Dublin, Oct. 04, 2023 (GLOBE NEWSWIRE) -- The "Somatropin Market, By Dosage Form, By Application, By Distribution Channel, and By Region (North America, Latin America, Europe, Asia Pacific, Middle East and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
Global somatropin market is projected to reach a value of $6.3 billion by 2030 from $3.85 billion in 2022, growing at a CAGR of 7.3%
This report provides in-depth analysis of the global somatropin market, and provides market size (US$ Billion) and Compound Annual Growth Rate (CAGR%) for the forecast period (2023-2030), considering 2022 as the base year
Somatropin injections serve as a crucial treatment for individuals, both adults and children, dealing with growth hormone deficiency. They can also aid in promoting growth in children facing specific growth and development challenges. These injections are available in two forms: as a ready-to-use liquid solution in dosing pens or cartridges and as a powder in vials and cartridges, which requires mixing with a liquid for subcutaneous (under the skin) injection.
For adults requiring growth hormone replacement, somatropin injections are typically administered once a day. Additionally, somatropin injections like Serostim can help increase body weight and physical endurance in individuals with HIV who experience HIV-associated wasting syndrome. Somatropin injections like Zorbtive are employed in the treatment of short bowel syndrome in adults receiving supplemental nutrition or fluids via intravenous (IV) therapy.
Somatropin, an analog of human growth hormone (hGH), functions by substituting the naturally occurring growth hormones within the body. This replacement can lead to enhanced growth, increased body weight, and improved absorption of nutrients and fluids from the intestines.
When used to replace or stimulate growth in children, somatropin injections are typically administered once daily for 3 to 7 days each week. The global somatropin market is poised for growth, thanks to the rising number of product approvals by regulatory agencies and the positive long-term effects of growth hormone therapy on children with growth hormone deficiency.
A notable development in this market was witnessed in January 2022 when Ascendis Pharma A/S, a pharmaceutical manufacturer, received marketing authorization from the European Commission (EC) for Lonapegsomatropin Ascendis Pharma, developed under the name TransCon hGH.
This approval allows for its use as a once-weekly subcutaneous injection to treat children and adolescents aged 3 to 18 years with growth failure due to insufficient secretion of endogenous growth hormone, also known as growth hormone deficiency (GHD).
TransCon hGH, functioning as a prodrug of somatropin, ensures sustained release of unmodified somatropin (hGH) at consistent therapeutic levels in the body, marking a significant advancement in the field.
Key features of the study:
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global somatropin market based on the following parameters-company highlights, products portfolio, key highlights, financial performance, and strategies
- Insights from this report will allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- Global somatropin market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global somatropin market
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 240 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $3.85 Billion |
| Forecasted Market Value (USD) by 2030 | $6.3 Billion |
| Compound Annual Growth Rate | 7.3% |
| Regions Covered | Global |
Company Profiles
- Novo Nordisk A/S
- Pfizer, Inc.
- Eli Lilly and Company
- Changchun Gene Science Pharmaceutical Co., Ltd.
- Sandoz International GmbH
- Ipsen Pharma
- LG Chem
- Merck KGaA
- Genentech, Inc.
- Ferring B.V.
- AnkeBio Co., Ltd
- Reliance Life Sciences
- JCR Pharmaceuticals Co., Ltd
- Zhongshan Sinobioway Hygene Biomedicine Co., Ltd
- USV Private Limited
Detailed Segmentation:
Global Somatropin Market, By Dosage Form:
- Powder
- Solvent
Global Somatropin Market, By Application:
- Growth Hormone Deficiency (GHD)
- Turner Syndrome
- Chronic Renal Insufficiency
- Prader Willi Syndrome
- Small for Gestational Age
- SHOX Deficiency
- Others
Global Somatropin Market, By Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
Global Somatropin Market, By Region:
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- GCC
- Israel
- Rest of Middle East
- Africa
- South Africa
- Central Africa
- North Africa
For more information about this report visit https://www.researchandmarkets.com/r/wn4dtw
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