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How Rapidly is the Biosimilar Hormones Market Expected to Expand Between 2025 and 2034 Based on Current Trends?

In recent years, the size of the biosimilar hormones market has seen exponential expansion. We foresee an increase from $3.9 billion in 2024 to $4.98 billion in 2025, marking a compound annual growth rate (CAGR) of 27.5%. The notable growth observed in the historical period is linked to factors such as the escalating occurrence of chronic illnesses, an increasing aging population, heightened awareness of biosimilar hormones, and broader access to healthcare services.

The market size of biosimilar hormones is predicted to witness significant surge in the near future, reaching $11.77 billion in 2029 with a compound annual growth rate (CAGR) of 24.0%. Factors contributing to this projected growth during the forecast period include increased hormone targets, enhanced patient approval, progression in production technology, governmental backing, abundant clinical trial findings, and extensive access to healthcare facilities. Key trends projected in the forecast period encompass individualized hormone replacement, introduction of new products, pricing and accessibility, and patient-focused care.

What Drivers Are Shaping the Growth of the Biosimilar Hormones Market?

The hormone biosimilar market is impacting the prevalence of growth hormone and metabolic hormone deficiencies. Over time, the treatments for hormone-related issues have developed and advanced, increasing the demand for hormone biosimilar due to the prevalent hormonal deficiencies. For example, as cited in the British Medical Journal, a UK-based peer-reviewed medical trade publication, in January 2022, the GH deficiency’s prevalence is speculated to oscillate between 1 in every 3500 and 1 in 10000 children worldwide. Furthermore, a Medscape report from June 2022 anticipates that approximately 6,000 adults in the USA will be diagnosed with a growth hormone deficiency. This escalating demand to address patients with prevailing hormone deficiencies is serving as a catalyst for the growth of the biosimilar hormones market.

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Which Key Players Are Shaping the Future of the Biosimilar Hormones Market?

Major companies operating in the biosimilar hormones market include Teva Pharmaceutical Industries Ltd., Gedeon Richter Plc., Intas Pharmaceuticals Ltd., Biocon Limited, Mylan, Sanofi, Sandoz Group AG, LG Life Sciences, Ferring Pharmaceuticals, GC Pharma, Pfizer Inc., Dr. Reddy’s Laboratories, Amgen Inc., Eli Lilly and Company, Celltrion Inc., Samsungbioepis Co.Ltd, Merck & Co., Biogen Inc., Boehringer Ingelheim, Alvotech, BioXpress Therapeutics, Cipla Limited, Lupin Ltd., Stada Arzneimittel AG, Torrent Pharmaceuticals, Zydus Cadila, Accord Healthcare, Hetero Drugs, Wockhardt

Which Cutting-Edge Trends Are Expected to Drive the Biosimilar Hormones Market’s Growth?

Major players in the biosimilar hormones market are utilizing strategic methods like launching novel products in untapped regions to extend their reach and serve a more extensive populace. Their main aim is to enhance sales and increase earning profits by making their products accessible in diverse locations. For example, Alvotech Holdings S.A., a biopharmaceutical firm based in Luxembourg that concentrates on biosimilar medicines development, announced collaborations with Fuji Pharma Co. Ltd., a pharmaceutical firm from Japan, for the development of biosimilar drug candidates in Japan in February 2022. In this collaboration, both firms have opted to introduce new aspects in their strategic alliance to create and promote biosimilar medicines in Japan.

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Which Market Segments Are Driving Strategic Growth and Trends in the Biosimilar Hormones Market?

The biosimilar hormones market covered in this report is segmented –

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/pharmacy, Specialty Clinics

Subsegments:

1) By Teriparatide Biosimilars: Osteoporosis Treatment, Bone Health Maintenance

2) By Follitropin Alfa Biosimilars: Infertility Treatment, Assisted Reproductive Technology (ART)

3) By Insulin Biosimilars: Type 1 Diabetes Management, Type 2 Diabetes Management

4) By Somatropin Biosimilars: Growth Hormone Deficiency Treatment, Pediatric Growth Disorders

5) By Other Types: Thyroid Hormones, Corticosteroids

What Regions Are At the Forefront of Biosimilar Hormones Market Expansion?

The countries covered in the biosimilar hormones market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

How Can We Define the Biosimilar Hormones Market and Its Key Components?

Biosimilar hormones refer to the hormones included in the product that are chemically identical to those produced by your body. The hormones in bioidentical drugs may be identical to those used in conventional hormone therapy. They are used to treat people whose hormone levels are low or out of whack.

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