The biosimilar therapeutic peptides market has undergone significant growth, increasing from $2.06 billion in 2023 to $2.68 billion in 2024, with a compound annual growth rate (CAGR) of 30.3%. This impressive growth is due to increasing demand for cost-effective therapeutics, regulatory support and frameworks, patent expirations of biologic drugs, rising incidence of chronic diseases, and robust manufacturing processes. Moving forward to 2028, the market is expected to continue its rapid growth, reaching $4.87 billion at a CAGR of 16.1%. Growth drivers for this period include expansion of therapeutic applications, the global aging population, market competitiveness, strategic collaborations and partnerships, and the growing preference for non-invasive therapies. Major trends include advancements in biotechnology, increasing demand for biologics, technological innovations in manufacturing, a focus on cost-efficiency, and enhanced access to healthcare through technological advancements.
Major Driver In The Biosimilar Therapeutic Peptides Market
The increasing ageing population is projected to surge the number of patients with chronic diseases, contributing to the biosimilar therapeutic peptides’ market's growth. Elderly people are more prone to various chronic diseases, which are 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 is expected to reach 2 billion by the end of 2050. Moreover, according to the World Population Prospects, the number of people aged 80 and above is likely to increase from 143 million in 2019 to 426 million in 2050. Biosimilar therapeutic peptides are used for the treatment of various chronic diseases and cancers. The expected increase in the ageing population suffering from various chronic conditions will drive the growth of biosimilar market. The market size for 2023 is not provided. For 2024 and 2028, the specific figures are not mentioned.
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Biosimilar Therapeutic Peptides Market Competitive Landscape
Pfizer Inc., F. Hoffmann-La Roche Ltd., Merck & Co. Inc., Novartis AG, Sanofi SA, AstraZeneca plc, GlaxoSmithKline plc, Takeda Pharmaceuticals Co. Ltd., Eli Lilly and Company, Amgen Inc., Novo Nordisk A/S, BioXpress Therapeutics SA, Apotex Inc., Teva Pharmaceuticals Industries Ltd., Sandoz International GmbH, Lonza Inc., Stada Arzneimittel AG, Ipsen S.A, Biocon Biopharmaceuticals Pvt. Ltd., Dr. Reddy's Laboratories Ltd., Alvogen Pharma US Inc., Corden Pharma GmbH, Bachem Holding AG, PolyPeptide Laboratories Ltd., PeptiDream Inc., Coherus BioSciences Inc., Celltrion Inc., Hyperion Therapeutics Inc., BioPartners Inc., Samsung Bioepis Co. Ltd.
Key Biosimilar Therapeutic Peptides Market Trend
Major companies in the biosimilar therapeutic peptide market are developing a research platform for optimizing peptide synthesis, enhancing production efficiency, and ensuring consistent quality, from discovery to commercialization. The Biodrug Design Accelerator is a platform to manage research processes for peptide drug discovery, which many regard as a promising frontier in the field of new drug development. For instance, in May 2023, Fujitsu Limited, a US-based toy manufacturing and entertainment company, launched the Biodrug Design Accelerator platform to accelerate peptide drug discovery research. The Biodrug Design Accelerator will support peptide drug discovery scientists in pharmaceutical companies to accelerate and improve the efficiency of peptide drug development, specifically through the cycles of design, make, test, analyze (DMTA), ultimately enabling accelerated and informed design of peptide drug candidates as well as efficient communication among scientists regarding synthesis and testing.
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Biosimilar Therapeutic Peptides Market Segmentation
The biosimilar therapeutic peptides market covered in this report is segmented –
1) By Type: Innovative, Generic
2) By Route Of Administration: Parenteral Route, Transdermal Route, Other Route Of Administrations
3) By Application: Cancer, Cardiovascular, Central Nervous Systems, Metabolic Disorders, Infection, Hematological Disorders, Gastrointestinal Disorders, Dermatology, Respiratory Disorders
By Geography:The regions covered in the biosimilar therapeutic peptides market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
North America was the largest region in the biosimilar therapeutics market in 2023.
The Biosimilar Therapeutic Peptides Global Market Report 2024 furnishes information about the global biosimilar therapeutic peptides market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
