Market Size in 2021 | Market Forecast in 2028 | CAGR (in %) | Base Year |
---|---|---|---|
USD 1.24 Billion | USD 8.42 Billion | 10.4% | 2021 |
FrequentlyAsked Questions
The growing prevalence of chronic disease is the prime factor that is fueling the demand for oral proteins and peptides market. According to recent statistics, approximately 15% of individuals in the United States reported having at minimum two chronic medical illnesses in 2021, compared to only around 11% of older millennials. It is the primary cause of disability and death, as well as the $3.8 trillion in annual healthcare costs in the United States. In addition to this, the increase in the geriatric population which is prone to chronic diseases including diabetes, digestive disorders, and many more are also contributing to the market growth.
According to the Zion Market Research report, the global oral proteins and peptides market was worth about 1.24 (USD billion) in 2021 and is predicted to grow to around 8.42 (USD billion) by 2028, with a compound annual growth rate (CAGR) of around 10.4 percent.
North America is predicted to account for the largest share in the market for oral proteins and peptides during the forecast period. This is majorly due to an increase in the inclination of people for effective treatments and well-developed healthcare infrastructure. Further, the presence of a significant number of major players in the region, as well as growing consumer awareness of the main benefits of oral proteins and peptides, are expected to fuel the market's growth in the near future
Key players active in the global oral proteins and peptides market are Proxima Concepts Limited (Diabetology Ltd.), Allergan plc, Biocon Limited, Chiasma, Inc., Generex Biotechnology Corp., Hovione Limited, Synergy Pharmaceuticals Inc., AstraZeneca plc, Novo Nordisk A/S, Tarsa Therapeutics Inc., Sanofi S.A., F. Hoffmann-La Roche AG, Synthetic Biologics, Inc., and Novartis International AG.
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