According to a TMR analyst, “The global market for peptide therapeutics was pegged at US$21.3 bn in 2015 and is expected to rise to a valuation of US$46.6 bn by 2024. The market is expected to expand at a 9.10% CAGR from 2016 to 2024.”
Albany, NY -- (SBWIRE) -- 10/11/2017 -- The global market for peptide therapeutics has been dominated by Teva, Novo Nordisk, Eli Lilly, and Sanofi, states Transparency Market Research (TMR) in a research report. These players collectively held a share of over 75% in the global peptide therapeutics market in 2015. These market players are directing thorough research and have taken up different improvement activities to highlight their particular shares in the overall industry, which is probably going to build the competition inside this market, states the research report.
The report breaks down the worldwide market for peptide therapeutics on the premise of various market parameters. One among them is the kind of molecule, in view of which, the market has been arranged into somatostatin, natriuretic, vasopressin, calcitonin, and immunopeptide. On account of the expanding use of immunopeptide for the treatment of a few conditions, for instance, tumors and cancers, the immunopeptide segment has been enlisting a higher development than others.
Since the treatment of these maladies is complex, more ventures is being made by the key market players in innovative development of various different treatments, among which the immuno treatment is the most supported one. This, thus is foreseen towards positive development of the immunopeptide segment soon, takes note of the investigation.
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Region-wise, the report sections the overall market for peptide therapeutics into the Middle East and Africa, Europe, North America, Latin America, and Asia Pacific. In 2015, North America procured the main position in the worldwide market with a share of over 38.8%.
It is anticipated that this region will hold its position over the time of the conjecture, because of the infrastructural headways in the healthcare and medical industry. The rise of peptide therapeutics as an exceptionally intense medications for the treatment of malignancy and different ailments and the prevalence of market leaders in the U.S. are additionally anticipated to help the North America market for peptide therapeutics in the coming years.
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The core reason behind the substantial growth of the global market for peptide therapeutics is the growing prevalence of cancer. As indicated by the WHO, almost 7 million individuals face death from cancer consistently and there will be more than 16 million new growth cases each year by 2020. Since chemotherapy is confronting significant difficulties because of its powerlessness to convey the right measure of medication directly, the utilization of peptides in tumor treatment has expanded, opening new roads for future development.
Going ahead, the rising rate of metabolic issue is probably going to make lucrative prospects for the players operating in the global peptide therapeutics market in the years to come. In any case, the absence of administrative models may confine the market from developing throughout the forecast period.
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.