The global Somatropin Market Growth Accelerated by Increasing...

The global Somatropin Market Growth Accelerated by Increasing Incidence of Growth Hormone Deficiency

Posted 2023-12-21 07:29:24

Somatropin, also known as human growth hormone, is a peptide hormone that stimulates growth and cell reproduction. Somatropin injections are used to treat growth hormone deficiency. Somatropin helps control body fat and muscle mass and aids the metabolism of lipids, proteins and carbohydrates. For children deficient in growth hormone, Somatropin injections can help boost growth and development.

The global Somatropin Market is estimated to be valued at US$ 3.85 Bn in 2023 and is expected to exhibit a CAGR of 7.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

Growth in the somatropin market is primarily driven by the increasing prevalence of growth hormone deficiency. Growth hormone deficiency can occur at any age but is most common in children and young adults. As per recent studies, the global prevalence of growth hormone deficiency is estimated to be around 1 in 3,000-4,000 individuals. The rising cases of growth hormone deficiency due to genetic abnormalities, cancer treatment, brain damage or other causes is expected to boost the demand for somatropin drugs over the forecast period. Somatropin replacement therapy is the standard treatment for growth hormone deficiency and recombinant human growth hormone drugs like somatropin are widely prescribed to regulate bodily functions and promote growth in patients with the condition.

Segment Analysis
The global Somatropin Market Growth is dominated by the recombinant biosimilar segment. Recombinant somatropin drugs are identical to naturally occurring growth hormones. Due to their high purity and effectiveness in the treatment of growth hormone deficiency and other indications, the recombinant biosimilar segment accounts for over 80% of the overall market share.

Key Takeaways
The global Somatropin market is expected to witness high growth. The global Somatropin Market is estimated to be valued at US$ 3.85 Bn in 2023 and is expected to exhibit a CAGR of 7.3% over the forecast period 2023 to 2030.

Regional analysis

The North American region is currently dominating the global Somatropin market owing to developed healthcare infrastructure, high adoption of recombinant somatropin drugs and presence of major manufacturers in the region. Additionally, the approval of recombinant somatropin drugs to treat indications other than growth hormone deficiency is also fueling the growth of the market in this region. The Asia Pacific region is expected to witness fastest growth over the forecast period owing to rising incidence of growth hormone deficiency, increasing awareness and improving access to somatropin drugs in major Asian countries.

Key players
Key players operating in the Somatropin market are Novo Nordisk A/S, Pfizer, Inc., Eli Lilly and Company, Changchun GeneScience Pharmaceutical Co., Ltd., Sandoz International GmbH, Ipsen Pharma, LG Chem, Merck KGaA, Genentech, Inc., Ferring B.V., AnkeBio Co., Ltd, Reliance Life Sciences, JCR Pharmaceuticals Co., Ltd, Zhongshan Sinobioway Hygene Biomedicine Co., Ltd and USV Private Limited.

Get more insights on this topic:https://perfectinsights.blogspot.com/2023/12/somatropin-market-is-estimated-to.html