Market Trends of Peptide And Anticoagulant Drugs Industry
The Cancer Segment is Expected to Hold a Significant Market Share During the Forecast Period
Cancer is a disease in which some of the body's cells grow uncontrollably and spread to other parts. The increasing prevalence of cancer worldwide and the rising R&D for better oncology drugs are the major factors expected to boost segmental growth during the forecast period.
For instance, according to a report published by PubMed Central in March 2022, 274,488 new cancer cases and 81,277 cancer deaths were expected in South Korea in 2022. The most common cancer types were expected to be thyroid cancer, lung cancer, colon and rectum cancer, breast cancer, and stomach cancer. These five types of cancer are expected to represent half of the overall burden of cancer in South Korea. The most common type of cancer leading to death is expected to be lung cancer, followed by liver, colorectal, pancreatic, and gallbladder cancers. Thus, the rising prevalence of cancer is expected to boost the usage of peptide drugs.
According to the bi-annual report published by the Indian Council of Medical Research (ICMR) in December 2022, the average of cancer cases in 2022 in India was 100.4 per 100,000, with a large number of women (an estimated 105.4 per 100,000) being diagnosed with breast cancer. The source also stated an estimated 182,000 people are living with breast cancer in India, which is expected to reach 250,000 by 2030. Thus, due to the country's high burden of breast cancer, the demand for peptide drugs is expected to increase, which will drive the growth of the market.
According to the data published by the National Institutes of Health (NIH) in May 2022, research funding for cancer in the United States was expected to increase from USD 7,362 million in 2021 to USD 7,644 million in 2022. Thus, the rising R&D expenses for cancer are expected to boost segmental growth.
Hence, factors such as the rising prevalence of cancer and the growing R&D expenses for cancer are expected to drive the segment during the forecast period.
North America is Expected to Hold a Significant Market Share During the Forecast Period
North America is expected to hold a significant share of the peptide and anticoagulant drugs market during the forecast period due to the increasing necessity of drugs for cancer, the increasing prevalence of cardiovascular disorders and other diseases, and the high demand for peptide and anticoagulant drugs. The United States holds the largest market share in North America due to factors such as the increasing burden of cancer and the growing prevalence of cardiovascular disorders, which is anticipated to stimulate the demand for peptide and anticoagulant drugs.
The region's rising prevalence of various cancers stimulates the market's growth. For instance, as per the Canada Cancer Society's statistics for 2024, around 247,000 Canadians are expected to be diagnosed with cancer in 2024. Additionally, as per the American Cancer Society's data for 2024, around 2.0 million new cancer cases are expected to be diagnosed in the United States in 2024, an increase of 1.9 million in 2023. Thus, the high incidence of cancer cases leads to increased demand for peptide drugs, thereby driving the market in the region.
According to an article published by the Heart and Stroke Foundation of Canada in February 2022, in Canada, 750,000 people lived with heart failure in 2022, and 100,000 people are diagnosed with this incurable condition each year. Thus, the country's high cardiovascular disease burden is expected to increase the demand for anticoagulant drugs, thus boosting the market's growth.
The rising developments by major market players are also expected to drive the market. For instance, in February 2022, Bayer AG won fast-track status from the United States Food and Drug Administration (FDA) for a new blood thinner to prevent certain types of strokes. The FDA granted fast-track designation for the review of the drug candidate asundexian for avoiding a recurrence in patients who have suffered a non-cardioembolic stroke due to clogged vessels. Thus, such developments are expected to contribute to the market growth.
Thus, factors such as the rising prevalence of cancer and other metabolic disorders and the increasing developments by key market players are expected to drive the market in the region.
