PORTLAND, Oregon and PUNE, India, March 19, 2018 /PRNewswire/ --
According to a new report published by Allied Market Research, titled, "Oral Proteins and Peptides Market by Drug Type and Application: Global Opportunity Analysis and Industry Forecast, 2022-2028," the global oral proteins and peptides market was valued at $643 million in 2016, and is projected to reach $8,233 million by 2023, growing at a CAGR of 11.7% from 2022 to 2028. The linaclotide drug type segment occupied the highest market share of the market in 2016.
Therapeutic proteins and peptides are an important class of drugs, which serve patients in need of novel therapies. Approved oral proteins and peptides drugs are indicated to treat a wide array of clinical indications, including diabetes, gastric & metabolic disorders, and hormonal disorders.
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The major factors that drive the growth of the global oral proteins and peptides market include increase in collaborative efforts between pharmaceutical companies, surge in prevalence of chronic conditions, increase in elderly population, and rise in awareness & preference among populace for oral proteins and peptide-based drugs.
However, high cost associated with drug development and low bioavailability of these drugs impede the market growth. Conversely, increase in novel indications for known oral protein therapeutics, high R&D investment by pharmaceutical companies in oral proteins & peptides drugs, and rise in purchasing power in the emerging markets are anticipated to provide lucrative opportunities for the manufacturers in this industry.
The gastric & digestive disorders application generated the highest revenue in 2016, and is anticipated to continue this trend in the future. This is attributed to the approval and high adoption of oral proteins and peptide drugsLINZESS (Allergan, Inc.) and TRULANCE (Synergy Pharmaceuticals, Inc.). The diabetes application is anticipated to grow at the highest CAGR of 13.4% from 2022 to 2028.
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The U.S. held the highest market share in 2016, owing to high prevalence rate of chronic diseases, rise in adoption of these drugs, and increase in awareness about oral protein and peptide therapeutics. The rest of the world is expected to grow owing to rapid industrialization, increase in disposable income, and upsurge in government initiatives to modernize healthcare infrastructure.
Key Findings of the Oral Proteins and Peptides Market:
- The insulin drug type segment is anticipated to grow at the highest CAGR from 2022 to 2028
- The gastric & digestive disorder application segment is anticipated to occupy the largest share in the oral proteins and peptides market
- The diabetes segment is expected to witness the highest growth rate during the forecast period
- The U.S. dominated the oral proteins and peptides market, and is projected to grow at a CAGR of 11.7%
The report provides extensive competitive analysis and profiles of key market players, such as Allergan plc, AstraZeneca plc, Biocon Limited, Chiasma, Inc., Proxima Concepts Limited (Diabetology Ltd.), Generex Biotechnology Corp., Novo Nordisk A/S, Synergy Pharmaceuticals Inc., and Tarsa Therapeutics Inc. Other players (profiles not included in the report) in the value chain analysis include Sanofi S.A., F. Hoffmann-La Roche AG, Synthetic Biologics, Inc., Hovione Limited, and Novartis International AG.
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SOURCE Allied Market Research