Global Peptide Therapeutics Market, By Product Type (Branded Peptide and Generic Peptide), By Application (Cancer, Cardiovascular Disease, Metabolic Disease, Respiratory Disease, Infectious Disease, and Others), By Route of Administration (Oral Administration, Parenteral Administration, and Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 44,386.9 Million in 2023 and is expected to exhibit a CAGR of 6.6% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
Key players in the market are focusing on adoption of inorganic growth strategies, such as partnerships and collaborations in order to strengthen their market presence in the global peptide therapeutics market, is expected to drive the market growth over the forecast period. For instance, in November 2022, Exelixis, Inc., a commercially successful, oncology-focused biotechnology company, and Cybrexa Therapeutics, a cancer therapeutics company, announced that both companies have entered into an exclusive collaboration agreement providing Exelixis the right to acquire CBX-12 (alphalex exatecan), a clinical-stage, first-in-class peptide-drug conjugate (PDC) that utilizes Cybrexa’s proprietary alphalex technology to enhance delivery of exatecan to tumor cells
Global Peptide Therapeutics Market– Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), that first appeared in Wuhan (province of Hubei, China) in the last months of 2019 as "coronavirus disease 2019" or COVID-19. This virus spreads quickly and had a serious negative impact on the economies, social behaviors, and healthcare industry of every country in the world.
The COVID-19 affected the economy in three main ways: By directly affecting production and demand, By creating disruptions in distribution channels, and Through its financial impact on firms and financial markets. Due to the lockdown, several countries such as India, China, Brazil, and others faced problems with regards to the transportation of drugs from one place to another.
The COVID-19 had a positive impact on the global peptide therapeutics market, owing to its potential application in the COVID-19-pandemic. For instance, in April 2022, an article published by Springer Nature, showcased the use of peptide-based vaccines and therapeutics for COVID-19.
Global Peptide Therapeutics Market: Key Developments
In January 2022, ONL Therapeutics, Inc., a clinical-stage biopharmaceutical company developing novel therapies for protecting the vision of patients with retinal disease, closed its second tranche of its Series B financing. The total proceed raised in the Series B was US$ 46.9 Million.
In May 2022, Sapience Therapeutics, a clinical-stage biotechnology company focused on the discovery and development of peptide therapeutics, announced US$41 Million Series B Financing to Advance Pipeline of Peptide Therapeutics Targeting Protein-Protein Interactions.
In December 2022, Mirati Therapeutics, Inc., a targeted oncology company, announced the U.S. Food and Drug Administration (FDA) approval for KRAZATI, a targeted treatment option for patients with locally advanced or metastatic non-small cell lung cancer
In May 2022, AmbioPharm Inc., a pharmaceutical company, announced that it has received U.S. Food and Drug Administration (FDA) approval for tirzepatide (Mounjaro) for the treatment of adults with type II diabetes.
The increase in product launches and company acquisitions by key market players, it is expected that the global peptide therapeutics market will exhibit a rise during the forecast period.
Browse 35 Market Data Tables and 32 Figures spread through 184 Pages and in-depth TOC on “Global Peptide Therapeutics Market”- Forecast to 2030 By Product Type (Branded Peptide and Generic Peptide), By Application (Cancer, Cardiovascular Disease, Metabolic Disease, Respiratory Disease, Infectious Disease, and Others), By Route of Administration (Oral Administration, Parenteral Administration, and Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/peptide-therapeutics-market-1837
Key Takeaways of the Global Peptide Therapeutics Market:
- Global peptide therapeutics market is expected to exhibit a CAGR of 6.6% during the forecast period. Increasing adoption of inorganic growth strategies, such as increasing finances by key players in the market in order to expand product portfolio, is expected to drive the market over the forecast period. For instance, Mytide Therapeutics, a biotechnology company, raised US$7 million to transform peptide manufacturing with machine learning.
- Among product type, branded peptide segment is estimated to hold a dominant position in the global peptide therapeutics market over the forecast period, owing to increasing adoption of organic growth strategies, such as product launches by the key players in the market in order to expand their product portfolio. For instance, in January 2023, P&G skincare brand, OLAY announced new moisturizing product containing different peptides.
- Among region, North America is expected to be the dominant region in the global peptide therapeutics market, owing to increasing adoption of organic growth strategies, such as product launch by the key players in the market in oder to expand their product portfolio and strengthen their market presence, and this is expected to drive the market over the forecast period. For instance, in December 2022, Keys Soulcare, a lifestyle beauty brand, launched the Truly Becoming Multi-Benefit Peptide Serum that plumps, hydrates, and visibly reduces fine lines and wrinkles with a poly-peptide complex and marine bamboo.
- Major players operating in the global peptide therapeutics market include Teva Pharmaceutical Industries Ltd, Novo Nordisk A/S, OPKO Health, Inc., Lilly, Hanmi Pharm.Co., Sanofi, Circle Pharma, Pfizer Inc., Novartis AG, PeptiDream Inc., Amgen Inc., AstraZeneca, Bachem Holding AG, CordenPharma International, Ipsen Pharma, Merck KGaA, PolyPeptide Group, and Bayer AG.
