The size of the Middle East and African peptide therapeutics market is predicted to hike at a healthy CAGR from 2021 to 2026.
Factors include the increasing prevalence of cancer, increasing health expenditure, increasing incidence of metabolic disorders, increasing geriatric population, and accelerating the number of therapeutic drugs based on approved peptides.
The growing incidences of cancer and metabolic disorders, such as osteoporosis, obesity, and diabetes, are some of the main factors driving the growth of the peptide therapeutics market during the forecast period. In addition, the need for inexpensive and effective drugs is great due to the growth of the affected pediatric population and the incidence of target diseases in low-cost countries. The market will show a good growth rate for the peptide therapeutics market due to the various initiatives taken by many companies for the development of new drug candidates. CMOs offering a complete solution to biotech, pharmaceutical companies are increasing due to the shift in focus of pharmaceutical companies to seek better opportunities in the peptide therapy market.
The market is expected to experience some trends, such as expansion in the volume of generic peptides, rapid adoption of outsourced peptide APIs, and increased investment in research and development of new drugs. In addition, according to data from Omnia Health 2019, there is an increasing incidence of epidemic skin cancer data globally and in the region, which requires efforts to promote awareness and implement standardized screening programs. Patients living in areas with high average annual heatstroke, such as the United Arab Emirates, should take extra precautions to fight skin cancer. In the UAE, Skin cancer is one of the most commonly found malignancies, with a prevalence rate of 14.9%. Hence, the above-mentioned factor is likely to drive the growth of the market.
However, the operational limitations of peptides will restrain the growth of the market. Additionally, market growth would be compromised by the availability of generic or biosimilar peptide therapeutic drugs, the high cost of drug development, stringent regulatory requirements, and the complexity of peptide production.
Impact of COVID-19 on the MEA peptide therapeutics market:
MEA region has seen a dramatic increase in demand for the management of COVID-19, as the effectiveness of this drug is more useful than other drugs. Such high demand for these drugs has presented the greatest opportunity for major manufacturers of drugs to treat COVID-19. Furthermore, due to the increased demand for vaccines and treatment drugs for COVID-19, the pharmaceutical and biotechnology industry is expected to experience significant growth in the future.
This research report on the Middle East and Africa peptide therapeutics market has been segmented and sub-segmented into the following categories:
By Type:
By Application:
By Type of Manufacturers:
By Route of Administration:
By Synthesis Technology:
By Country:
Geographically, the Middle East region dominates the MEA peptide therapeutics market due to the increasing levels of awareness of peptide therapies, the growing demand for diagnostics of cancer and other diseases, and the growing biotechnology industry are factors that are mainly driving the growth of the market. Increased government R&D spending is also expected to help the peptide therapy market stay under control in the near future. In addition, a well-developed biopharmaceutical and pharmaceutical industry in this region will be an important factor for the market growth. The UAE is expected to show remarkable growth in the market due to huge unexplored opportunities, declining commodity prices, a growing base of companies offering outsourcing services, a booming biotechnology industry, and funding growth in the research and development sector. The cheap raw material prices and the expiration of patents on popular drugs that help the aging market provide tremendous growth opportunities for the MEA peptide therapy market.
The fastest-growing regional market is Saudi Arabia due to increased research and development activities for the development of innovative peptide therapies and improvements in healthcare infrastructure, as well as the increase in the prescription for peptide therapeutics due increase in a large number of patients with chronic diseases like diabetes and cancer that will help market growth in future.
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 prominent companies operating in the MEA peptide therapeutics market.
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