DUBLIN--(BUSINESS WIRE)--The "Peptide Therapeutics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The Peptide Therapeutics Market is valued at approximately USD 28,510.60 million in 2020 and is expected to witness a revenue of USD 51,360.30 million in 2026, with a CAGR of 9.66% over the forecast period (2021-2026).
- Eli Lilly and Company
- Amgen, Inc.
- Pfizer, Inc.
- Bristol-Myers Squibb Company
- Sanofi SA
- Takeda Pharmaceutical Company Limited
- Teva Pharmaceuticals Industries Ltd
- AstraZeneca PLC
- GlaxoSmithKline plc
- Novo Nordisk A/S.
- Novartis AG
Key Market Trends
Cancer Application is Expected to Register the Highest CAGR Over the Forecast Period.
Peptides offer favorable prospects in targeted drug delivery for cancer due to their high specificity, discernment, small sizes, ease of modification, and high biocompatibility. The increasing frequency of cancer globally and increasing prescription of peptide therapeutics for cancer treatment are the key factors responsible for the dominance of this segment.
According to the International Agency Research on Cancer- GLOBOCAN 2020 report, the total number of 19,292,789 new cancer cases were diagnosed worldwide in 2020, with 9,958,133 deaths due to cancers. Also, the five-year prevalent cases of cancers were estimated to be 50,550,287 globally. The number of new cancer cases is expected to reach 28,887,940 by 2040 worldwide. Thus, the high prevalence of cancers globally plays a vital role in the growth of the studied segment over the forecast period. Furthermore, rising awareness among patients and healthcare professionals regarding the adverse effects of chemotherapy and radiation therapy is a major factor for growing focus towards alternative therapeutics such as peptide-based drugs.
However, according to the research article published in Nature Cancer, 2020, the COVID-19 pandemic is expected to have disrupted the spectrum of cancer care, including delayed diagnoses, treatment, and halting clinical trials aimed at developing efficient therapeutics for cancer treatment, within which peptide therapeutics for cancer treatment is of no exception. Hence, the studied segment is predicted to be significantly impaired during the pandemic.
North America Dominates the Market and Expected to do Same in the Forecast Period
North America is expected to dominate the overall market, throughout the forecast period. The market growth is due to factors such as a rise in awareness levels relating to peptide therapeutics products, increasing necessity for diagnostics in cancer and other diseases, and the growing biotechnology industry.
Increasing research and development expenditure by government and key players is also expected to help peptide therapeutics sustain dominance over the coming years. A properly established biopharmaceutical & pharmaceutical industry in this region is a major factor responsible for growth. In the North America region, the United States holds the largest market share due to factors such as an increasing number of research programs in the medical industry, along with a growing number of diseases in the country, which is anticipated to stimulate the demand in this region. According to the estimates of the American Cancer Society, in 2020, an estimated 1.8 million new cancer cases were diagnosed, and 606,520 cancer deaths were reported in the United States.
However, according to the research article published in Applied Clinical Trials, in Oct 2020, the COVID-19 pandemic caused major disruptions to clinical trial execution in the United States, impacting key stakeholders across the healthcare industry. The Sponsors, CROs, and other organizations that support drug development shifted to remote working environments and an estimated 80% of non-COVID-19 trials were stopped or interrupted as a result of the COVID-19 pandemic. Hence, COVID-19 is expected to have a significant impact on the non-COVID-19 peptide therapeutics market in the region during the pandemic.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Prevalence of Cancer and Metabolic Disorders
4.2.2 Rising Investments in Research and Development of Novel Drugs
4.2.3 Technological Advancements
4.3 Market Restraints
4.3.1 Instability of Peptides
4.3.2 High Cost of Developing Drugs and Stringent Regulatory Requirements for Drug Approval?
4.4 Porter's Five Force Analysis
5 MARKET SEGMENTATION
5.1 By Marketing type
5.2 By Application
5.3 By Route of Administration
5.4.1 North America
5.4.4 Middle East and Africa
5.4.5 South America
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/wzpu9n