Biosimilar Therapeutic Peptides Global Market Report 2023


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.

New York, Feb. 08, 2023 (GLOBE NEWSWIRE) -- announces the release of the report "Biosimilar Therapeutic Peptides Global Market Report 2023" -

The global biosimilar therapeutic peptides market is expected to grow from $0.93 billion in 2021 to $1.21 billion in 2022 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, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The biosimilar therapeutic peptides market is expected to reach $3.50 billion in 2026 at a CAGR of 30.3%.

The biosimilar therapeutic peptides market consists of sales of pegfilgrastim, bevacizumab, and adalimumab.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.

The value of goods in this market includes related services sold by the creators of the goods.

Biosimilar therapeutic peptides refer to a peptide drug that are emplyed 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.

North America was the largest region in the biosimilar therapeutics market in 2022.Middle East is expected to be the fastest growing region in 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 and Africa.

The main types of biosimilar therapeutic peptides are innovative and generic.Biosimilar medications are frequently mistaken for generic drugs.

Both are marketed as low-cost knockoffs of high-priced name-brand medications.The main distinction is that generics are duplicates of synthetic pharmaceuticals, whereas biosimilars are based on drugs that contain biological organisms as active components.

The different routes of administration include the parenteral route, transdermal route, and others and are used in cancer, cardiovascular, central nervous systems, metabolic disorders, infection, hematological disorders, gastrointestinal disorders, dermatology, and respiratory disorders.

The increasing aging population is projected to surge the number of patients with chronic diseases contributing to the biosimilar therapeutic peptides’ market growth.Elderly people are more prone to various chronic diseases, 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 years is expected to reach 2 billion by the end of 2050.Moreover, according to the World Population Prospects, the number of people aged 80 years 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 cancer. The expected increase in the aging population suffering from various chronic conditions will drive the biosimilar market.

The long and costly drug approval process is expected to limit the growth of the biosimilar therapeutic peptides market over the upcoming years.The development, approval, and launch of new drugs is an expensive and prolonged procedure that includes expensive research stages.

A new drug has to go through four phases of clinical trials and screening by the regulatory body including Food and Drug Administration (FDA) (USA), the Medicines and Healthcare Products Regulatory Agency (MHRA) (UK), and the Medicines and Healthcare Products Regulatory Agency (MHRA) (India).For instance, in September 2020, according to an article shared by Proclinical, a UK-based recruitment agency in the life sciences sector, the average cost to create a new drug is close to $4 billion, however this cost might occasionally reach $10 billion.

No other sector invests more in R&D than the semiconductor industry. According to a recent research, R&D costs are predicted to climb by 3% annually and surpass $203 billion by 2024, therefore this trend is only projected to continue. Therefore, long and costly drug approval process is anticipated to hinder the growth of the biosimilar therapeutic peptides market

During the forecast period, the biosimilar therapeutic peptides market is expected to witness growth in research collaborations as well as research funding approvals.Key companies are focusing on collaborations with companies and organizations to enhance their research & developments, and expand their product portfolio, and 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 bicycle immune-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 researchresearch 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.

In September 2020, Ligand Pharmaceuticals Incorporated, a US-based biopharmaceutical company, acquired Pfenex Inc for an undisclosed amount.The acquisition would provide Ligand an access to the 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 countries covered in the biosimilar therapeutic peptides market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).

The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.

The biosimilar therapeutic peptides market research report is one of a series of new reports that provides biosimilar therapeutic peptides market statistics, including biosimilar therapeutic peptides industry global market size, regional shares, competitors with a biosimilar therapeutic peptides market share, detailed biosimilar therapeutic peptides market segments, market trends, and opportunities, and any further data you may need to thrive in the biosimilar therapeutic peptides industry. This biosimilar therapeutic peptides market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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