Global Biosimilar Growth Hormones Market

Global Biosimilar Growth Hormones Market Report 2024 – Top Market Trends And Opportunities

The Business Research Company’s market reports offer an in-depth analysis on the market’s growth potential, major drivers, key trends and more.

Market Expansion and Projections

  • The biosimilar growth hormones market has experienced significant growth in recent years.
  • From $0.76 billion in 2023, it is forecasted to reach $0.82 billion in 2024, boasting a CAGR of 8.4%.
  • Factors contributing to historic growth include rising demand, patent expirations, and clinical advancements.

Forecasted Growth and Catalysts

  • Anticipated expansion to $1.19 billion by 2028, with a CAGR of 9.8%.
  • Drivers include pediatric growth disorders, expanded indications, and heightened awareness of biosimilar options.
  • Emerging trends focus on pediatric biosimilars, dosing convenience, and innovative combinations.

Childhood Growth Hormone Deficiency Drives Market Demand

  • The rising incidence of childhood growth hormone deficiency propels market growth.
  • Causes include damage to the pituitary gland or hypothalamus, leading to congenital or acquired deficiency.
  • Identified in about 1 in every 3,800 babies, with various acquired causes later in life.

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Technological Advancements in Production

  • Recombinant DNA technology (rDNA technology) transforms biosimilar growth hormone production.
  • Pfizer’s Phase III trial for somatropin in Prader-Willi Syndrome exemplifies rDNA technology’s application.
  • Advancements enhance affordability and efficacy of biosimilar growth hormones.

Strategic Acquisition Reinforces Innovation

  • Amgen’s acquisition of Horizon Therapeutics for $27.8 billion enhances patient care and innovation.
  • Horizon’s portfolio includes medications addressing thyroid eye disease, chronic refractory gout, and neuromyelitis optica spectrum disorder.
  • Acquisition accelerates revenue growth and supports future innovation endeavors.

Market Segmentation

  • Route of Administration: Intravenous, Subcutaneous, Intramuscular, Oral
  • Application: Growth Hormone Deficiency, Turner Syndrome, Idiopathic Short Stature, Prader Willi Syndrome, Other Applications
  • Distribution Channel: Hospital And Retail Pharmacy, Online Pharmacy/ePharmacy, Specialty Clinics

Regional Dynamics

  • North America led the biosimilar growth hormones market in 2023.
  • The Middle East is poised to be the fastest-growing region during the forecast period.

In conclusion, the biosimilar growth hormones market demonstrates significant growth potential driven by technological advancements, rising pediatric growth disorders, and strategic acquisitions. As recombinant DNA technology revolutionizes production processes, biosimilar growth hormones become more accessible and effective. Moreover, strategic acquisitions bolster innovation and patient care, signaling a dynamic landscape poised for expansion. The market’s segmentation and regional dynamics underscore its adaptability to diverse healthcare needs, promising improved treatment options for patients worldwide.

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