Customized Peptide Synthesis Market by Product (Reagents, Equipment [Peptide Synthesizers, Chromatography Equipment, Lyophilizers]), by Application (Commercial [Antibody Production, Drug Discovery, Enzyme Profiling], Academic Research [Disease Research, Biomarker Discovery]), by Technology (SPPS, SPS, Hybrid & Recombinant Technology), by End User (Pharmaceutical & Biotechnology Companies, CMOs & CROs, Academic & Research Institutes), by Geography (U.S., Canada, Germany, France, U.K., Italy, Spain, China, Japan, India, South Korea, Singapore, Brazil, Mexico, Israel, South Africa, Saudi Arabia) – Global Market Size, Share, Development, Growth, and Demand Forecast, 2014–2024
NEW YORK, Jan. 24, 2019 (GLOBE NEWSWIRE) -- According to the market research report published by P&S Intelligence, 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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The different types of products available in the customized peptide synthesis market are reagents and equipment. Reagents category is expected to observe faster growth in demand, witnessing a CAGR of 6.8% during the forecast period. This growth can be attributed to the high usage of a wide range of reagents including substrates, additives, buffers, precipitation agents, and others for the purpose of peptide synthesis.
Among the various applications, commercial application is the fastest growing category in the customized peptide synthesis industry, demonstrating a CAGR of 6.9% during the forecast period. The recent advancements in chemical peptide synthesis and inclusion of modified amino acids have increased the commercial potential of customized peptides.
Based on technology, SPPS technology is predicted to be the fastest growing technology in the global market in the coming years, advancing at a CAGR of 6.9% during 2019-2024. As compared to SPS, this technology has high efficiency and throughput screening, with greater simplicity and speed for the production of peptides.
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Pharmaceutical and biotechnology companies as an end-user category is predicted to witness fastest growth in the customized peptide synthesis market, registering a CAGR of 6.8% during the forecast period. This growth is mainly due to extensive research and large production of peptides by pharma and biotech companies across the globe.
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.
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.
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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.
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