Global Somatropin Market, By Dosage Form (Powder, and Solvent), By Application (Growth Hormone Deficiency (GHD), Turner Syndrome, Chronic Renal Insufficiency, Prader Willi Syndrome, Small for Gestational Age, SHOX Deficiency, and Others), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) 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), as highlighted in a new report published by Coherent Market Insights.
The key market players are focused on adopting growth strategies such as product launch as well as partnerships, which will drive the global somatropin market during the forecast period. For instance, in August 2021, Ascendis Pharma A/S, a biopharmaceutical company that utilizes its innovative TransCon technologies, announced that the U.S. Food and Drug Administration (FDA) has approved SKYTROFA (lonapegsomatropin-tcgd) for the treatment of pediatric patients one year and older who weigh at least 11.5 kg (25.4 lb) and have growth failure due to inadequate secretion of endogenous growth hormone (GH).
Global Somatropin Market– Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China) in the last months of 2019 as "coronavirus disease 2019" or COVID-19. This virus spread quickly and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries such as India, China, Brazil, and others faced problems with regard to the transportation of drugs from one place to another.
COVID-19 had a negative impact on the global somatropin market. According to a Frontiers article, patients with low growth hormone secretion present a risk factor for COVID-19, which calls for attention in order to aid in COVID-19 prevention. Additionally, Prader-Willi syndrome patients must exercise sufficient caution to reduce their risk of contracting COVID-19. Additionally, patients with Prader-Willi syndrome may not exhibit typical symptoms such a high temperature and they may also have a higher pain threshold than usual, which may cause a delay in the diagnosis of COVID-19. Turner syndrome sufferers are more likely to have a serious illness from the COVID-19 virus. The COVID-19 pandemic has put a strain on and had an influence on the global healthcare systems. For instance, in April 2022, according to a study published in the Journal of Saudi Medical Journal, among the participants who were compliant to medication before the pandemic, 92% continued to be compliant with growth hormone treatment during the pandemic, despite the huge impact that COVID-19 had on the health system. In this study, protein-rich foods were the most frequently consumed before the pandemic, and consumption increased during the pandemic while fast food intake was noted to have decreased during the pandemic. Participants reported consuming more desserts and sweetened drinks during the pandemic, with a significant increase in participants consuming vegetables and fruit during the pandemic.
Global Somatropin Market: Key Developments
In January 2021, 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 US Food and Drug Administration (FDA) has accepted for filing the initial Biologics License Application (BLA) for somatrogon, a long-acting human growth hormone that is intended to be administered once-weekly for the treatment of pediatric patients with growth hormone deficiency (GHD).
In October 2021, Ascendis Pharma A/S, a biopharmaceutical company, announced the U.S. commercial launch of SKYTROFA (lonapegsomatropin-tcgd), its once-weekly treatment for the treatment of pediatric patients one year and older who weigh at least 11.5 kg (25.4 lb) and have growth failure due to inadequate secretion of endogenous growth hormone (GH). SKYTROFA (lonapegsomatropin-tcgd) is available by prescription and distributed through a network of specialty pharmacies across the U.S.
In February 2021, Pfizer Inc., a multinational pharmaceutical and biotechnology corporation, initiated a Phase III clinical trial to evaluate the efficacy and safety of somatropin in a cohort of Japanese participants with Prader-Willi Syndrome (PWS).
Browse 32 Market Data Tables and 22 Figures spread through 240 Pages and in-depth TOC on “Global Somatropin Market”- Forecast to 2030, Global Somatropin Market, By Dosage Form (Powder, and Solvent), By Application (Growth Hormone Deficiency (GHD), Turner Syndrome, Chronic Renal Insufficiency, Prader Willi Syndrome, Small for Gestational Age, SHOX Deficiency, and Others), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/somatropin-market-4062
Key Takeaways of the Global Somatropin Market:
- The global somatropin market is expected to exhibit a CAGR of 7.3% during the forecast period. This is attributed due to increase in the product launch by the key players over the forecast period.
- Among Dosage Form, the powder segment is expected to growth in the global somatropin market over the forecast period, owing 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 comparedto the solvent form. For instance, on April 01, 2023, according to an article published by Drugs.com, Genotropin is a sterile white lyophilized powder intended for subcutaneous injection, and is indicated for the treatment of pediatric patients who have growth failure due to an inadequate secretion of endogenous growth hormone.
- Among Distribution channel, the hospital pharmacies segment is expected to hold a dominant position in the global somatropin market during the forecast period and this is attributed to the preference and ease of availability of artificial or recombinant human growth hormone in hospital pharmacies. For instance, in November 2020, Dorset Medicines Advisory Group, an advisory system on prescribing and commissioning of medicines in Dorset, issued commissioning statement and guidelines on the use of growth hormone for children and adults for the use of recombinant human growth hormone in hospitals.
- Major players operating in the global somatropin market include Novo Nordisk A/S, Pfizer, Inc., Eli Lilly and Company, Changchun GeneScience Pharmaceutical Co., Ltd., Sandoz International GmbH, Ipsen Pharma, LG Chem, Merck KGaA, Genentech, Inc., Ferring B.V., AnkeBio Co., Ltd, Reliance Life Sciences, JCR Pharmaceuticals Co., Ltd, Zhongshan Sinobioway Hygene Biomedicine Co., Ltd, and USV Private Limited.
