Market Trends of Global Acromegaly Treatment Industry
This section covers the major market trends shaping the Acromegaly Treatment Market according to our research experts:
Somatostatin Analogs Segment is Expected to Hold a Major Market Share in the Acromegaly Treatment Market
The somatostatin analogs segment is anticipated to hold a significant market share by product type. This can be attributed to the wide availability of drugs and cost-efficiency. Somatostatin analogs have been prescribed as first-line treatment options as they are highly effective. Some examples of available marketed drugs are somavert, Signifor LAR, Sandostatin LAR, Somatuline Depot, and Parlodel.
Also, the increasing number of product approvals is driving the market's growth. For instance, in June 2020, Chiasma, Inc., a commercial-stage biopharmaceutical company, reported that the United States Food and Drug Administration (FDA) approved MYCAPSSA(octreotide) capsules for long-term maintenance treatment in acromegaly patients who have responded to and tolerated treatment with octreotide or lanreotide. MYCAPSSA is the first, and only oral somatostatin analog (SSA) approved by the FDA and the first product approved by the FDA utilizing Chiasma's Transient Permeability Enhancer (TPE) technology. Also, in June 2021, the company submitted a Marketing Authorization Application (MAA) to the European Medicines Agency (EMA) seeking approval of Mycapssa (oral octreotide capsules) as maintenance therapy for adults with acromegaly.
Thus, the market is expected to witness significant growth over the forecast period due to the abovementioned factors.
North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period
North America is expected to hold a significant market share in the global acromegaly treatment market due to the high demand for innovative products. According to the National Institutes of Health (NIH) and Endocrine Society, in 13 studies of acromegaly prevalence, researchers estimate that roughly 24,000 individuals live with acromegaly in the United States, of which an estimated 8,000 people are treated chronically with somatostatin analog injections.
Furthermore, the presence of top pharma and biotech companies involved in developing products for acromegaly treatment is contributing to the market's growth. For instance, in June 2021, Crinetics Pharmaceuticals, Inc., a clinical-stage pharmaceutical company focused on discovering, developing, and commercializing novel therapeutics for rare endocrine diseases and endocrine-related tumors, reported the randomization of the first acromegaly patient in its Phase 3 clinical trial of paltusotine, PATHFNDR-1. This trial will be one of two planned Phase 3 studies assessing the safety and efficacy of once-daily oral paltusotine in acromegaly patients that together will evaluate paltusotine in a broad cross-section of acromegaly patients.
Thus, the market is expected to witness significant growth over the forecast period due to the above developments.
