Dublin, Dec. 21, 2021 (GLOBE NEWSWIRE) -- The "Biosimilar Hormones Global Market Report 2021: COVID-19 Growth and Change to 2030" report has been added to ResearchAndMarkets.com's offering.
The global biosimilar hormones market is expected to grow from $1.94 billion in 2020 to $2.19 billion in 2021 at a compound annual growth rate (CAGR) of 12.9%. The market is expected to reach $5.35 billion in 2025 at a CAGR of 25%.
Major players in the biosimilar hormones market are Teva Pharmaceutical, Gedeon Richter, Intas Pharmaceuticals, Biocon, Mylan, Sanofi, Sandoz (Novartis), LG Life Sciences, Ferring Pharmaceuticals, and GC Pharma.
The biosimilar hormones market consists of sales of biosimilar hormones by entities that engage in manufacturing biosimilar hormones. These hormones are used when patients have a drop in hormones in their bodies or are unbalanced. Only goods and services traded between entities or sold to end consumers are included.
Stringent regulations imposed on the approval of hormone biosimilars limits the growth of the biosimilar hormones market. Biosimilars are approved on the same standard of pharmaceutical quality, efficacy, and safety that apply to all biologics approved in the European Union. There should be a similarity between the biologics and biosimilars, and as the process of manufacturing differs, the approval process becomes expensive and likely hinders the growth of the biosimilar hormones market.
The prevalence of deficiencies in growth hormones and metabolic hormones contributes to the market. The treatments required for hormone-related conditions are evolving over the years and the prevalence of hormonal deficiencies is generating higher demand for the hormone biosimilars market.
For instance, according to the Italian Journal of Pediatrics, the prevalence of growth hormone deficiency (GHD) in childhood widely varies between 1 out of 3480 and 1 out of 30,000 children annually. In children, the growth hormone can influence bone mineralization and lead to several metabolic effects, including glucose and lipid homeostasis. Annually, about 6,000 adults are diagnosed with growth hormone (GH) deficiency in the USA. The growing need to treat patients with prevailing hormonal deficiencies drives the biosimilar hormones market.
Key players operating in the biosimilar hormones market are undertaking various strategic initiatives such as new product launch in untapped regions to make the drug accessible to a large population. The companies are focusing on launching their products across various locations to boost sales and maximize profits.
Key Topics Covered:
1. Executive Summary
2. Biosimilar Hormones Market Characteristics
3. Biosimilar Hormones Market Trends and Strategies
4. Impact Of COVID-19 On Biosimilar Hormones
5. Biosimilar Hormones Market Size and Growth
5.1. Global Biosimilar Hormones Historic Market, 2015-2020, $ Billion
5.1.1. Drivers Of the Market
5.1.2. Restraints On the Market
5.2. Global Biosimilar Hormones Forecast Market, 2020-2025F, 2030F, $ Billion
5.2.1. Drivers Of the Market
5.2.2. Restraints On the Market
6. Biosimilar Hormones Market Segmentation
6.1. Global Biosimilar Hormones Market, Segmentation by Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
Follitropin Alfa Biosimilars
6.2. Global Biosimilar Hormones Market, Segmentation by Application, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
Research & biotechnology
6.3. Global Biosimilar Hormones Market, Segmentation by Distribution Channel, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
Hospital and Retail Pharmacy
7. Biosimilar Hormones Market Regional and Country Analysis
7.1. Global Biosimilar Hormones Market, Split by Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
7.2. Global Biosimilar Hormones Market, Split by Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
LG Life Sciences
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