Global Synthetic Hormones Market to grow with a CAGR of 12.20%.
Increasing
healthcare infrastructure and a supportive regulatory environment are the major
drivers for the Global Synthetic Hormones Market.
According
to TechSci Research report, “Global Synthetic Hormones Market Industry Size,
Share, Trends, Competition, Opportunity and Forecast, 2018-2028”, Global Synthetic Hormones
Market has valued at USD 470.20 million in 2022 and is anticipated to witness
an impressive growth in the forecast period with a CAGR of 12.20% through
2028. This can be due to collaborations
and partnerships among leading companies with a diverse approach to merge the
expertise of individual companies and to strengthen their position in the
market. Advancements
in drug delivery technology serve as a driver for the global synthetic hormones
market. Drug delivery innovations have the potential to enhance the
effectiveness, safety, and patient experience of synthetic hormone therapies. Innovative
drug delivery methods can make it easier for patients to adhere to their
treatment regimens. For example, long-acting or extended-release formulations
allow for less frequent dosing, reducing the burden of daily medication and
improving patient compliance. Drug delivery systems can improve the
bioavailability of synthetic hormones, ensuring that a larger proportion of the
administered dose reaches its target site. This can lead to more effective
treatment outcomes with lower doses and reduced side effects. Advanced drug
delivery technologies enable precise control over dosages, allowing healthcare
providers to tailor treatment regimens to individual patient needs. This
personalization can optimize therapeutic outcomes. Targeted drug delivery
systems can deliver synthetic hormones directly to specific tissues or organs,
minimizing systemic exposure and reducing side effects. For example, hormone-releasing
intrauterine devices (IUDs) provide localized delivery for contraception or
hormone therapy. Transdermal patches and topical creams or gels offer
convenient and non-invasive methods for hormone replacement therapy (HRT). They
can provide steady, controlled hormone release through the skin, avoiding the
need for oral administration.
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In
the therapy of hormonal imbalance in the human body, synthetic hormones, which
are foreign chemicals created in a lab, are employed. Progesterone, oestrogen,
thyroid hormone, testosterone, and insulin are just a few of the synthetic
hormones that are often utilized for various medical ailments. The Ferring B.V.
product Zomacton injectable (Somatropin), which is used to treat growth hormone
insufficiency in children, is one example of the synthetic hormones that are
sold on the market. Additionally, Tirosint from IBSA Institute Biochimique SA
is offered as a liquid levothyroxine formulation for the treatment of
hypothyroidism in people with thyroid hormone insufficiency.
In
February 2022, The European Commission has approved the once-weekly injection
of NGENLA (somatrogon), a next-generation long-acting recombinant human growth
hormone, to treat children and adolescents from the age of three who have
growth disturbances caused by insufficient growth hormone secretion. NGENLA
offers paediatric kids with growth hormone deficiency (GHD), their careers, and
healthcare professionals a novel therapy option that lowers the frequency of
necessary injections from once daily to once weekly. NGENLA (somatrogon) is a
synthetic growth hormone that works by replacing the lack of growth hormone in
the body. NGENLA is taken by injection just below the skin. Compared to the
growth hormone GENOTROPIN (somatropin), its action in the body lasts longer,
enabling weekly injections instead of daily. GHD is a rare disease characterized
by the inadequate secretion of the growth hormone, somatropin, from the
pituitary gland and affects one in approximately 4,000 to 10,000 children
worldwide. The disease can be caused by genetic mutations or acquired after
birth. Without treatment, affected children will have persistent growth
attenuation and a very short height in adulthood, and puberty may be delayed.
Children may also experience other problems with physical health and mental
well-being.
Regulatory
scrutiny is a significant challenge in the global synthetic hormones market, as
it is in the broader pharmaceutical industry. Regulatory bodies play a crucial
role in ensuring the safety, efficacy, and quality of synthetic hormone
medications. Pharmaceutical companies must adhere to strict regulatory
guidelines throughout the drug development process, including manufacturing
practices, quality control, and labeling requirements. Non-compliance can
result in delays, fines, or the withdrawal of a drug from the market. The
labeling and packaging of synthetic hormone medications must provide clear and
accurate information to healthcare providers and patients. Any changes to
labeling require regulatory approval. Ensuring the consistent quality and
potency of synthetic hormone products is essential. Manufacturing facilities
and processes are subject to regular inspections and quality checks by
regulatory authorities to maintain product safety and efficacy.
