What Is The Biosimilar Hormones Market Overview In 2022?
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The biosimilar hormones market is forecasted to achieve exponential growth in the coming few years with a forecast CAGR (compound annual growth rate) of more than 28%, as per The Business Research Company’s market report!
Read More On The Biosimilar Hormones Market Report 2022 – https://www.thebusinessresearchcompany.com/report/biosimilar-hormone-global-market-report
The Biosimilar Hormones Market Size In 2022 And Forecast
The global biosimilar hormones market is expected to grow from $1.74 billion in 2021 to $2.31 billion in 2022 at a compound annual growth rate (CAGR) of 32.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, affecting many markets across the globe. The biosimilar hormones market is expected to reach $6.22 billion in 2026 at a CAGR of 28.1%.
The biosimilar hormones market consists of sales of biosimilar hormones by entities that engage in manufacturing biosimilar hormones.
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Prevalence Of Deficiencies In Growth Hormones And Metabolic Hormones Is Driving The Growth Of The Biosimilar Hormones Market
For instance, according to the Italian Journal of Pediatrics, the prevalence of growth hormone deficiency (GHD) in childhood widely varies between 1 out of 3480 and 1 out of 30,000 children annually. In children, the growth hormone can influence bone mineralization and lead to several metabolic effects, including glucose and lipid homeostasis. Annually, about 6,000 adults are diagnosed with growth hormone (GH) deficiency in the USA. The growing need to treat patients with prevailing hormonal deficiencies drives the biosimilar hormones market.
Competitive Landscape And The Regional Analysis Of The Biosimilar Hormones Market
Major players in the biosimilar hormones market are Teva Pharmaceutical, Gedeon Richter, Intas Pharmaceuticals, Biocon, Mylan, Sanofi, Sandoz (Novartis), LG Life Sciences, Ferring Pharmaceuticals, and GC Pharma.
The Biosimilar Hormones Global Market Report 2022 covers regional data on key drivers, opportunities, and strategies for the seven major regions of the world that are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the biosimilar hormones market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The report includes market size and forecast market shares for all the regions and countries with respect to the major players of the biosimilar hormones market.
New Product Launch In Untapped Regions – A Key Trend In The Biosimilar Hormones Market
Key players operating in the biosimilar hormones market are undertaking various strategic initiatives such as new product launches in untapped regions to make the drug accessible to a large population. The companies are focusing on launching their products across various locations to boost sales and maximize profits.
Biosimilar Hormones Market Segmentation By The Business Research Company
1) By Type: Teriparatide Biosimilars, Follitropin Alfa Biosimilars, Insulin Biosimilars, Somatropin Biosimilars, Others
2) By Application: Research and Biotechnology, Diagnostics, Biocatalysts, Therapeutics, Others
3) By Distribution Channel: Hospital and Retail Pharmacy, Online Pharmacy/ePharmacy, Speciality Clinics
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