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| Somatropin Market |
The somatropin market comprises of human growth hormones that are widely used for the treatment of growth hormone deficiency and other indications such as Turner syndrome and Prader-Willi syndrome. Somatropin finds widespread application in pediatric and adult growth hormone deficiencies due to its role in promoting bodily growth and development. It contains recombinant DNA technology to biosynthetically produce the identical sequence of amino acids that are found in natural human growth hormone.
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 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 market has witnessed significant growth
in the past few years owing to increasing adoption of recombinant human growth
hormone for the treatment of growth hormone deficiency. Growth hormone
deficiency has become more prevalent majorly due to decreasing fertility rates
and modern lifestyle. As a result, the demand for somatropin drugs is growing
substantially across North America, Europe, and Asia Pacific.
Some of the major players in the industry are focusing on geographical
expansion through mergers, acquisitions, partnerships and collaborations to
strengthen their Somatropin
Market Trends position. For instance, in 2021, Novo Nordisk acquired
Corcept Therapeutics' commercial operations in Australia to expand its reach in
the Australian pharmaceutical market. The shift towards biosimilars is also
anticipated to offer lucrative opportunities for Somatropin manufacturers in
the forecast period.
The key trend gaining momentum in the somatropin market is the shift from daily
injections to weekly, bi-weekly or monthly administration through longer-acting
formulations. The development of formulations such as somatropin depot has
provided more flexibility and convenience to patients. It has led to improved
treatment outcomes through better drug adherence. Manufacturers are investing
heavily in R&D to develop therapies with enhanced delivery systems for
superior efficacy and safety. This shift towards novel drug delivery mechanisms
is expected to define the future growth trajectories of the global somatropin
market.
Porter's Analysis
Threat of new entrants: New competitors will face high entry barriers of
biotechnology and regulatory compliance costs.
Bargaining power of buyers: Buyers have moderate bargaining power as somatropin
is a patented drug with no close substitutes and patients depend on these
treatments.
Bargaining power of suppliers: Suppliers have moderate bargaining power as
there are few players that can produce the active ingredient and drug substance.
Threat of new substitutes: There is no close substitute available for treating
growth hormone deficiency and other approved indications.
Competitive rivalry: Competition is high among the major players to gain higher
market share through new product launches and strategic collaboration.
Geographical Regions
North America region holds the major share of the global somatropin market due
to high healthcare expenditure and growing prevalence of growth hormone
deficiency and other approved indications.
Asia Pacific region is expected to witness the fastest growth during the
forecast period considering factors like increasing healthcare spending,
growing awareness about growth disorders, and rising geriatric population.
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