Somatotropin Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2026
- Transparency Market Research
Somatotropin is a type of drug used as a medication against the growth and regeneration among humans and also stimulates cell reproduction. Deficiency of growth hormones is rising across the globe. Advancements in technology including development of recombinant human growth hormone by the major players is boosting the growth of the somatotropin market. Moreover, the leading companies are focusing on raising production capacity in order to increase supply in rural areas. Somatropin is a recombinant form of growth hormone and is provided only as a prescription drug for the treatment of adult growth hormone and disorders related to child growth. In the U.S., it is only available at a pharmacy store on physician’s prescription. Physicians in the U.S. have begun to prescribe somatotropin to older patients for some growth defects, but not to healthy individuals.
The global somatotropin drugs market can be segmented based on product type, application, route of administration, and distribution channel. In terms of product type, the global market can be bifurcated into powder and solvent. Based on application, the global somatotropin drug market can be classified into Turner’s syndrome, growth hormone deficiency, Prader-Willi syndrome, chronic renal insufficiency, idiopathic short stature, small for gestational age, and others. The growth hormone deficiency segment is expected to witness strong growth during the forecast period. Pituitary tumors, metabolic abnormalities, and skeletal abnormalities are the primary causes of growth hormone deficiency. Adults with growth hormone deficiency are also increasingly taking growth hormone injections, as these protect them from increased muscle mass, fractures, and also reduce the risk of heart diseases. In terms of route of administration, the global somatotropin drug market can be categorized into intramuscular, intravenous, and subcutaneous. The subcutaneous segment is likely to witness substantial growth during the forecast period owing to significant rise in growth rates and low incidence of antibody development. Moreover, subcutaneous route is highly preferred for chronic growth hormone therapy. Based on distribution channel, the global market can be divided into hospital pharmacies, retail pharmacies, online pharmacies, and clinics. Hospital pharmacies is likely to be the largest distribution channel segment of the global somatotropin market. This is attributed to high cost of human growth hormone drugs. Moreover, high investment in the development of advanced health care centers and hospitals by governments in various countries drives the distribution of growth hormone drugs through hospital pharmacies.
Geographically, the somatotropin drug market can be segmented into five major regions: North America, Middle East & Africa, Latin America, Asia Pacific, and Europe. North America is the leading market for somatotropin drug in terms of revenue, followed by Europe. The U.S. held the largest share of the market in North America. Asia Pacific and Latin America are emerging markets and are expected to witness significant growth during the forecast period. High growth rates in these regions are attributable to increase in number of people having growth hormone deficiency. The somatotropin drug market in countries such as China, India, and Brazil is projected to expand at a rapid pace during the forecast period due to increase in awareness among the population about growth hormone deficiency treatment.
Major players operating in the global somatotropin drug market include Merck KGaA, Eli Lilly and Company, Novo Nordisk A/S, Anhui Anke Biotechnology Co., Ltd., Ipsen S.A., GeneScience Pharmaceuticals Co., Ltd., Roche Holdings, Inc., Pfizer Inc., Novartis AG, and Biopartners GmbH.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
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- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.
Somatotropin is a type of drug used as a medication against the growth and regeneration among humans and also stimulates cell reproduction. Deficiency of growth hormones is rising across the globe. Advancements in technology including development of recombinant human growth hormone by the major players is boosting the growth of the somatotropin market.
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