Major players in the biosimilar growth hormone market are Biopartners And LG Chem, Amega Biotech, Eli Lilly and Company, Genetech Inc. , Novartis AG, Zhongshan Hygene Biopharm Co. Ltd. , Merck, Sanofi S.
New York, Sept. 27, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Biosimilar Growth Hormones Global Market Report 2021: COVID-19 Growth And Change To 2030" - https://www.reportlinker.com/p06151624/?utm_source=GNW
A., Biosidus, and Ferring Pharmaceuticals.
The global biosimilar growth hormones market is expected to grow from $0.52 billion in 2020 to $0.56 billion in 2021 at a compound annual growth rate (CAGR) of 7.7%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $0.78 billion in 2025 at a CAGR of 9%.
The biosimilar growth hormone market consists of sales of Somatropin or human growth hormone (HGH) and related services by entities (organizations, sole traders and partnerships) that manufacture growth hormones. Biosimilar growth hormones are used to stimulate growth, cell reproduction and cell regeneration in humans and other animals.
The biosimilar growth hormone market covered in this report is segmented by route of administration into intravenous, subcutaneous, intramuscular, oral. It is also segmented by application into growth hormone deficiency, turner syndrome, idiopathic short stature, prader willi syndrome, others; by distribution channel into hospital and retail pharmacy, online pharmacy/epharmacy, specialty clinics.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The growing awareness about the side effects caused by the continuous usage of the biosimilar growth hormones is expected to restrict the growth of the market.Possible side effects of HGH use include nerve, muscle, or joint pain, swelling due to fluid in the body’s tissues (edema), carpal tunnel syndrome, numbness and tingling of the skin, and high cholesterol levels.
Continuous dosage of HGH can also increase the risk of diabetes and contribute to the growth of cancerous tumors, thus restraining the growth of the market.
In October 2018, Strongbridge Biopharma Plc entered into an agreement with Novo Nordisk to acquire the U.S. and Canadian rights of MACRILEN™ (macimorelin) for a deal amount of $145 million. The deal is expected to boost Novo Nordisk’s biopharma business. Macrilen is an oral growth hormone secretagogue receptor agonist that is indicated for the diagnosis of adult growth hormone deficiency (AGHD). Strongbridge Biopharma is a biopharmaceutical company focused on the development and commercialization of therapies for rare diseases with unmet needs.
The growing number of children suffering from growth hormone deficiency is driving the growth of the global biosimilar growth hormone market.Growth hormone deficiency is caused by damage to the pituitary gland or hypothalamus, which may be the result of an abnormal formation that occurred before the child was born (congenital) or something that occurred during or after birth (acquired).
Growth hormone deficiency has been identified in about 1 in every 3,800 babies.Additionally, some children acquire it later in their life as a result of a brain tumor, brain operation, radiation therapy, injury or infection.
Thus, an increase in the number of children suffering from growth deficiency drives the growth of the market.
Recombinant DNA technology (rDNA technology) is increasingly being implemented in the biosimilar growth hormone industry.The development of biosimilar growth hormone by using recombinant DNA technology (rDNA technology) is an emerging trend.
For instance, in 2018, Genevatropin was produced utilizing Recombinant DNA Secretion Technology. Genevatropin® (Genevatropin [rDNA origin] injectable delivery) is a pharmaceutical solution that supplements the natural human growth hormone for people who may be deficient in this hormone.
The countries covered in the market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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