Global Synthetic Hormones Market segmentation is
based on Product, Route
of Administration, Application, End User, and Region
Based on Application,
Global Synthetic Hormones Market is segmented into Growth Hormone Deficiency,
Male Hypogonadism, Menopause, Thyroid Hormone Deficiency. Thyroid
hormone deficiency, also known as hypothyroidism, is a medical condition
characterized by an insufficient production or inadequate functioning of
thyroid hormones by the thyroid gland. The thyroid gland, located in the front
of the neck, plays a crucial role in regulating various metabolic processes in
the body. When it fails to produce enough thyroid hormones, it can lead to a
range of physical and metabolic problems. The thyroid gland produces two
primary hormones, thyroxine (T4) and triiodothyronine (T3). These hormones are
responsible for regulating the body's metabolism, which includes processes like
energy production, temperature regulation, and the functioning of various
organs and tissues. Hypothyroidism is typically diagnosed through blood tests
that measure levels of thyroid-stimulating hormones (TSH) and thyroid hormones
(T4 and T3). Elevated TSH levels with low T4 and T3 levels are indicative of
hypothyroidism. The most common treatment for thyroid hormone deficiency is
hormone replacement therapy. Patients are prescribed synthetic thyroid
hormones, typically levothyroxine (T4), which they take as a daily oral
medication. The goal of treatment is to restore normal thyroid hormone levels
and alleviate symptoms.
Based on Region, North America dominated the Global Synthetic Hormones Market.
North America has robust regulatory agencies, such as the U.S. Food and Drug
Administration (FDA) and Health Canada, which ensure the safety and efficacy of
pharmaceutical products, including synthetic hormones. A clear and
well-established regulatory framework supports the market's growth and
stability. Many residents in North America have access to health insurance,
which can cover the cost of hormone replacement therapies and treatments. This
makes synthetic hormones more accessible and affordable to a larger portion of
the population. North America conducts a significant portion of clinical trials
for new hormone therapies. This not only contributes to scientific advancements
but also establishes the region as a hub for hormone-related research and
development. The overall economic prosperity of North America means that
consumers have the financial capacity to afford synthetic hormone treatments.
Asia-pacific region to fastest growth in the Global Synthetic
Hormones Market. The Asia-Pacific region is home to a significant portion of
the world's population, including countries like China and India, which have
populations exceeding one billion each. A large and growing population creates
a substantial patient base for healthcare services and pharmaceutical products,
including synthetic hormones. Like many other parts of the world, the
Asia-Pacific region is experiencing demographic shifts, with a rapidly aging
population. As people age, they are more likely to develop hormone-related
disorders and require hormone replacement therapies, driving demand for
synthetic hormones. Many countries in the Asia-Pacific region are investing in
improving their healthcare infrastructure, expanding access to healthcare
services, and enhancing the availability of pharmaceutical products. This
increased access to healthcare contributes to greater diagnosis and treatment
of hormone-related conditions. Urbanization, changing dietary habits, and
sedentary lifestyles have contributed to an increase in lifestyle-related
hormone disorders, such as diabetes and obesity. These factors drive the need
for hormone management and treatment with synthetic hormones.
Some of the major companies
operating in the Global Synthetic
Hormones Market include:
- Acerus
Pharmaceuticals Corp.
- American
Regent, Inc.
- Anhui
Anke Biotechnology (Group) Co. Ltd.
- BioPartners,
Inc
- Eli
Lilly and Company
- Endo
Pharmaceuticals, Inc.
- F.
Hoffmann-La Roche Ltd.
- IBSA
Institut Biochimique SA
- Lupin
Pharmaceuticals, Inc.
- Pfizer,
Inc
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“Certain areas, particularly in North America, are
projected to exert significant demand for thyroid treatment. The growth in the
competitive landscape and the presence of well-established companies in the
market, committed to enhance the overall wellbeing of people each year, are
expected to contribute to a remarkable growth of the Global Synthetic Hormones Market
in the forecast period," said Mr. Karan Chechi, Research Director with
TechSci Research, a research-based Global management consulting firm.
Synthetic
Hormones Market – Global Industry Size, Share, Trends, Opportunity, and
Forecast, 2018-2028 Segmented by Product
(Amino Acid Derivatives, Peptide Hormone, Steroid Hormones), by Route of Administration (Intravenous,
Nasal, Oral, Suppository,
Topical), by Application (Growth
Hormone Deficiency, Male Hypogonadism, Menopause, Thyroid Hormone Deficiency),
by End User (Hospital Pharmacies, Online Pharmacies, Retail Pharmacies), by region, and Competition evaluated the future growth potential of
Global Synthetic Hormones Market and provides statistics & information on
market size, structure, and future market growth. The report intends to provide
innovative 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 Synthetic
Hormones Market.
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