The global peptide therapeutics market is expected to reach USD 48.04 billion by 2025, according to a new report by Grand View Research, Inc. Increasing demand for efficient & rapid-acting therapeutics for treatment of cancer and other lifestyle-associated disorders, which result in lesser adverse effects, are anticipated to propel market growth.
Rising incidence of cancer calls for exploring and introducing other means of therapies and low-cost treatment alternatives.
Moreover, growing base of geriatric population is expected to widen the consumer base by triggering incidence rate of target diseases such as cancer & diabetes, which are expected to drive the demand for peptide therapeutics.Technological advancements in peptide manufacturing process is one of the major factors driving the market growth during the forecast period.
Manufacturers and suppliers are focusing on the adoption of novel technologies to manufacture efficient drug molecules with low time and capital investment.
Improvement in purification & automation process and less generation of waste is an additional factor attributing toward market growthFurther Key Findings from the Study Suggest:Cancer held the largest market share in 2016 owing to increasing demand for alternative therapeutics over conventional treatment options.
Peptides are being used as potential therapeutic agents in cancer treatment.The generic drug segment is expected to showcase upward shift due to patent expiration of blockbuster peptides and supportive government initiatives pertaining to the introduction of generic class.Outsourced manufacturing is expected to grow at CAGR of 6.7% owing to requirements of complex procedures and shift in preference toward outsourcing, which helps in eliminating cost of production.Route of administration including nasal and intradermal routes is expected to grow at a rapid pace owing to ease of usage and advantages over other routes of administration such as oral.Hybrid technology is expected to spearhead the growth of this market.