SOMATROPIN MARKET ANALYSIS

Market Challenges And Opportunities

Global Somatropin Market Report Coverage:

Global Somatropin Market– Drivers

Product approval from regulatory authorities

Product approval from regulatory authorities such as U.S. Food and Drug Administration is expected to drive the market over the forecast period. On June 28 2023, Pfizer Inc., a multinational pharmaceutical and biotechnology corporation and OPKO Health Inc., a medical test and medication company, focused on diagnostics and pharmaceuticals, announced that the U.S. Food and Drug Administration (FDA) has approved NGENLA (somatrogon-ghla), a once-weekly, human growth hormone analog indicated for treatment of pediatric patients aged three years and older who have growth failure due to inadequate secretion of endogenous growth hormone. NGENLA is expected to become available for U.S. prescribing in August 2023.

Increasing long term effect of growth hormone therapy on children with growth hormone deficiency

Increasing long term effect of growth hormone therapy on children with growth hormone deficiency is expected to drive the global somatropin market growth over the forecast period. For instance, in July 2022, according to the data published in the Journal Acta Biomedica, in 2020, a study was conducted among 252 short children with growth hormone deficiency, 63 with idiopathic short stature, 26 with small for gestational age, and 9 with Turner syndrome who were treated in King Abdullah International Medical Research Center, Jeddah, Saudi Arabia with growth hormone.

Global Somatropin Market Report Coverage:

Global Somatropin Market: Restraints

Increasing presence of alternative drugs for growth hormone deficiency

Increasing presence of alternative drugs for growth hormone deficiency is expected to hinder the market growth over the forecast period. So, research & development in developing novel and innovative growth hormone delivery can be initiated by the key market players to avoid the presence of alternative therapies. For instance, in June 2022 according to an article published by Healthline Media LLC, a website and provider of health information, Sermorelin therapy is less expensive than human growth hormone treatment, sometimes by as much as 10%. Injection or a multi-dose auto pen are two alternatives for administration of drug.