Global Somatropin Market to Surpass US$ 8.56 Billion by 2027, Says Coherent Market Insights (CMI)
August 5, 2020SEATTLE–(BUSINESS WIRE)–#Somatropin–According to Coherent Market Insights, the global somatropin market is estimated to be valued at US$ 5.02 billion in 2020 and is expected to exhibit a CAGR of 7.9% during the forecast period (2020-2027).
Key Trends and Analysis:
Key trends in the market are the increasing prevalence of growth hormone deficiency, and development of somatropin products by key players, and launches of somatropin products.
According to an article published in the Springer Nature journal in February 2017, the incidence of childhood onset growth hormone deficiency was around 2.58 per 100,000 in males and 1.70 per 100,000 in females.
Moreover, key players are focusing on development of new somatropin products in order to enhance their product portfolio and market presence, which is expected to drive growth of the somatropin market during the forecast period. For instance, in March 2017, GeneScience Pharmaceuticals Co., Ltd. initiated phase 2 clinical trial to evaluate the safety and efficacy of Pegylated Somatropin (PEG-somatropin) for the treatment of idiopathic short stature in pediatric patients. The trial is expected to be completed in June 2026.
Furthermore, key players are focusing on launching new and advanced delivery systems for the recombinant growth hormones which is expected to propel the market growth during the forecast period. For instance, in September 2018, Ferring Pharmaceuticals launched ZOMA-Jet 10, a needle free delivery system for the patients being treated with ZOMACTON 10mg, (somatropin for injection).
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Key Market Takeaways:
The global somatropin market is expected to exhibit a CAGR of 7.9% during the forecast period owing to the increasing prevalence of chronic renal insufficiency which is also known as chronic kidney disorder (CKD). According to an article published in the Lancet on February 13, 2020, around 697.5 million cases of all stage chronic kidney disorders were recorded globally in 2017.
Among regions, North America is expected to hold dominant position in the global market during the forecast period owing to the presence of key players such as Pfizer Inc., and the rising number of product approvals by regulatory authorities. For instance, in January 2018, Ferring Pharmaceuticals received approval from the U.S. Food and Drug Administration for ZOMACTON, somatropin Injection (5 mg and 10 mg) indicated for treatment of growth hormone deficiency in adults.
Key players operating in the global somatropin market are—
Novo Nordisk A/S, Pfizer, Inc., Eli Lilly and Company, GeneScience Pharmaceuticals, Sandoz International, Ipsen Inc., LG Life Sciences, Merck KGaA, F. Hoffmann-La Roche, Teva Pharmaceutical Industries Ltd., and Ferring Pharmaceuticals.
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Market Segmentation:
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Global Somatropin Market, By Dosage Form:
- Powder
- Solvent
-
Global Somatropin Market, By Application:
- Growth Hormone Deficiency (GHD)
- Turner Syndrome
- Chronic Renal Insufficiency
- Prader Willi Syndrome
- Small for Gestational Age
- SHOX Deficiency
- Others
-
Global Somatropin Market, By Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
-
Global Somatropin Market, By Region:
-
North America
- U.S.
- Canada
-
Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
-
Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
-
Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
-
Middle East
- GCC
- Israel
- Rest of Middle East
-
Africa
- South Africa
- Central Africa
- North Africa
-
North America
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