Global Biosimilar Hormones Market

Biosimilar Hormones Market Report 2024: Market Size, Drivers, And Trends

The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

The biosimilar hormones market has witnessed a remarkable surge in recent years, propelled by various factors contributing to its expansion and innovation:

  • Market size surged from $3.9 billion in 2023 to $4.98 billion in 2024, at a CAGR of 27.5%
  • Historic growth attributed to rising prevalence of chronic diseases, aging population, growing awareness of biosimilar hormones, and expanded healthcare access

A Glimpse into the Future: Projections and Trends

The market is poised for exponential growth in the coming years, with forecasts indicating substantial expansion:

  • Expected to reach $11.77 billion by 2028, with a CAGR of 24.0%
  • Factors driving growth include expanding hormone targets, growing patient acceptance, advances in manufacturing, government support, clinical trial data, and enhanced healthcare access
  • Major trends include personalized hormone replacement, product launches, pricing and access, and patient-centric care

Fueling Demand: The Prevalence of Hormonal Deficiencies

The rising prevalence of deficiencies in growth hormones and metabolic hormones serves as a catalyst for market growth:

  • Treatments for hormone-related conditions evolving over the years
  • Prevalence data highlighting the need:
    • GH deficiency (GHD) in children: 1 in 3500 to 1 in 10000 globally
    • Growth hormone (GH) deficiency in adults: approximately 6,000 cases expected in the USA
  • Growing need to address hormonal deficiencies driving demand for biosimilar hormones

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Key Players Driving Innovation

Major companies spearheading innovations in the biosimilar hormones market include:

  • Teva Pharmaceutical Industries Ltd.
  • Gedeon Richter Plc.
  • Intas Pharmaceuticals Ltd.
  • Biocon Limited
  • Mylan
  • Sanofi
  • Sandoz (Novartis)
  • LG Life Sciences
  • Ferring Pharmaceuticals
  • GC Pharma

Novo Nordisk’s Sogroya Injection: A Paradigm Shift

Novo Nordisk’s groundbreaking Sogroya (somapacitan-beco) injection marks a significant milestone in the market:

  • FDA approval for pediatric use, expanding its indications
  • Sogroya addresses growth hormone deficiency (GHD) in children aged 2.5 years and older
  • The sole once-weekly growth hormone (GH) therapy for both children and adults
  • Approval based on phase 3 REAL4 trial findings, showcasing its efficacy in pediatric patients

Market Segmentation

The biosimilar hormones market is segmented based on various parameters:

  1. By Type:
    • Teriparatide Biosimilars
    • Follitropin Alfa Biosimilars
    • Insulin Biosimilars
    • Somatropin Biosimilars
    • Other Types
  2. By Application:
    • Research & Biotechnology
    • Diagnostics
    • Biocatalysts
    • Therapeutics
    • Other Applications
  3. By Distribution Channel:
    • Hospital And Retail Pharmacy
    • Online Pharmacy/ePharmacy
    • Specialty Clinics

Regional Dynamics: North America Takes the Lead

  • North America emerged as the largest region in the biosimilar hormones market in 2023

As the market continues to evolve and expand, stakeholders are poised to witness unprecedented growth opportunities. With a focus on innovation, accessibility, and patient-centric care, the biosimilar hormones market is set to reshape the landscape of hormonal therapies, offering new avenues for treatment and improving the quality of life for patients worldwide.

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