Somatropin, also known as human growth hormone, is used for the long-term treatment of children and adults with growth hormone deficiency. Somatropin helps stimulate muscle, bone, and tissue growth. It is administered via daily injections and plays a vital role in enhancing the quality of life of patients suffering from growth hormone deficiency by promoting normal physical growth and development.
The global Somatropin Market is estimated to be valued at US$ 3.85 Bn in 2024 and is expected to exhibit a CAGR of 5.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The introduction of recombinant somatropins has been a key driving factor behind the growth of the global somatropin market. Recombinant somatropins have several advantages over pituitary-extracted somatropins such as consistent dosage and lack of infectious agents. Major players are focusing on the development of long-acting recombinant somatropins to improve patient compliance. For instance, in 2017, Novo Nordisk launched Somatropin Norditropin, a long-acting recombinant somatropin injected once-weekly for the treatment of growth hormone deficiency in children and adults. The rising prevalence of growth hormone deficiency due to increasing lifestyle diseases and growing geriatric population is another major factor fueling the demand for somatropin treatments.
Segment Analysis:
The global somatropin market is dominated by the growth hormone deficiency segment, which accounted for a sizable market share in 2024. Growth hormone deficiency is the most common indication for somatropin therapy. As per medical guidelines, somatropin is recommended for children with growth hormone deficiency to promote growth. Thus, the growth hormone deficiency segment will continue to retain its leading position in the somatropin market during the forecast period.
Key Takeaways:
The Global Somatropin Market Share is estimated to be valued at US$ 3.85 Bn in 2024 and is expected to exhibit a CAGR of 5.0% over the forecast period 2023 to 2030.
Regional Analysis: North America is currently the dominant region in the global somatropin market and is expected to maintain its dominance over the forecast period. This is driven by factors such as the rising prevalence of growth hormone deficiency disorders, a strong presence of major somatropin manufacturers, and favorable reimbursement policies across countries in the region.
Key Players: Key players operating in the somatropin market are Bausch Health Companies Inc., Cheplapharm Arzneimittel, Novartis AG, Novelion Therapeutics Inc., Ciba Corporation, and LGM Pharma, LLC. Bausch Health Companies Inc. and Novartis AG collectively account for over 50% of the global somatropin market share due to their extensive product portfolio and strong sales network across various countries.
For more details on the report, Read- https://www.insightprobing.com/somatropin-market-demand-share-analysis/
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