Market Size of Global Acromegaly Treatment Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 7.40 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Acromegaly Treatment Market Analysis
The Acromegaly Treatment Market is expected to register a CAGR of 7.4% during the forecast period, 2022-2027.
The COVID-19 pandemic has significantly impacted acromegaly treatment. For instance, as per a November 2020 published article titled, "Growth hormone deficiency, acromegaly, and COVID-19: Transitioning from media reports to knowledge and a growth hormone hypothesis", having acromegaly does theoretically increase the risk of COVID-19 because of its associated comorbidities such as cardiovascular complications, diabetes mellitus, obstructive sleep apnea syndrome, chest wall deformity, upper airway obstruction, and intrathoracic collapse. Additionally, per a March 2021 published article titled, "Pituitary Disorders and COVID-19, Reimagining Care: The Pandemic A Year and Counting", patients with acromegaly have several characteristics that could potentially worsen their outcome if they develop COVID-19. Thus, such studies indicate that patients with COVID-19 disease are at high risk. Hence, the demand for acromegaly treatment is expected to increase in the near future.
Further, the significant factors contributing to the market's growth are the increasing prevalence and incidence of acromegaly and pituitary tumors; growing awareness regarding the disease worldwide; and technological advancements in developing new drugs for acromegaly.
The increasing prevalence of acromegaly and pituitary tumors is boosting the market growth. For instance, as per a May 2021 published article, "Descriptive Epidemiology and Survival Analysis of Acromegaly in Korea," the average annual incidence was 4.2 per million per year, and the prevalence was 32.1 cases per million during this period. Also, as per a July 2021 published article titled, "Global epidemiology of acromegaly: a systematic review and meta-analysis," the results revealed that out of a total of 32 studies included in the systematic review and 22 of them included in the meta-analysis, the pooled prevalence of acromegaly was 5.9 per 100,000 people. Moreover, as per a 2020 update by the Australian Pituitary Foundation, between 715 and 3,500 Australians currently live with acromegaly, representing around one person with acromegaly every 7,300 to 35,700 Australians. Thus, the statistics indicate that the demand for acromegaly treatment will increase shortly, thereby contributing to market growth.
However, complications associated with the treatment are a significant factor restraining the market's growth.
Acromegaly Treatment Industry Segmentation
As per the scope of the report, acromegaly is a rare acquired endocrine disease related to excessive growth hormone production and characterized by progressive somatic disfigurement (mainly involving the face and extremities) and systemic manifestations. The market is segmented By Product Type (Somatostatin Analogs, Growth Hormone Receptor Antagonist (GHRA), Dopamine Agonists, Other Product Types), and Geography(North America, Europe, Asia Pacific, Middle-East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 countries across major global regions. The report offers the value (USD million) for the above segments.
| By Product Type | |
| Somatostatin Analogs | |
| Growth Hormone Receptor Antagonist (GHRA) | |
| Dopamine Agonists | |
| Other Product Types |
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Global Acromegaly Treatment Market Size Summary
The acromegaly treatment market is poised for substantial growth, driven by an increasing prevalence of acromegaly and pituitary tumors, heightened awareness of the disease, and advancements in drug development. The COVID-19 pandemic has underscored the importance of acromegaly treatment due to the heightened risk associated with comorbidities in affected patients. The market is characterized by a competitive landscape with key players such as Pfizer Inc., Novartis AG, and Ipsen, alongside emerging companies like Chiasma, Inc. and Crinetics Pharmaceuticals, which are actively developing innovative therapies. The introduction of novel treatments, such as the FDA-approved MYCAPSSA, highlights the ongoing advancements in the field, contributing to the market's expansion.
North America is anticipated to maintain a significant share of the global acromegaly treatment market, supported by the presence of leading pharmaceutical and biotech companies and a high demand for innovative treatment options. The market's growth is further bolstered by the increasing number of product approvals and the development of new therapeutic approaches, such as the oral somatostatin analogs. Despite the challenges posed by treatment complications, the market is expected to experience robust growth over the forecast period, driven by these dynamic developments and the ongoing efforts to improve patient outcomes.
Global Acromegaly Treatment Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Increasing Prevalence and Incidence of Acromegaly and Pituitary Tumors
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1.2.2 Growing Awareness Regarding Acromegaly Disease Worldwide
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1.2.3 Technological Advancements in Development of New Drugs for Acromegaly
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1.3 Market Restraints
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1.3.1 Complications Associated with the Treatment
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1.4 Porter's Five Force Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD million)
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2.1 By Product Type
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2.1.1 Somatostatin Analogs
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2.1.2 Growth Hormone Receptor Antagonist (GHRA)
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2.1.3 Dopamine Agonists
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2.1.4 Other Product Types
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2.2 Geography
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2.2.1 North America
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2.2.1.1 United States
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2.2.1.2 Canada
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2.2.1.3 Mexico
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2.2.2 Europe
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2.2.2.1 Germany
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2.2.2.2 United Kingdom
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2.2.2.3 France
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2.2.2.4 Italy
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2.2.2.5 Spain
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2.2.2.6 Rest of Europe
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2.2.3 Asia-Pacific
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2.2.3.1 China
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2.2.3.2 Japan
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2.2.3.3 India
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2.2.3.4 Australia
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2.2.3.5 South Korea
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2.2.3.6 Rest of Asia-Pacific
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2.2.4 Middle-East and Africa
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2.2.4.1 GCC
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2.2.4.2 South Africa
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2.2.4.3 Rest of Middle-East and Africa
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2.2.5 South America
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2.2.5.1 Brazil
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2.2.5.2 Argentina
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2.2.5.3 Rest of South America
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Global Acromegaly Treatment Market Size FAQs
What is the current Global Acromegaly Treatment Market size?
The Global Acromegaly Treatment Market is projected to register a CAGR of 7.40% during the forecast period (2024-2029)
Who are the key players in Global Acromegaly Treatment Market?
Pfizer Inc, Ipsen, Chiasma, Inc, Validus Pharmaceuticals LLC and Novartis AG are the major companies operating in the Global Acromegaly Treatment Market.
