The expansion of the worldwide somatropin market is anticipated to be driven by the growing long-term effects of growth hormone therapy on children with growth hormone insufficiency. For instance, a study was conducted among 252 short kids with growth hormone deficiency, 63 kids with idiopathic short stature, 26 kids with small for gestational age, and 9 kids with Turner syndrome who were treated with growth hormone in 2018 at the King Abdullah International Medical Research Center in Jeddah, Saudi Arabia, according to data published in the Journal Acta Biomedica. Over the projected period, the worldwide somatropin market is anticipated to develop as a result of product approval from regulatory bodies like ANVISA (National Sanitary Surveillance Agency) for medications containing somatropin.
Global Somatropin Market is estimated to be valued at US$ 3.6 Bn in 2022 and is expected to exhibit a CAGR of 7.2% over the forecast period (2022-2030).
Key Leaders in the Somatropin Industry:
1. Novo Nordisk AS
Novo Nordisk A/S, a healthcare company, engages in the research, development, manufacture, and marketing of pharmaceutical products worldwide. The company was founded in 1923 and is headquartered in Bagsvaerd, Denmark. Novo Nordisk today announced that the acquisition of Forma Therapeutics Holdings, Inc. (Forma), announced on 1 September 2022, has been completed.
2. Eli Lilly and Company
Eli Lilly and Company discovers, develops, and markets human pharmaceuticals worldwide. Eli Lilly and Company was founded in 1876 and is headquartered in Indianapolis, Indiana.
3. Pfizer Inc.
Pfizer Inc. discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. Pfizer Inc. was founded in 1849 and is headquartered in New York, New York. The company has collaboration agreements with Bristol-Myers Squibb Company; Astellas Pharma US, Inc.; Myovant Sciences Ltd.; Akcea Therapeutics, Inc; Merck KGaA; Valneva SE; BioNTech SE; and Arvinas, Inc. on December 2022, Pfizer Presents Updated Favorable Elranatamab Data from Pivotal Phase 2 MagnetisMM-3 Trial, early and deep responses, and a manageable safety profile for elranatamab in heavily pretreated patients with advanced multiple myeloma.
4. LG Chem Power, Inc.
Founded in 2000, LG Chem Power, Inc. (LGCPI), a subsidiary of LG Chem, Ltd., is bringing the power of Lithium-Ion Polymer Battery Technology to North America for Hybrid Electric Vehicle (HEV), Plug-In Electric Vehicle (PHEV), Electric Vehicle (EV), and stationary power applications in the automotive, commercial, and military markets. The company has headquarters situated in Troy, MI.
5. Merck KGaA.
Merck & Co., Inc. operates as a healthcare company worldwide. It operates through two segments, Pharmaceutical and Animal Health. Merck & Co., Inc. was founded in 1891 and is headquartered in Kenilworth, New Jersey.
6. Genentech, Inc.
Founded in 1976, Genentech is a biotechnology company that discovers, develops, manufactures, and commercializes medicines to treat patients. The company has headquarters in South San Francisco, California.
7. Ferring B.V.
Frederik and Eva Paulsen founded the company in the 1950s. It has headquarters situated in Saint-Prex, Switzerland. In June, 2022, the biopharmaceutical company Ferring B.V. announced a strategic partnership with the innovation-focused global biopharma company I-MAB Biopharma Co., Ltd. to advance the development of olamkicept, a selective interleukin-6 (IL-6) trans-signaling inhibitor for inflammatory bowel disease (IBD) and associated inflammatory conditions.
8. Ipsen Pharma
Ipsen S.A. operates as a biopharmaceutical company worldwide. The company was founded in 1929 and is headquartered in Boulogne-Billancourt, France. The company provides drugs in the areas of oncology, neuroscience, gastroenterology, cognitive disorders, and rare diseases. On, August 01, 2016 Ipsen Biopharmaceuticals, Inc announced that the U.S. Food and Drug Administration (FDA) has approved its supplemental Biologics License Application for Dysport® for injection for the treatment of lower limb spasticity in pediatric patients two years of age and older.
9. JCR Pharmaceuticals Co., Ltd.
JCR Pharmaceuticals Co., Ltd., a specialty pharmaceuticals company, engages in the research, development, manufacture, import and export, and sale of pharmaceutical products, regenerative medicines, and drug substances in Japan. JCR Pharmaceuticals Co., Ltd. was incorporated in 1975 and is headquartered in Ashiya, Japan.
10. Sandoz International GmbH
Founded in 1886, Sandoz International develops, manufactures, and markets generic pharmaceutical products to customers. It has headquarters situated in Bayern, Germany.
*Definition- Recombinant human growth hormone known as somatropin is used to treat a variety of conditions, including chronic kidney disease, Turner syndrome, Prader-Willi syndrome, and growth hormone insufficiency in both children and adults.
