May 11, 2022
According to the research report titled ‘Global Peptide Therapeutics Market (2021 Edition) - Analysis By Drug Type (Generic, Innovative), Manufacturing Type (In-House, Outsourced), Application,, By Region, By Country: Market Insights, Covid-19 Impact, Competition and Forecast (2021-2026)’, available with MarketStudyReport, global peptide therapeutics market, which generated revenues worth USD 32.1 billion in the year 2020, is anticipated to expand substantially over the forecast period 2021-2026.
The surging prevalence of cancer, rising new drug development activities, & rapid innovative product launches in chronic metabolic disorders, increasing healthcare expenditure, growing prevalence of metabolic disorders, mounting geriatric population, and favorable approval ratings are some of the major factors driving the growth of the global peptide therapeutics market.
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The rising popularity of peptide therapeutics has shifted the focus of the healthcare industry from traditional small molecule-based to family-based pharmacological interventions. This rapid success of peptide therapeutics is primarily attributed to clinical benefits which include low toxicity, high target specificity, and favorable safety profiles.
Moreover, with the help of technological breakthroughs, new peptides are being discovered and developed as peptide drugs. Various companies are focusing on collaborating with biotechnology firms, which in turn should fuel the overall market growth.
Global pet therapeutics market is fragmented in terms of application scope, drug type, manufacturing type, and regional contribution. Based on application scope, the market is further segmented into gastrointestinal, metabolic, cardiovascular, oncology, neurological, and others.
Moving on to drug type, the market is divided into generic and innovative segments. As per manufacturing type, the market is segmented into in-house and outsourced segments.
The geographical analysis of this business space extends to Latin America, Asia-Pacific, North America, Middle East & Africa, and Europe, with major emphasis on countries such as South Korea, China, India, Japan, Italy, France, the U.K., Germany, U.S., and Canada.
The key players in the global peptide therapeutics industry include Novartis International AG, Pfizer Inc., Eli Lily and Company, Novo Nordisk A/S, Takeda Pharmaceutical Company Limited, Sanofi S.A., GlaxoSmithkline, AstraZeneca plc, Amgen Inc., and Bristol-Mayer Squibb.