Pune, India., June 09, 2021 (GLOBE NEWSWIRE) -- Peptide Therapeutics Market: Key Insights
According to our new research study on "Peptide Therapeutics Market to 2027 – Global Analysis and Forecast – by Type, Route of administration, Synthesis Technology, and Application," the Peptide Therapeutics Market Size was valued at US$ 24,878.55 million in 2019 and is projected to reach US$ 50,003.15 million by 2027; it is expected to grow at a CAGR of 9.2% during 2020–2027.
Peptide Therapeutics Market: Competition Landscape and Key Developments
Eli Lilly and Company, Amgen Inc., TEVA PHARMACEUTICAL INDUSTRIES LTD, Polypeptide Group, EVER Pharma GmbH, Bristol-Myers Squibb Company, Novo Nordisk A/S, Sanofi, AstraZeneca PLC, and GlaxoSmithKline PLC are among the key companies operating in the peptide therapeutics market. Leading players are focusing on the new product launch, expansion and diversification of their market presence, and acquisition of new customer base, thereby tapping prevailing business opportunities.
In December 2020, Novo Nordisk submitted a label extension application to the European Medicines Agency (EMA) for the existing marketing authorization for Ozempic, a once-weekly glucagon-like peptide-1 (GLP-1) analogue, to introduce a new dose of 2.0 mg.
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In June 2019, Eli Lilly and Company received FDA approval for its Emgality, a calcitonin gene-related peptide (CGRP) antibody for the treatment of migraine and episodic cluster headache.
In 2019, North America dominated the global peptide therapeutics market. The market growth in the region is attributed to growing awareness regarding peptide-based drugs, increasing investments in drug discovery, and rising demand for alternative therapies for chronic disease management. In December 2020, investors from PayPal Holdings Inc. invested US$ 35.4 million in US-based biotechnology company Peptilogics Inc. The company is engaged in the development of peptide-based therapeutics for the treatment of chronic conditions. At present, company's drug candidate PLG0206 is in phase 2 of clinical trials for the treatment of prosthetic joint infections. Moreover, in October 2019, Pepticom, an artificial intelligence (AI) based pharmaceutical company raised US$ 5.0 million through the rounds of series funding. The company is planning to utilize these financial resources to accelerate the development of an AI-based platform to leverage the peptide drug discovery. Such developments are estimated to catalyze the drug development and discoveries, which will eventually offer a favorable environment for North America peptide therapeutics market during the forecast period.
Based on type, the peptide therapeutics market is segmented into generic and innovative. The innovative segment held ~67.83% of the market share in 2019. In terms of route of administration, the peptide therapeutics market is segmented into parenteral, oral, mucosal, pulmonary, and others. The parenteral segment held the largest share of the market in 2019, and oral segment is anticipated to register the highest CAGR in the market during the forecast period.
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Based on synthesis technology, the peptide therapeutics market was segmented into solid phase peptide synthesis (SPPS), liquid phase peptide synthesis (LPPS), and hybrid technology. The solid phase peptide synthesis segment held the largest share of the market in 2019, and hybrid technology segment is anticipated to register the highest CAGR in the market during the forecast period. Based on application, the peptide therapeutics market is segmented into cancer, cardiovascular disorder, metabolic disorder, respiratory disorder, pain, and dermatology. The cancer segment held the largest share of the market in 2019.
Strong Pipeline and Applications of Peptide Drugs Fuel Peptide Therapeutics Market Growth:
The effectiveness of peptide-based drugs over cancer and other disorders is actively attracting huge investments by market players. These investments are leading to development of new therapeutic platforms, which is responsible for robust pipeline of peptide therapeutics. In addition, ongoing studies associated with the applications of peptides are also expected to have a positive impact on the pipeline, which is offering a lucrative opportunity for growth of the market. For instance, in December 2020, Clovis Oncology, Inc. announced the submission of its new drug application, FAP-2286. The company is developing this new drug-based peptide under peptide-targeted radionuclide therapy (PTRT) development program. Moreover, the new candidate is likely to be utilized for diagnosis of fibroblast activation protein (FAP)-positive tumors. In addition, in November 2019, NervGen Pharma Corp. received funding of US$ 1.5 million from its drug-manufacturing partner CSBio in order to boost the clinical research of its NVG-291, a peptide-based drug candidate for the treatment of multiple sclerosis and spinal cord injuries. Moreover, companies are also focusing on the establishment of strategic partnerships in order to boost the peptide production. For instance, in October 2020, Fujitsu Limited and PeptiDream Inc. entered into strategic collaboration for research on peptide candidates. The collaboration is planning to utilize digital annealer technologies to streamline the drug discovery with the help of peptides. Such developments are anticipated to offer a favorable environment for the market growth during the forecast period.
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Peptide Therapeutics Market: Segmental Overview
Based on type, the peptide therapeutics market is segmented into innovative and generic. In 2019, the innovative segment accounted for higher share of the market. Growth of this segment is majorly attributed to increasing investments in peptide research and development and growing number of product approvals. For instance, Novo Nordisk's Ozempic (semaglutide) received US Food and Drug Administration (FDA) approval in January 2020. It is used to reduce the risk of cardiovascular events such as stroke, heart attack, or death in adults with type 2 diabetes. Moreover, the rising number of research collaborations among market players is estimated to offer favorable environment for the segment growth.
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