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Report Overview
2023
Base Year
2017-2023
Historical Year
2024-2032
Forecast Year
Global Acromegaly Treatment Market Outlook
The global acromegaly treatment market size attained a value of USD 1.73 billion in 2023. The market is likely to witness further growth at a CAGR of 7.7% during the forecast period of 2024-2032 to attain a value of approximately USD 3.36 billion by 2032. The growth of the market can be attributed to the rising awareness about the disorder among healthcare professionals and patients.
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North America is Expected to Lead the Market for Acromegaly Treatment
North America, owing to the high demand for novel prescriptions, innovative products, and the presence of established players in the market, is expected to be the leading region for acromegaly treatment. The United States and Canada are the largest markets for acromegaly treatment; due to the growing population prevalence of the disease, the medical institutes are spreading awareness of treatments with the government introducing favourable policies. Furthermore, the rise in collaborations and effort in research and development by the established organisations to develop new products and innovative procedures are propelling the demand for treatment, which in turn, helps in market growth.
Asia Pacific is Proliferating with the Increased Funding for Healthcare
Asia Pacific is showing promising growth opportunities for the market. The region is going through industrialisation, and people are increasingly moving to urban areas seeking a better lifestyle, which shows the rising awareness among people. The government is increasing their healthcare expenditure to establish an improved infrastructure, and with development in various sectors, the spending power of people will simultaneously increase, which will further drive the market growth.
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Market Segmentations
Acromegaly is a hormonal disorder that develops in the pituitary gland, which increases growth hormone production. A non-cancerous tumour usually causes it. In acromegaly treatment, the goal is to restore the pituitary gland to function normally and produce normal levels of growth hormone.
By product, the market for acromegaly treatment includes:
- Somatostatin Analogs (SSA)
- Growth Hormone Receptor Antagonist (GHRA)
- Others
The end-uses of the acromegaly treatment include:
- Hospitals
- Clinics
- Others
The regional markets for acromegaly treatment can be divided into North America, Europe, the Asia Pacific, Latin America, the Middle East, and Africa, with North America leading the market and Asia Pacific being the fastest-growing region.
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Rising Prevalence of Diseases and New Medications Bolstering the Market Growth
As the population rises, the number of patients is increasing, and to provide safe and sufficient services, and the healthcare infrastructure is being developed continuously. Advancements in surgery and innovative alternate techniques are further broadening the market limits. The high cost of surgery can pose a little setback to market growth. However, governments are introducing favourable policies to spread medical treatment awareness. Multiple medical institutes and organisations are focusing on research and development to introduce novel medications, such as somatostatin analogs, which help stop the excess production of growth hormones. Additionally, with the launch of technologically advanced detection techniques like radiosurgery, radio imaging technologies provide cost-effective options for diagnosis with minimum side effects.
Key Players in the Global Market for Acromegaly Treatment
The report gives a detailed analysis of the following key players in the global acromegaly treatment market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, investments, expansions of capacity, and plant turnarounds:
- F. Hoffmann-La Roche Ltd.
- Mylan N.V.
- Teva Pharmaceutical Industries Ltd.
- Sanofi
- Pfizer Inc.
- GlaxoSmithKline plc.
- Novartis AG
- Merck & Co., Inc.
- Allergan
- AstraZeneca
- Johnson & Johnson Private Limited
- Hikma Pharmaceuticals PLC.
- Bristol-Myers Squibb Company
- Bayer AG
- Boehringer Ingelheim International GmbH.
- Dr. Reddy's Laboratories Ltd.
- Gilead Sciences, Inc.
- Eli Lilly and Company
- AbbVie Inc.
- Lupin
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2017-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Diagnosis Type |
|
| Breakup by Treatment Type |
|
| Breakup by Diseases Type |
|
| Breakup by Route of Administration |
|
| Breakup by Treatment Centers |
|
| Breakup by Treatment Channel |
|
| Breakup by Distribution Channel |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Supplier Landscape |
|
| Companies Covered |
|
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the global market for acromegaly treatment attained a value of nearly USD 1.73 billion.
The market is projected to grow at a CAGR of 7.7% between 2024 and 2032.
The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach USD 3.36 billion by 2032.
The increasing prevalence of diseases among the growing population, technological advancements, and increasing investment in healthcare are the major industry drivers.
The players' key industry trends are technological advancements and favourable government policies to reduce treatment expenses.
The major regions in the industry are North America, Latin America, the Middle East, Africa, Europe, and the Asia Pacific, with North America being the leading region in the market and Asia Pacific growing at an exponential rate.
The different products in the market include somatostatin analogs (SSA) and growth hormone receptor antagonist (GHRA), among others.
The end-users for acromegaly treatment in the market include Hospitals and Clinics, among others.
The major players in the industry are Novartis AG, Ipsen Biopharmaceuticals, Inc., Chiasma, Inc., Pfizer Inc., and Ionis Pharmaceuticals, Inc., among others.
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