The global customized peptide synthesis market attained a valuation of $268.8 million in 2018 and is expected to reach $390.0 million revenue in 2024. Furthermore, the market is expected to demonstrate a CAGR of 6.4% between 2019 and 2024, as per the forecast of the market research company, P&S Intelligence. The key market drivers are soaring research and development (R&D) activities in synthetic biology niche, rising prevalence of infectious diseases and cancer, surging investments being made in protein-based research projects, and rapid technological advancements.

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The swift technological innovations in peptide synthesis is one of the biggest factors fuelling the market growth across the world. There has been a drastic change in the usage of peptide in the pharmaceuticals companies over the last few years. Traditionally, natural sources such as ACTH (adrenocorticotropic hormone) from porcine and bovine pituitary and insulin from bovine and canine pancreas were used in the production of peptide. However, this production method produced lesser quantities of peptides and was time consuming and was thus, replaced by other innovative production methods.

The main reason behind the soaring development of innovative bio-based products is the rising prevalence of chronic diseases and the subsequent rise in the requirement of advanced treatment and preventive measures. Equipment and reagents are the two main categories under the product segmentation of the customized peptide synthesis market. Of these, the reagents division will exhibit faster growth in the market in the coming years, on account of the rising utilization of a plethora of reagents such as additives, substrates, precipitation agents, and buffers for peptide synthesis purposes. 

Therefore, the market will exhibit rapid progress all over the world in the years to come, primarily because of the increasing R&D activities in peptide synthesis processes and synthetic biology, increasing incidence of infectious diseases, and ballooning investments being made in protein-based research across the world.