LONDON, March 13, 2024 (GLOBE NEWSWIRE) -- As per The Business Research Company’s Acromegaly Global Market Report 2024, the acromegaly market is on a rapid growth trajectory, with substantial increases anticipated in the coming years. From $1.79 billion in 2023, it is forecasted to reach $2.15 billion in 2024, boasting a compound annual growth rate (CAGR) of 19.8%. The growth momentum is expected to continue, with the market projected to expand to $4.17 billion by 2028, at a CAGR of 18.1%.
Driving Factors: The surge in the prevalence of genetic abnormalities is a key driver propelling the growth of the acromegaly market. Genetic defects, including those linked to acromegaly, are contributing significantly to the rising incidence of this condition. The excessive production of growth hormone (GH) by the pituitary gland, often associated with genetic abnormalities, underscores the urgent need for effective treatments and interventions.
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Major Players and Innovations: Leading companies in the acromegaly market such as Pfizer Inc., Johnson & Johnson Private Limited, and Merck & Co Inc. are spearheading efforts to develop innovative products and solutions to address acromegaly. For example, Advanz Pharma Corp. recently launched Mytolac (lanreotide), the first generic lanreotide for acromegaly treatment, in Germany. Similarly, Xeris Pharmaceuticals Inc. acquired Strongbridge Biopharma PLC, enhancing its position in endocrinology and neurology.
Segmentation:
- Type:
- Ectopic Acromegaly
- Acromegaly Due To Growth Hormone
- Diagnosis:
- GH And IGF-I Measurement
- Growth Hormone Suppression Test
- Imaging
- Other Diagnosis
- Route Of Administration:
- Oral
- Parenteral
- Other Route Of Administrations
- Treatment:
- Medication
- Somatostatin analogues
- Dopamine Agonists
- Growth Hormone Antagonist
- Surgery
- Radiation
- Other Treatments
- End Users:
- Hospitals
- Specialty Clinics
- Homecare
- Other End Users
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To capitalize on the growth opportunities presented by the acromegaly market, stakeholders can leverage comprehensive market insights and strategic recommendations provided in the report. By gaining a deeper understanding of acromegaly market dynamics, competitive landscape, and emerging trends, companies can formulate informed strategies for product development, market expansion, and partnerships. Additionally, insights into major players' strategies and innovations can inspire collaborative efforts and foster a competitive edge in the rapidly evolving acromegaly market landscape.
Acromegaly Global Market Report 2024 by The Business Research Company provides insights on the acromegaly market size, acromegaly market segments, acromegaly market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
The Business Research Company has published over 7,500+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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