19-Mar-2020: The global acromegaly treatment
market size is
expected to reach USD 2.10 billion by 2025, according to a new report by Grand
View Research, Inc. It is anticipated to register a CAGR of 7.5% over the
forecast period. Increasing incidence of the acromegaly disease is expected to
drive the growth. For instance, the disease prevalence increased fourfold in
2015 from its previous year 2014, according to a report by the Endocrine
Society. Moreover, growing investment in clinical trials by various
pharmaceutical companies to develop new molecules is another factor propelling
the market growth.
Furthermore, strong
pipeline of drugs is anticipated to create growth opportunities in the
forthcoming years. For instance, Mycapssa by Chiasma Inc. received approval in
Europe in 2016. In 2018, Antisense Therapeutics launched their new formulation
ALT1103 in U.S. ISIS 766720 by Ionis Pharmaceuticals Inc., a growth hormone
receptor antagonist is currently under phase II clinical trial and is expected
to be finished by December 2019.
The strong pipeline
of drugs for somatostatin analogs is expected to propel growth of the
acromegaly treatment market in near future. For instance, in 2018 around 30
clinical trials were being conducted in North America and many are waiting for
the U.S. Food and Drug Administration (FDA) approval.
In
depth research report on Acromegaly Treatment Market
Further key findings from the report suggest:
·
Somatostatin analogs segment is expected to emerge as the
largest product segment in terms of revenue share in the forthcoming years,
owing to easy availability and cost-effective treatment procedure of the
product
·
Hospital and clinics end use segment accounted for the
largest market share as all the surgical procedures are performed in these
facilities. Easy availability of surgeons Is anticipated to further drive the
segment
·
North America held the dominant market share in 2018, due to
favorable government insurance policies and increased investment in R&D by
the pharmaceutical companies. For instance, In May 2018, U.S. Congress approved
the Right to Try bill, wherein patients can try unproven medical therapeutics
in case of serious illness including orphan diseases like acromegaly
·
Asia Pacific acromegaly treatment market is anticipated to
witness lucrative growth in near future due to rising healthcare expenditure
and R&D initiatives by pharmaceutical companies
·
Some of the key players are Novartis AG; Ipsen Pharma; Pfizer
Inc.; and Chiasma Inc.
Grand View Research
has segmented the global acromegaly treatment market on the basis of product,
end use and region:
Acromegaly Treatment Product Outlook (Revenue, USD Million,
2014 - 2025)
·
Somatostatin Analogs
·
GHRA
·
Others
Acromegaly Treatment End Use Outlook (Revenue, USD Million,
2014 - 2025)
·
Hospitals & Clinics
·
Others
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more research reports of this category:
About
Grand View Research
Grand View Research, Inc. is the
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
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