Global Acromegaly Treatment Market |
Posted: October 3, 2021 |
The global acromegaly treatment market was valued at USD 1,304.4 Million in 2019 and is projected to reach USD 2,299.4 Million by 2027, expanding at a CAGR of 7.6% during the forecast period. Acromegaly is rare acquired endocrine disease which is related to excessive production of growth hormone (GH) and it is characterized by progressive systemic manifestation and somatic disfigurement (it involves the extremities and face).
Market Dynamics The market is driven by factors such as rising prevalence of acromegaly, growing number of hormonal diseases, rising number of clinical trials, and increasing awareness among people for acromegaly. Conversely, high cost for treatment and lack of awareness and infrastructure in under developed countries are acting as key restraints of this market. Untapped opportunities in emerging countries and rising investment in research and development are expected to create opportunities for market in the future. Segmental OutlookOn the basis of products, the acromegaly treatment market is divided into somatostatin analogs, growth hormone receptor antagonist (GHRA), and dopamine agonist. The somatostatin analogs are anticipated to expand at a CAGR of 7.9% during the forecast period due to the wide availability of drugs and cost efficiency. The growth hormone receptor antagonist segment is estimated to hold around 1/5th share of the market in 2020 owing to the inclusion of genetically engineered growth hormone which is used for blocking the dimerization of GH receptor. Based on end-users, the market is segmented into hospitals & clinics, and others. Hospital & clinics is projected to be attractive segment during the forecast period. Hospital & clinics are preferred by patients, as they provide medical and diagnostic treatments. Definitions By Product
Somatostatin Analogs: Somatostatin analogs are drugs that are used for stopping the excessive hormone secretion in the human body. Acromegaly and neuroendocrine tumor (NET) is a rare hormonal disorder, which is commonly treated with somatostatins analogs. Other types of common tumors that are treated with somatostatin analogs are GH-secreting tumors, VIPomas, glucagonomas, and carcinoid tumors. Somatostatins analogs are also used for treating Cushing syndrome. Somatostatins analogs is a synthetic version of somatostatins, which helps slow down the production of hormones of serotonins and growth hormones. Somatostatin analogs help control the symptoms of carcinoid syndromes such as flushing of the skin and diarrhea. Growth Hormone Receptors Antagonists (GHRA): The growth hormone is produced by the pituitary gland that regulates growth in children and affects fat, sugar, protein breakdown in adults and children. Excess levels of growth hormone can cause gigantism in adolescents & children and acromegaly in adults. Growth hormone receptors antagonists are used for the treatment of acromegaly to protect people from hormone diseases. They are used for blocking the growth of hormones in the body, as it helps reduce excess tissue growth. In the human body, GHRA is given in the form of subcutaneous injection, which helps reduce the production of insulin-like growth factor (IGF -1) by the liver. Currently, there is only one type of growth hormone receptor antagonist present in the market. Hospital & Clinic: A hospital & clinic is a health care facility that provides patients with specialist medical service and medical facilities. Hospitals are categorized as general, specialty, or government, depending on the source of income earned. A general hospital is the most well-known type of hospital. It usually has an emergency ward to cater to urgent health problems ranging from burn and accident victims to a sudden illness. A district hospital is a healthcare facility having multiple beds for intensive care and additional beds for patients in need of long-term care. Hospitals have a number of departments (including surgery and emergency care) and specialist facilities including cardiology. A clinic (or medical clinic or hospital clinic) is a health-care facility mainly for the treatment of the outpatient. Clinics cover the primary healthcare needs of the population in local communities by providing specialized treatments and admitting patients for overnight stays. Regional OutlookIn terms of regions, the global acromegaly treatment market is fragmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is a promising region for the market. The region constituted 1/5 of the market in 2020. The market in the region is projected to expand at a CAGR of 8.0% during the forecast period. Rising awareness regarding hormone-related diseases and rising healthcare expenditure are driving the acromegaly treatment market in Asia Pacific. The market in North America is projected to expand at a CAGR of 7.5% due growing prevalence of acromegaly in the region. According, to the American Society of Clinical Oncology (ASCO) in the US, 14,230 people were diagnosed with pituitary gland tumor in 2017.
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