The Global Acromegaly Treatment Market was estimated at USD 1.4 billion in 2018. The market is expected to register a CAGR of 7.52% over forecast period 2020-2026, owing to factors like prevalence of genetic diseases, changing lifestyle, rising awareness leading to rise in rates of screening and radio labelled imaging technologies providing cost efficiency.
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Acromegaly condition is termed as a prolonged disorder caused by hormonal imbalance that results out of imbalance production of hormone in the body. A majority of acromegaly cases have resulted due to formation of noncancerous tumor in pituitary gland within the inferior of brain that triggers the hormone production in the body. Common symptoms are visual problems, fatigue, sleep apnea, oily skin and excessive sweating, enlargement of hands and feet and changes in facial features. At elevated levels, the growth hormone may put the patients at the risk of developing cardiovascular disease, hypertension, diabetes and colon cancer. The treatment for acromegaly condition include lowering growth hormone and insulin levels. For instance, surgery, medical and radiation therapy are known to harmonize the hormone levels. It is also essential for patients to frequently monitor their hormone levels at regular intervals even after acquiring the treatment mode. For instance, doctors recommend a frequent measure in the hormone levels post surgery which is then conducted by a routine follow-up for 6 months. Liver function abnormalities and infrequent development of fatty tissues beneath the skin are some of the common side effects observed.
Acromegaly Treatment Market Trends, Drivers and Opportunities:
The market is highly driven by rise in prevalence of genetic diseases occurring out of hormonal imbalance. In addition, increase in incidences of hormonal diseases such as endocrine disruption and hypopituitarism is expected to support the market growth in the forecast period. Technological advancements followed by government initiatives are anticipated to enhance growth opportunities for major vendors in the global market. Ongoing research and development and development of pipeline drugs are more likely to pump the market growth for acromegaly treatment. Government initiatives pertaining to reimbursement scenarios is more likely to result in a robust market growth. For instance, in the U.S. and Europe various healthcare organizations are offering subsidized medicines for treatment of rare diseases.