Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Global Somatropin Market, By Dosage Form (Powder and Solvent), By Application (Growth Hormone Deficiency (GHD), Turner Syndrome, Chronic Renal Insufficiency, Prader Willi Syndrome, Small for Gestational Age, SHOX Deficiency, and Others), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), 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), as highlighted in a new report published by Coherent Market Insights.
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The increasing prevalence of growth hormone deficiency due to trauma and brain injuries is expected to drive the growth of the global somatropin market during the forecast period. According to a study published in the International Journal of Molecular Sciences in July 2019, growth hormone deficiency is one of the most common pituitary hormone deficits observed in long term survivors of traumatic brain injury (TBI). The prevalence of acute growth hormone deficiency within one month of traumatic brain injury is around 2 to 30%. According to the same source, growth hormone deficiency is the most common pituitary hormone deficiency found in the chronic phase of traumatic brain injury (TBI) and ranges between 10% and 63.6%.
Global Somatropin Market – Impact of Coronavirus (Covid-19) Pandemic
Following the outbreak of COVID-19 in December 2019, the disease has spread to over 100 countries across the globe with the World Health Organization declaring it a public health emergency. According to the World Health Organization’s report, the manifestation of coronavirus (COVID-19) has resulted in more than 5 million infected individuals worldwide as of June 2020.
COVID-19 can affect the economy in three main ways; 1) By directly affecting the production and demand; 2) By creating disruptions in distribution channels; and 3) By its financial impact on firms and financial markets. Supply chain and manufacturing activities in India, China, and the U.S. are being disrupted due to global lockdowns while many countries such as Saudi Arabia, UAE, Egypt, and others are facing problems with regards to transportation of drugs from one place to another.
Browse 27 Market Data Tables and 26 Figures spread through 201 Pages and in-depth TOC on “Somatropin Market”- Global Forecast to 2027, Global Somatropin Market, By Dosage Form (Powder and Solvent), By Application (Growth Hormone Deficiency (GHD), Turner Syndrome, Chronic Renal Insufficiency, Prader Willi Syndrome, Small for Gestational Age, SHOX Deficiency, and Others), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa).
To know the latest trends and insights prevalent in the global somatropin market Press Release, click the link below: https://www.coherentmarketinsights.com/press-release/somatropin-market-3320
Research institutes and market players are collaboratively conducting clinical trials for somatropin products which is expected to propel the market growth during the forecast period. For instance, in July 2019, Nemours Children’s Clinic and Novo Nordisk A/S initiated an observational study to evaluate the functional effects of the recombinant growth hormone (somatropin) in short prepubertal boys with either idiopathic short stature or growth hormone deficiency.
Key Takeaways of the Global Somatropin Market:
- 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 the Quality and Outcomes Framework (QOF) reports for England in 2017-18, the prevalence of chronic kidney disorder (CKD), stage 3-5, was around 4.1 per 100 in England.
- Among dosage form, the solvent segment accounted for the largest market share in 2019 owing to approvals by regulatory authorities. For instance, in October 2019, Ascendis Pharma A/S announced that TransCon Growth Hormone (hGH), a long-acting growth hormone that releases unmodified somatropin, received the Orphan Designation from the European Commission (EC).
- Among application, growth hormone deficiency (GHD) segment accounted for the largest market share in 2019 owing to the increasing prevalence of growth hormone deficiency. According to an article published in the Journal of Pediatric Endocrinology and Metabolism in March 2019, the prevalence of growth hormone deficiency in children in the U.K. is around 1 in 4000 in 2016.
- 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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