Global Acromegaly Market – Industry Trends and Forecast to 2029

Market Analysis and Size                              

Acromegaly is a rare hormonal condition caused by the pituitary gland producing excessive amounts of growth hormone between puberty and maturity. Growth hormone, which is produced by the pituitary gland and released into the bloodstream, causes the liver to make a hormone called insulin-like growth factor-I (IGF-I), which stimulates bone and tissue growth. Excessive levels of IGF-I driven by overproduction of growth hormone might result in soft tissue and skeletal expansion. Acromegaly is most common in middle-aged people, however it can impact or develop at any age. Acromegaly is a disorder that can take a long time to recognize, and as a result, it can cause major issues and even death.

Data Bridge Market Research analyses that the acromegaly market was valued at USD 1.51 billion in 2021 and is expected to reach USD 5.81 billion by 2029, registering a CAGR of 8.00% during the forecast period of 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Report Scope and Market Segmentation

Market Definition

Acromegaly is a condition in which there is too much growth hormone (GH) in the body. The abnormal GH is generally corrected by surgery to remove the pituitary tumor that is causing this disease. Acromegaly is not always healed because the tumor is too massive to be entirely removed. Medicines and radiation (radiotherapy) may be used to treat acromegaly in this scenario. Medicines are used to treat some persons who have tumors that are too difficult to remove surgically. These drugs may stop the pituitary gland from producing GH or prevent it from acting in other parts of the body. Following treatment, you will need to see your doctor every month to ensure that the pituitary gland is functioning properly and that acromegaly has not returned. Evaluations should be done at least once a year.

Acromegaly Market Dynamics

Drivers

• Rising incidences of acromegaly

The rising incidences of acromegaly will act as a major driver that will result in the expansion of the market's growth rate. Acromegaly and pituitary tumors are becoming more common, which is fueling market expansion. According to a May 2021 study titled "Descriptive Epidemiology and Survival Analysis of Acromegaly in Korea," the average yearly incidence was 4.2 cases per million per year throughout this time span, and the prevalence was 32.1 cases per million. Acromegaly is a fascinating disease that is most commonly diagnosed in middle-aged adults and affects 5-8 people out of every 100,000 people.

• Increasing investment for healthcare infrastructure

Another significant factor influencing the growth rate of acromegaly market is the rising healthcare expenditure which helps in improving its infrastructure. Also, various government organizations aims to improve the healthcare infrastructure by increasing funding and this will further influence the market dynamics.

Furthermore, surging number of government initiatives to spread awareness and rising prevalence of genetic diseases will result in the expansion of acromegaly market. Along with this, rising level of disposable income and changing lifestyle of people will enhance the growth rate of the market. The increasing incidence of hormonal diseases, such as hypopituitarism and endocrine diseases is estimated to enhance the market's growth rate.

Opportunities

• Rise in R & D activities  

The market's growth is fueled by growing number of research and development activities. This will provide beneficial opportunities for the acromegaly market growth. Seven somatostatin analogues and two growth hormone receptor antagonists, for instance, are scheduled to be approved by the FDA by 2027. Furthermore, the introduction of technologically enhanced detection techniques such as radiosurgery and radio labelled imaging technologies that are cost effective and have little side effects is estimated to provide a growth platform for this industry.

Moreover, the market's growth is fueled by investment to develop advanced technologies and increase the number of emerging markets. These factors will provide beneficial opportunities for the acromegaly market growth.

Restraints/Challenges

On the other hand, the high cost associated with the treatment will obstruct the growth rate of acromegaly market during the forecast period of 2022-2029. The lack of healthcare infrastructure in developing economies and dearth of skilled professionals will challenge the acromegaly market. Additionally, lack of awareness among people and poor reimbursement policies will restrain and further impede the growth rate of the market during the forecast period of 2022-2029.

This acromegaly market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the acromegaly market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Patient Epidemiology Analysis

Acromegaly market also provides you with detailed market analysis for patient analysis, prognosis and cures. Prevalence, incidence, mortality, adherence rates are some of the data variables that are available in the report. Direct or indirect impact analyses of epidemiology to market growth are analysed to create a more robust and cohort multivariate statistical model for forecasting the market in the growth period. 

