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 Treatment Market Size is projected to expand at 5.2% CAGR from 2017 to 2023 (forecast period). High prevalence of hormonal disorders, changing lifestyles, and increasing incidence of genetic diseases are factors expected to drive the market growth. Investments in clinical trials for expediting the treatment of the disorder coupled with rising government support can be encouraging for the market. For instance, Chiasma Inc has gained visible success for Phase 3 trials of Mycapssa for the treatment of the disorder in adults.
Development of insulin growth factor (IGF-1) and growth hormone (GH) suppression tests is a positive indicator of its growth in the coming years. Somatostatin analogs combined with a strong development of drugs in the pipeline can fuel the market growth. Rollout of policies and insurance schemes for patients with rare diseases is anticipated to bode well for the market during the forecast period.
But high costs of the treatment can be an impediment for the market.
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Acromegaly Market Segmentation
- The global acromegaly market is segmented on the basis of type, diagnosis, treatment, and end-user.
- By type, the market is segmented into acromegaly due to growth hormone, ectopic acromegaly, and others.
- By diagnosis, the market is segmented into medical laboratory investigations, medical imaging, and others.
- By treatment, the market is segmented into radiation therapy, surgery, medications, and others.
- By end-user, the market is segmented into clinics, hospitals, and others.surgery. By end-users, the market is comprised of clinics, hospitals, and others.
Acromegaly Market Regional Analysis
- The Americas, due to their inclusion of North American and its concentration of developed economies, accounts for the largest market share of the global acromegaly market. Over 3,000 cases of acromegaly occur in the region on a yearly basis. The U.S has a high number of patient population for acromegaly. Moreover, the region's patients have high disposable incomes and display a high demand for an advanced treatment option. Government support for the same, combined with the presence of leading players in the region and the high healthcare expenditure is expected to drive market growth.
- The Asia Pacific accounts for the fastest growing region for the acromegaly market due to the presence of a massive patient population which is witnessing increasing occurrences of hormonal disease. Moreover, the swiftly developing healthcare sector is expected to provide lucrative opportunities for market advancement.
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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