Market Trends of Recombinant Hormone Industry
This section covers the major market trends shaping the Recombinant Hormone Market according to our research experts:
Insulin Segment is Expected to Hold a Major Share in the Market Over the Forecast Period
The insulin hormone is secreted by the beta cells of Islets of Langerhans of the pancreas, which catabolizes glucose in the blood. Insulin helps to keep blood sugar levels from getting too high (hyperglycemia) or too low (hypoglycemia). The increasing cases of diabetes, along with new developments and product launches, increase the usage of insulin, which is expected to boost the market over the forecast period.
According to the IDF Diabetes Atlas 2021, the total number of adults with diabetes worldwide is estimated to be 643 million in 2030, which is expected to rise to 784 million by 2045. Hence, the increasing burden of diabetes is expected to have a significant impact on the recombinant insulin usage that drives the market over the forecast period.
Furthermore, new product developments and launches in the market segment are expected to boost the market's growth. For instance, in November 2021, Viatris Inc. and Biocon Biologics Ltd. launched the interchangeable biosimilars SEMGLEE (insulin glargine-yfgn), a recombinant human long-acting insulin analog, in the United States to help control high blood sugar in adult and pediatric patients with type 1 diabetes and adults with type 2 diabetes. Hence, the new product launches, along with the high burden of hormonal diseases, help to expand the product portfolio of the market players, which is expected to propel the market growth over the forecast period.
Thus, owing to the rising burden of diabetes and the launch of new products, the insulin segment of the market is expected to have considerable growth over the forecast period.
North America is Expected to Hold a Significant Share in the Market Over the Forecast Period.
North America is expected to hold a major market share in the recombinant hormone market owing to the increasing expenditure on research and increasing incidence of hormonal disorders. In addition to the above-mentioned factors, the presence of advanced healthcare infrastructure and several major market players in the region is expected to have significant growth in the market over the forecast period.
According to the NIH RCDC 2022, the funding for the research on diabetes in the United States is estimated to be USD 1,124 million in 2021, which is expected to rise to USD 1,209 million by 2023. This research funding involves various categories, which also involve advanced treatment studies like recombinant hormones, and is expected to boost the market over the forecast period. Furthermore, new product developments and launches in the region increase the expansion of applications in the region.
For instance, in October 2021, Ascendis Pharma A/S launched SKYTROFA (lonapegsomatropin-tcgd), its once-weekly treatment for the treatment of pediatric patients one year and older who weigh at least 11.5 kg (25.4 lb) and have growth failure due to inadequate secretion of endogenous growth hormone (GH) in the United States. Similarly, in October 2021, Pfizer Canada ULC received approval for its next-generation long-acting growth hormone injection, PrNGENLA (somatrogon), from Health Canada. NGENLA is a once-weekly long-acting recombinant human growth hormone for the long-term treatment of pediatric patients who have growth failure due to an inadequate secretion of endogenous growth hormone (growth hormone deficiency or GHD). Thus, the new product launches in the region help increase the widespread applications, which are expected to boost the market over the forecast period.
Therefore, all the aforementioned factors, like the high prevalence of hormonal diseases and the latest company activities like product approvals and launches, are expected to increase the usage of recombinant hormone products and likely propel the market to grow over the forecast period.
