The increasing understanding of the molecular basis of cancer and the development of targeted therapies is a key driver boosting the market growth
Rockville, Nov. 06, 2023 (GLOBE NEWSWIRE) — As per Fact.MR, a provider of market research and competitive intelligence, the global Peptide-based cancer therapeutics market is forecasted to reach US $21.4 Bn by the end of 2033 while rising at a CAGR of 7.8%.
Peptide-based cancer therapeutics are specialized drugs designed to target and treat cancer cells with precision. They use short chains of amino acids, called peptides, to zero in on specific proteins or receptors that are found on the surface of cancer cells. This focused approach means they cause fewer side effects on healthy cells compared to traditional treatments like chemotherapy. Additionally, these therapies can be customized for individual patients based on their unique cancer characteristics, potentially increasing their effectiveness.
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The growth of the Peptide-based Cancer Therapeutics Market is primarily driven by advances in molecular understanding of cancer, enabling the development of highly targeted and personalized treatments. This precision medicine approach reduces collateral damage to healthy cells, leading to fewer side effects for patients.
Developing and manufacturing peptide-based cancer therapies is a costly endeavor. It involves extensive research, specialized equipment, and compliance with strict regulatory standards. Peptides, while promising in cancer therapy, present a unique challenge due to their inherent instability compared to small molecules or biologics.
| Report Attribute | Details |
| Value Projection (2033) | US$ 21.4 Billion |
| Growth Rate (2023-2033) | 7.8% CAGR |
| No. of pages | 170 Pages |
| No. of Tables | 150 Tables |
| No. of Figures | 48 Figures |
Key Takeaways:
- North America accounts for 50% of the global share of the peptide-based cancer therapeutics market due to well-established biotech and pharmaceuticals in North America. Moreover, the US market is expanding due to enhanced healthcare infrastructure and reimbursement regulations.
- Based on the drug market, the Bortezomib Drugs account for around 40% of the revenue share of the global market.
- As per the distribution channel, Hospital pharmacies are expected to gain traction due to easy access to patient information and medical history.
Increasing understanding of molecular targets in cancer, advancements in peptide engineering and formulation, and a growing demand for personalized and targeted cancer treatments are the key factors boosting the market growth – Says FACTMR Expert
Key Companies Profiled in This Report
- AstraZeneca
- Allergan plc
- Pfizer Inc.
- Abbott Laboratories
- AbbVie Inc.
- Johnson & Johnson
- Valeant Pharmaceuticals International Inc.
- Takeda Pharmaceutical Company Limited
Market Competition
In this highly competitive landscape, key industry players are prioritizing strategies such as product introductions, rigorous quality assurance, mergers and acquisitions, pricing strategies, and collaborative efforts to expand their market presence.
- In 2019, the Swiss pharmaceutical powerhouse Novartis and the Japanese biotechnology firm PeptiDream unveiled a collaborative effort focused on developing a novel class of drugs known as peptide drug conjugates (PDCs).
Winning strategies
- Key players in the market should invest in developing specialized techniques for accurate sequencing and modifying peptides. This is crucial for creating effective cancer treatments. Mastering these techniques gives them an advantage in producing innovative therapies and maintaining a strong market position. This
- Focusing on particular types of cancer or specific molecular targets is a strategic approach that can help companies establish a good market share and solidify their leadership positions. Becoming specialists in specific areas grants companies a unique expertise and competitive advantage.
- In order to excel in the market, industry leaders should allocate resources towards adopting advanced peptide synthesis platforms and techniques. This strategic investment can result in streamlined and cost-effective production processes
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Category-wise Insights:
Which Class of Drug is Most Likely to Have a Large Market Share?
“Increasing Multiple Myeloma Prevalence Fuels Bortezomib Drug Demand”
The market is segmented into goserelin, bortezomib, leuprorelin, and other drug types based on the kind of drug. About 40% of the global market’s income is derived from the use of boratezamib.
Multiple myeloma is treated with a medication known as bortezomib. Patients can also be treated with bortezomib for mantle cell lymphoma. Bortezomib belongs to the class of medications known as antineoplastic agents. It functions by eliminating cancer cells.
The incidence of multiple myeloma, mantle cell lymphoma, and lymphomas is increasing, and rising healthcare costs are the key factors influencing the market growth rate. Growing consumer awareness and improvements in medical technology are anticipated to drive up demand for bortezomib.
Explore More Related Studies Published by Fact.MR Research:
Cancer Biomarkers Market: The market for cancer biomarkers is likely to be valued at US$ 34 Billion By 2032.
Cancer Immunotherapy Market: The cancer immunotherapy market is expected to reach nearly US$ 310 Bn by 2031
Cancer Profiling Market: The global market is expected to witness credible gains through 2031, primarily driven by burgeoning research in advancing precision-based treatment and incorporation of technological advancements.
About Fact.MR:
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.
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