Endocrinology Drugs Market Outlook 2031
The Global Endocrinology drugs market size was valued at USD 36.55 Billion in 2022 and is likely reach to USD 69.49 Billion by 2031, expanding at a CAGR of 7.4% during the forecast period, 2023–2031. The growth of the market is attributed to growing prevalence of endocrine diseases.
Growing geriatric population which is more vulnerable to suffer from such diseases owing to hormonal variations is estimated to fuel the market. Endocrinology drugs are used to treat complexities of the endocrine system and modulate the hormonal changes in the body.
They are specifically focused towards pituitary, endocrine organs, adrenals, thyroid, testes, ovaries, and pancreas that regulate hormone secretions.
Unhealthy lifestyle such as work stress, huge intake of cholesterol, and weight gain, eventually leads to inception of new drug delivery systems, malfunctioning of the system, and increasing disposable income which is expected to propel the market.
The adoption rate of formulations of existing drugs and novel dosage forms is expected to increase as the number of patients for the treatment of such disorders.
Market Trends, Drivers, Restraints, and Opportunities
- Rising prevalence of endocrine diseases are expected to drive endocrinology drugs market
- Rising geriatric population which is more vulnerable to suffer from such diseases, which is expected to boost the market.
- Unhealthy lifestyle such as work stress, high intake of cholesterol, and weight gain is expected to be a key factor to accelerate the market.
- Extensive research & development activities, inception of new drug delivery systems, and rising disposable income are expected to propel the market.
- Increasing adoption of formulations of existing drugs and novel dosage forms are the key drivers of the market in the coming years.
- Illegal use of drugs for better performance by sports professionals is expected to restrain the market growth.
Scope of Endocrinology Drugs Market Report
The report on the global endocrinology drugs market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Endocrinology Drugs Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Products (Hormone, Diabetes, Hypothyroidism, Hypogonadism, and Acromegaly)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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F. Hoffmann-La Roche AG.; Alacer Corporation; Pfizer Inc.; Abbott Laboratories; Novartis International AG; Eli Lilly and Company; Facet Biotech Corporation; Novo Nordisk A/S, and Sanofi.
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Endocrinology Drugs Market Segment Insights
The diabetes segment is expected to grow at a rapid pace
Based on products, the global endocrinology drugs market is segregated into hormone, diabetes, hypothyroidism, hypogonadism, and acromegaly. The diabetes segment accounts for a key share of the market owing to the presence of strong product pipelines and novel drug therapies.
Meanwhile, the hypogonadism segment is anticipated to expand at a rapid pace during the forecast period due to increasing prevalence of deficiency of testosterone and associated complications.
Endocrinology Drugs Market Regional Outlook
North America is anticipated to constitute a key market share
In terms of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America accounts for a key share of the market owing to rising prevalence of endocrine diseases and increasing adoption of hormone replacement therapies.
The market of Asia Pacific is estimated to expand at a rapid pace during the forecast period due to increasing R&D activities and growing healthcare infrastructure.
Segments
Products
- Hormone
- Diabetes
- Hypothyroidism
- Hypogonadism
- Acromegaly
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- F. Hoffmann-La Roche AG.
- Alacer Corporation
- Pfizer Inc.
- Abbott Laboratories
- Novartis International AG
- Eli Lilly and Company
- Facet Biotech Corporation
- Novo Nordisk A/S
- Sanofi
Competitive Landscape
Key players competing in the endocrinology drugs market include F. Hoffmann-La Roche AG.; Alacer Corporation; Pfizer Inc.; Abbott Laboratories; Novartis International AG; Eli Lilly and Company; Facet Biotech Corporation; Novo Nordisk A/S, and Sanofi.
Some of these players are using several market strategies such as acquisitions, merger, collaborations, partnerships, capacity expansion, and product launches to enhance their market shares and to generate revenue and raise their production line of the business in the coming years.
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