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:
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.
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.
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.
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.