The global biosimilar hormones market size is expected to grow from $1.74 billion in 2021 to $2.31 billion in 2022 at a compound annual growth rate (CAGR) of 32.5%. The growth in the market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The biosimilar hormones market is expected to reach $6.22 billion in 2026 at a CAGR of 28.1%.
What is the Global Biosimilar Hormones Market?
The biosimilar hormones market consists of sales of biosimilar hormones by entities that engage in manufacturing biosimilar hormones. These hormones are used when patients have a drop in hormones in their bodies or are unbalanced. Only goods and services traded between entities or sold to end consumers are included.
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What drives the Global Biosimilar Hormones Market?
The prevalence of deficiencies in growth hormones and metabolic hormones contributes to the market. The treatments required for hormone-related conditions are evolving over the years and the prevalence of hormonal deficiencies is generating higher demand for the hormone biosimilars market. For instance, according to the Italian Journal of Pediatrics, the prevalence of growth hormone deficiency (GHD) in childhood widely varies between 1 out of 3480 and 1 out of 30,000 children annually. In children, the growth hormone can influence bone mineralization and lead to several metabolic effects, including glucose and lipid homeostasis. Annually, about 6,000 adults are diagnosed with growth hormone (GH) deficiency in the USA. The growing need to treat patients with prevailing hormonal deficiencies drives the biosimilar hormones market.
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Global Biosimilar Hormones Market Segments
The global biosimilar hormones market is segmented:
By Type: Teriparatide Biosimilars, Follitropin Alfa Biosimilars, Insulin Biosimilars, Somatropin Biosimilars, Others
By Application: Research and Biotechnology, Diagnostics, Biocatalysts, Therapeutics, Others
By Distribution Channel: Hospital and Retail Pharmacy, Online Pharmacy/ePharmacy, Specialty Clinics
By Geography: The regions covered in the biosimilar hormones market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Biosimilar Hormones Global Market Report 2022provides market size and growth forecasts for the global biosimilar hormones market, global biosimilar hormones market share, biosimilar hormones market segments and geographies, biosimilar hormones market competitive landscape including leading competitors’ revenues, profiles and market shares. The biosimilar hormones market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Biosimilar Hormones Industry Playersinclude Teva Pharmaceutical, Gedeon Richter, Intas Pharmaceuticals, Biocon, Mylan, Sanofi, Sandoz (Novartis), LG Life Sciences, Ferring Pharmaceuticals, and GC Pharma. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
