The Biosimilar Growth Hormones Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Biosimilar Growth Hormones Global Market Report 2024, The biosimilar growth hormones market size has grown strongly in recent years. It will grow from $0.76 billion in 2023 to $0.82 billion in 2024 at a compound annual growth rate (CAGR) of 8.4%. The growth in the historic period can be attributed to rising demand for growth hormones, patent expirations, clinical evidence, increasing clinical trials.
The biosimilar growth hormones market size is expected to see strongly grown in the next few years. It will grow to $1.19 billion in 2028 at a compound annual growth rate (CAGR) of 9.8%. The growth in the forecast period can be attributed to pediatric growth disorders, expanding indications, increase in the diagnosis, increased awareness biosimilar options. Major trends in the forecast period include pediatric-focused biosimilars, biosimilar combinations, dosing convenience, biosimilar combinations, dosing convenience.
The growing number of children suffering from growth hormone deficiency is driving the growth of the global biosimilar growth hormone market. Growth hormone deficiency is caused by damage to the pituitary gland or hypothalamus, which may be the result of an abnormal formation that occurred before the child was born (congenital) or something that occurred during or after birth (acquired). Growth hormone deficiency has been identified in about 1 in every 3,800 babies. Additionally, some children acquire it later in life as a result of a brain tumor, brain operation, radiation therapy, injury, or infection. Thus, an increase in the number of children suffering from growth deficiencies drives the growth of the biosimilar growth hormones industry.
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The Biosimilar Growth Hormones Market Covered In This Report Is Segmented –
1) By Route Of Administration: Intravenous, Subcutaneous, Intramuscular, Oral
2) By Application: Growth Hormone Deficiency, Turner Syndrome, Idiopathic Short Stature, Prader Willi Syndrome, Other Applications
3) By Distribution Channel: Hospital And Retail Pharmacy, Online Pharmacy/ePharmacy, Speciality Clinics
Key players operating in the biosimilar hormones market are undertaking various strategic initiatives such as new product launches in untapped regions to make the drug accessible to a large population. The companies are focusing on launching their products in various locations to boost sales and maximize profits. For instance, in February 2022, Alvotech Holdings S.A., a Luxembourg-based biopharmaceutical company specialising in the development of biosimilar medicines, announced partnerships with Fuji Pharma Co. Ltd., a Japan based pharmaceutical company, to develop biosimilar drug candidates in Japan. Through this partnership, both companies have decided to add new elements to their strategic alliance for the creation and marketing of biosimilar medicines in Japan.
The Biosimilar Growth Hormones Market Report Table Of Contents Includes:
1. Executive Summary
- Market Characteristics
- Market Trends And Strategies
- Impact Of COVID-19
- Market Size And Growth
- Segmentation
- Regional And Country Analysis
………..
- Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions
- Future Outlook and Potential Analysis
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