How the Biosimilar Growth Hormones Market Will Grow: Key Trends, Market Size, and Opportunities Beyond 2025
2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!
What Industry-Specific Factors Are Fueling the Growth of theBiosimilar Growth Hormones Market?
The rising number of children suffering from growth hormone deficiencies is fueling the growth of the global biosimilar growth hormone market. Growth hormone deficiency can be congenital or acquired, and it is estimated to affect 2 to 3 out of every 10,000 children, as reported by Hormones Australia in September 2023. This increasing prevalence is driving market growth.
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#How Does the ProjectedBiosimilar Growth Hormones Market Growth Compare Over the Forecast Period?
The biosimilar growth hormones market size has grown strongly in recent years. It will grow from $0.76 billion in 2024 to $0.82 billion in 2025 at a compound annual growth rate (CAGR) of 8.4%. The growth is due to rising demand for growth hormones, patent expirations for brand-name drugs, increasing clinical trials, and strong clinical evidence supporting their efficacy.
The biosimilar growth hormones market is projected to grow to $1.19 billion by 2029, with a CAGR of 9.8%. Growth drivers include pediatric growth disorders, expanding indications, increased diagnoses, and heightened awareness of biosimilar options. Trends in this market include pediatric-focused biosimilars, biosimilar combinations, and convenient dosing options.
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How Are Consumer Market Innovations Shaping the Current and Future Landscape of theBiosimilar Growth Hormones Market?
Leading companies in the biosimilar growth hormones market are introducing innovative products like human growth hormone to improve the effectiveness and affordability of treatments for growth hormone deficiencies. These solutions are intended to either stimulate or replace human growth hormone (HGH) for addressing deficiencies or age-related concerns. For example, in June 2023, Pfizer Inc., a U.S.-based pharmaceutical firm, and OPKO Health Inc., a U.S.-based healthcare company, obtained FDA approval for NGENLA (somatrogon-ghla), a weekly injectable HGH therapy for pediatric patients with growth hormone deficiency (GHD). This long-acting hormone therapy offers an alternative to daily injections, potentially enhancing treatment adherence and ease of use for both patients and caregivers. The approval was granted following clinical trials confirming its safety and efficacy, marking a significant step forward in HGH therapy.
Which Companies Are Leading the Charge in Expanding theBiosimilar Growth Hormones Market Growth?
Major companies operating in the biosimilar growth hormones market include Amega Biotech, Biosidus S.A., Eli Lilly and Company, Ferring Pharmaceuticals, Genetech Inc., Merck & Co. Inc., Novartis AG, Novo Nordisk A/S, Sanofi S.A., USV Private Limited, Zhongshan Hygene Biopharm Co. Ltd., Biopartners And LG Chem, Boehringer Ingelheim International GmbH, Celltrion Inc., Dr. Reddy’s Laboratories Ltd., Gedeon Richter Plc., Genor Biopharma Co. Ltd., Hetero Drugs Limited, Intas Pharmaceuticals Ltd., LG Chem Ltd., Lupin Limited, Mabion S.A., Mundipharma International Limited, Panacea Biotec Limited, Pfenex Inc., PlantForm Corporation
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How is the Global Biosimilar Growth Hormones Market Segemented?
The biosimilar growth hormones market covered in this report is segmented –
1) By Route Of Administration: Intravenous, Subcutaneous, Intramuscular, Oral
2) By Application: Growth Hormone Deficiency, Turner Syndrome, Idiopathic Short Stature, Prader Willi Syndrome, Other Applications
3) By Distribution Channel: Hospital And Retail Pharmacy, Online Pharmacy/ePharmacy, Specialty Clinics
Subsegments:
1) By Intravenous: Hospital-based Administration, Outpatient Clinics
2) By Subcutaneous: Self-administration, Professional Administration
3) By Intramuscular: Pediatric Care, Adult Care
4) By Oral: Tablets, Capsules
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Which Geographics are Influencing the Growth of the Biosimilar Growth Hormones Market?
The countries covered in the biosimilar growth hormones market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
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