Global Acromegaly Treatment Market Share, Size, Trends, Industry Analysis Report, By Drug Type (Somatostatin Analogs, GHRA, Others), By End-use (Hospitals & Clinics, Others) and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America), Global Economy Insights, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast Till 2032.
The report offers the value (in USD Billion) for the above segments.
The growing need for cutting-edge treatment substitutes is a result of the disease's rising incidence, which encourages the creation of innovative compounds. Pharmaceutical companies continually invest in R&D to create novel medicine formulations and administration methods for the ones currently on the market.
Rising demand is anticipated in the coming years as a result of the prevalence of hereditary illnesses and evolving lifestyles. The incidence of hormonal disorders such hypopituitarism and endocrine disorders is expected to rise, which is expected to encourage the growth even further. Government assistance & technological improvements should provide market players with opportunities for growth.
The main element influencing the market for acromegaly treatments is a robust pharmacological pipeline. For instance, the FDA is anticipated to approve two growth hormone receptors antagonists and seven somatostatin analogues by 2027. A growth platform for this market is anticipated to be provided by the introduction of technologically enhanced detection techniques like radiosurgery and radiolabeled imaging technologies that offer cost efficiency and little side effects.
Government insurance policies and programmed that are beneficial to patients having rare diseases are another important driver in the market's expansion. Examples include the National Institutes of Health (NIH) & the National Centre for Advancing Translational Sciences (NCATS), which are among the numerous government healthcare organizations in the U.S. and Europe that provide subsidized medications for rare diseases. In Japan, acromegaly is regarded as an incurable condition, and all medical expenses are covered by insurance. The aforementioned efforts are anticipated to speed up growth in the near future.
A recent market research report added to repository of Intellectual Market Insights Research is an in-depth analysis of Global Acromegaly Treatment Market. On the basis of historic growth analysis and current scenario of Acromegaly Treatment market place, the report intends to offer actionable insights on global market growth projections. Authenticated data presented in report is based on findings of extensive primary and secondary research. Insights drawn from data serve as excellent tools that facilitate deeper understanding of multiple aspects of global Acromegaly Treatment market. This further helps users with their developmental strategy.
This report examines all the key factors influencing growth of global Acromegaly Treatment market, including demand-supply scenario, pricing structure, profit margins, production and value chain analysis. Regional assessment of global Acromegaly Treatment market unlocks a plethora of untapped opportunities in regional and domestic market places. Detailed company profiling enables users to evaluate company shares analysis, emerging product lines, pricing strategies, innovation possibilities and much more.
The report covers the all the aspects of industry with dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give clear futuristic view of the industry to the decision makers.
Global Acromegaly Treatment Market is segmented on the basis of
Analysis by Drug Type
With a 44.5% revenue share, the somatostatin analogues sector commanded the biggest market share in 2022. For decades, somatostatin analogues have been the preferred treatment option by medical professionals because of their cost-effectiveness and broad availability. Well-known medications like Novartis's Sandostatin LAR & Signifor LAR and Ipsen Pharma's Somatuline Depot have been recommended. The lack of generic competitors to Sandostatin LAR allowed it to maintain a strong market position even after its patent expired in 2014. After four years of development, the FDA approved Chiasma's oral somatostatin analogue, MYCAPSSA, in June 2020. With a strong pipeline of medications like MYCAPSSA oral by Chiasma Inc., CRN00808 by Crinetics Pharmaceuticals, and Somatuline Autogel by Ipsen Pharma projected to receive approval in the upcoming years, the market expects significant growth. The only Growth Hormone Receptor Antagonist (GHRI) on the market right now is Pfizer Inc.'s SOMAVERT (Pegvisomant). Even though its patent expires in 2017 in the United States and five European nations, there won't be much of an influence on the market because there isn't much generic competition.