COVID-19 Impact on Acromegaly Market

In the last year and a half, the majority of companies around the world have been adversely affected. This may be attributed to essential interruptions in their assembling and production network activities as a result of various preliminary lockdowns as well as various constraints imposed by overseeing specialists throughout the world. A similar situation exists in the global acromegaly market. Additionally, shopper demand has reduced along these lines, as people are now quicker to eliminate superfluous charges from their budgets, as this flare-up has severely hit most people's total financial situation.

These above-mentioned factors are expected to wreak havoc on the global acromegaly market's revenue trajectory over the forecast period. However, when individual administering professionals reduce these imposed restraints, the global acromegaly market is expected to recover as demand grows.

Recent Development

• In August 2020, Chiasma, Inc. announced the commercial launch and availability of MYCAPSSA (octreotide) capsules in the United States for patients with acromegaly. MYCAPSSA (octreotide) delayed-release capsules for oral administration are a somatostatin analog intended for long-term maintenance therapy in acromegaly patients who have responded to and tolerated octreotide or lanreotide treatment.

Global Acromegaly Market Scope

The acromegaly market is segmented on the basis of type, diagnosis, complications, treatment, route of administration, end-users and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Complications

• Local
• Systemic
• CNS
• CVS
• Respiratory
• Endocrine and metabolic
• Neoplastic
• Skeletal
• Others
• Others

Type

• Ectopic Acromegaly
• Acromegaly Due to Growth Hormone

Diagnosis

• GH and IGF-I Measurement
• Growth Hormone Suppression Test
• Imaging
• Spine x-ray
• MRI of the brain, including the pituitary gland
• Echocardiogram
• Colonoscopy
• Others

Treatment

• Medication
• Somatostatin analogues
• Dopamine agonists
• Growth hormone antagonist
• Others
• Surgery
• Radiation
• Others

Route of Administration

• Oral
• Parenteral
• Others

End-Users

• Hospitals
• Specialty Clinics
• Homecare
• Others

Distribution Channel

• Hospital Pharmacy
• Retail Pharmacy
• Online Pharmacy
• Others

Acromegaly Market Regional Analysis/Insights

The acromegaly market is analysed and market size insights and trends are provided by country, type, diagnosis, complications, treatment, route of administration, end-users and distribution channel as referenced above.

The countries covered in the acromegaly market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America

North America dominates the acromegaly market because of the rising healthcare expenditure and increased high prevalence of pituitary tumor in this region. Additionally, the growing focus of major key players in research and development activities will further propel the market's growth rate.

Asia-Pacific is expected to grow significantly during the forecast period of 2022-2029 due to increased hormone related disorders and surgeries in this region. Also, development of healthcare infrastructure and large number of generic manufacturer will further propel the market's growth rate in this region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Acromegaly Market Share Analysis

The acromegaly market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to acromegaly market.

Some of the major players operating in the acromegaly market are:

• F. Hoffmann-La Roche Ltd. (Switzerland)
• Mylan N.V. (U.S.)
• Teva Pharmaceutical Industries Ltd. (Ireland)
• Sanofi (France)
• Pfizer Inc. (U.S.)
• GlaxoSmithKline plc (U.K.)
• Novartis AG (Switzerland)
• Merck & Co., Inc. (U.S.)
• Allergan (Ireland)
• AstraZeneca (U.K.)
• Johnson & Johnson Private Limited (U.S.)
• Hikma Pharmaceuticals PLC (U.K.)
• Bristol-Myers Squibb Company (U.S.)
• Bayer AG (Germany)
• Boehringer Ingelheim International GmbH. (Germany)
• Dr. Reddy's Laboratories Ltd. (India)
• Gilead Sciences, Inc. (U.S.)
• Amgen Inc. (U.S.)
• Eli Lilly and Company (U.S.)
• AbbVie Inc. (U.S.)
• Lupin (India)
• Allergan (Ireland)

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