Liquid Phase Peptide Synthesis Market Trends

The global liquid phase peptide synthesis market is estimated to grow with a moderate CAGR during the forecast period, i.e., 2022-2030. The extensive deployment of liquid phase peptide synthesis in large-scale industries owing to its capability of producing a large number of high-quality peptides, are expected to fuel the growth of this market. Liquid phase peptide synthesis was the first method to be used for the generation of peptides in-vitro and is still commonly utilized for large-scale peptide synthesis required in end-user industries. It helps in performing convergent peptide synthesis in which separate peptides are synthesized and then are attached together to create larger peptides, which is why it is abundantly used for large-scale production of peptides. The growth of the market can also be attributed to factors such as the increasing use of peptides in pharmaceutical drug development, and treatment of various lifestyle disorders, such as, diabetes and obesity. According to the data collected from International Diabetes Federation, it is estimated that around 463 million people globally had diabetes in 2019, and by 2045, the count is projected to reach 700 million. Peptides have diverse biological characteristics such as high biological activity, high specificity & ample chemical space, relative ease of synthesis, easy availability, and low toxicity, which are further estimated to boost the market growth.

According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.