Acromegaly is a hormonal disorder caused by the excessive amount of growth hormones which can cause abnormal bone growth and a rise in height size. It can also cause gigantism in children in the midst of puberty. Untimely treatment of the disorder can culminate in arthritis, cardiovascular disease, type 2 diabetes, and high blood pressure. The global acromegaly market report by Market Research Future (MRFR) outlines trends, drivers, opportunities, and threats for manufacturers offering treatments and solutions for the disorder.
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Acromegaly Market Outlook
The global acromegaly market is projected to expand at 5.2% CAGR from 2017 to 2023 (forecast period). High prevalence of hormonal disorders, changing lifestyles, and increasing incidence of genetic diseases are factors expected to drive the market growth. Investments in clinical trials for expediting the treatment of the disorder coupled with rising government support can be encouraging for the market. For instance, Chiasma Inc has gained visible success for Phase 3 trials of Mycapssa for the treatment of the disorder in adults.
Development of insulin growth factor (IGF-1) and growth hormone (GH) suppression tests is a positive indicator of its growth in the coming years. Somatostatin analogs combined with a strong development of drugs in the pipeline can fuel the market growth. Rollout of policies and insurance schemes for patients with rare diseases is anticipated to bode well for the market during the forecast period.
But high costs of the treatment can be an impediment for the market.
Acromegaly Market Segmentation Analysis
The global acromegaly market is segmented on the basis of type, diagnosis, treatment, and end-user.
By type, the market is segmented into acromegaly due to growth hormone, ectopic acromegaly, and others.
By diagnosis, the market is segmented into medical laboratory investigations, medical imaging, and others.
By treatment, the market is segmented into radiation therapy, surgery, medications, and others.
By end-user, the market is segmented into clinics, hospitals, and others.
Acromegaly Market Regional Analysis
Geography-wise, the global acromegaly market comprises the Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA).
The Americas is expected to be the dominating region of the acromegaly market due to the increasing prevalence of the hormonal disorder. Rising number of incidents as well as expendable income levels of patients can fuel the regional market growth. Presence of pharmaceutical majors, government support for research and development, and extended healthcare expenditure are other drivers in the region. Approval of bills which outline the procurement of unproven drugs and vaccines by patients for the treatment of orphan or rare diseases.
The Europe market is driven by increasing investments in research and development centers and rising government support. The inflated healthcare expenditure
APAC is touted to exhibit the highest growth rate during the forecast timespan due to rising prevalence of hormonal disorders, developing healthcare sector, and a large patient pool. China and India can contribute to the market revenue due to hiring of skilled personnel capable of providing treatment for the hormonal disorder as well as availability of drugs in the region.
Lastly, the MEA region can exhibit a sluggish growth rate due to low awareness levels and limited availability of suitable drugs.
Acromegaly Market Competitive Outlook
Amryt Pharma plc, Strongbridge Biopharma plc, Silence Therapeutics Plc, Glide Pharmaceutical Technologies Ltd, Peptron Inc, Ipsen SA, Chiasma Inc, Aegis Therapeutics LLC, Novartis AG, Foresee Pharmaceuticals LLC, Crinetics Pharmaceuticals Inc, Daewoong Pharmaceutical Co Ltd, and Ionis Pharmaceuticals Inc are some of the prominent pharmaceutical manufacturers in the market.
Distribution agreements, partnerships, novel product development, and expansions are strategies implemented by these players to gain leverage in the acromegaly market.
In 2019, Recordati acquired three drugs produced by Novartis meant for treating acromegaly and Cushing’s disease. Drugs include Signifor, Signifor LAR, and osilodrostat which can inhibit excessive levels of the growth hormone. The sales of these drugs can mean a banner year for the Italian pharmaceutical as it faces no threats from generic versions of its drugs.
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