What are Biggest Factors Fuelling Surge of Global Customized Peptide Synthesis Market?

Rapid technological developments in peptide utilization in the pharmaceutical industry are one of the biggest factors responsible for the rise in the demand for customized peptide synthesis across the world. Peptide has been conventionally produced from natural sources such as adrenocorticotropic hormone (ACTH) from bovine and porcine pituitary and insulin from canine and bovine pancreas. This production process was time-consuming and produced lower quantities of peptide. However, due to the technological advancements in the last few years, manufacturers have started shifting toward the synthesis of synthetic peptides such as octreotide, leuprorelin, and oxytocin.

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The other major factor propelling the demand for customized peptide synthesis is the rising participation of private and public research organizations in synthetic biology research across the globe. The number of private and public companies conducting research and development (R&D) activities on synthetic biology increased tremendously from 2009 to 2013. In addition to this, there has been a huge rise in the investments made on R&D activities for the development of advanced bio-based products in order to overcome several global health challenges such as the increasing prevalence of chronic diseases.

Driven by the above-mentioned factors, the valuation of the global customized peptide synthesis market is predicted to increase from $268.8 million in 2018 to $390.0 million by 2024. The market is also expected to advance at a 6.4% CAGR during the forecast period (2019–2024). There are two types of products used in the customized peptide synthesis process — equipment and reagents. Of these, the reagents are expected to register faster growth in utilization during the forecast period, on account of the mushrooming usage of numerous types of reagents, such as additives, buffers, and precipitation agents for peptide synthesis.

Therefore, it can be said with full confidence that the demand for customized peptide synthesis methods will increase throughout the globe, in the coming years, owing to the rising need for customized peptides in various commercial applications and the increasing R&D activities for the development of innovative bio-based products.

Read more: https://www.psmarketresearch.com/market-analysis/customized-peptide-synthesis-market

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