The Somatropin Market is expected to grow at a 7.38 % CAGR during the forecast period for 2024-2031.
Key Industry Insights & Findings from the Report:
- One factor driving the growing demand for somatropin is the increasing frequency of growth hormone deficiency diagnoses in both adults and children, while another is the improvement in medical diagnostic technology, which permits earlier and more precise identification of growth hormone deficiency.
- Somatropin is in high demand due to the rising incidence of growth hormone diseases.
- North America dominated the market and accounted for a global revenue share in 2023.
- Potential obstacles to the expansion of the somatropin market include the high expense of receiving treatment and the necessity of long-term medication.
Growth hormone is a natural hormone secreted by the pituitary gland of the human body. It regulated various complex physiological processes of the body, which mainly include growth and metabolism. It plays a role in achieving normal growth in children and is also helps to regulate lipid, carbohydrate, and protein metabolism in all age groups (childhood & adulthood). The synthetic form of human growth hormone is known as somatropin. Until 1985, the growth hormone is obtained through extraction from cadaveric pituitary glands due to its side effect, it was discontinued, and the first synthetic growth hormone was approved by the U.S. Food Drug Administration in 1985 for the treatment of growth hormone deficiency.
It is also approved for the treatment of chronic renal insufficiency, adult growth hormone deficiency, truners syndrome, Prader-Willi syndrome, idiopathic short stature, and Noonan syndrome. It is also an anti-aging therapy yet is not approved for this indication. Much synthetic human growth hormone is now available in the market, which includes Humatrope (Lilly), Nutropin (Genentech), Norditropin (Novo), Genotropin (Pfizer), and Saizen (Merck Serono). As of 2006, the recombinant version of somatropin was launched a ‘Omnitrope’ by Sandoz. Growing demand for somatropin, led by rising growth hormone deficiency cases and advancement in rDNA technology, has boosted the growth of the global somatropin market in the forecast period. Moreover, ongoing clinical trials of somatropin in various therapeutic areas further drive the development of the market. However, stringent regulatory process and complicated manufacturing process are the factors restrain the growth of the global somatropin market.
Market Segmentation
The global somatropin market is segmented on the basis of application, distribution channel, and geography. On the basis of application, the global somatropin market is further sub-segmented into chronic renal insufficiency, growth hormone deficiency, turners syndrome, Prader-Willi syndrome, idiopathic short stature, and Noonan syndrome. Growth hormone deficiency followed turners syndrome segment is expected to hold a significant share of the market due to an increase in the number of patients suffering from pituitary dysfunction and the effectivity of the somatropin to treat turners syndrome. Based on distribution channels, the global somatropin market is segmented into online pharmacy, hospital pharmacy and retail pharmacy. Hospital pharmacy is a major contributor in terms of revenue to the market as somatropin is available on prescription and increases the number of hospital visits.
At the regional level, the global Somatropin market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In terms of revenue, North America, followed by Europe, is a major contributor to the global somatropin market. This is partly because of increased government initiatives for cost-effective treatment and the rising number of pituitary dysfunction cases. Furthermore, a strong clinical pipeline and increasing research and drug development activities propel the growth of the market in these regions. The Asia Pacific is the third promising revenue contributor, which is expected to grow at a rapid pace in the upcoming year. Countries such as Japan, India, and China are significant contributors to this market and are identified as most lucrative for this market. Emerging and huge population base countries such as China and India offer tremendous market opportunities.
Competitive Landscape
Some of The Key Players in The Somatropin Market:
- Eli Lilly & Company
- Pfizer
- Regeneron Pharmaceuticals
- Sanofi-aventis
- Mitsubishi Tanabe Pharma Corporation
- Teva Pharmaceutical Industries
- Astellas Pharma
- Other Prominent Players
The Somatropin Market Report Scope
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Report Attribute |
Specifications |
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Growth Rate CAGR |
CAGR of 7.38 % from 2024 to 2031 |
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Quantitative Units |
Representation of revenue in US$ Million and CAGR from 2024 to 2031 |
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Historic Year |
2019 to 2023 |
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Forecast Year |
2024-2031 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
By Applications, By Distribution Channel |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
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Competitive Landscape |
Sandoz, F. Hoffmann-La Roche AG, Pfizer, Eli Lilly and Company, Regeneron Pharmaceuticals, Novo Nordisk, Teva Pharmaceutical Industries, Merck co., and others |
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Customization Scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing and Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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