Biosimilar Therapeutic Peptides Market to Reach $2.25 Billion by 2025 at a Compound Annual Growth Rate (CAGR) of 27%

Strategic Insights -

The biosimilar therapeutic peptides market is witnessing significant growth due to the increasing demand for peptide-based drugs, which are used to treat a range of chronic diseases such as cancer, cardiovascular diseases, and respiratory conditions. The market is expected to reach $2.25 billion by 2025 at a CAGR of 27%, up from $0.87 billion in 2021.

Key Takeaways:

  • The global biosimilar therapeutic peptides market is expected to grow from $0.76 billion in 2020 to $0.87 billion in 2021 at a CAGR of 14.5%.
  • The market will be driven by the increasing aging population, which is expected to reach 2 billion by 2050, according to the World Health Organization (WHO).
  • Key companies in the market are focusing on collaborations with companies and organizations to enhance their research & development, expand their product portfolio, and geographical reach.
  • Biosimilar therapeutic peptides find their application in the treatment of cardiovascular diseases, metabolic diseases, respiratory conditions, cancer, and respiratory diseases.
  • The long and costly drug approval process is expected to limit the growth of the biosimilar therapeutic peptides market over the upcoming years, with a cost to develop new drugs estimated at $2.6 billion.
  • Key players in the market include Eli Lilly, Sanofi, Takeda Pharmaceuticals, Teva Pharmaceuticals, Pfizer Inc., Amgen Inc., AstraZeneca PLC, GlaxoSmithKline (GSK), Novartis AG, and Novo Nordisk A/S.

Statistics:

  • Global biosimilar therapeutic peptides market size: $0.76 billion (2020)
  • Global biosimilar therapeutic peptides market size (2021): $0.87 billion
  • CAGR forecast: 27%
  • Market size by 2025: $2.25 billion
  • World's population over the age of 60 years: expected to reach 2 billion by 2050 (according to WHO)
  • Cost to develop new drugs: estimated at $2.6 billion (according to Tufts Center for the Study of Drug Development)
  • Approval rate for drugs entering clinical trial: less than 12% (according to Tufts Center for the Study of Drug Development)

Sources:

  • "Biosimilar Therapeutic Peptides Global Market Report 2021: COVID-19 Growth and Change to 2030"
  • ResearchAndMarkets.com
  • World Health Organization (WHO)
  • Tufts Center for the Study of Drug Development
  • "Journal of Health Economics"
  • Various company reports and press releases