Peptide Synthesis Market worth $859 million by 2028

Posted January 12, 2024 by mmvaidya01

The global peptide synthesis market in terms of revenue was estimated to be worth $601 million in 2023 and is poised to reach $859 million by 2028, growing at a CAGR of 7.4% from 2023 to 2028.

Global Growth Driving Factors:

Over the course of the forecast period, the global market for peptide synthesis is anticipated to expand at a CAGR of 7.4%. The expanding therapeutic applications, technological advancements in peptide synthesis, and rising peptide demand are driving growth in this market.

In addition, increased spending on R&D, a thriving industry, and the use of peptides in pharmaceutical products are some of the key factors expected to propel market expansion. Nonetheless, over the course of the forecast period, the absence of a single set of regulations pertaining to therapeutic peptides and the high cost of instruments are anticipated to impede the market's growth.

Projected Surge in Revenue Generation:

Revenue-wise, the global peptide synthesis market was projected to be worth $601 million in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 7.4% from 2023 to 2028, when it is expected to reach $859 million.

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Industry Segmentation:

In the peptide synthesis market, the reagents segment held the biggest share of the product and service segment in 2022.

The peptide synthesis market is divided into three segments: reagents, equipment, and services, based on product and service. The market for peptide synthesis was dominated by the reagents segment in 2022. This segment's significant market share is driven by the growing need for peptide-based medicines, improvements in synthesis technologies, an increase in research and development endeavors, the emergence of manufacturing and contract research companies, and the accessibility of a range of peptide synthesis reagents.

In the peptide synthesis market in 2022, the Solid Phase peptide synthesis segment held the highest percentage of the technology segment.

Based on technology, the peptide synthesis market is segmented into solid-phase peptide synthesis, solution-phase peptide synthesis, and hybrid & recombinant technology. In 2022, the peptide synthesis market was dominated by the solid-phase peptide synthesis segment. Many benefits are associated with solid-phase peptide synthesis, including short production cycles, simple purification, high automation, and the ability to synthesize long peptides from small amounts of amino acids. These benefits contribute to the solid-phase peptide synthesis market's expansion.

Geographical Growth Scenario:

Over the course of the projection period, Asia Pacific is anticipated to grow at the fastest rate.

The peptide synthesis market is divided into five regions: Latin America, North America, Europe, Asia Pacific, and the Middle East and Africa. The largest regional segment is North America. Over the course of the forecast period, the peptide synthesis market is anticipated to grow at the highest CAGR in the Asia Pacific region. The region's market for pharmaceuticals and life sciences is expanding due to several factors, including the rising cost of R&D, particularly in the field of drug discovery and development, the rising incidence of chronic illness conditions, and large investments being made in the development of therapeutic mAbs.

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Key Players:

The prominent players operating in the peptide synthesis market are Thermo Fisher Scientific, Inc. (US), Merck KGaA (Germany), Kaneka Corporation (Japan), GenScript Biotech Corporation (China), and Bachem Holding AG (Switzerland).

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Issued By Makarand Vaidya
Country United States
Categories Industry , Medical , News
Tags peptide synthesis market , peptide synthesis
Last Updated January 12, 2024