In addition to this, the growing emphasis on innovations and development of new techniques are some of the other key factors that are predicted to accelerate the growth of the overall market and enhance the competitive environment in the next few years. Furthermore, technological advancements in this field is another major factor encouraging the competition among the key players in the near future.
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According to the market research study by Transparency Market Research, in 2015, the global market for peptide therapeutics was worth US$ 21.3 bn and is projected to reach a value of US$ 46.6 bn by the end of 2024. The market is predicted to register a promising 9.10% CAGR between 2016 and 2024.
Presence of Leading Players to Drive North America Peptide Therapeutics Market
The global market for peptide therapeutics has been classified on the basis of geography, among which North America is anticipated to account for a large share of the global market in the next few years. In the last few years, this region led the global market and is projected to remain in the similar position in the near future. The high growth of this region can be attributed to the rapid development of the healthcare infrastructure and the introduction of advanced peptide therapeutics. In addition to this, the presence of a large number of players operating in this region and the increasing emphasis on innovations and developments are some of the other factors that are projected to enhance the growth of the market in the near future.
The global market for peptide therapeutics has been categorized on the basis of application into drugs for metabolic disorders, central nervous systems therapeutics, respiratory disorder therapeutics, renal therapeutics, cancer treatment, gastrointestinal tract therapeutics, cardiovascular disease therapeutics, anti-infective drugs, and dermatology therapeutics. Among these, the cancer treatment segment is anticipated to witness a high growth in the next few years, owing to the rising focus of players on development of new products and drugs. In addition to this, technological advancements and the increasing research and development activities are some of the other factors that are predicted to encourage the growth of this segment in the next few years.
Global Market to Gain Traction with Rising Prevalence of Cancer
The global market peptides therapeutics is anticipated to grow significantly throughout the forecast period. The increasing prevalence of cancer across the globe is one of the major factors anticipated to encourage the growth of the overall peptide therapeutics market in the next few years. The growing focus on technological advancements and innovations is predicted to generate potential growth opportunities for the market players in the next few years.
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This information is based on the findings of a research report published by Transparency Market Research (TMR), titled “Peptide Therapeutics Market (Application – Cancer, Metabolic, CVD, Respiratory, GIT, Anti-infective, Dermatology, CNS, and Renal; Route of Administration – Parenteral and Oral; Type – Innovative and Generic; Technology – Liquid Phase, Solid Phase, and Hybrid Phase; Type of Molecule – Vasopressin, Somatostatin, Calcitonin, and Natriuretic, Immunopeptide; API Peptide Type – In-house and CMO) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024.”
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