Presently, the pharmaceutical sector is synthesizing peptides through multiple processes, on account of technological advancements. In earlier times, peptides were produced with the help of natural sources. For instance, adrenocorticotropic hormone (ACTH) was developed from porcine and bovine pituitary, and insulin was derived from bovine and canine pancreas. These manufacturing processes were time consuming and resulted in low production. However, with innovations in technology, biopharmaceutical companies have started creating synthetic peptides like vasopressin, leuprorelin, oxytocin, and octreotide with the help of solid-phase peptide synthesis (SPPS), hybrid and recombinant technology, and solution-phase peptide synthesis (SPS) technologies.
Browse In-depth Competitive landscape of the Customized Peptide Synthesis Market
Moreover, the surging participation of private and public research institutes in synthetic biology research will accelerate the customized peptide synthesis market at a CAGR of 6.4% during 2019–2024. The market stood at $268.8 million in 2018, and it has the potential to reach $390.0 million by 2024. The increasing participation of research entities will amplify the funding for the development of advanced and innovative bio-based products, to deal with the global health challenges. These research and development (R&D) activities are essentially aimed at producing better drugs for the treatment of chronic diseases.
Apart from pharmaceutical and biotechnology companies and academic and research institutes, contract manufacturing organizations (CMOs) and contract research organizations (CROs) also utilize peptides in large quantities. These entities require a wide range of reagents and equipment to synthesize peptides for antibody production, enzyme profiling, drug discovery, disease research, and biomarker discovery. The reagents utilized by them for the synthesis of peptides include precipitation agents, additives, substrates, and buffers, while the advanced platforms being used for the purpose include the PepTrend system.
According to P&S Intelligence, the Asia-Pacific customized peptide synthesis market will exhibit the fastest growth in the foreseeable future. This will be due to the high-volume usage of peptides in drug discovery, constant technological innovations, hefty R&D funding, and low cost of raw materials in the region. Drug manufacturers in APAC countries are racing to meet the growing requirement for peptide-based drugs to treat chronic diseases. Additionally, new research findings in the region will offer lucrative opportunities for the discovery of peptide-based drugs in the coming years.
Thus, the continuous technological advancements and hefty investments in R&D will lead to a significant rise in the peptide designing and synthesizing activities in the coming years.
