August 14, 2023 05:43 ET | Source: Research and Markets Research and Markets
Dublin, Aug. 14, 2023 (GLOBE NEWSWIRE) -- The "Global Peptide Synthesis Market by Reagents (Resins, Amino Acid, Dyes), Equipment (Peptide Synthesizer, Chromatography, Lyophilizer), Technology (Solid-phase, Solution-phase, Hybrid), Services, End User (Pharma, Biotech, CRO), Region - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering. Peptide Antigen
The peptide synthesis market is witnessing a significant surge, with a projected value of USD 859.9 million by 2028, soaring from USD 601.9 million in 2023, at an impressive CAGR of 7.4%
This remarkable growth is primarily fueled by the escalating use of peptides in pharmaceutical drugs, a rise in research activities accompanied by increased funding for R&D, and the advent of advanced automated peptide synthesizers.
However, challenges such as the absence of unified regulations for therapeutic peptides and the high cost of instruments may restrain the market's expansion in the coming years.
The report offers invaluable insights to market leaders and new entrants alike, providing accurate revenue approximations for the overall peptide synthesis market and its subsegments. Stakeholders can leverage this information to understand the competitive landscape, strategically position their businesses, and formulate effective go-to-market strategies.
The report also delves into the market's pulse, highlighting key drivers, restraints, opportunities, and challenges to aid stakeholders in making informed decisions.
Furthermore, it offers an in-depth assessment of leading players' market shares, growth strategies, and product and service offerings, including companies like GenScript Biotech Corporation (China), Thermo Fisher Scientific, Inc. (US), Bachem Holding AG (Switzerland), Kaneka Corporation (US), Inc., and Merck KGaA (Germany), among others, driving the peptide synthesis market forward.
The reagents segment accounted for the highest growth rate in the peptide synthesis market, by product & service, during the forecast period
In 2022, the reagents segment accounted for the highest growth rate. The peptide synthesis reagents market is further segmented into resins, amino acids, coupling reagents, dyes and fluorescent labeling reagents, and other reagents (such as protecting reagents, linkers, buffers, solvents, and solutions).
The requirement of reagents in bulk quantities, expanding applications of peptides in therapeutics, drug design, and gene synthesis are some of the factors anticipated to project the growth of the segment.
Asia Pacific region is likely to grow at a faster pace
North America accounted for the dominant share of the peptide synthesis market. The dominance of the region is attributable to various factors such as the presence of leading players in the region coupled with the ongoing research activities of developing new targeted therapies.
Asia Pacific region is likely to grow at a faster pace owing to various factors such as the growing awareness of personalized therapeutics, rising government initiatives for generic medicines in the region, and the emergence of new market players in the peptide synthesis market.
For more information about this report visit https://www.researchandmarkets.com/r/fx6srn
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