(IT-NEWSWIRE.COM, May 13, 2022 ) Expected Revenue Growth:
The global peptide synthesis market is projected to USD 730 million by 2026 from USD 515 million in 2021, at a CAGR of 7.2% between 2021 and 2026.
Major Growth Boosting Factors:
Growth in this market is driven by the increasing use of peptides in pharmaceutical drugs, increase in research activities and availability of funding for R&D, and the development of advanced automated peptide synthesizers. Increasing R&D activities indicate the gradual development of a robust research base globally. However, the lack of a unified set of regulations for therapeutic peptides and the high cost of instruments are expected to restrain the growth of this market during the forecast period.
The reagents segment accounted for the largest share of the product & service segment in the peptide synthesis market in 2020.
Based on product & service, the peptide synthesis market is segmented into reagents, equipment, and services. In 2020, the reagents segment accounted for the largest share of 50.8% of the peptide synthesis market. The large share of this segment can be attributed to the growing applications of peptides in therapeutics, drug design, and gene synthesis; frequent purchase of reagents in comparison to equipment; rising number of ongoing research projects involving peptide synthesis; and the availability of various peptide synthesis reagents in the market.
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The Solid Phase peptide synthesis segment accounted for the largest share of the technology segment in the peptide synthesis market in 2020.
Based on technology, the peptide synthesis market is segmented into solid-phase peptide synthesis, solution-phase peptide synthesis, and hybrid & recombinant technology. The solid-phase peptide synthesis segment accounted for the largest share of 62.0% of the peptide synthesis market in 2020. Solid-phase peptide synthesis is associated with several advantages, such as ease of operation, easy purification, short production cycles, high-level automation, and synthesis capabilities of long peptides in small quantities of amino acids. These advantages support the growth of the solid-phase peptide synthesis segment.
The Asia Pacific region is the fastest-growing region of the peptide synthesis market in 2020.
Based on the region, the peptide synthesis market is segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The Asia Pacific is expected to register the highest CAGR in the peptide synthesis market during the forecast period. Growing R&D funding, increasing investments by pharmaceutical and biotechnology companies, and rising R&D activities in the region are expected to drive market growth.
Key players in the peptide synthesis market include Thermo Fisher Scientific (US), Merck KGaA (Germany), Kaneka Corporation (Japan), GenScript Biotech Corporation (China), and Bachem Holding AG (Switzerland).
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Mr. Aashish Mehra