According to FutureWise analysis the market for peptide therapeutics in 2023 is US$ 44.79 billion, and is expected to reach US$ 74.24 billion by 2031 at a CAGR of 6.50%.
Peptides are one of the crucial therapeutic molecule classes developed by multiple biotech and pharma companies for attaining the discovery of targeted drugs for many ailments. As of now, there are over 790 peptide drugs under clinical tests and over 190 commercial peptide-based drugs are available in the market. Proteins and therapeutic peptides have proven to be primary drug candidates for over several decades. Many key players have specialised in manufacturing and developing products based on peptides from newer drug candidates to medical diagnostic devices. The soaring rise in the time span and cost of developing a traditional drug leading to the pharmaceutical companies and researchers in developing novel products that are cost-effective that are based on the strategy of synthetic peptides.
Peptides have low toxicity levels due to their lower instance interaction with other molecules and due to the easy metabolism into their amino acid component residues. Pharma companies are more inclined towards peptides as they are easy to manufacture. The rising needs of peptides owing to innovative development of drugs with the bioactive properties of peptides is one of the primary interests of pharma companies. Such factors are responsible for the proliferation of the market.