Acromegaly Treatment Market To Reach $1.93 Billion By 2030

Acromegaly Treatment Market Growth & Trends

The global acromegaly treatment market size is expected to reach USD 1.93 billion by 2030, expanding at a CAGR of 5.7% from 2023 to 2030, according to a new report by Grand View Research, Inc. Increasing incidence of the acromegaly disease is expected to drive the growth. For instance, the disease prevalence increased fourfold in 2015 from its previous year 2014, according to a report by the Endocrine Society. Moreover, growing investment in clinical trials by various pharmaceutical companies to develop new molecules is another factor propelling the market growth.

Furthermore, strong pipeline of drugs is anticipated to create growth opportunities in the forthcoming years. For instance, Mycapssa by Chiasma Inc. received approval in Europe in 2016. In 2018, Antisense Therapeutics launched their new formulation ALT1103 in U.S. ISIS 766720 by Ionis Pharmaceuticals Inc., a growth hormone receptor antagonist is currently under phase II clinical trial and is expected to be finished by December 2019.

The strong pipeline of drugs for somatostatin analogs is expected to propel growth of the acromegaly treatment market in near future. For instance, in 2018 around 30 clinical trials were being conducted in North America and many are waiting for the U.S. Food and Drug Administration (FDA) approval.

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Acromegaly Treatment Market Report Highlights

• Somatostatin analogs segment is expected to emerge as the largest product segment in terms of revenue share in the forthcoming years, owing to easy availability and cost-effective treatment procedure of the product

• Hospital and clinics end use segment accounted for the largest market share as all the surgical procedures are performed in these facilities. Easy availability of surgeons Is anticipated to further drive the segment

• North America held the dominant market share in 2022, due to favorable government insurance policies and increased investment in R&D by the pharmaceutical companies. For instance, In May 2018, U.S. Congress approved the Right to Try bill, wherein patients can try unproven medical therapeutics in case of serious illness including orphan diseases like acromegaly

Acromegaly Treatment Market Segmentation

Grand View Research has segmented the global acromegaly treatment market based on drug type, end-use, and region:

Acromegaly Treatment Drug Type Outlook (Revenue, USD Million, 2018 - 2030)

• Somatostatin analogs

• GHRA

• Others

Acromegaly Treatment End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Hospitals & Clinics

• Others

Acromegaly Treatment Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

• Europe

  • U.K.

  • Germany

  • France

  • Italy

  • Spain

  • Sweden

  • Norway

  • Denmark

• Asia Pacific

  • China

  • Japan

  • India

  • Australia

  • Thailand

  • South Korea

• Latin America

  • Brazil

  • Mexico

  • Argentina

• Middle East and Africa

  • Saudi Arabia

  • South Africa

  • UAE

  • Kuwait

List of Key Players in Acromegaly Treatment Market

• Novartis AG

• Ipsen Pharma

• SUN PHARMACEUTICAL INDUSTRIES LTD.

• Chiasma, Inc.

• Peptron, Inc.

• WOCKHARDT

• Dauntless Pharmaceuticals

• Pfizer Inc.

• Ionis Pharmaceuticals, Inc.