Biosimilar Therapeutic Peptides Global Market Report 2024

The biosimilar therapeutic peptides market size has grown exponentially in recent years. It will grow from $2.06 billion in 2023 to $2.68 billion in 2024 at a compound annual growth rate (CAGR) of 30.3%. The growth observed during the historic period can be attributed to factors such as the increasing demand for cost-effective therapeutics, regulatory support and frameworks, patent expirations of biologic drugs, a rise in the incidence of chronic diseases, and established manufacturing processes.

The biosimilar therapeutic peptides market size is expected to see rapid growth in the next few years. It will grow to $4.87 billion in 2028 at a compound annual growth rate (CAGR) of 16.1%. The anticipated growth in the forecast period can be attributed to factors such as expanding therapeutic applications, the global aging population, market competitiveness, strategic collaborations and partnerships, and the preference of patients for non-invasive therapies. Major trends expected in the forecast period encompass advancements in biotechnology, a growing demand for biologics, technological innovations in manufacturing, a focus on cost-efficiency and improved access to healthcare, as well as general technological advancements.

The projected increase in the aging population is expected to drive the growth of the biosimilar therapeutic peptides market as the elderly are more susceptible to various chronic diseases. The global rise in chronic conditions among older individuals is set to continue, with the World Health Organization estimating that the population over 60 will reach 2 billion by 2050. Additionally, the number of people aged 80 and above is anticipated to surge from 143 million in 2019 to 426 million in 2050, as per World Population Prospects. Biosimilar therapeutic peptides, utilized in treating various chronic diseases and cancers, are poised to experience increased demand due to the growing aging population facing such health conditions.

The prevalence of chronic diseases is another factor expected to fuel the biosimilar therapeutic peptide market. Chronic diseases, necessitating ongoing management and treatment, are on the rise globally, creating a demand for cost-effective treatments. Biosimilar therapeutic peptides present an affordable option, enhancing patient access and contributing to the sustainability of healthcare systems. Regulatory support and clinical evidence further bolster market growth. Projections by the National Center for Biotechnology Information suggest a significant increase, reaching 142.66 million individuals aged 50 and older with at least one chronic illness by 2050, up from 71.522 million in 2020. Consequently, the prevalence of chronic diseases is a key driver for the biosimilar therapeutic peptides market.

However, the prolonged and costly drug approval process is expected to hinder the growth of the biosimilar therapeutic peptide market in the coming years. The extensive stages of research, development, and regulatory scrutiny involved in drug approval contribute to high costs and lengthy timelines. Clinical trials and regulatory assessments by bodies such as the FDA (USA), MHRA (UK), and others necessitate significant resources. Estimates from the Congressional Budget Office indicate average R&D costs ranging from less than $1 billion to over $2 billion per new drug. The lengthy and costly drug approval process is anticipated to pose a challenge for the biosimilar therapeutic peptide industry.

Major companies in the biosimilar therapeutic peptide market are actively developing research platforms to optimize peptide synthesis, improve production efficiency, and ensure consistent quality throughout the drug discovery to commercialization process. Fujitsu Limited launched the Biodrug Design Accelerator platform in May 2023, aiming to expedite peptide drug discovery research and enhance efficiency in the design, make, test, analyze (DMTA) cycles. The platform supports scientists in pharmaceutical companies, facilitating accelerated and informed design of peptide drug candidates.

Major players in the biosimilar therapeutic peptide market are making substantial investments in developing biosimilar facilities to enhance production efficiency and ensure consistent quality throughout the entire process, from discovery to commercialization. An example of such strategic investment is seen in Sandoz Group AG, a Switzerland-based manufacturer of generic pharmaceuticals and biosimilars. By the year 2026, Sandoz plans to invest approximately $90 million in its facility located in Ljubljana, Slovenia. This investment aims to establish a dedicated Sandoz Biopharma Development Center, emphasizing the company's commitment to supporting the future growth of its biosimilar pipeline. Additionally, there are reports indicating the company's intentions to expand biosimilar development capabilities at its Holzkirchteen site in Germany, with a notable €25 million investment. This move is designed to consolidate Sandoz's advanced facilities and analytical expertise into one location.

In November 2022, Pfizer Inc., a prominent biopharmaceutical company based in the United States, made an announcement regarding the acquisition of Biohaven Pharmaceutical Holding Company Ltd. The financial details of the acquisition were undisclosed. Through this strategic move, Pfizer gains access to a portfolio featuring promising calcitonin gene-related peptide (CGRP) receptor antagonists, such as rimegepant and zavegepant. Additionally, Pfizer acquires a portfolio of pre-clinical CGRP assets from Biohaven Pharmaceutical Holding Company Ltd., a pharmaceutical company based in the U.S. known for offering late-stage product candidates targeting neurological illnesses. This acquisition further strengthens Pfizer's position in the biosimilar therapeutic peptide market.

Major companies operating in the biosimilar therapeutic peptides market report are Pfizer Inc., F. Hoffmann-La Roche Ltd., Merck & Co. Inc., Novartis AG, Sanofi SA, AstraZeneca PLC, GlaxoSmithKline PLC, Takeda Pharmaceuticals Co. Ltd., Eli Lilly and Company, Amgen Inc., Novo Nordisk A/S, BioXpress Therapeutics SA, Apotex Inc., Teva Pharmaceuticals Industries Ltd., Sandoz International GmbH, Lonza Inc., Stada Arzneimittel AG, Ipsen S.A, Biocon Biopharmaceuticals Pvt. Ltd., Dr. Reddy's Laboratories Ltd., Alvogen Pharma US Inc., Corden Pharma GmbH, Bachem Holding AG, PolyPeptide Laboratories Ltd., PeptiDream Inc., Coherus BioSciences Inc., Celltrion Inc., Hyperion Therapeutics Inc., BioPartners Inc., Samsung Bioepis Co. Ltd. North America was the largest region in the biosimilar therapeutics market in 2023. Middle East is expected to be the fastest growing region in the biosimilar therapeutic peptides market report during the forecast period. The regions covered in the biosimilar therapeutic peptides market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The primary types of biosimilar therapeutic peptides are innovative and generic. It's common for biosimilar medications to be confused with generic drugs, as both are presented as cost-effective alternatives to high-priced name-brand medications. However, a key distinction lies in the fact that generics replicate synthetic pharmaceuticals, while biosimilars are derived from drugs containing biological organisms as active components. These therapeutic peptides are administered through different routes, including the parenteral route, transdermal route, and others, and are employed in the treatment of cancer, cardiovascular disorders, central nervous system conditions, metabolic disorders, infections, hematological disorders, gastrointestinal disorders, dermatological issues, and respiratory disorders.

The biosimilar therapeutic peptides market research report is one of a series of new reports that provides biosimilar therapeutic peptides market statistics, including global market size, regional shares, competitors with a biosimilar therapeutic peptides market share, detailed biosimilar therapeutic peptides market segments, market trends, and opportunities, and any further data you may need to thrive in the biosimilar therapeutic peptides industry. This biosimilar therapeutic peptide market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The countries covered in the biosimilar therapeutic peptides market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The biosimilar therapeutic peptides market consists of sales of pegfilgrastim, bevacizumab, and adalimumab. Values in this market are "factory gate values," that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.