Customized Peptide Synthesis Market in APAC is Expected to Witness the Fastest Growth, Observing a CAGR of 7.9%
Customized peptide synthesis market is forecasted to generate revenue of $390.0 million by 2024. The market is mainly driven by increasing investments and funding for protein-based research, technological innovations, growing burden of cancer and infectious diseases, and increasing research activities in the field of synthetic biology.
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During the forecast period, customized peptide synthesis market in APAC is expected to witness the fastest growth, observing a CAGR of 7.9%. The growth in the market is mainly led by the increasing use of peptides in drug discovery, low cost of raw materials, technological advancements, increasing life sciences research activities, and availability of funds for research and development.
Additionally, increase in the sale of drugs derived from peptides has attracted interest of drug manufacturers toward the development of innovative and advanced products for treating chronic diseases. For instance, China Medical System Holdings Limited, developed XinHouSu, a recombinant human brain natriuretic peptide for injection, for treating acute heart failure. XinHouSu, which is currently available only in China, recorded revenue of $62.3 million in 2017, witnessing an 18.9% increase compared to 2016 revenue.
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Globally, the customized peptide synthesis market is witnessing rapid evolution with the development and launch of new peptide-based products. For instance, in September 2018, Biotage AB launched its new Alstra remote software, which enables the users to program the peptide synthesis setup offline, subsequently import peptide sequences, and then execute the synthesis on Initiator + Alstra.
Moreover, various research institutes are actively involved in advanced research activities related to peptide synthesis. For example, in February 2017, researchers at the Massachusetts Institute of Technology (MIT) designed a machine that can rapidly produce large quantities of customized peptides. The machine can form links between amino acids in about 37 seconds and can generate peptide molecules (containing up to 60 amino acids) in less than an hour. Hence, the market is witnessing evolution on account of new product launches and advanced research.
Some of the other key players operating in the customized peptide synthesis industry are GenScript Biotech Corporation, Bachem AG, Thermo Fisher Scientific Inc., AAPPTec LLC, Advanced ChemTech, AnaSpec Inc., New England Peptide Inc., Rockland Immunochemicals Inc., INTAVIS Bioanalytical Instruments AG, and JPT Peptide Technologies GmbH.
Source: P&S Intelligence
