The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

As per The Business Research Company’s Biosimilar Therapeutic Peptides Global Market Report 2023, the biosimilar therapeutic peptides market is expected to show significant growth in the forecast period.

Key insights from the biosimilar therapeutic peptides market forecast include:

1. Market Size

The global biosimilar therapeutic peptides market is expected to grow from $1.21 billion in 2022 to $1.58 billion in 2023 at a compound annual growth rate (CAGR) of 30.3%. The market size of biosimilar therapeutic peptides is expected to grow from $3.9 billion in 2027 at a CAGR of 25.3%.

2. Major Driver

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.

View More On The Biosimilar Therapeutic Peptides Market Report 2023 – https://www.thebusinessresearchcompany.com/report/biosimilar-therapeutic-peptide-global-market-report

3. Key Trend
   During the forecast period, the biosimilar therapeutic peptides market is expected to witness growth in research collaborations as well as research funding approvals. Collaborations with other companies and organisations are being prioritised by key companies in order to improve research and development, expand product portfolios, and expand geographical reach.For instance, in January 2020, a UK-based biotechnology company focusing on developing a class of therapeutics based on its proprietary bicyclic peptide technology announced a collaboration with Cancer Research UK to develop BT7401, a new bicyclic immuno-oncology candidate. Cancer Research UK will fund and sponsor the development of a new candidate. In addition to this, Sapience Therapeutics, Inc., a US-based biotechnology company focused on the research & development of peptide therapeutics, announced a research collaboration with the University of Bath (UK) to develop and discover new therapeutic agents for oncology applications. Hence, research collaborations to develop new therapeutic peptides are a major trend in the market.

4. Largest Region
   North America was the largest region in the biosimilar therapeutics market in 2022.

5. Major Players
   Major players in the biosimilar therapeutic peptides market are Eli Lilly, Sanofi, Takeda Pharmaceuticals, Teva Pharmaceuticals, Pfizer Inc., Amgen Inc., AstraZeneca PLC., GlaxoSmithKline (GSK), Novartis AG, and Novo Nordisk A/S.

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Key Biosimilar Therapeutic Peptides Market Segments
The global biosimilar therapeutic peptides market is segmented –
1) By Route Of Administration: Parenteral Route, Transdermal Route, Other Route Of Administrations
2) By Application: Cancer, Cardiovascular, Central Nervous Systems, Metabolic Disorders, Infection, Hematological Disorders, Gastrointestinal Disorders, Dermatology, Respiratory Disorders
3) By Type: Innovative, Generic

The Biosimilar Therapeutic Peptides Global Market Report 2023  provides an in-depth analysis on the biosimilar therapeutic peptides market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the biosimilar therapeutic peptides market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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