Analysis by End-use
In 2022, the hospitals & clinics segment commands maximum position in the market, worth around 70%. Such significant dispensation is explained by a huge number of diagnostic procedures and surgical technologies carried out in such institutions. High tech diagnostic equipment along with skilled surgeons are two other aspects that stand out this segment amidst its competitors. Nevertheless, the rapid expansion of this group may encounter limitations given the insufficient public comprehension and diagnostic delays pertaining to the disease. On the other hand, the latter group represents the participation of governmental organizations and private enterprises. In 2016, research was accomplished of Chinese government hospitals based on machine learning, in which the research detected 527 cases of acromegaly by using facial photographs. This is a revolutionary technique that has motivated early detection worldwide through the process of avoiding the challenges caused by late diagnosis.
The strong demand for cutting-edge goods in North America is anticipated to contribute significantly to the region's market share in the global acromegaly treatment market. Based on 13 studies examining the prevalence of acromegaly, the National Institutes of Health (NIH) and Endocrine Society estimate that approximately 24,000 people in the US have acromegaly, with 8,000 of those individuals receiving long-term injections of somatostatin analogue.
The development of medications for the treatment of acromegaly is also being aided by the existence of leading pharmaceutical and biotech companies in the market. For example, in June 2021, Crinetics Pharmaceuticals, Inc., a clinical-stage pharmaceutical company dedicated to finding, creating, and promoting innovative treatments for uncommon endocrine disorders and tumours associated with endocrine systems, announced the randomization of the first patient with acromegaly in its Phase 3 clinical trial of paltusotine, PATHFNDR-1. Together, these two Phase 3 trials will examine the safety and effectiveness of once-daily oral paltusotine in acromegaly patients, covering a wide range of patients. This trial is one of the two planned studies in this area.
Increasing Prevalence and Incidence of Acromegaly and Pituitary Tumors
In recent years, there has been a dramatic increase in the rates and frequency of overexpression of few growth hormone thereby making the growth hormone (GH) excessively produced which leads to a very rare endocrine condition called ameegaly. The principal cause in Italy is benign pituitary adenomas, that are tumours of the pituitary gland that over produces and release somatotrophin that leads to acromegaly. The utilization of advanced diagnosis techniques, the improved knowledge among medical specialists, and probably the changes of environmental and lifestyle factors are the main reasons for the growth of the rate of cases. Acromegaly cases who were not able to be diagnosed earlier can now be picked up because of the advanced diagnostic techniques that are the use of more sophisticated imaging technologies like MRI, and once that of the specialists in pituitary diseases has increased. The individuals who do not have a medical diagnosis at the moment but are now exposed to the procedure are being found and treated with early medical attention. Also, better diagnosis leads from medical professional 's experience and awareness of specific historical and physical symptoms of this disease. These days, the appearance of symptoms (such as enlarged palms and soles, facial changes, joint discomfort and metabolic disorders) is not overlooked that results in more identification, research, and diagnostics.
Moreover, the rising pathology of pituitary tumor might be due to the changes seen in the type of lifestyle like dieting, exercise regimen and environmental toxins exposure. Pituitary tumours are likely to grow frequently in obese people, and this is linked to insulin resistance and the altered level of hormones. Nevertheless, the exact mechanisms through which these occurrences are driven are not known.
Growing Awareness Regarding Acromegaly Disease Worldwide
Local or international awareness of the big not only diseases, including acromegaly, but also of other endocrine disorders is of great importance for the timely diagnosis assessment and effective treatment of these rare disorders. There has been a recent collaboration between healthcare professionals, patient advocacy groups and educational institutions with the overarching goal of heightening the public's awareness of what acromegaly is as well as its related symptoms. Progress in this area has been greatly boosted by several components, some of which include recent breakthroughs in medical research, accurate diagnostic techniques and the patient groups and the healthcare service providers’ advocacy.
One of the major reasons for promoting awareness though is an extension of teaching programs on both healthcare experts and the general public. The medical conferences, seminars, and online resources have played the significant role of translation of information on the signs, symptoms, and risk factors to the general public in the same time exposing the importance of early detection and treatment. Also, patient’s advocacy groups have become the core component that is relied upon to raise awareness and education through sharing of personal stories, providing support systems, and advocating for the availability of medical care and related resources for individuals with acromegaly.
Indeed, improvements in the technology of medicine, including magnetic resonance imaging (MRI) and the use of biochemical assays to measure the extent of growth hormone increase, have led to earlier diagnosis and better control of the condition of the patients with acromegaly. Such knowledge has been a starting point for a better understanding of the disease by healthcare professionals and the outcomes of the lives of patients have been improved by putting up timely interventions and management strategies.
