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Press Release: Somatropin Market to Surpass US$ 8.56 Billion by 2027
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Somatropin is a recombinant human growth hormone indicated for the treatment of growth hormone deficiency in children and adults, as well as Turner syndrome, Prader-Willi syndrome, Chronic Renal Insufficiency (chronic kidney disorder), and others. Somatropin stimulates linear growth (height), tissue growth, and lipid, protein, carbohydrate, and mineral metabolism.
The global somatropin market is estimated to be valued at US$ 5.02 billion in 2020 and is expected to exhibit a CAGR of 7.9% during the forecast period (2020-2027).
Figure 1. Global Somatropin Market Share (%) in Terms of Value, By Region, 2019
The increasing prevalence of growth hormone deficiency is expected to propel the market growth during the forecast period.
The increasing prevalence of growth hormone deficiency is expected to drive the global somatropin market growth during the forecast period. According to an article published in the Springer Nature journal in February 2017, the prevalence of growth hormone deficiency in children is within the range 1.8 to 2.9 per 10,000 in Europe and the U.S.
Figure 2. Global Somatropin Market Share (%), by Distribution Channel, 2020
Increasing approvals of somatropin products by regulatory authorities is expected to drive the market growth during the forecast period
Approvals of various somatropin products by regulatory authorities such as the U.S. Food and Drug Administration (FDA) are expected to drive the market growth during the forecast period. For instance, in July 2018, Ferring Pharmaceuticals Inc. received approval from the U.S. Food and Drug Administration for ZOMACTON, a somatropin injection, for the following additional pediatric indications:
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2019 | Market Size in 2019: | US$ 5.02 Bn |
| Historical Data for: | 2016 to 2019 | Forecast Period: | 2020 to 2027 |
| Forecast Period 2020 to 2027 CAGR: | 7.9% | 2027 Value Projection: | US$ 8.56 Bn |
| Geographies covered: |
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| Segments covered: |
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| Companies covered: |
Novo Nordisk A/S, Pfizer, Inc., Eli Lilly and Company, GeneScience Pharmaceuticals, Sandoz International, Ipsen Inc., LG Life Sciences, Merck KGaA, F. Hoffmann-La Roche, Teva Pharmaceutical Industries Ltd., and Ferring Pharmaceuticals |
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| Restraints & Challenges: |
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Global Somatropin Market – Impact of Coronavirus (Covid-19) Pandemic
The COVID-19 pandemic is affecting clinical trials drastically. According to a survey conducted by Medidata Solutions, Inc. (an American technology company which develops and markets software as a service for clinical trials), on April 23, 2020, 63% of survey respondents reported that they have stopped recruiting new patients for ongoing clinical trials and 43% of the respondents have postponed their studies.
Furthermore, ongoing clinical trials need to be conducted by healthcare facilities and researchers by adhering to the following safety measures:
Global Somatropin Market: Restraint
Key players are focused on developing advanced alternative treatments for growth hormone deficiency, which is expected to hinder growth of the Europe somatropin market. For instance, in October 2019, OPKO Health Inc. and Pfizer Inc. announced the results of phase 3 clinical trial, which was initiated to evaluate the safety and efficacy of somatrogen, a long-acting human growth hormone (hGH) molecule administered once in a week in pre-pubertal children with growth hormone deficiency (GHD).
Key Players
Major players operating in global somatropin market are Novo Nordisk A/S, Pfizer, Inc., Eli Lilly and Company, GeneScience Pharmaceuticals, Sandoz International, Ipsen Inc., LG Life Sciences, Merck KGaA, F. Hoffmann-La Roche, Teva Pharmaceutical Industries Ltd., and Ferring Pharmaceuticals.
The increasing prevalence of growth hormone deficiency due to traumatic brain injuries is expected to propel the growth of the global somatropin market during the forecast period. According to an article published in the International Journal of Molecular Sciences in July 2019, growth hormone deficiency is the most common hormone deficiency in long term survivors of traumatic brain injury.
Market Dynamics
Market players are focusing on adopting various inorganic growth strategies such as agreements and acquisitions to strengthen their market presence and enhance their product portfolio. This is expected to drive growth of the global somatropin market during the forecast period. For instance, in October 2017, Ferring Pharmaceuticals entered a definitive agreement with Antares Pharma, Inc. to acquire the rights for the ZomaJet needle-free auto injector device.
Furthermore, research and development activities by key players are expected to propel the growth of global somatropin market during the forecast period. For instance, March 2017, GeneScience Pharmaceuticals Co., Ltd. initiated a phase 4 clinical trial to evaluate the safety and efficacy of PEG-Somatropin for the treatment of pediatric patients with growth hormone deficiency.
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section.
*Browse 27 market data tables and 26 figures on "Somatropin Market” - Global forecast to 2027
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