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#How Has the Biosimilar Growth Hormones Market Growth Performance Trended Historically, And What Lies Ahead?
In the past few years, there has been substantial growth in the market size of biosimilar growth hormones. Projected growth over the next year sees the market rising from $0.76 billion in 2024 to $0.82 billion in 2025, reflecting a compound annual growth rate (CAGR) of 8.4%. Factors such as increased demand for growth hormones, the expiration of patents, supporting clinical evidence, and an escalated number of clinical trials account for the growth observed during the historical period.
What Is the Forecast for the Biosimilar Growth Hormones Market Size Through 2029?
In the coming years, the biosimilar growth hormones market is anticipated to witness robust growth, expanding to $1.19 billion in 2029 at a compound annual growth rate (CAGR) of 9.8%. Several factors such as pediatric growth disorders, broader indications, rising diagnosis rates, and heightened awareness of biosimilar alternatives contribute to this growth during the forecast period. The forecast period will also see major trends like an emphasis on pediatric-centric biosimilars, the advent of biosimilar combinations, and improvements in dosing convenience.
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What are the Key Market Players in Biosimilar Growth Hormones Market and How They’re Evolving?
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
What Are the Primary Growth Drivers in the Biosimilar Growth Hormones Market?
The escalation in the global biosimilar growth hormone market is being fueled by the increasing incidences of growth hormone deficiencies in children. This deficiency stems from damage to either the pituitary gland or hypothalamus, as a result of abnormalities that may have taken place either prior to the child’s birth (congenital) or during or post birth (acquired). For example, September 2023 data from Hormones Australia by the Endocrine Society of Australia (ESA) – a leading Australian authority on endocrine-related conditions and diseases, assessed that there are 2 to 3 individuals out of every 10,000, suffering from growth hormone deficiency. Consequently, this surge in children diagnosed with growth hormone deficiencies is propelling the expansion of the biosimilar growth hormone sector.
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What Are the Leading Segments in the Global Biosimilar Growth Hormones Industry?
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
What Are the Key Market Trends in the Biosimilar Growth Hormones Industry?
Key players in the biosimilar growth hormones market, such as the pharmaceutical companies Pfizer Inc. and OPKO Health Inc., are innovating solutions like human growth hormone to increase both treatment effectiveness and affordability for growth hormone deficiencies. These solutions are aimed towards medical treatments or supplements that are intended to stimulate or substitute the production of human growth hormone (HGH) in the body, either to treat growth deficiencies or for anti-aging. To illustrate, in June 2023, both Pfizer Inc. and OPKO Health Inc. received approval from the US Food and Drug Administration (FDA) for NGENLA (somatrogon-ghla), a weekly injectable treatment for pediatric patients with growth hormone deficiency (GHD). This long-lasting therapy provides an alternative to daily injections, enhancing ease and compliance for both patients and caregivers. Its approval was granted on the basis of clinical trials that verified both its effectiveness and safety, signifying a major progress in growth hormone treatments.
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What Is the Regional Outlook for 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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This Report Delivers Insight On:
1. How big is the biosimilar growth hormones market, and how is it changing globally?
2. Who are the major companies in the biosimilar growth hormones market, and how are they performing?
3. What are the key opportunities and risks in the biosimilar growth hormones market right now?
4. Which products or customer segments are growing the most in the biosimilar growth hormones market?
5. What factors are helping or slowing down the growth of the biosimilar growth hormones market?
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