Global Somatropin Market Outlook 2020 | Industry Analysis, Business Strategies and Forecast to 2027
The global Somatropin market is studied in detail in the new report on Qualiket Research. The new report studies the Somatropin market by profiling its major driving factors and restraining factors, compiling a comprehensive database on the market’s historical growth trajectory and present conditions, and by using easy formulation of calculations and estimations through the use of industry-leading analytical tools and methods. The key economic factors affecting the global Somatropin market are studied in detail in the global Somatropin market report, including a detailed assessment of the microeconomic and macroeconomic environment of the market.
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Somatropin is a human growth hormone indicated for the treatment of growth hormone deficiency in adults and children. Also, it is used for treatment of Prader-Willi syndrome, Chronic Renal Insufficiency, Turner syndrome Turner syndrome, and others. Somatropin stimulates tissue growth, and protein, lipid, carbohydrates and mineral metabolism in the body.
Market Drivers
Rise in approvals of somatropin products by regulatory authorities such as USFDA (Food and Drug Administration) is the key driving factor which is expected to boost the global somatropin market growth. For instance, in July 2018, U.S. Food and Drug Administration had approved ZOMACTON, a Somatropin injection of Ferring Pharmaceuticals Inc, for additional pediatric indications such as Idiopathic short stature (ISS), Growth failure in short stature homeobox-containing gene (SHOX) deficiency, Short stature born small for gestational age (SGA) with no catch-up growth by 2 to 4 years, and Short stature due to Turner syndrome. Furthermore, increase in prevalence of growth hormobe deficiency in children will positively contribute the market growth over the forecast period. As per article published in the Springer Nature Journal in Feb 2017, the prevalence of GHD (Growth Hormone Deficiency) in children is within range 1.8 -2.9 per 10,000 children in Europe and the U.S.
Market Restraints
However, key manufacturers are focused on developing advanced alternative treatments for growth hormone deficiency is the major challenging factor which is expected to hinder the global somatropin market growth. For instance, in October 2019, OPKO Health and Pfizer had announced the results of Phase III clinical trials, which was initiated to evaluate the efficacy and safety of somatrogen, which is long acting human growth hormone molecule administrated once in a week for growth hormone deficiency.
Market Key Players
Various key players are discussed in this report such as Novo Nordisk A/S, Eli Lilly and Company, Pfizer, Inc., GeneScience Pharmaceuticals, Ipsen Inc.,Sandoz International, LG Life Sciences, Merck, Hoffmann-La Roche, and Teva Pharmaceuticals.
Market Taxonomy
By Dosage Form
- Powder
- Solvent
By Application
- Growth Hormone Deficiency (GHD)
- Turner Syndrome
- Chronic Rental Insufficiency
- Prader Willi Syndrome
- SHOX Deficiency
- Others
By Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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