DUBLIN–(BUSINESS WIRE)–The “Biosimilar Therapeutic Peptides Global Market Report 2021: COVID-19 Growth and Change to 2030” report has been added to ResearchAndMarkets.com’s offering.
The global biosimilar therapeutic peptides market is expected to grow from $0.76 billion in 2020 to $0.87 billion in 2021 at a compound annual growth rate (CAGR) of 14.5%. The market is expected to reach $2.25 billion in 2025 at a CAGR of 27%.
Major players in the biosimilar therapeutic peptides market are Eli Lilly, Sanofi, Takeda Pharmaceuticals, Teva Pharmaceuticals, Pfizer Inc., Amgen Inc., AstraZeneca PLC, GlaxoSmithKline (GSK), Novartis AG, and Novo Nordisk A/S.
The biosimilar therapeutic peptides market consists of sales of biosimilar therapeutic peptides by the companies that are engaged in developing and commercialization of biosimilar peptides drugs for therapeutic applications. Peptide drugs are used as replacement therapies which supplements peptide hormones when the endogenous levels tend to decrease. Biosimilar therapeutic peptides find its application in the treatment of cardiovascular diseases, metabolic diseases, respiratory conditions, cancer, and respiratory diseases.
The long and costly drug approval process is expected to limit the growth of the biosimilar therapeutic peptides market over the upcoming years. The development, approval, and launch of new drugs is an expensive and prolonged procedure that includes expensive research stages.
A new drug has to go through four phases of clinical trials and screening by the regulatory body including Food and Drug Administration (FDA) (USA), Medicines and Healthcare Products Regulatory Agency (MHRA) (UK), and Medicines and Healthcare Products Regulatory Agency (MHRA) (India).
According to a report of Tufts Center for the Study of Drug Development published by the Journal of Health Economics in 2019, a cost to develop new drugs is $2.6 billion whereas the approval rate for drugs entering clinical trail is less than 12%. Therefore, long and costly drug approvals of new drug candidates are anticipated to hinder the growth of biosimilar therapeutic peptides market.
During the historic period, biosimilar therapeutic peptides market witnessed a growth in research collaborations as well as research funding approvals. Key companies are focusing on collaborations with companies and organizations to enhance their research & developments, expand their product portfolio, and geographical reach.
For instance, in January 2020, a UK-based biotechnology company focusing on developing a class of therapeutics based on its proprietary bicyclic peptide technology announced a collaboration with Cancer Research UK to develop BT7401, a new bicycle immune-oncology candidate. Cancer Research UK will fund and sponsor the development of a new candidate. Hence, research collaborations to develop new therapeutic peptides is a major trend in the market.
The increasing aging population is projected to surge the patients with chronic diseases contributing to the biosimilar therapeutic peptides’ market growth. Elderly people are more prone to various chronic diseases, surging the old age population rapidly across the world and is predicted to continue over the forecast period.
According to the World Health Organization (WHO), the world’s population over the age of 60 years is expected to reach 2 billion by the end of 2050, up from 900 million in 2015. The expected increase in the aging population suffering from various chronic conditions will drive the biosimilar market.
Key Topics Covered:
1. Executive Summary
2. Biosimilar therapeutic Peptides Market Characteristics
3. Biosimilar therapeutic Peptides Market Trends and Strategies
4. Impact Of COVID-19 On Biosimilar therapeutic Peptides
5. Biosimilar therapeutic Peptides Market Size and Growth
5.1. Global Biosimilar therapeutic Peptides Historic Market, 2015-2020, $ Billion
5.1.1. Drivers Of the Market
5.1.2. Restraints On the Market
5.2. Global Biosimilar therapeutic Peptides Forecast Market, 2020-2025F, 2030F, $ Billion
5.2.1. Drivers Of the Market
5.2.2. Restraints On the Market
6. Biosimilar therapeutic Peptides Market Segmentation
6.1. Global Biosimilar therapeutic Peptides Market, Segmentation by Route Of Administration, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Parenteral Route
- Transdermal Route
- Others
6.2. Global Biosimilar therapeutic Peptides Market, Segmentation by Application, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Cancer
- Cardiovascular
- Central Nervous Systems
- Metabolic Disorders
- Infection
- Hematological Disorders
- Gastrointestinal Disorders
- Dermatology
- Respiratory Disorders
6.3. Global Biosimilar therapeutic Peptides Market, Segmentation by Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Innovative
- Generic
7. Biosimilar therapeutic Peptides Market Regional and Country Analysis
7.1. Global Biosimilar therapeutic Peptides Market, Split by Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
7.2. Global Biosimilar therapeutic Peptides Market, Split by Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
Companies Mentioned
- Eli Lilly
- Sanofi
- Takeda Pharmaceuticals
- Teva Pharmaceuticals
- Pfizer Inc.
- Amgen Inc.
- AstraZeneca PLC
- GlaxoSmithKline (GSK)
- Novartis AG
- Novo Nordisk A/S
- Ipsen S.A
- Merck & Co. Inc.
- F. Hoffmann-La Roche Ltd.
- Bachem Holding AG
- CordenPharma International
- BioPartners
- Hyperion Therapeutics
- PeptiDream
- Bachem Holding AG
- Lonza Inc.
- Bristol-Myers Squibb(BMS)
- PolyPeptide Laboratories
For more information about this report visit https://www.researchandmarkets.com/r/22nvqu
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