Peptides are already ushering in a new wave of snake oil salesman as is often seen in the nutraceutical and supplement world. There is very limited research on BPC-157 and there is NO GOOD RESEARCH (randomized controlled research) in humans demonstrating any clear benefit.
"However, to date, the majority of studies have been performed on small rodent models and the efficacy of BPC 157 is yet to be confirmed in humans."
Given how many people are now using this I am sure with time we will get some better data on its efficacy. Be very suspicious of the marketing materials and anecdotal evidence provided by the companies selling these supplements as they are almost always cherry picked and biased.
This podcast has a lot of good information on some of the current more common peptides in use. There is about 20 minutes dedicated specifically to BPC-157.
TB-500 is in the same boat more or less. Time will tell and these compounds may prove to have a benefit but as of yet we have no good evidence.