Overview and Scope
Acromegaly is a rare hormonal disorder that occurs when the pituitary gland, a small gland located at the base of the brain, produces excessive growth hormone. This excess growth hormone leads to the enlargement and thickening of bones and tissues in various body parts, particularly the hands, feet and face.
Sizing and Forecast
The acromegaly market size has grown rapidly in recent years. It will grow from $1.79 billion in 2023 to $2.15 billion in 2024 at a compound annual growth rate (CAGR) of 19.8%. The growth in the historic period can be attributed to increasing prevalence of acromegaly therapeutics, growing awareness about acromegaly, government initiatives, demand for effective treatments.
The acromegaly market size is expected to see rapid growth in the next few years. It will grow to $4.17 billion in 2028 at a compound annual growth rate (CAGR) of 18.1%. The growth in the forecast period can be attributed to investments in research and development activities for acromegaly treatments, growing number of screening programs, rising healthcare spending, increasing demand for minimally invasive treatment options. Major trends in the forecast period include innovative treatments for acromegaly, development of targeted therapies for acromegaly, strong pipeline of drugs, advancements in treatment options, advanced personalized medicine.
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Segmentation & Regional Insights
The acromegaly market covered in this report is segmented –
1) By Type: Ectopic Acromegaly; Acromegaly Due To Growth Hormone
2) By Diagnosis: GH And IGF-I Measurement; Growth Hormone Suppression Test; Imaging; Other Diagnosis
3) By Route Of Administration: Oral; Parenteral; Other Route Of Administrations
4) By Treatment: Medication; Somatostatin analogues; Dopamine Agonists; Growth Hormone Antagonist; Surgery; Radiation; Other Treatments
5) By End Users: Hospitals; Specialty Clinics; Homecare; Other End Users
North America was the largest region in the acromegaly market in 2023. The regions covered in acromegaly market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The growing number of hormonal diseases such as diabetes is expected to propel the growth of the acromegaly market going forward. Hormonal diseases, also known as endocrine disorders, are medical conditions that result from dysfunction in the endocrine system. Diabetes is one of the most prevalent and significant hormonal diseases. Acromegaly and other endocrine diseases can result from the overproduction of some hormones, such as growth hormone or cortisol. Additionally, due to the impact of high amounts of growth hormone on insulin synthesis, about 50% of people with acromegaly may develop insulin resistance or type 2 diabetes mellitus. For instance, in December 2021, according to the International Diabetes Federation, a US-based intergovernmental organization, diabetes affected 537 million adults (20–79 years old) in 2021 and it is predicted that the number will reach 643 million people by 2030 and a total of 783 million by 2045. Therefore, the growing number of hormonal diseases is driving the growth of the acromegaly market.
Key Industry Players
Major players in the acromegaly market are Pfizer Inc., Johnson & Johnson Private Limited, Merck & Co Inc., AbbVie Inc., Bayer AG, Novartis AG, Sanofi S.A., AstraZeneca PLC, GlaxoSmithKline PLC, Eli Lilly and Company, Gilead Sciences Inc., Boehringer Ingelheim International GmbH., Amgen Inc., Allergan Inc., Teva Pharmaceutical Industries Ltd., Mylan N.V., Ipsen Pharma S.A., Hikma Pharmaceuticals PLC, Lupin Ltd., Recordati S.p.A., Ionis Pharmaceuticals Inc., Amryt Pharma plc , Strongbridge Biopharma PLC, Aquestive Therapeutics Inc., Peptron Inc., Crinetics Pharmaceuticals, Chiasma Inc.
The acromegaly market report table of contents includes:
1. Executive Summary
2.Acromegaly Market Characteristics
3.Acromegaly Market Trends And Strategies
4.Acromegaly market analysis
5.Acromegaly Market Size And Growth
6.Acromegaly Segmentation
7.Acromegaly Regional And Country Analysis
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27.Acromegaly Competitive Landscape And Company Profiles
28. Acromegaly Key Mergers And Acquisitions
29.Acromegaly Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- Pfizer Inc.
- Johnson & Johnson Private Limited
- Merck & Co Inc.
- AbbVie Inc.
- Bayer AG
- Novartis AG
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