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North America to be Largest Catalog Peptides Market till 2024
Every year, over 9.5 million people die of cancer each year, according to the World Health Organization (WHO). This is because either patients are diagnosed in later stages, or the drugs aren’t able to target tumors that well. A lot of cancers are formed due to the disruption in the pathways activated by peptides, which are essentially short chains of amino acids; a peptide of more than 50 amino acids is known as a protein. Since the establishment of the fact that protein pathway disruption is a potential cause of cancer, extensive research and development (R&D) has been put in to remedy this.
Thus, with the rising prevalence of cancer and fruitful R&D, the catalog peptides market is predicted to grow from $238.4 million in 2018 to $332.1 million by 2024, at a 5.8% CAGR during 2019–2024 (forecast period). The term catalog peptide refers to the artificially synthesized peptide drugs which are readily available with biotechnology and pharmaceutical companies, as opposed to those that are customized as per user preference and the specific application.
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There have been numerous R&D activities for understanding how several proteins are expressed, by utilizing cell- and protein-line engineering. If such activities yield the desired results, the discovery and development of more-effective drugs might become easier. Similarly, recombinant proteins are also a highly researched-upon area, because of the well-established importance of the recombinant deoxyribonucleic acid (DNA) technology in the production of medicines. This technology can yield the desired amount of pure recombinant proteins, which makes is ideal for cost-effective and quick mass production of drugs.
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For this purpose and many others, the U.S. National Institutes of Health (NIH) offers research grants to the medical and pharmaceutical sector, worth $32.3 billion each year. Some of the prominent R&D programs funded by the NIH are the Protein Capture Reagents Program and Protein Structure Initiative (PSI). In the same vein, Novo Nordisk Foundation provided the University of Copenhagen with $104.4 million (DKK 700 million) in August 2018, to carry out potentially ground-breaking studies at the Novo Nordisk Foundation Center for Basic Metabolic Research.
Presently, North America makes the largest contribution to the catalog peptides market, owing to the presence of a number of biopharmaceutical companies, increasing R&D investments for widening the application area of such products, and adoption of improved technologies for manufacturing. Within the region, the U.S. consumes such drugs in higher amounts, owing to its increasing incidence of chronic diseases, especially cancer. Moreover, numerous drugs are receiving approvals from the Food and Drug Administration, which is leading to their rising availability for the treatment of various diseases.
Hence, with the rising R&D activities and prevalence of cancer, the demand for catalog peptides will also grow.
