Somatotropin Market: Introduction
- Somatotropin, also called as Growth hormone (GH) or human growth hormone, is a protein hormone of about 190 amino acids that is synthesized and secreted by cells called somatotrophs in the anterior pituitary. It helps control several complex physiologic processes, including growth and metabolism. Moreover, it is responsible for growth of all the tissues in the body including the bones.
- Somatotropin is used as a drug for both humans as well as animals
- Somatotropin is a recombinant human growth hormone used as replacement therapy in various conditions of growth failure, growth hormone deficiency, and weakness in children and adults
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Key Drivers, Restrains, and Opportunities of Global Somatotropin Market
- Somatotropin is a type of peptide hormone whose function is the production of cells, growth stimulation, and cell regeneration in the body. It has a significant role in the development of the human body. The overwhelming advantages of somatotropin are projected to drive the market during the forecast period.
- Rise in prevalence of growth hormone deficiency is likely to augment the somatotropin market in the next few years
- According to NCBI, the prevalence of hyposomatotropism (growth hormone deficiency) is estimated to be between 1 in 4000 and 1 in 10,000. An estimated 6,000 adults are diagnosed with growth hormone (GH) deficiency every year in the U.S. Adult GH deficiency has been estimated to affect 1 in 100,000 people annually.
- Advancements in technology by extensive research & development carried out by key players in the market are fueling the somatotropin market. Moreover, major players are investing heavily in the development of recombinant human growth hormone, which in turn is further boosting the market growth.
- Leading players are focused on increasing their production capacity in order to increase supply of somatotropin in rural areas
- The initiatives undertaken by various government and non-government organizations to spread information about growth hormone deficiencies have propelled the somatotropin market at a rapid pace
- The high cost associated with the somatotropin drugs or therapies and various side-effects of using somatotropin may hinder the market during the forecast period
North America to Capture Major Share of Global Somatotropin Market
- In terms of region, the global somatotropin patches market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America is expected to account for a major share of the global somatotropin market due to presence of the major market players and commercialization of growth hormone by the U.S. Food and Drugs Administration (FDA)
- The market in Europe is likely to account for a significant share due to well-established healthcare infrastructure and hub for key industry players in the region
- The somatotropin market in Asia Pacific is estimated to expand at a rapid pace during the forecast period owing to an increase in number of people suffering from growth hormone deficiency. Moreover, increase in research & development in Asia Pacific is likely propel the market in the region.
- The somatotropin drug market in Latin America is projected to expand at a rapid pace during the forecast period due to an increase in awareness among the population about growth hormone deficiency treatment
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Key Players Operating in Global Somatotropin Market
The global somatotropin market is highly concentrated due to the presence of key players. A huge number of manufacturers hold a major share in their respective regions. Growth strategies adopted by leading players are likely to drive the global somatotropin market.
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Major players operating in the global somatotropin market are listed below:
- Merck KGaA
- Pfizer Inc.
- Eli Lilly and Company
- Novartis AG
- Novo Nordisk A/S
- AnkeBio Co., Ltd
- Ipsen Pharma
- GeneScience Pharmaceuticals Co., Ltd.
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