The global acromegaly treatment market was valued at USD 1,304.4 Million in 2019 and is projected to reach USD 2,299.4 Million by 2027, expanding at a CAGR of 7.6% during the forecast period. Acromegaly is rare acquired endocrine disease which is related to excessive production of growth hormone (GH) and it is characterized by progressive systemic manifestation and somatic disfigurement (it involves the extremities and face).
The market is driven by factors such as rising prevalence of acromegaly, growing number of hormonal diseases, rising number of clinical trials, and increasing awareness among people for acromegaly. Conversely, high cost for treatment and lack of awareness and infrastructure in under developed countries are acting as key restraints of this market. Untapped opportunities in emerging countries and rising investment in research and development are expected to create opportunities for market in the future.
On the basis of products, the acromegaly treatment market is divided into somatostatin analogs, growth hormone receptor antagonist (GHRA), and dopamine agonist. The somatostatin analogs are anticipated to expand at a CAGR of 7.9% during the forecast period due to the wide availability of drugs and cost efficiency. The growth hormone receptor antagonist segment is estimated to hold around 1/5th share of the market in 2020 owing to the inclusion of genetically engineered growth hormone which is used for blocking the dimerization of GH receptor.
Based on end-users, the market is segmented into hospitals & clinics, and others. Hospital & clinics is projected to be attractive segment during the forecast period. Hospital & clinics are preferred by patients, as they provide medical and diagnostic treatments.
Somatostatin Analogs: Somatostatin analogs are drugs that are used for stopping the excessive hormone secretion in the human body. Acromegaly and neuroendocrine tumor (NET) is a rare hormonal disorder, which is commonly treated with somatostatins analogs. Other types of common tumors that are treated with somatostatin analogs are GH-secreting tumors, VIPomas, glucagonomas, and carcinoid tumors. Somatostatins analogs are also used for treating Cushing syndrome. Somatostatins analogs is a synthetic version of somatostatins, which helps slow down the production of hormones of serotonins and growth hormones. Somatostatin analogs help control the symptoms of carcinoid syndromes such as flushing of the skin and diarrhea.
Growth Hormone Receptors Antagonists (GHRA): The growth hormone is produced by the pituitary gland that regulates growth in children and affects fat, sugar, protein breakdown in adults and children. Excess levels of growth hormone can cause gigantism in adolescents & children and acromegaly in adults. Growth hormone receptors antagonists are used for the treatment of acromegaly to protect people from hormone diseases. They are used for blocking the growth of hormones in the body, as it helps reduce excess tissue growth. In the human body, GHRA is given in the form of subcutaneous injection, which helps reduce the production of insulin-like growth factor (IGF -1) by the liver. Currently, there is only one type of growth hormone receptor antagonist present in the market.
Dopamine Agonist: Dopamine agonist is a prescribed medication, which is used in the combination with other medicines or alone to treat a variety of conditions that are resulted from dopamine loss. It is has been found that dopamine receptors are responsible for many muscle-, hormone-, and behavior-related effects in the body. Dopamine agonist drugs have mostly been prescribed to the patient who suffer from hormone- and movement-related disorders. This drug helps reduce the release of growth hormone in the human body.
By End User
Hospital & Clinic: A hospital & clinic is a health care facility that provides patients with specialist medical service and medical facilities. Hospitals are categorized as general, specialty, or government, depending on the source of income earned. A general hospital is the most well-known type of hospital. It usually has an emergency ward to cater to urgent health problems ranging from burn and accident victims to a sudden illness. A district hospital is a healthcare facility having multiple beds for intensive care and additional beds for patients in need of long-term care. Hospitals have a number of departments (including surgery and emergency care) and specialist facilities including cardiology. A clinic (or medical clinic or hospital clinic) is a health-care facility mainly for the treatment of the outpatient. Clinics cover the primary healthcare needs of the population in local communities by providing specialized treatments and admitting patients for overnight stays.
