The world market for peptide therapeutics has been experiencing a
significant surge in its valuation and size since the last couple of
years. The important elements that are boosting the growth and
further progress of this market are the increasing prevalence of
disorders pertaining to metabolism and the expanding pool of patients
of cancer. The advancements in technology, leading to substantial
reduction in the cost of production of peptide drugs are also
impacting positively the said market remarkably.
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The world market for peptide therapeutics market is quite
consolidated in nature. The said international market for peptide
therapeutics is being dominated by the likes of Teva, Eli Lilly, Novo
Nordisk, and Sanofi as mentioned in the market research report by
Transparency Market Research (TMR). These prominent market players in
all hold a share of over 75% in the world market for peptide
therapeutics in the year 2015. These prominent market players are
thriving through research and have initiated and implemented various
improvement activities so as to showcase their specific shares in the
overall industry. Such moves are likely to build and fuel the
competition inside this said market, observes the market intelligence
report.
In accordance with TMR analyst, the world market for peptide
therapeutics was valued at US$ 21.3 bn in the year 2015 and is
anticipated to rise to a market valuation of around US$ 46.6 bn by
the year 2024. The said market is anticipated to rise at a growth
rate of 9.10% from the year 2016 to the year 2024.”
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Taking geography into consideration, the world market for peptide
therapeutics is classified into North America, Latin America, Europe,
Middle East and Africa and Asia Pacific. North America spearheaded
the world market for peptide therapeutics with a market share of
38.8% in the year 2015 and the region is foreseen to continue with
its supremacy over the years to come. The progress in the
infrastructure in the healthcare system and with the introduction of
peptide therapeutics as a highly potent drug that is utilized in the
therapies of hormonal and oncology are quite likely to give boost to
the growth of the market for peptide therapeutics in North America in
the years to come.
In addition to this, the existence of already well-established market
players in the United States is also estimated to encourage the
regional market over the period of forecast that extends from the
year 2016 to 2024. The supremacy of North America is trailed by
Europe. The region stood at second position in the year 2015, it is
also expected to experience healthy rate of growth over the years to
come.
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The world market for peptide therapeutics is driven by a lot of
growth promoting factors. The main reason that lies at the heart of
the significant growth of the international market for peptide
therapeutics is the rising prevalence of cancer worldwide. As World
Health Organization or WHO mentioned that almost around 7 million
people face threat of death from cancer consistently and it is
further estimated that there would be more than around 16 million new
cancer cases every year by 2020. Just because the therapy of
chemotherapy is facing substantial difficulties owing to of its
inability to convey the correct measure of medication directly, the
usage of peptides in the treatment of tumor has expanded thereby
coming up with new avenues for the development of the future.
In the years to come, the soaring rate of issues related to
metabolism is likely to make promising prospects for the market
players that are operating in the world market for peptide
therapeutics in the forthcoming years. Furthermore, the non-existence
of administrative models might limit the said market from developing
over the period of forecast.
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