What are Biggest Factors Fuelling Surge of Customized Peptide Synthesis Industry?
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. Driven by the above-mentioned factors, the valuation of the global customized peptide synthesis market size 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...