Use of Peptide Therapeutics in Treatment of Diverse Medical Conditions Stimulates Market Growth
Peptide Therapeutics Market — Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 — 2020. Use of Peptide Therapeutics in Treatment of Diverse Medical Conditions Stimulates Market Growth
According to a new market study released by Transparency Market Research (TMR), the global peptide therapeutics market will be valued at US$23.7 bn by 2020, increasing from its 2013 valuation of US$18.9 bn. If the projected figure hold true, the market will rise at a moderate 2.8% CAGR from 2014 to 2020. The report is titled “Peptide Therapeutics Market — Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 — 2020” and is available for sale on the company website.
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Therapeutic peptides have received acceptance in the treatment of several diseases such as metabolic disorders, cancer, nervous system disorders, gastrointestinal disorders, acromegaly, hematological disorders, cardiovascular disorders, infections, and respiratory disorders, among others. Due to the efficacy of peptides for the treatment of a large number of medical conditions, further research and development has resulted in a rich pipeline of novel peptides that deliver better therapeutic effects.
Though animal sources such as venom constitute the major source for peptide research, microbial sources are also being examined for their efficacy for treatment of various medical conditions. The growing variety of sources as well as applications of peptide therapeutics is boosting growth prospects of the global peptide therapeutics market. However, despite extensive research, oral administering of therapeutic peptides still remains a challenge for researchers, which is indirectly hampering the peptide therapeutics market. Unfavorable physiological conditions such as the presence of proteolytic enzymes and acidic pH pose a challenge for oral administering of peptide therapeutics. Moreover, low intestinal penetrability of peptides also adds to the low bioavailability of these substances.
Lately, a strong trend has been observed in the peptide therapeutics market: whilst new peptide therapeutic drugs receive regulatory permission, several older peptide therapeutic drugs will go off-patent during the forecast period. In addition, difficulties associated with imitating the precise effects of biologics are a major reason for generic drug manufacturers to face drug approval issues. Thus, generic peptide therapeutic drugs are priced only 70-80% as much as branded peptide therapeutics. Due to this price gap, high demand for generic versions is expected to help the peptide therapeutics market overcome its restraints.
Presently, the generic peptide therapeutic leuprolide is retailed under the brand names Eligard, Lupron, and Enantone, of which Lupron and Enantone constitute sales over US$800 mn across the world.On the competitive front, currently, Teva Pharmaceutical Industries Ltd., Novo Nordisk, and Takeda Pharmaceutical Co. Ltd. collectively account for more than 50% of the global peptide therapeutics market. However, the patent expiration of Copaxone in 2014 and Velcade in 2017 will lead to launch of their generic alternatives. Some other prominent players in the global peptide therapeutics market are AstraZeneca plc, Eli Lilly & Co., Merck & Co., Novartis International, and AbbVie Inc.
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Transparency Market Research (TMR) is a next-generation provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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