The somatropin market comprises recombinant human growth hormones that are used for the long-term treatment of growth failure in children and growth hormone deficiency in adults and transitional period of adolescence. Somatropin stimulates protein synthesis, insulin-like growth factor-1 secretion, cell reproduction and regeneration, and bone and muscle growth. It helps promote the growth and development of bones and muscles and maintains normal body composition. As the number of children and adults with growth hormone deficiency is increasing worldwide, there is a growing demand for somatropin for their treatment.
The Global somatropin market is estimated to be valued at US$ 4.44 Bn in 2024 and is expected to exhibit a CAGR of 5.0% over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the somatropin market are Bausch Health Companies Inc., Cheplapharm Arzneimittel, Novartis AG, Novelion Therapeutics Inc., Ciba Corporation, and LGM Pharma, LLC.
The Somatropin Market Demand offers growth opportunities in terms of new product approvals and launches. For instance, in 2021, Novo Nordisk received FDA approval for Esperoct, a new long-acting recombinant human growth hormone.
Manufacturers are expanding their presence globally, especially in developing regions, to tap the growth potential. For instance, ViroMed entered the Brazilian market in 2020 to distribute somatropin.
Market Drivers
The rising incidence of growth hormone deficiency worldwide due to genetic disorders, brain or spinal cord injuries, and tumors is a major factor fueling the demand for somatropin treatment. It is estimated that one in 4000 children has growth hormone deficiency.
Growing awareness about growth hormone replacement therapy for adulthood growth hormone deficiency is another key driver. Somatropin Market Size And Trends Adults with growth hormone deficiency often experience an increased rate of comorbidities like fractures, cardiovascular diseases, obesity, and diabetes, which can be managed with somatropin treatment.
PEST Analysis
Political: The regulatory landscape related to somatropin market is evolving. There are various regulations regarding the approval and use of recombinant human growth hormone therapy. Any changes in the existing regulations can impact the somatropin market.
Economic: The overall economic growth and increase in healthcare expenditure positively impacts the somatropin market. Increase in disposable income increases the access to recombinant human growth hormone therapies.
Social: Growing acceptance of recombinant human growth hormone therapy for various therapeutic indications is driving the somatropin market. Increased diagnosis of growth hormone deficiency and other relevant conditions also support the market growth.
Technological: Advancements in manufacturing technologies help improving the production process and capacity of somatropin. Development of more effective drug delivery systems is further extending the therapeutic benefits of somatropin.
The somatropin market in terms of value is concentrated majorly in North America and Europe. North America dominates the overall somatropin market owing to established healthcare infrastructure and higher diagnosis rates of endocrine disorders. Europe is the second largest regional market due to growing adoption of growth hormone therapies across the region.
The Asia Pacific region is anticipated to experience fastest growth over the forecast period in the global somatropin market. Factors such as rising healthcare spending, increasing awareness about growth hormone therapies, and large patient population base will drive the APAC
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1. Source: Coherent Market Insights, Public Source, Desk Research
2. We have leveraged AI tools to mine information and compile it