SOMATROPIN MARKET ANALYSIS

Somatropin MarketSize and Trends

Global somatropin market is estimated to be valued at US$ 3.85 Billion in 2023 and is expected to exhibit a CAGR of 7.3% during the forecast period (2023-2030).

Global Somatropin Market- Segmentation

The global somatropin market report is segmented into dosage form, application, distribution channel, and region.

Among Dosage Form, the global somatropin market is segmented into solvent and powder. Out of which, the powder segment is expected to dominate the market during the forecast period and this is attributed due to the increase bioavailability of growth hormone to treat growth failure in children and adults who lack natural growth hormone and improve patient compliance as compared to the solvent form.

Among Application, the global somatropin market is segmented into growth hormone deficiency (GHD), turner syndrome, chronic renal insufficiency, prader willi syndrome, small for gestational age, SHOX deficiency, and others. The plant-based segment is expected to dominate the market over the forecast period and this is attributed owing to the increase in incidence of turner syndrome across the globe.

Based on Distribution channel, the global somatropin market is segmented into hospital pharmacies, retail pharmacies, and online pharmacies. The hospital pharmacies segment is expected to dominate the market over the forecast period and this is attributed to the preference and ease of availability of artificial or recombinant human growth hormone in hospital pharmacies.

Among Region, the global somatropin market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. Out of which, the North America is expected to dominate the market over the forecast period owing to the increase in launch of product by market key players and increase in the prevalence of turner syndrome.

Among all segmentation, the application segment has the highest potential due to the increasing product launch as well as increase in the prevalence of turner syndrome over the forecast period. For instance, on May 31 2023, according to an article published by the Everyday Health, Turner syndrome is a rare condition, estimated to occur in about 1 of every 2,000 to 2,500 live female births in U.S in 2021.