Acromegaly Treatment Market to Grow with a CAGR of 6.76% through 2028
Rising early diagnosis and screening programs is
expected to drive the Global Acromegaly Treatment Market growth in the forecast
period, 2024-2028.
According to TechSci Research report, “Acromegaly
Treatment Market – Global Industry Size, Share, Trends, Competition
Forecast & Opportunities, 2028”, the Global Acromegaly Treatment Market
stood at USD 1.44 billion in 2022 and is anticipated to grow with a CAGR of 6.76%
in the forecast period, 2024-2028. The Global Acromegaly Treatment Market has witnessed
significant growth in recent years, driven by various factors that are
reshaping the landscape of acromegaly management. Acromegaly is a rare
endocrine disorder characterized by the excessive secretion of growth hormone
(GH) in adults, primarily caused by benign tumors in the pituitary gland. This
condition leads to abnormal growth of bones and tissues and is associated with
various health complications. One of the primary drivers of the acromegaly treatment
market's growth is the continuous development of innovative therapeutic
approaches. Traditionally, treatment options for acromegaly included surgery
and radiation therapy to remove or shrink the pituitary tumor responsible for
GH overproduction. However, pharmaceutical advancements have led to the
introduction of novel medical therapies. These include somatostatin analogs,
growth hormone receptor antagonists, and dopamine agonists, which offer
patients a wider range of choices for managing their condition effectively. The
availability of these newer treatments has not only improved patient outcomes
but has also expanded the market significantly. Another driving force behind the growth of the global
acromegaly treatment market is the increasing incidence of this rare disorder.
While acromegaly remains a relatively uncommon condition, advances in
diagnostic techniques have led to its earlier detection. As healthcare
professionals and patients become more aware of the symptoms and signs of
acromegaly, the number of diagnosed cases has risen. Early diagnosis allows for
timely intervention and better management of the disease, making treatment a
crucial aspect of acromegaly care. The growing number of patients seeking
treatment has contributed to the market's expansion.
The growth of the global acromegaly treatment market
is further bolstered by the development of healthcare infrastructure in
emerging economies. As these nations invest in healthcare systems and
facilities, there is an increased emphasis on diagnosing and treating rare
diseases like acromegaly. Improved access to healthcare services and
specialized treatment centers ensures that patients have better opportunities
to receive appropriate care. This expansion of healthcare infrastructure is
contributing to the broader penetration of the acromegaly treatment market.
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A notable market trend is the continuous advancement
in therapeutic approaches for acromegaly. Traditional treatment options
included surgery and radiation therapy to address the underlying pituitary
tumor. However, pharmaceutical innovations have led to the introduction of
novel medical therapies. These therapies include somatostatin analogs, growth
hormone receptor antagonists, and dopamine agonists, which offer a more diverse
range of treatment options. The availability of these advanced treatments not
only improves patient outcomes but also fuels market growth by expanding the
array of therapeutic choices available.
The Global Acromegaly Treatment Market is segmented
into drugs, route of administration, distribution channel, regional
distribution, company and region
Based on the Drugs, the Somatostatin Analogs emerged
as the dominant segment in the global market for Global Acromegaly Treatment
Market in 2022. Somatostatin analogs, such as octreotide and lanreotide, have a
well-established track record of effectively controlling the symptoms of
acromegaly by inhibiting the secretion of growth hormone (GH). They have been
used for several decades and are considered a first-line treatment option.
Somatostatin
analogs can be used as monotherapy in many acromegaly cases, simplifying the
treatment process. For patients who are not suitable candidates for surgery or
radiation therapy, somatostatin analogs offer a highly effective standalone
option.
