Global Biosimilar Therapeutic Peptides Market To Have Growth Rate Of 30% Through 2023

The global biosimilar therapeutic peptides market is expected to decline from $0.80 billion in 2019 to $0.77 billion in 2020 at a compound annual growth rate (CAGR) of -3.45%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities resulting in operational challenges. The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to recover and reach $1.72 billion in 2023 at a CAGR of 30.48%. The increase in the aging population is projected to surge the patients with chronic diseases contributing to the growth of the biosimilar therapeutic peptides market. However, the long and costly drug approval process is expected to limit the growth of the market.

Peptide drugs are used as replacement therapies, which supplement peptide hormones when the endogenous levels tend to decrease. Biosimilar therapeutic peptides are used in the treatment of cardiovascular diseases, metabolic diseases, respiratory conditions, cancer, and respiratory diseases.

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The global biosimilar therapeutic peptides market is further segmented based on type and geography.
By Route Of Administration: Parenteral Route, Transdermal Route, Others
By Application: Cancer, Cardiovascular, Central Nervous Systems, Metabolic Disorders, Infection, Hematological Disorders, Gastrointestinal Disorders, Dermatology, Respiratory Disorders
By Geography: The global biosimilar therapeutic peptides market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.

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Trends In The Biosimilar Therapeutic Peptides Market
Key companies are focusing on collaborations with companies and organizations to enhance their R&D and expand their product portfolio and geographical reach.
Biosimilar Therapeutic Peptides Global Market Report 2020 is one of a series of new reports from The Business Research Company that provides biosimilar therapeutic peptides market overviews, analyzes and forecasts biosimilar therapeutic peptides market size and growth for the global biosimilar therapeutic peptides market, biosimilar therapeutic peptides market share, biosimilar therapeutic peptides market players, biosimilar therapeutic peptides market size, biosimilar therapeutic peptides market segments and geographies, biosimilar therapeutic peptides market trends, biosimilar therapeutic peptides market drivers and biosimilar therapeutic peptides market restraints, biosimilar therapeutic peptides market’s leading competitors’ revenues, profiles and market shares. The biosimilar therapeutic peptides market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.