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(IT-NEWSWIRE.COM, May 14, 2021 ) The peptide synthesis market is projected to reach USD 426.4 million by 2023 from USD 310.5 million in 2018, at a CAGR of 6.5% during the forecast period. The global peptide synthesis market is a fragmented market. GenScript Biotech Corporation (China), Merck KGAA (Germany), AAPPTec (US), Bachem (Switzerland), and Biotage (Sweden) dominated the global peptide synthesis market in 2017.
GenScript Biotech Corporation
GenScript accounted for the largest share of the market in 2017. The company has a broad product/services portfolio in peptide synthesis market and focuses on research and development activities to enhance its offerings. For Instance, in 2016 the company’s research and development expenses were approximately USD 9.5 million, 8.3% of the total revenue. Also during the same year the revenue generated from the life sciences research services segment (that provides peptide synthesis services and products) was approximately USD 91.2 million, representing an increase of 18.6% as compared to approximately USD 76.9 million for 2015.
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Merck KGAA
Merck held the second position in the peptide synthesis market in 2017. The company offers a broad product portfolio of peptide synthesis reagents and custom peptide synthesis services in the market. To leverage growth opportunities in the peptide synthesis market, Merck focuses on adopting organic as well as inorganic growth strategies. For instance, in 2017, the company opened a new Life Science Center in Burlington, Massachusetts (US). The new center serves as a regional hub for scientific advancement and customer collaboration. Also in 2017, the company acquired Grzybowski Scientific Inventions (GSI). This acquisition helped the company to expand its chemical synthesis offering.
Bachem holdings
Bachem is an important player in the peptide synthesis market in 2017. The company offers catalog products that include amino acids, resins, linkers, & reagents. It also offers custom synthesis services in the market. The company aims on broadening its geographic reach by investing in strategic acquisitions, agreements, and collaborations. For instance in 2017, the company has renewed its supply agreement with AstraZeneca for the peptide active substance Goserelin. Also, in 2017 the Bachem Group entered into the collaboration with DOTTIKON ES to bring innovative, new amino acid derivatives for peptide synthesis in the market.
APAC is expected to grow at the highest CAGR during the forecast period.
Global peptide synthesis market has been studied for North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. APAC is expected to grow at the highest CAGR in the peptide synthesis market, primarily due to the increasing investments by pharmaceutical and biotechnology companies and rising R&D activities in the region.
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