Awareness is a key element that continues to grow, and with that efforts aiming to eliminate the stigma towards Acromegaly and replace it with empathy and comprehension towards patients, are also gaining pace. Nurturing an enlightened and supportive society, patients with acromegaly can make informed decisions, leading to earlier visits to the doctor, strict implementation of treatment programs, and overall comfortable living.
Complications Associated with the Treatment
In most cases, the treatment of acromegaly and pituitary tumors involves a blend of three therapies: surgery, medical therapy, and radiation, where applicable. Despite the fact that these treatment modalities are widely accepted to be the leading means of controlling symptoms and combating the disease, there are also a number of serious side effects that may arise as a result.
Surgery is the primary method of treatment for pituitary adenomas. It carries risks such as the chances of bleeding, infection, around structures that include the surrounding organs, including the pituitary gland itself and nearby nerves, as well as the cerebrospinal fluid leak. Nonetheless, even neuroradiologists with great abilities sometimes can’t attain the complete removal of the tumor thus creating a possibility of recurrence with further intervention being required.
Inhibition of growth hormone production and action by medications like somatostatin analogs and dopamine agonists precedes many gastrointestinal difficulties like nausea and fatigue and the most severe problems like gallstones, liver failure and heart dysfunctions. On the top of that, adjustment of medication dosages to assure hormone levels are in ideal range may be difficult and it will not guarantee total symptom control.
Radiation therapy can damage the surrounding brain tissue and blood vessel regardless of whether it is given outside, or in the form of stereotactic radiosurgery. Radiotherapy treatment is usually prescribed when the treatment with medication and surgery is not effective or themselves are contra-indicated. It can, however, have late effects such as pituitary hormone deficiency (hypopituitarism), cognitive decline and formation of removable brain tumor.
Rise in Minimally Invasive Surgical Techniques
In the past few years there has been an evident increasing trend in the use of the minimally invasive surgeries for the treatment of the acromegaly disease. Taking advantage of a widespread use of these techniques is one of the endoscopic transsphenoidal surgery with the assistance of an endoscope, which means accessing the pituitary gland through the nasal cavity. Unlike the old school open surgery that involves incisive entry of the internal organs and tissues causing prolonged recovery period, a minimally invasive approach offers various benefits. Such as shorter incisions, less damage to adjacent tissues, minimizing the possibility of a complication like cerebrospinal fluid leaks and infections, and shorter stays in the hospital. Furthermore, the utilization of the endoscopic procedures yields enhanced views of the operative site which contribute to more accurate resection of tumors while the functional pituitary tissue is saved. The continuous shift towards minimally invasive surgery is evidence of a larger trend in medicine towards procedures involving little or no invasive actions, which may be attributed to growing advancements in technology, progress in surgical instruments, and doctors' focus on patient-centered care. Therefore, the patients with acromegaly are provided with further therapeutic potential in terms of more rapid recovery times, better outcomes, and less risk of surgical intervention.
The competitive landscape in the Acromegaly Treatment Market is characterized by the presence of several pharmaceutical companies, research institutions, and healthcare organizations. These players strive to develop innovative treatment options, expand their product portfolios, and establish strong market positions. These companies engage in strategic initiatives, such as mergers and acquisitions, collaborations, and product launches, to strengthen their market presence and gain a competitive edge. They also invest in research and development activities to develop novel treatment options and address the unmet needs of acromegaly patients. It's important to note that the competitive landscape may evolve over time, and there may be additional players in the market beyond the ones listed above.
North America accounted for the highest xx% market share in terms of revenue in the Acromegaly Treatment market and is expected to expand at a CAGR of xx% during the forecast period. This growth can be attributed to the growing adoption of Acromegaly Treatment. The market in APAC is expected to witness significant growth and is expected to register a CAGR of xx% over upcoming years, because of the presence of key Acromegaly Treatment companies in economies such as Japan and China.
The objective of the report is to present comprehensive analysis of Global Acromegaly Treatment Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language.
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