Proteins are long chains of amino acids. Cut that chain short — conventionally to fewer than about fifty links — and you have a peptide. The length matters less than the sequence: the order of the amino acids determines the shape, and the shape determines what the molecule can bind to.
The body uses peptides as messengers. Insulin, glucagon, GLP-1, growth hormone and dozens of immune signals are all peptides. They are made on demand, released into the blood, act on a target cell, and are then dismantled by enzymes within minutes. That fast on-off cycle is the point: it lets the body adjust second by second.
Peptide medicines copy that logic. Some are identical to a natural hormone, some are modified to last longer, and some are fragments of a larger protein whose full behaviour in humans has never been established. Which of those three you are looking at changes how much weight the evidence deserves.