According to the most recent Growth Plus Reports analysis, the Global Acromegaly Market was valued at US$ 1.56 billion in 2022 and is expected to register a revenue CAGR of 7.7% to reach US$ 3.04 billion by 2031 during the forecast period from 2023 to 2031. The research describes the most successful strategies, market trends, key drivers and opportunities, the competitive landscape, market size, statistic figures, revenue forecasts, and key investment areas.
Key Takeaways:
- The rising prevalence of hypopituitarism is raising the cases of acromegaly, increasing market revenue.
- Somatostatin analogs as the potent drugs to cure acromegaly to bolster the revenue share.
- Government initiatives and rising R&D activities to create a promising drug pipeline.
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Acromegaly Market Scope
| Report Attribute | Details |
| Market size value in 2022 | US$ 1.56 billion |
| Revenue forecast in 2031 | US$ 3.04 billion |
| Growth Rate | CAGR of 7.7% from 2023 to 2031 |
| Base year for estimation | 2022 |
| Forecast Period | 2023-2031 |
| Historical Year | 2021 |
| Segments covered | Drug Class, Distribution Channel, and Region. |
| Regional scope | North America, Europe, Asia Pacific, and the Rest of the World (ROW) |
Market Drivers:
The rising prevalence of hereditary disorders related to hormonal imbalances, such as hypopituitarism and endocrine disorders, is expected to raise revenue for the global acromegaly market. Additionally, the rising cases of pituitary gland tumors, diabetes, and overuse of steroids result in the overstimulation of the growth hormone, raising the case of acromegaly. Moreover, the robust pharmacological pipeline, introduction of technologically enhanced detection techniques like radiosurgery and radiolabeled imaging, and cost-effectiveness increase the market revenue growth. However, the side effects of the promising drug somatostatin are limiting the market revenue growth to some extent.
Market Segmentation:
Growth plus reports have analyzed the global acromegaly market from perspectives such as drug class, distribution channel, and region.
Drug Class Segmentation:
Based on the drug class, the global acromegaly market is segmented into somatostatin analogs, growth hormone receptor antagonists (GHRA), dopamine agonists, and others.
The somatostatin analogs segment accounts for the largest revenue share of the global acromegaly market. It is the preferred first-line medicinal therapy for treating acromegaly, attributing to the significant rise in revenue share. They ought to be considered a powerful and secure treatment substitute for prolactinomas, gonadotropinomas, and corticotropinomas resistant to dopamine agonists.
Distribution Channel Segmentation:
Based on the distribution channels, the global acromegaly market is segmented into hospital pharmacies, retail pharmacies, and online pharmacies.
The hospital pharmacy segment accounts for the largest revenue share in the global acromegaly market. This large revenue share is attributed to doctors, nurses, and other health care professionals available in the hospitals to provide appropriate medications and supplies according to established treatment protocols in maximizing patient care. Therefore, patients suffering from acromegaly need to be admitted to hospitals for treatment to treat multiple complications related to acromegaly, increasing the segment’s revenue share globally.
Regional Growth Dynamics:
Based on the region, the global acromegaly market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America accounts for the largest revenue share in the global acromegaly market. This significant revenue share is due to the rising incidence of acromegaly and benevolent governmental initiatives in this region. The expansion of key companies in North America and their coordinated efforts to create novel formulations for guaranteed high-quality products is also expected to increase regional revenue growth.
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Competitive Landscape:
The key market players operating in the global acromegaly market are:
- Novartis AG
- Ipsen Pharma
- SUN PHARMACEUTICAL INDUSTRIES LTD.
- Chiasma, Inc.
- Peptron, Inc
- WOCKHARDT
- Dauntless Pharmaceuticals
- Pfizer Inc.
- Ionis Pharmaceuticals, Inc.
- Validus Pharmaceuticals LLC
The global acromegaly market is relatively competitive due to new product releases, mergers, and acquisitions. Furthermore, the market recognized partnerships, acquisitions, and various other types of collaboration as robust growth strategies, increasing the likelihood of revenue growth in the future.
Recent Developments:
- In July 2022, Ionis Pharmaceuticals, Inc. finished the phase II study to evaluate the effectiveness and safety of extended dose of IONIS GHR-LRx in patients with acromegaly as an adjunct to somatostatin receptor ligands (SRL) therapy.
- In November 2021, MYRELEZ (lanreotide), the first generic lanreotide treating acromegaly, grade 1 and grade 2 gastroenteropancreatic neuroendocrine tumors, and symptoms related to neuroendocrine tumors was introduced in Norway by ADVANZ PHARMA, Europe.
Table of Content
- INTRODUCTION
- Market Ecosystem
- Timeline Under Consideration
- Historical Years – 2021
- Base Year – 2022
- Forecast Years – 2023 to 2031
- Currency Used in the Report
- RESEARCH METHODOLOGY
- Research Approach
- Data Collection Methodology
- Data Sources
- Secondary Sources
- Primary Sources
- Market Estimation Approach
- Bottom Up
- Top Down
- Market Forecasting Model
- Limitations and Assumptions
- PREMIUM INSIGHTS
- Current Market Trends (COVID-19 Perspective)
- Key Players & Competitive Positioning (2022)
- Regulatory Landscape
- Reimbursement Scenario
- MARKET DYNAMICS
- Drivers
- Restraints/Challenges
- Opportunities
- GLOBAL ACROMEGALY MARKET – ANALYSIS & FORECAST, BY DRUG CLASS
- Somatostatin Analogs
- Growth Hormone Receptor Antagonist (GHRA)
- Dopamine Agonists
- Others
- GLOBAL ACROMEGALY MARKET – ANALYSIS & FORECAST, BY DISTRIBUTION CHANNEL
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
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VALUE PROPOSITIONS RELATED TO THE REPORT:
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- Comprehensive quantitative and qualitative insights at segment and sub-segment level
- Covid 19 impact trends and perspective
- Granular insights at global/regional/country level
- Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment
- Blanket coverage on competitive landscape
- Winning imperatives
- Exhaustive coverage on ‘Strategic Developments’ registered by leading players of the market
CUSTOMIZATION OPTIONS:
- Distributor Landscape Assessment
- Pricing Intelligence
- Customer Base Assessment
- Investment & Initiatives Analysis
- ‘Business Profile’ of Key Players
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