Others: Government organizations play an important role in the improvement of the health of people through strengthening the health system and providing health care facilities to all the people in their country. Government organization needs to achieve their goals by improving health condition, securing equity in health care financing, and reducing health inequalities.
The main task of private organizations in the health system is to provide health advocacy and services to the unprivileged people. Moreover, they need to provide social, psychological services, integration activities, nursing and care, financial and medical support, information services, and training.
In terms of regions, the global acromegaly treatment market is fragmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is a promising region for the market. The region constituted 1/5 of the market in 2020. The market in the region is projected to expand at a CAGR of 8.0% during the forecast period. Rising awareness regarding hormone-related diseases and rising healthcare expenditure are driving the acromegaly treatment market in Asia Pacific. The market in North America is projected to expand at a CAGR of 7.5% due growing prevalence of acromegaly in the region. According, to the American Society of Clinical Oncology (ASCO) in the US, 14,230 people were diagnosed with pituitary gland tumor in 2017.
Key players in the global acromegaly treatment market includes Novartis AG, Sun Pharmaceutical Industries Ltd., DAEWOONG PHARMACEUTICAL CO.,LTD., Dauntless Pharmaceuticals, and WOCKHARDT. These companies are considered as key manufacturers of acromegaly treatment drugs, based on their revenue, research & development activities, regional presence, and supply chain management system.
The players are adopting key strategies such as acquisition, and geographical expansion where potential opportunity for the Acromegaly Treatment extraction is added in the company’s capacity.
For instance, In June 2020, Chiasma Inc announced that its MYCAPSSA (Octreotide) capsules, which is the first and only oral somatostatin analog, received FDA approval.
In October 2019, Sun Pharmaceutical Industries Ltd. launched Drizalma Sprinkle (duloxetine delayed-release capsules) in the US for oral use. The Drizalma Sprinkle (duloxetine delayed-release capsules) is designed for the treatment of various neuro-psychiatric and pain disorders in patients who have difficulty in swallowing.
In April 2019, Ipsen Pharma completed acquisition of Clementia Pharmaceuticals. This acquisition provided clear validation of strategy and bolstered rare diseases pipeline with a strong cornerstone asset for multiple indications.
In-depth Analysis of the Global Acromegaly Treatment Market
Historical, Current and Projected Market Size in terms of Value
Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
Industry Drivers, Restraints and Opportunities Covered in the Study
Recent Industry Trends and Developments
Competitive Landscape & Strategies of Key Players
Neutral Perspective on Global Acromegaly Treatment Market Performance
Some frequently asked quetions about this report!
Additional company profiles can be provided on request.
Yes, the report covers product specific information such as composition development etc.
According to this Growth Market Reports report, the market from Acromegaly Treatment is likely to register a CAGR of 7.6% during forecast period 2020-2027, with an anticipated to reach USD 2,299.4 million by the end of the 2027.
In addition Regulations and Company Market Share (in % for base year 2019), SWOT analysis of the market, Political & Legal, Economic and Technological analysis for Acromegaly Treatment market is available in final report.
Rising prevalence of acromegaly, growing number of hormonal diseases, rising number of clinical trials, and increasing awareness among people for acromegaly.
Hospitals & Clinics and Others are the key end-user that are driving the Acromegaly Treatment market.
Factors such as competitive strength and market positioning are key areas considered while selecting top companies to be profiled.
The market is expected to maintain its normal growth between 2019 and 2020 owing to the continuous supply medicine and acromegaly cases. The ongoing research on acromegaly drug is expected to grow the demand for acromegaly treatment in the market.
The base year considered for the global Acromegaly Treatment market report is 2019. The complete analysis period is 2017 to 2027, wherein, 2017 & 2018 are the historic years and the forecast is provided from 2020 to 2027.
Major manufactures include, Novartis AG, Sun Pharmaceutical Industries Ltd., DAEWOONG PHARMACEUTICAL CO., LTD., Dauntless Pharmaceuticals, WOCKHARDT.
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