Global Somatropin Market, By Dosage Form (Powder and Solvent), By Application (Growth Hormone Deficiency (GHD), Turner Syndrome, Chronic Renal Insufficiency, Prader Willi Syndrome, Small for Gestational Age, SHOX Deficiency, and Others), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), 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), as highlighted in a new report published by Coherent Market Insights.
The increasing prevalence of growth hormone deficiency due to trauma and brain injuries is expected to drive the growth of the global somatropin market during the forecast period. According to a study published in the International Journal of Molecular Sciences in July 2019, growth hormone deficiency is one of the most common pituitary hormone deficits observed in long term survivors of traumatic brain injury (TBI). The prevalence of acute growth hormone deficiency within one month of traumatic brain injury is around 2 to 30%. According to the same source, growth hormone deficiency is the most common pituitary hormone deficiency found in the chronic phase of traumatic brain injury (TBI) and ranges between 10% and 63.6%.
Global Somatropin Market – Impact of Coronavirus (Covid-19) Pandemic
Following the outbreak of COVID-19 in December 2019, the disease has spread to over 100 countries across the globe with the World Health Organization declaring it a public health emergency. According to the World Health Organization’s report, the manifestation of coronavirus (COVID-19) has resulted in more than 5 million infected individuals worldwide as of June 2020.
COVID-19 can affect the economy in three main ways; 1) By directly affecting the production and demand; 2) By creating disruptions in distribution channels; and 3) By its financial impact on firms and financial markets. Supply chain and manufacturing activities in India, China, and the U.S. are being disrupted due to global lockdowns while many countries such as Saudi Arabia, UAE, Egypt, and others are facing problems with regards to transportation of drugs from one place to another.
Browse 27 Market Data Tables and 26 Figures spread through 201 Pages and in-depth TOC on “Somatropin Market”- Global Forecast to 2027, Global Somatropin Market, By Dosage Form (Powder and Solvent), By Application (Growth Hormone Deficiency (GHD), Turner Syndrome, Chronic Renal Insufficiency, Prader Willi Syndrome, Small for Gestational Age, SHOX Deficiency, and Others), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa).
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Research institutes and market players are collaboratively conducting clinical trials for somatropin products which is expected to propel the market growth during the forecast period. For instance, in July 2019, Nemours Children's Clinic and Novo Nordisk A/S initiated an observational study to evaluate the functional effects of the recombinant growth hormone (somatropin) in short prepubertal boys with either idiopathic short stature or growth hormone deficiency.
Key Takeaways of the Global Somatropin Market: