According to the report by Expert Market Research (EMR), the global Acromegaly Treatment Market Share reached a value of USD 1.61 billion in 2022. Aided by the accelerating technological advancements in healthcare and increasing investment in research and development, the market is projected to further grow at a CAGR of 7.65% between 2023 and 2031 to reach a value of USD 3.12 billion by 2031.
Acromegaly is a hormonal disorder that usually results from an excess of growth hormone produced by the pituitary gland, leading to progressive enlargement of body parts. The treatments primarily include surgery, medications, and radiotherapy, which can effectively reduce the symptoms and complications associated with the disorder. Technological advancements, coupled with continuous research, have been pivotal in the development of new therapeutic options and diagnostic techniques for acromegaly.
The rising prevalence of hormonal disorders, including acromegaly, drives the global acromegaly treatment market growth. Furthermore, the growing awareness of the disease and its complications, enhanced by health education programs, has led to an increase in early diagnosis and treatment. This trend is expected to contribute significantly to market expansion during the forecast period.
The expanding applications of various acromegaly treatments in the pharmaceutical industry are significantly accelerating the acromegaly treatment market development globally. For instance, somatostatin analogues, used as first-line medical therapy for acromegaly, are also employed in the management of neuroendocrine tumours and symptoms of carcinoid syndrome.
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Moreover, technological advancements in the healthcare sector play a vital role in bolstering the acromegaly treatment market. Improved surgical techniques, such as minimally invasive surgery and the development of novel drug therapies, have increased the success rate of acromegaly treatment, which in turn fuels market growth.
Further, the expanding investment in research and development activities for acromegaly treatment is fostering the acromegaly treatment market expansion. Major pharmaceutical companies are actively engaging in research to develop more effective therapeutic options with fewer side effects. These efforts are paving the way for the discovery of novel treatment methods that can significantly enhance the quality of life for acromegaly patients, thereby providing a positive outlook for the global acromegaly treatment market.
The market can be divided based on diagnosis type, treatment type, diseases type, route of administration, treatment centres, treatment channel, distribution channel, and region.
Market Breakup by Diagnosis Type
- GH and IGF-I Measurement
- Growth Hormone Suppression Test
- Spine x-ray
- MRI of the brain, including the pituitary gland
Market Breakup by Treatment Type
- Somatostatin analogues
- Dopamine agonists
- Growth hormone antagonist
- Radiation Therapy
Market Breakup by Disease Type
- Ectopic Acromegaly
- Acromegaly Due to Growth Hormone
Market Breakup by Route of Administration
Market Breakup by Treatment Centres
- Speciality Clinics
- Homecare Settings
- Rehabilitation Centres
Market Breakup by Treatment Channel
Market Breakup by Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
Market Breakup by Region
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global acromegaly treatment companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- Hoffmann-La Roche Ltd.
- Mylan N.V.
- Teva Pharmaceutical Industries Ltd.
- Pfizer Inc.
- GlaxoSmithKline plc.
- Novartis AG
- Merck & Co., Inc.
- Johnson & Johnson Private Limited
- Hikma Pharmaceuticals PLC.
- Bristol-Myers Squibb Company
- Bayer AG
- Boehringer Ingelheim International GmbH.
- Reddy’s Laboratories Ltd.
- Gilead Sciences, Inc.
- Eli Lilly and Company
- AbbVie Inc.
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