Based on the Route of administration, the Subcutaneous
administration emerged as the dominant player in the global market for Global Acromegaly
Treatment Market in 2022. Subcutaneous administration of acromegaly treatments,
such as somatostatin analogs (e.g., octreotide and lanreotide), has been proven
to be highly effective in controlling the excessive secretion of growth hormone
(GH). These drugs effectively reduce GH levels and normalize insulin-like
growth factor-1 (IGF-1) levels, which are crucial treatment goals in acromegaly
management. Subcutaneous injections are relatively simple and convenient to
administer, both for healthcare providers and patients. Many patients can learn
to self-administer these injections, reducing the need for frequent visits to
healthcare facilities. This convenience promotes patient adherence to the
treatment regimen, which is crucial for managing acromegaly effectively over
the long term.
Subcutaneous injections allow for a controlled and
steady absorption of the medication into the bloodstream. This consistent
absorption pattern helps maintain stable drug levels in the body, optimizing
treatment efficacy and symptom control.
Based on the Distribution Channel, the Hospital
pharmacies emerged as the dominant player in the global market for Global
Acromegaly Treatment Market in 2022. Hospital pharmacies are often staffed with
pharmacists who have specialized knowledge in endocrinology and rare diseases
like acromegaly. This expertise is crucial for ensuring that patients receive
the correct medications and appropriate dosages for their specific needs.
Hospital pharmacies are often staffed with pharmacists who have specialized
knowledge in endocrinology and rare diseases like acromegaly. This expertise is
crucial for ensuring that patients receive the correct medications and
appropriate dosages for their specific needs. Acromegaly treatments, such as
somatostatin analogs and growth hormone receptor antagonists, are specialized
medications that may not be readily available at retail or online pharmacies.
Hospital pharmacies are more likely to stock these medications or have access
to them through their network of suppliers.
North America emerged as the dominant player in the
global Acromegaly Treatment Market in
2022, holding the largest market share. Many individuals in North America have
access to health insurance coverage, which can significantly reduce the
financial burden of acromegaly treatment. This insurance coverage helps ensure
that patients can afford necessary medications and medical interventions. North
America hosts a substantial number of clinical trials for acromegaly
treatments, allowing patients access to cutting-edge therapies before they
become widely available. Participation in these trials contributes to advancing
the understanding of acromegaly and expanding treatment options.
Acromegaly management often requires multidisciplinary
care, including the expertise of endocrinologists, neurosurgeons, and
radiologists. North America offers access to specialized care teams with
extensive experience in treating acromegaly, ensuring patients receive
comprehensive and personalized treatment plans.
Major companies operating in Global Acromegaly
Treatment Market are:
- Recordati Rare
Diseases
- Pfizer Inc.
- Validus
Pharmaceuticals LLC
- Ipsen Pharma
- Crinetics
Pharmaceuticals, Inc.
- Amryt Pharma plc
- Debiopharm
- ADVANZ PHARMA
- Novartis
Pharmaceuticals Corporation
- Amolyt Pharma
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“The Global
Acromegaly Treatment Market is poised for significant growth in the coming
years, driven by a combination of factors. Advancements in therapeutic
approaches, including the development of novel medications and treatment
modalities, are providing more effective options for managing acromegaly. The rising incidence of acromegaly, attributed to improved diagnostic
capabilities and heightened awareness, is expanding the patient pool in need of
treatment. The continuous development of healthcare infrastructure,
particularly in emerging economies, is improving patient access to diagnosis
and management, fostering market expansion. Moreover, collaborative research
efforts and the pursuit of personalized treatment plans are further enhancing
the efficacy of acromegaly management.” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based management consulting firm.
“Acromegaly Treatment Market - Global Industry Size, Share, Trends,
Opportunity, and Forecast, 2018-2028 Segmented By Drugs (Somatostatin Analogs,
Growth Hormone Receptor Antagonists, Dopamine Agonists, Combination Therapy),
By Route of administration (Oral, Subcutaneous ,Others), By Distribution Channel (Hospital Pharmacies,
Retail Pharmacies, Online Pharmacies) By Region and Competition”, has evaluated
the future growth potential of Global Acromegaly Treatment Market and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Acromegaly Treatment Market.
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