Acromegaly Market Overview

This rare disease affects an average of 5-8 people for every 100,000 individuals. Lack of treatment can lead to high chances of morbidity. As a result, there is a high demand for the treatment of acromegaly. Consequences of the disease that often needs further treatment include blood pressure problems, type 2 diabetes and high risk of cardiovascular diseases. Increasing occurrences and diagnoses of hormonal diseases combined with government support toward the treatment of such diseases will likely lead to market growth. Moreover, technological advancements and research & development activities are fuelled by the demand for effective treatment. However, surgeries for treatment of acromegaly are expensive, and the lack of effective treatment for the same is expected to hinder the growth of the acromegaly market.

Development of insulin growth factor (IGF-1) and growth hormone (GH) suppression tests is a positive indicator of its growth in the coming years. Somatostatin analogs combined with a strong development of drugs in the pipeline can fuel the market growth. Rollout of policies and insurance schemes for patients with rare diseases is anticipated to bode well for the market during the forecast period. The market is experiencing rapid growth owing to increasing prevalence of acromegaly, changing lifestyle and increasing need for better treatment & cost-effective treatment. Additionally, increasing government support along with the per capita income fuels the Acromegaly Treatment Market  growth. However, the cost of the treatment ranges from USD 2,800 to USD 9,200. On the other hand, the market may witness slow growth over the assessment period due to high cost of treatment and limited number of treatment. 

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 Segmentation

• The global acromegaly market is segmented on the basis of type, diagnosis, treatment, and end-user.
• By type, the market is segmented into acromegaly due to growth hormone, ectopic acromegaly, and others.
• By diagnosis, the market is segmented into medical laboratory investigations, medical imaging, and others.
• By treatment, the market is segmented into radiation therapy, surgery, medications, and others.
• By end-user, the market is segmented into clinics, hospitals, and others.surgery. By end-users, the market is comprised of clinics, hospitals, and others.

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Acromegaly Market Regional Analysis

• The Americas, due to their inclusion of North American and its concentration of developed economies, accounts for the largest market share of the global acromegaly market. Over 3,000 cases of acromegaly occur in the region on a yearly basis. The U.S has a high number of patient population for acromegaly. Moreover, the region's patients have high disposable incomes and display a high demand for an advanced treatment option. Government support for the same, combined with the presence of leading players in the region and the high healthcare expenditure is expected to drive market growth.
• The Asia Pacific accounts for the fastest growing region for the acromegaly market due to the presence of a massive patient population which is witnessing increasing occurrences of hormonal disease. Moreover, the swiftly developing healthcare sector is expected to provide lucrative opportunities for market advancement.

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