In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
September 2020: CSBio announced the release of CSBIO 2 Peptide Synthesizer. This release makes the peptides more accessible and helps enable drug discovery and commercialization of peptide therapeutics.
May 2020: Thermo Fisher Scientific announced a collaboration with MSAID GmbH to provide access to deep learning tools for discovery and targeted proteomics. This agreement helps in the development and commercialization of tools to open new insights in proteomic research.
October 2019: CEM Corporation announced that it had entered into an agreement to purchase the instrumentation lines of Intavis Bioanalytical Instruments AG. This acquisition allows CEM Corporation to strengthen its product offering in the Life Sciences for proteomics, in-situ hybridization, and peptide synthesis.
The global solid phase peptide synthesis market is estimated to grow with a moderate CAGR during the forecast period, i.e., 2022-2030. The extensive research and development associated with solid phase peptide synthesis, along with the increasing technological advancements in the development of solid phase peptide synthesizers, are expected to fuel the growth of this market. Peptides have an important role in signalling molecules in the regulation of human metabolism. With the advancement in technology, researchers realized the potential role of peptides as therapeutic agents, and consequently, research on the chemical synthesis of peptides advanced further, which led to the development of peptides using the solid phase peptide synthesis method. Peptides have diverse biological characteristics such as high biological activity, high specificity & ample chemical space, relative ease of synthesis, ready availability, and low toxicity. Therefore, they are used in numerous areas such as immunogens to produce selective peptide antibodies, binders to test the affinity of antibodies to antigens, medical imaging, and radionuclide therapy. 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. The growth of the market can also be attributed to factors such as the increasing use of peptides in pharmaceutical drug development and in the treatment of various lifestyle disorders such as diabetes and obesity. Furthermore, due to the rapid and high-purity synthesis of peptides through solid phase peptide synthesis, the peptides can also be used in vaccine systems. The vaccines developed using peptides are highly stable and generally water-soluble. This factor is estimated to significantly boost the market growth.
The market is segmented on the basis of product into reagents, equipment, and others, out of which, the equipment segment is anticipated to grab the largest share by the end of 2022, on account of higher adoption rates of these instruments for the solid phase peptide synthesis. Moreover, the use of these instruments also leads to ease of operation, which is also projected to contribute to the growth of the segment during the forecast period. CLICK TO DOWNLOAD SAMPLE REPORT
On the basis of end-user, the pharmaceutical & biotechnology industry segment in the global solid phase peptide synthesis market is projected to grow with a significant CAGR over the forecast period. The growth of the segment can be attributed to the growth in use of peptides for therapeutic development and increased research & development activities in this segment relating to genomics, molecular biology, and associated fields.
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.
Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific and the Middle East & Africa region. The market in the Asia Pacific is predicted to grow at the highest CAGR over the forecast period owing to the rising demand for novel antibody and protein-based drugs and the increasing expenditure on research activities in the region. Furthermore, in 2022, the market in North America is evaluated to occupy the largest share in terms of revenue, owing to the favourable regulatory environment for early approval of peptide drugs, accompanied by the presence of advanced healthcare infrastructure in the region. Along with this, North America also has a high prevalence of chronic lifestyle disorders, which is also expected to boost the demand for peptides, which in turn, would contribute to the market growth in the region.
Alternatively, the market in Europe is also anticipated to occupy a significant share in the solid phase peptide synthesis market on account of high investments in solid phase peptide synthesis technologies and a high prevalence of obesity & diabetes in the region. As per the International Diabetes Federation Atlas, in 2019, around 59 million individuals in the age between 20-79 years had diabetes in Europe. Additionally, European region had the highest number of children and adolescents having Type-1 diabetes and the number amounted to 296,500 in total in the same year.
The global solid phase peptide synthesis market is further classified on the basis of region as follows:
Our in-depth analysis of the global solid phase peptide synthesis market includes the following segments:
Ans: The extensive research and development and the increasing technological advancements in development of solid phase peptide synthesizers are the key factors driving market growth.
Ans: The market is anticipated to attain a moderate CAGR over the forecast period, i.e., 2022-2030.
Ans: The problems associated with administering peptide drugs and dispersed regulations for therapeutic peptides are estimated to hamper the market growth.
Ans: The market in Asia Pacific region will provide ample growth opportunities owing to the rising demand for novel antibody and protein-based drugs in the region.
Ans: The major players dominating the solid phase peptide synthesis market are AAPPTec, LLC, CEM Corporation, Bachem Holding, and CSBio, among others.
Ans: The company profiles are selected on the basis of revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by product, end-user, and region.
Ans: With respect to end-user, the pharmaceutical & biotechnology industry segment is anticipated to hold the largest market share owing to the growth in use of peptides for therapeutic development.