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(Health-NewsWire.Net, October 29, 2020 ) The Peptide Synthesis Technique Market is projected to reach USD 426.4 million by 2023 from USD 310.5 million in 2018, at a CAGR of 6.5% during the forecast period. Growth in this market is driven by the increasing use of peptides in pharmaceutical drugs, rise in research activities and availability of funding for R&D, and the development of advanced technological peptide synthesizers.
Increasing use of peptides in pharmaceutical drugs drives the global peptide synthesis market
Peptides are highly active and highly specific drug substances. Due to the diversity of their biological functions, they are used in an extensive range of therapeutic areas. Also, they are increasingly entering drug development pathways as potential active pharmaceutical ingredients due to their large chemical space, high biological activity, high specificity, relative ease of synthesis, ready availability, and low toxicity.
Oncology, diabetes, and obesity are three prominent therapeutic areas in which peptides generate billions of dollars in revenues. As a drug modality, peptides and peptidomimetics occupy the interface between small molecules and larger biological drugs with the potential to have the specificity of antibodies and the bioavailability of small molecules.
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Moreover, peptides provide researchers with viable options for discovery, optimization, and manufacture, as they can be synthesized chemically or expressed by recombinant systems. As a result of these advantages, pharmaceutical companies are increasingly focusing on the development of peptide-based drugs.
Pharmaceutical & biotechnological companies are expected to dominate the peptide synthesis market in 2017
Based on end users, the peptide synthesis market is segmented into pharmaceutical & biotechnological companies, contract development and manufacturing organizations, and academic and research institutes. In 2017, pharmaceutical & biotechnological companies accounted for the largest market share due to increasing number of research projects in genomics, molecular biology, and related areas; growing application areas of peptides in drug discovery, therapeutics, and research; and substantial R&D investments.
Reagents accounted for the largest share of the peptide synthesis market in 2017
By product, the Peptide Synthesis Technique Market is segmented into reagents & equipment. In 2017, reagents segment accounted for the largest share of the peptide synthesis market. The large share of this segment can be attributed to factors such as the growing applications of peptides in therapeutics, drug design, and gene synthesis; rising number of ongoing research projects involving peptide synthesis; and the availability of various peptide synthesis reagents in the market.
By technology, solid-phase synthesis is expected to grow at the highest CAGR during 2018-2023
Based on technology, the peptide synthesis market has been segmented into solid-phase synthesis, liquid-phase synthesis and recombinant technology. In 2017, solid-phase synthesis is expected to grow at the highest CAGR during 2018-2023. Solid-phase synthesis is associated with a number of advantages, such as ease of operation, easy purification, short production cycles, high-level automation, and synthesis capabilities of long peptides in small quantities of amino acids. Such advantages are driving the growth of the solid-phase synthesis segment.
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The prominent players in the Peptide Synthesis Technique Market are GenScript Biotech Corporation (China), AAPPTec (US), Bachem (Switzerland), AnaSpec (US), Biotage (Sweden), CEM Corporation (US), Gyros Protein Technologies (Sweden), Advanced ChemTech (US), Merck KGaA (Germany) and New England Peptide, Inc (US). Product launches and agreements, partnerships and collaborations were the major strategies adopted by these payers to maintain their positions in the peptide synthesis market.
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