The size of the Asia-pacific peptide therapeutics market is estimated to be growing at a CAGR of 9.96% from 2021 to 2026.
The increase in the prevalence of different types of cancer and metabolic disorders, favorable investments in research and development of newer drugs, and technological advancements in peptide therapeutics are the major growth factors of the market. According to the World Health Organization (WHO), chronic diseases such as cancer, cardiovascular disease, and diabetes are the leading causes of death and disability worldwide. Furthermore, chronic disease rates are accelerating globally, increasing in all regions and dominating all socioeconomic classes. In 2020, the contribution of chronic disease was estimated to have caused 75% of all deaths and 62 % of the global disease burden. Hence, the increasing incidence of chronic diseases is accelerating the need for effective therapies, which is expected to drive the growth of the APAC peptide therapeutics market.
The increase in metabolic and infectious disorders cases is expected to drive market growth during the forecast period. The Centers for Disease Control and Prevention (CDC) reports that approximately 35.2 million people in Asia were diagnosed with diabetes in 2020. In addition, the prevalence of diabetes continues to increase from previous decades. Furthermore, diseases such as brain disorders and cancer are increasingly common, leading to rising health care costs.
Patients and healthcare professionals are increasingly aware of the negative effects of chemotherapy and radiation therapy, leading to a greater emphasis on alternative therapies such as peptide drugs. The growing demand for effective and rapid-acting therapies is expected to further fuel growth.
However, the instability of peptide therapeutics and the high cost for drug development, stringent regulatory requirements for drug approval, expiration of drugs, and exclusivity of successful peptide therapies during the forecast period will have a restrictive impact on the market.
Impact of COVID-19 on the APAC peptide therapeutics market:
COVID-19 could positively impact the therapeutic peptide market, as peptide drugs are seen as a treatment option to treat COVID-19. However, the peptide therapeutics that had applications involving oncology, metabolic disorders, etc., have been disrupted due to drug shortages and supply chain issues, and slow progress in clinical trials related to non-COVID-19 therapies.
Government funding for the use of peptides in the production of COVID-19 vaccines is expected to provide a potential incentive for the adoption of the peptides, potentially driving the growth of the APAC peptide therapeutics market.
This research report on the North American peptide therapeutics market has been segmented and sub-segmented into the following categories:
By Type of Manufacturers:
By Route of Administration:
By Synthesis Technology:
The APAC peptide therapeutics market is expected to expand significantly over the forecast period, owing to the rising number of biotech companies and government healthcare expenditure, as well as the growing prevalence of cancer and nervous system disorders; these factors will have a positive impact on the market growth in APAC region.
Countries with financial difficulties such as Pakistan, India, the Philippines, and Vietnam are more likely to implement cost-effective and reliable peptide therapies to lower healthcare costs. The Cancer Society study suggests that 1.75 million new cancer cases and 606,620 deaths will be diagnosed by 2020. Governments in the APAC region are likely to receive favorable discounts for peptide therapies, public awareness, and the implementation of policies to encourage consumers and clinicians to seek cost-effective peptide therapy to introduce investigational drugs for the treatment of serious disorders.
According to the Australian Bureau of Statistics, from their self-acclaimed reports, an estimated nearly 1.5 million Australians and 4.99% of the total population got diabetes in 2019. Therefore, increased investments in developing new drugs for peptide therapies and the applicability of therapies for the treatment of viral infections and chronic diseases are expected to accelerate the APAC peptide therapy market revenue during the forecast period.
KEY MARKET PLAYERS:
Eli Lilly and Company, Amgen, Inc., Pfizer, Inc., Bristol-Myers Squibb Company, Ever Neuro Pharma GmbH, Takeda Pharmaceutical Company Limited, AstraZeneca PLC, GlaxoSmithKline plc, Novo Nordisk A/S., Novartis AG, Zealand Pharma AG, AmbioPharm Inc., Bachem Holding AG, PolyPeptide Group, Sanofi SA, Amylin Pharmaceuticals, CirclePharma, Inc., PeptiDream Inc., Apitope Technology, Arch NioPartners, and Galena Biopharmaceuticals are some of the noteworthy participants in the APAC peptide therapeutics market profiled in this report.