Peptide Synthesis Market worth 9 million by 2028
Posted by MV Mukund on June 4th, 2024
Major Revenue Growth Dynamics:
Growth in this market is driven by the increasing demand for peptide, technological advancements in peptide synthesis and expanding therapeutic applications. Furthermore, rising investment in research and development, and a supportive market ecosystem, use of peptides in pharmaceutical drugs are some of major elements anticipated spur the market growth. However, the lack of a unified set of regulations for therapeutic peptides and the high cost of instruments are expected to restrain the growth of this market during the forecast period.
Projected Surge in Global Revenue:
The global peptide synthesis market in terms of revenue was estimated to be worth 1 million in 2023 and is poised to reach 9 million by 2028, growing at a CAGR of 7.4% from 2023 to 2028.
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The reagents segment accounted for the largest share of the product & service segment in the peptide synthesis market in 2022.
Based on product & service, the peptide synthesis market is segmented into reagents, equipment, and services. In 2022, the reagents segment accounted for the largest share of the peptide synthesis market. The large share of this segment is fueled by the increasing demand for peptide-based therapeutics, advancements in synthesis technologies, expanding research and development activities, the rise of contract research and manufacturing organizations, and the availability of various peptide synthesis reagents in the market.
The Solid Phase peptide synthesis segment accounted for the largest share of the technology segment in the peptide synthesis market in 2022.
Based on technology, the peptide synthesis market is segmented into solid-phase peptide synthesis, solution-phase peptide synthesis, and hybrid & recombinant technology. The solid-phase peptide synthesis segment accounted for the largest share in the peptide synthesis market in 2022. Solid-phase peptide synthesis is associated offers various 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. These advantages support the growth of the solid-phase peptide synthesis segment.
Geographical Growth Dynamics:
Asia Pacific is likely to grow at the highest growth rate during the forecast period.
Based on the region, peptide synthesis market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. North America is the largest regional segment. The Asia Pacific region is estimated to grow at the highest CAGR in the peptide synthesis market during the forecast period. The growth of the pharmaceuticals and life sciences market in the region is primarily driven by the rising R&D expenditure, especially in the area of drug discovery & development, the rising prevalence of chronic disease conditions, and significant investments in the development of therapeutics mAbs.
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