The global catalog peptides market attained a value of $238.4 million in 2018 and is predicted to progress at a CAGR of 5.8% between 2019 and 2024. Furthermore, based on the estimates of the market research firm, P&S Intelligence, the market is expected to reach a valuation of $332.1 million by 2024. The major factors driving the surge of the market are the soaring number of research and development (R&D) activities in several therapeutic applications, increasing incidence of chronic diseases, and surging investments in protein-based research.
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The increasing R&D activities for addressing the unmet medical requirements in the treatment procedures of various types of chronic diseases such as cancer, diabetes, respiratory ailments, and ischemic heart disorders is a key factor fuelling the advancement of the market. The governments, research institutes, and regulatory bodies in many countries are increasingly making huge investments in research activities in order to develop new and affordable drugs. For example, the National Institute of Health (NIH) in the U.S. makes investments worth $32.3 billion in medical research every year.
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Geographically, the catalog peptides market is predicted to register the highest growth in North America in the upcoming years. This is credited to the existence of well-established companies, rising incorporation of advanced and innovative peptide production techniques, and increasing investments being made in R&D activities in the North American countries. In North America, the market is predicted to demonstrate the highest expansion in the U.S. in future, due to the rising requirement of peptides-based therapeutic procedures for the treatment of chronic diseases all over the country.
This study covers
- Major factors driving the market and their impact during the short, medium, and long terms
- Market restraints and their impact during the short, medium, and long terms
- Recent trends and evolving opportunities for the market participants
- Historical and the present size of the market segments and understand their comparative future potential
- Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings
- Competitive scenario of various market segments across key countries in several regions for uncovering market opportunities for the stakeholders