Global Peptide Synthesis Market Is Expecting A Huge Revenue Growth By 2023
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Summary
- Major Growth Drivers:
- Increasing Use of Peptides in Pharmaceutical Drugs.
- Increase in Research Activities and Availability of Funding for R&D.
- Development of Advanced Peptide Synthesizers.
Recent Developments in the Global Peptide Synthesis Market:
# In 2018, CEM Corporation launched the Liberty PRIME, automated microwave peptide synthesizer.
# In 2017, Merck acquired Grzybowski Scientific Inventions (GSI) (US). This acquisition helped the company to expand its chemical synthesis portfolio.
# In 2015, Merck acquired Sigma-Aldrich Corporation (US). This acquisition strengthened Merck’s Life Science segment. Sigma-Aldrich’s SAFC Commercial business is now a part of Merck’s Life Science segment
Driver: Increasing use of peptides in pharmaceutical drugs drives the global peptide synthesis market
Peptides are highly active and highly specific drug substances. Due to the diversity of their biological functions, they are used in an extensive range of therapeutic areas. Also, they are increasingly entering drug development pathways as potential active pharmaceutical ingredients due to their large chemical space, high biological activity, high specificity, relative ease of synthesis, ready availability, and low toxicity.
Oncology, diabetes, and obesity are three prominent therapeutic areas in which peptides generate billions of dollars in revenues. As a drug modality, peptides and peptidomimetics occupy the interface between small molecules and larger biological drugs with the potential to have the specificity of antibodies and the bioavailability of small molecules. Moreover, peptides provide researchers with viable options for discovery, optimization, and manufacture, as they can be synthesized chemically or expressed by recombinant systems. As a result of these advantages, pharmaceutical companies are increasingly focusing on the development of peptide-based drugs.
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What the Market Looks Like?
The overall peptide synthesis market was valued at USD 292.4 million in 2017 and is projected to reach USD 426.4 million by 2023, at a CAGR of 6.5% during the forecast period.
Global Geographical Scenario:
APAC is expected to grow at the highest CAGR during the forecast period.
Global peptide synthesis market has been studied for North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. APAC is expected to grow at the highest CAGR in the peptide synthesis market, primarily due to the increasing investments by pharmaceutical and biotechnology companies and rising R&D activities in the region.
Global Leaders:
The prominent players in the peptide synthesis market are GenScript Biotech Corporation (CHINA), AAPPTec (US), Bachem (Switzerland), AnaSpec (US), Biotage (Sweden), CEM Corporation (US), Gyros Protein Technologies (Sweden), Advanced ChemTech (US), Merck KGaA (Germany) and New England Peptide, Inc (US). Product launches and agreements, partnerships and collaborations were the major strategies adopted by these payers to maintain their positions in the peptide synthesis market.
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