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

The Business Research Company’s biosimilar therapeutic peptides market report forecasts the biosimilar therapeutic peptides market size to grow to $3.9 Billion by 2027, with a CAGR (compound annual growth rate) of more than 25%.

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

Biosimilar Therapeutic Peptides Market Size Forecast

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 Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The biosimilar therapeutic peptides market is expected to grow from $3.9 billion in 2027 at a CAGR of 25.3%.

North America held the largest biosimilar therapeutic peptides market share, and Middle East was the fastest-growing region in 2022.

Key Biosimilar Therapeutic Peptides Market Driver ­– Increase In The Ageing Population

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 biosimilar market.

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Key Biosimilar Therapeutic Peptides Market Trend – Growing Research Collaborations

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.

Biosimilar Therapeutic Peptides Market Segment

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

Biosimilar Therapeutic Peptides Market Major Players and Strategies

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.

In September 2020, Ligand Pharmaceuticals Incorporated, a US-based biopharmaceutical company, acquired Pfenex Inc. for an undisclosed amount. The acquisition would provide Ligand access to its proprietary protein expression technology. The transaction has the potential to have a materially beneficial scientific and financial impact on our business in the immediate and long terms. Pfenex would provide Ligand with a well-established, tested protein expression platform that would provide a great complement to our vital, exclusive drug discovery and formulation technologies. Pfenex Inc. is a US-based manufacturer of biosimilars, including teriparatide, ranibizumab, and pegfilgrastim.

The Biosimilar Therapeutic Peptides Global Market Report 2023 covers regional data on biosimilar therapeutic peptides market size, biosimilar therapeutic peptides market trends and drivers, opportunities, strategies, and biosimilar therapeutic peptides market competitor 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.

Biosimilar therapeutic peptides refer to a peptide drug that is used in place of or in addition to peptide hormones when endogenous levels tend to decline. Therapeutic peptides that are biosimilar have applications in the treatment of cancer, metabolic, pulmonary, cardiovascular, and other illnesses.

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