U.S. Acromegaly Drugs Market, By Disease Type, (Pseudoacromegaly, Ectopic Acromegaly), Drug Class, (Somatostatin Analogues, Growth Hormone Receptor Antagonists, Dopamine Agonists), Drugs Type (Branded Generic), Route of Administration (Parenteral, Oral), End User (Hospitals, Specialty Clinics, Homecare, Others), Distribution Channel (Hospitals Pharmacy, Retail Pharmacy, Online Pharmacy) Industry Trends and Forecast to 2027
Market Analysis and Insights : U.S. Acromegaly Drugs Market
U.S. acromegaly drugs market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses that the market is growing with a CAGR of 6.4% in the forecast period of 2020 to 2027 and expected to reach USD 973.67 million by 2027. Growing prevalence of acromegaly and growing awareness of acromegaly are the major drivers which propelled the demand of the market in the forecast period.
The U.S. acromegaly drugs market is growing primarily due to increasing focus on the high prevalence of the acromegaly. The availability of wide variety of treatments and presence of several companies focusing on development of acromegaly drugs is also acting as significant growth factors for the market.
Acromegaly drugs market comprises features such as strategic initiatives by market players will impact in launching new product by the manufactures into the market which enhance its demand as well as technological advancements has enhanced the demand of acromegaly drugs. Currently various research studies are taking place which is expected to create a competitive advantage for manufacturers to develop new and innovative and advanced acromegaly drugs which expected to provide various other opportunities in the acromegaly drugs market. However, the lack of early detection and complication associated with treatment expected to restraint the market growth in the forecast period. The treatment of acromegaly includes multiple types of therapies with advance drug such as somatostatin analogs (SSAs), growth hormone receptor antagonists (GHRAs) and dopamine agonists. However the treatment of acromegaly is very expensive which is hampering the demand of the market. Growing number of dentistry anticipated to escalate the diagnosis of acromegaly disease. Consequently it is estimated that the U.S. acromegaly drugs market will rise up in the coming years.
The acromegaly drugs market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
U.S. Acromegaly Drugs Market Scope and Market Size
Acromegaly drugs market is segmented on the basis of disease type, drugs class, drugs type, route of administration, end user and distribution channel. The growth among segments helps you to analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of disease type, the U.S. acromegaly drugs market is segmented into ectopic acromegaly and pseudoacromegaly. In 2020, ectopic acromegaly segment expected to dominate the market due to the huge number of diseases as compared to pseudoacromegaly.
- On the basis of drugs class, the U.S. acromegaly drugs market is segmented into somatostatin analogues, growth hormone receptor antagonists and dopamine agonists. In 2020, somatostatin analogues segment is dominating the acromegaly drugs market as the drugs are the first line therapy for the acromegaly treatment and most of the marketed drugs are somatostatin analogs.
- On the basis of drugs type, the U.S. acromegaly drugs market is segmented into branded and generics. Branded segment is sub-segmented into somatuline depot, somavert, signifor and others. In 2020, the branded segment is dominating the acromegaly drugs market due to large number of branded drugs launched and its high penetration as prescription drugs.
- On the basis of route of administration, the U.S. acromegaly drugs market is segmented into parenteral and oral. Parenteral segment is sub-segmented into subcutaneous, intramuscular and intravenous. In 2020, parenteral segment is dominating the acromegaly drugs market due to somatostatin analogues being generally well tolerated and capable of achieving long-term biochemical control in patients with somatostatin-sensitive tumors.
- On the basis of end user, the U.S. acromegaly drugs market is segmented into hospitals, specialty clinics, homecare and others. In 2020, hospitals segment is dominating the acromegaly drugs market as due to the number of diagnostic and surgical procedures performed at these stations. In addition, advanced diagnostic facilities and the availability of surgeons contribute to its largest market share.
- On the basis of distribution channel, the U.S. acromegaly drugs market is segmented into hospitals pharmacy, retail pharmacy and online pharmacy. In 2020, hospitals pharmacy segment is dominating the acromegaly drugs market as they have extensive footprints in several hospitals to influence patient care and also have interdisciplinary interactions at many levels that improve service.
The country section of the U.S. acromegaly drugs market 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 such as sales, FDA approvals, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global branded and generic drug manufacturers and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Growing Prevalence of Acromegaly is Propelling the Market Growth
U.S. acromegaly drugs market also provides you with detailed market analysis for prevalence of acromegaly, while prevalence of acromegaly is increasing in United States and rest of the world from last few years. The data is available for historic period 2010 to 2018.
Competitive Landscape and Acromegaly Drugs Market Share Analysis
U.S. acromegaly drugs 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, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the companies’ focus related to U.S. acromegaly drugs market.
The major players covered in the U.S. acromegaly drugs market report are Novartis AG, Mylan N.V., Ipsen Pharma, Pfizer Inc., Fresenius Kabi USA (A Subsidiary of Fresenius Kabi AG), Zydus Pharmaceuticals Inc. (A Subsidiary of Zydus Cadila), Par Pharmaceuticals (A Subsidiary of Endo International plc), Hikma Pharmaceuticals PLC, Teva Pharmaceuticals USA, Inc. (a subsidiary of Teva Pharmaceutical Industries Ltd.), Chiasma, Inc., Ingenus Pharmaceuticals, LLC, Recordati Rare Diseases (a subsidiary of RECORDATI S.p.A.), Sun Pharmaceutical Industries Ltd. and Sagent Pharmaceuticals, Inc. (A Subsidiary of Nichi-Iko Pharmaceutical Co., Ltd.) among others. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many product launch, approval, partnership and agreement are also initiated by the companies’ worldwide which are also accelerating the U.S. acromegaly drugs market.
- In January 2020, Novartis AG announced the acquisition of the Medicines Company through the consummation of a merger of its indirect wholly-owned subsidiary, Medusa Merger Corporation. This acquisition has provided unique opportunity to expand the presence of Novartis AG’s products across the world.
- In November 2019, Novartis AG acquired The Medicines Company to acquire the U.S. based biopharmaceutical company. This acquisition has been estimated to raise the company presence in the U.S. market. Consequently, it will propel the revenue growth of the company.
Collaboration, joint ventures and other strategies by the market player is enhancing the company market in the U.S. acromegaly drugs market which also provides the benefit for organisation to improve their offering for acromegaly drugs.