The Global Peptide Therapeutics Market is projected to reach $56.52 billion by 2028, from a value of $34.64 billion in 2022, by registering a CAGR of 8.5% during the forecast period. The rising incidence of cancer as well as metabolic disorders, rising healthcare spending and increased federal government healthcare spending, and, advancements in peptide manufacturing technology, are the major factors propelling the growth of the market. However, the production of peptides on a large scale with the increasing complexities of peptides and the high cost of peptide drugs are hampering the market growth. Moreover, the rise in focus on research & development and, the growing adoption of hybrid technologies, are creating ample opportunities across the globe.
Recent Developments
In May 2021, ISSAR Pharmaceuticals announced that it took the decision to license out its peptide-based new chemical entities (NCEs) with pre-IND filing and the United States Patent for various unmet healthcare needs of the population, making it affordable and accessible for better health outcomes.
In December 2019, CohBar, Inc. announced new preclinical data that confirmed the therapeutic potential of a novel CohBar peptide in a preclinical model of Idiopathic Pulmonary Fibrosis (IPF).
In August 2019, Aquinox Pharmaceuticals, Inc. and Neoleukin Therapeutics, Inc signed an agreement with an aim to develop and commercialize Computationally-designed protein therapeutics to address significant unmet medical needs in immuno-oncology, inflammation, and autoimmunity.
In July 2019, Xenetic Biosciences, Inc. acquired novel CAR T (Chimeric Antigen Receptor T Cell) platform technology, called XCART, designed to use screening technique to identify peptide ligands that bind specifically to the unique B-cell receptor of malignant tumor cells.
Competitive Landscape
Xenetic Biosciences, Inc, Takeda Pharmaceutical Company Limited, Sanofi, Pfizer Inc, Novo Nordisk A/S, Novartis AG, Merck & Co, Lonza Inc, ISSAR Pharmaceuticals, GlaxoSmithKline (GSK), Eli Lilly and Company, Bristol-Myers Squibb(BMS), Bachem Holding AG, AstraZeneca PLC, Amgen Inc, Aquinox Pharmaceuticals, Inc., ISSAR Pharmaceuticals, CohBar, Inc are some of the major players in the Global Peptide Therapeutics Market.
