Global Biosimilar Therapeutic Peptides Market Analysis: Size, Drivers, Trends, Opportunities, And Strategies
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At What Rate is the Biosimilar Therapeutic Peptides Market Predicted to Expand Between 2024 and 2033?
In recent times, the biosimilar therapeutic peptides market has experienced significant growth. The size of the market is projected to increase from $2.06 billion in 2023 to $2.68 billion in 2024, with a compound annual growth rate (CAGR) of 30.3%. The historical growth can be traced back to factors such as a rising demand for affordable therapeutic solutions, supportive regulatory systems and frameworks, expiration of biologic drugs’ patents, an upsurge in chronic disease cases, and well-established manufacturing processes.
The market size of biosimilar therapeutic peptides is anticipated to witness exponential growth in the forthcoming years, with an expected valuation of $4.87 billion in 2028, signifying a compound annual growth rate (CAGR) of 16.1%. This anticipated growth is potentially due to factors such as the increased use of therapeutic treatments, the worldwide aging demographic, competitive market dynamics, strategic collaborations and partnerships, and the shift of patient preference towards non-invasive therapies. The landscape of the forecast period will be shaped majorly by trends such as biotechnology advancement, growing demand for biological treatments, innovation in manufacturing technologies, emphasis on cost-effectiveness and healthcare accessibility, and advancements in technology.
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What Forces Are Boosting the biosimilar therapeutic peptides Market’s Growth?
Projected increases in the aged population are expected to lead to an uptick in chronic disease patients, fuelling the biosimilar therapeutic peptides market expansion. A higher propensity for chronic illnesses among older individuals is causing a swift rise in the elderly population worldwide, a pattern anticipated to persist into the forecast period. The World Health Organization (WHO) forecasts that the universal population aged 60 and above will scale to 2 billion by 2050’s end. Additionally, as per the World Population Prospects, the 80 and above age demographic will likely rose from 143 million in 2019 to an estimated 426 million by 2050. Biosimilar therapeutic peptides are employed in the cure of various chronic ailments and cancers. The projected escalation in ageing population grappling with numerous chronic diseases will be a primary growth accelerant for the biosimilar sector.
What Key Segments Make Up the Biosimilar Therapeutic Peptides Market?
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
What Are the Latest Trends Impacting the Biosimilar Therapeutic Peptides Market?
Leading businesses in the biosimilar therapeutic peptide marketplace are creating a platform for research that streamlines peptide synthesis, improves production efficiently, and guarantees quality consistency, from the discovery stage through to commercialisation. Many view the Biodrug Design Accelerator, a platform for managing research procedures in peptide drug discovery, as a significant advancement in the pursuit of new drug development. For example, Fujitsu Limited, an American toy manufacturing and entertainment business, launched the Biodrug Design Accelerator platform in May 2023 to expedite the research process for discovering peptide drugs. The platform provides helpful support for pharmaceutical companies’ peptide drug discovery scientists by accelerating and enhancing the developmental efficacy of peptide drugs, particularly throughout the design, make, test, and analyze (DMTA) phases. As a result, the design of peptide drug candidates can be informed and accelerated, and efficient communication concerning synthesis and testing among scientists can be facilitated.
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What Regions Are Dominating the Biosimilar Therapeutic Peptides Market Growth?
North America was the largest region in the biosimilar therapeutics market in 2023. Middle East is expected to be the fastest growing region in the biosimilar therapeutic peptides market report during the forecast period. The regions covered in the biosimilar therapeutic peptides market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Biosimilar Therapeutic Peptides Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the biosimilar therapeutic peptides market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Biosimilar Therapeutic Peptides Market Include
1. Biosimilar Therapeutic Peptides Market Executive Summary
2. Biosimilar Therapeutic Peptides Market Segments
3. Biosimilar Therapeutic Peptides Market Size And Template Market Growth Rate
4. Key Biosimilar Therapeutic Peptides Market Trends
5. Major Biosimilar Therapeutic Peptides Market Drivers
……
25. Key Mergers And Acquisitions In The Biosimilar Therapeutic Peptides Market
26. Top Biosimilar Therapeutic Peptides Companies
27. Biosimilar Therapeutic Peptides Market Opportunities And Strategies
28. Biosimilar Therapeutic Peptides Market, Conclusions And Recommendations
29. Appendix
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