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At the same time, these new peptide are also finding application in various other therapeutic areas. Also, increasing occurrence of cancer is anticipated to be instrumental in boosting the demand for peptide based cancer therapeutics in the near future. As per WHO, over 8 million deaths were recorder globally due to cancer in 2015. Cancer remains one of the foremost causes of death around the world. Factors mentioned above are projected to make a significant influence on the global market for peptide based cancer therapeutics over the forecast period. Moreover, low potency of conventional cancer therapeutics and the adverse side-effects from these therapeutics is prompting physicians to utilise other options. This, in turn, is facilitating the adoption of new-age peptide based therapeutic drugs.
Among regions, North America is expected to remain the most attractive market for peptide based cancer therapeutics during the forecast period. This is largely due to the existence of several prominent peptide based cancer therapeutic drug makers and an advanced healthcare infrastructure in the region. Over the next couple of years, the region’s market is projected to witness a healthy growth. Meanwhile, the market in Asia-Pacific excluding Japan (APEJ) is anticipated to register the fastest CAGR over 2022.
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Based on drugs, demand for bortezomib is expected to remain relative higher as compared to other peptide based cancer therapeutic drugs. Revenues from global sales of bortezomib drugs currently commands for nearly 40% market share. Towards the end of 2022, more than US$ 4,700 Mn worth bortezomib drugs are estimated to be sold worldwide.
Valeant Pharmaceuticals International, Inc., Allergan plc, AbbVie Inc., AstraZeneca PLC, Takeda Pharmaceutical Company Limited, Abbott, Pfizer Inc., and Johnson & Johnson are among the leading companies functioning in the global market for peptide based cancer therapeutics. Majority of these market players are actively focusing on further product development as well as channelizing their investments in R&D activities.
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