Peptide Synthesis Market worth 426.4 million USD by 2023

PUNE, India, 2021-Aug-24 — /EPR Network/ —

The base year considered for the study is 2017, and the forecast has been provided for the period between 2018 and 2023.

The overall peptide synthesis market was valued at USD 292.4 million in 2017 and is projected to reach USD 426.4 million by 2023, at a CAGR of 6.5% during the forecast period. Market growth can be attributed to increasing use of peptides in pharmaceutical drugs, increase in research activities and availability of funding for R&D, and the development of advanced peptide synthesizers.

Peptides are organic molecules consisting of amino acids linked by a peptide (amide) bond. Peptide synthesis is the process of making short sequences of peptides by the condensation reaction of the carboxyl group of one amino acid to the amino group of another.

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The peptide synthesis market has been segmented, on the bassis of product, into reagents and equipment. The market for equipment segment is expected to grow at the highest CAGR between 2018 and 2023. On the other hand, among all the equipment, peptide synthesizers are most widely used for peptide synthesis process. The high adoption of these instruments is contributing to the rapid growth of the market.

The peptide synthesis market in APAC is expected to grow at the highest CAGR during the forecast period. With significant growth in the research industry in the past few years, China and India have emerged as high-growth markets peptide synthesis. The research industry in this region has grown significantly over the years; manufacturers are now focusing on providing well-established technologies to ensure sustainable and strong revenue growth from this region.

Biotechnology-based drugs are anticipated to be one of the key drivers for the research industry, as reflected in the increase in research being undertaken and government funds provided for these drugs. Thus, the increasing demand for novel antibody and protein-based drugs along with growing investments by the public and private sectors in life science research are expected to drive the APAC market in the coming years.

Lack of unified set of regulations for therapeutic peptides is a major factor restraining the growth of the market. The development of a unified set of regulatory guidelines that can effectively address the safety and quality requirements for a diverse group of molecular entities with various unique mechanisms of action is a challenging task. There are no formal guidelines from any regulatory agency for the development of this class of therapeutics. This lack of a unified set of regulations has made it difficult to secure approvals for therapeutic peptides, which in turn is limiting their application areas. This is considered as a major factor restraining the growth of the global peptide synthesis market.

The prominent players in the peptide synthesis 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 (US). Product launches and agreements, partnerships and collaborations were the major strategies adopted by these payers to maintain their positions in the market.

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