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This rare disease affects an average of 5-8 people for every 100,000 individuals. Lack of treatment can lead to high chances of morbidity. As a result, there is a high demand for the treatment of acromegaly. Consequences of the disease that often needs further treatment include blood pressure problems, type 2 diabetes and high risk of cardiovascular diseases. Increasing occurrences and diagnoses of hormonal diseases combined with government support toward the treatment of such diseases will likely lead to market growth. Moreover, technological advancements and research & development activities are fuelled by the demand for effective treatment. However, surgeries for treatment of acromegaly are expensive, and the lack of effective treatment for the same is expected to hinder the growth of the acromegaly market.
Acromegaly Market Segmentation
The global acromegaly market is segmented on the basis of diagnosis, types, treatment, and end-users. By types, the market is segmented into acromegaly due to growth hormone, ectopic acromegaly, and others. By diagnosis, the acromegaly market is divided into medical laboratory investigations, medical imaging, and others. The medical imaging segment is sub-segmented to include MRI, radiography, nuclear medicine, ultrasound, and others.
By treatment, the market is categorized into surgery, medication, radiation therapy, and others. The medication segment is sub-segmented into dopamine agonists, somatostatin analogs, growth hormone receptor antagonists, and others. The surgery segment is sub-segmented to include transsphenoidal surgery and endonasal transsphenoidal surgery. By end-users, the market is comprised of clinics, hospitals, and others.
Acromegaly Market Regional Analysis
Geography-wise, the global acromegaly market comprises the Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA).
The Americas is expected to be the dominating region of the acromegaly market due to the increasing prevalence of the hormonal disorder. Rising number of incidents as well as expendable income levels of patients can fuel the regional market growth. Presence of pharmaceutical majors, government support for research and development, and extended healthcare expenditure are other drivers in the region. Approval of bills which outline the procurement of unproven drugs and vaccines by patients for the treatment of orphan or rare diseases.
The Europe market is driven by increasing investments in research and development centers and rising government support. The inflated healthcare expenditure
APAC is touted to exhibit the highest growth rate during the forecast timespan due to rising prevalence of hormonal disorders, developing healthcare sector, and a large patient pool. China and India can contribute to the market revenue due to hiring of skilled personnel capable of providing treatment for the hormonal disorder as well as availability of drugs in the region.
Lastly, the MEA region can exhibit a sluggish growth rate due to low awareness levels and limited availability of suitable drugs.
Acromegaly Market Competitive Outlook
Amryt Pharma plc, Strongbridge Biopharma plc, Silence Therapeutics Plc, Glide Pharmaceutical Technologies Ltd, Peptron Inc, Ipsen SA, Chiasma Inc, Aegis Therapeutics LLC, Novartis AG, Foresee Pharmaceuticals LLC, Crinetics Pharmaceuticals Inc, Daewoong Pharmaceutical Co Ltd, and Ionis Pharmaceuticals Inc are some of the prominent pharmaceutical manufacturers in the market.
Distribution agreements, partnerships, novel product development, and expansions are strategies implemented by these players to gain leverage in the acromegaly market.
Industry News
In 2019, Recordati acquired three drugs produced by Novartis meant for treating acromegaly and Cushing’s disease. Drugs include Signifor, Signifor LAR, and osilodrostat which can inhibit excessive levels of the growth hormone. The sales of these drugs can mean a banner year for the Italian pharmaceutical as it faces no threats from generic versions of its drugs.
Acromegaly Market Key Players
Glide Pharmaceutical Technologies Ltd, Chiasma Inc, Ionis Pharmaceuticals Inc, Aegis Therapeutics LLC, Strongbridge Biopharma plc, Foresee Pharmaceuticals LLC, Daewoong Pharmaceutical Co Ltd, Ipsen SA, Novartis AG, Amryt Pharma plc, Crinetics Pharmaceuticals Inc, Silence Therapeutics Plc, and Peptron Inc are some of the leading market players which participate in the global acromegaly market.
BRIEF TOC
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.1 Definition
2.2 Scope of the Study
2.2.1 Research Objective
2.2.2 Assumptions
2.2.3 Limitations
Chapter 3. Research Methodology
3.1 Introduction
3.2 Primary Research
3.3 Secondary research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
4.1 Drivers
4.2 Restrains
4.3 Opportunities
4.4 Challenges
4.5 Macroeconomic Indicators
4.6 Technology Trends & Assessment
Chapter 5. Market Factor Analysis
5.1 Porters Five Forces Analysis
5.1.1 Bargaining Power of Suppliers
5.1.2 Bargaining Power of Buyers
5.1.3 Threat of New Entrants
5.1.4 Threat of Substitutes
5.1.5 Intensity of Rivalry
5.2 Value Chain Analysis
5.3 Investment Feasibility Analysis
5.4 Pricing Analysis
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