Global Biosimilar Growth Hormones Market Outlook 2024 , Forecast To 2033
7 Mar, 2024
The biosimilar growth hormones market has experienced robust growth recently, with a rise from $0.76 billion in 2023 to $0.82 billion in 2024, reflecting a compound annual growth rate (CAGR) of 8.4%. This growth is attributed to factors such as increasing demand for growth hormones, patent expirations, and expanding clinical evidence. Looking ahead, the market is projected to reach $1.19 billion in 2028, with a CAGR of 9.8%, driven by factors including pediatric growth disorders, expanding indications, and heightened awareness of biosimilar options. Major trends in this period include pediatric-focused biosimilars and advancements in dosing convenience.
Global Biosimilar Growth Hormones Market Key Driver
The growing number of children suffering from growth hormone deficiency is driving the growth of the global biosimilar growth hormone market. Growth hormone deficiency is caused by damage to the pituitary gland or hypothalamus, which may be the result of an abnormal formation that occurred before the child was born (congenital) or something that occurred during or after birth (acquired). Growth hormone deficiency has been identified in about 1 in every 3,800 babies. Additionally, some children acquire it later in life as a result of a brain tumor, brain operation, radiation therapy, injury, or infection. Thus, an increase in the number of children suffering from growth deficiencies drives the growth of the biosimilar growth hormones industry.
Get A Free Sample Of The Global Biosimilar Growth Hormones Market ReportGlobal Biosimilar Growth Hormones Market Segments
The biosimilar growth hormones market covered in this report is segmented –
1) By Route Of Administration: Intravenous, Subcutaneous, Intramuscular, Oral
2) By Application: Growth Hormone Deficiency, Turner Syndrome, Idiopathic Short Stature, Prader Willi Syndrome, Other Applications
3) By Distribution Channel: Hospital And Retail Pharmacy, Online Pharmacy/ePharmacy, Speciality Clinics
By Geography: The countries covered in the biosimilar growth hormones market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
North America was the largest region in the biosimilar growth hormone market in 2023. The Middle East is expected to be the fastest-growing region in the biosimilar growth hormones market report during the forecast period. The regions covered in the biosimilar growth hormones market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Major Biosimilar Growth Hormones Industry Players
Amega Biotech; Biosidus S.A.; Eli Lilly and Company; Ferring Pharmaceuticals; Genetech Inc.; Merck & Co. Inc.; Novartis AG; Novo Nordisk A/S; Sanofi S.A.; USV Private Limited; Zhongshan Hygene Biopharm Co. Ltd.; Biopartners And LG Chem; Boehringer Ingelheim International GmbH; Celltrion Inc.; Coherus BioSciences Inc.; Daiichi Sankyo Company Ltd.; Dr. Reddy's Laboratories Ltd.; Gedeon Richter Plc.; Genor Biopharma Co. Ltd.; GenScript Biotech Corporation; Hetero Drugs Limited; Intas Pharmaceuticals Ltd.; LG Chem Ltd.; Lupin Limited; Mabion S.A.; Mundipharma International Limited; Oncobiologics Inc.; Panacea Biotec Limited; Pfenex Inc.; PlantForm Corporation
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Biosimilar Growth Hormones Market Overview
Biosimilar growth hormone refers to a peptide hormone that promotes cellular regeneration, cell division, and growth in both humans and other animals. Thus, it is crucial to the advancement of humanity. It is a form of mitogen that only affects particular types of cells.