Acromegaly Market Overview
Acromegaly is a hormonal disorder caused by the excessive amount of growth hormones which can cause abnormal bone growth and a rise in height size. It can also cause gigantism in children in the midst of puberty. Untimely treatment of the disorder can culminate in arthritis, cardiovascular disease, type 2 diabetes, and high blood pressure. The global acromegaly market report by Market Research Future (MRFR) outlines trends, drivers, opportunities, and threats for manufacturers offering treatments and solutions for the disorder.
The global Acromegaly Market is set to grow at a CAGR of 5.2% during the forecast period according to Market Research Future in its report on the Acromegaly Market. This hormonal disorder is diagnosed in those with a heavy secretion of growth hormones from the pituitary gland. This can result in enlarged hands, feet and an abnormally enlarged face. Limited treatment methods are available. However, acromegaly is an incurable condition that may sometimes go into remission by itself.
This rare disease affects an average of 5-8 people for every 100,000 individuals. Lack of treatment can lead to high chances of morbidity. As a result, there is a high demand for the treatment of acromegaly. Consequences of the disease that often needs further treatment include blood pressure problems, type 2 diabetes and high risk of cardiovascular diseases. Increasing occurrences and diagnoses of hormonal diseases combined with government support toward the treatment of such diseases will likely lead to market growth. Moreover, technological advancements and research & development activities are fuelled by the demand for effective treatment. However, surgeries for treatment of acromegaly are expensive, and the lack of effective treatment for the same is expected to hinder the growth of the acromegaly market.
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Acromegaly Market Segmentation
The global acromegaly market is segmented on the basis of diagnosis, types, treatment, and end-users. By types, the market is segmented into acromegaly due to growth hormone, ectopic acromegaly, and others. By diagnosis, the acromegaly market is divided into medical laboratory investigations, medical imaging, and others. The medical imaging segment is sub-segmented to include MRI, radiography, nuclear medicine, ultrasound, and others.
By treatment, the market is categorized into surgery, medication, radiation therapy, and others. The medication segment is sub-segmented into dopamine agonists, somatostatin analogs, growth hormone receptor antagonists, and others. The surgery segment is sub-segmented to include transsphenoidal surgery and endonasal transsphenoidal surgery. By end-users, the market is comprised of clinics, hospitals, and others.
Acromegaly Market Regional Analysis
Geography-wise, the global acromegaly market comprises the Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA).
The Americas is expected to be the dominating region of the acromegaly market due to the increasing prevalence of the hormonal disorder. Rising number of incidents as well as expendable income levels of patients can fuel the regional market growth. Presence of pharmaceutical majors, government support for research and development, and extended healthcare expenditure are other drivers in the region. Approval of bills which outline the procurement of unproven drugs and vaccines by patients for the treatment of orphan or rare diseases.
The Europe market is driven by increasing investments in research and development centers and rising government support. The inflated healthcare expenditure
APAC is touted to exhibit the highest growth rate during the forecast timespan due to rising prevalence of hormonal disorders, developing healthcare sector, and a large patient pool. China and India can contribute to the market revenue due to hiring of skilled personnel capable of providing treatment for the hormonal disorder as well as availability of drugs in the region.
Lastly, the MEA region can exhibit a sluggish growth rate due to low awareness levels and limited availability of suitable drugs.
Acromegaly Market Players
· Novartis AG (Switzerland)
· Aegis Therapeutics LLC (US)
· Chiasma Inc (US)
· Crinetics Pharmaceuticals Inc (US)
· Daewoong Pharmaceutical Co Ltd (South Korea)
· Peptron Inc (South Korea)
· Silence Therapeutics Plc (UK)
· Strongbridge Biopharma plc (US)
· Amryt Pharma plc (UK)
· Foresee Pharmaceuticals LLC (US)
· Others
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