The Business Research Company’s Biosimilar Therapeutic Peptides Global Market Report 2021: COVID-19 Growth And Change To 2030
LONDON, GREATER LONDON, UK, June 11, 2021 /EINPresswire.com/ — The increasing aging population is projected to surge the patients with chronic diseases contributing to the biosimilar therapeutic peptides’ market growth. Elderly people are more prone to various chronic diseases, surging the old age population rapidly across the world and is predicted to continue over the forecast period. According to the World Health Organization (WHO), the world’s population over the age of 60 years is expected to reach 2 billion by the end of 2050, up from 900 million in 2015. In 2018, approximately 125 million people were aged over 80 years or older. Moreover, according to the World Population Prospects: the 2019 Revision, the number of people aged 80 years and above is likely to increase from 143 million in 2019 to 426 million in 2050. Biosimilar therapeutic peptides are used for the treatment of various chronic diseases and cancer. The expected increase in the aging population suffering from various chronic conditions will drive the biosimilar market.
The global biosimilar therapeutic peptides market is expected to grow from $0.76 billion in 2020 to $0.87 billion in 2021 at a compound annual growth rate (CAGR) of 14.5%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The biosimilar therapeutic peptides market is expected to reach $2.25 billion in 2025 at a CAGR of 27%.
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The biosimilar therapeutic peptides market consists of sales of biosimilar therapeutic peptides by the companies that are engaged in developing and commercialization of biosimilar peptides drugs for therapeutic applications. Peptide drugs are used as replacement therapies which supplements peptide hormones when the endogenous levels tend to decrease. Biosimilar therapeutic peptides find its application in the treatment of cardiovascular diseases, metabolic diseases, respiratory conditions, cancer, and respiratory diseases.
TBRC’s biosimilar therapeutic peptides industry report is segmented by route of administration into parenteral route, transdermal route, others, by application into cancer, cardiovascular, central nervous systems, metabolic disorders, infection, hematological disorders, gastrointestinal disorders, dermatology, respiratory disorders, and by type into innovative, generic.
Major players in the biosimilar therapeutic peptides market are Eli Lilly, Sanofi, Takeda Pharmaceuticals, Teva Pharmaceuticals, Pfizer Inc., Amgen Inc., AstraZeneca PLC, GlaxoSmithKline (GSK), Novartis AG, and Novo Nordisk A/S.
Biosimilar Therapeutic Peptides Global Market Report 2021: COVID-19 Growth And Change To 2030 is one of a series of new reports from The Business Research Company that provides biosimilar therapeutic peptides market overview, forecast biosimilar therapeutic peptides market size and growth for the whole market, biosimilar therapeutic peptides market segments, and geographies, biosimilar therapeutic peptides market trends, biosimilar therapeutic peptides market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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