10 March 2021
Visiongain has published a new report on Acromegaly Treatment Market Report to 2031: Forecasts By Disease Type (Ectopic Acromegaly and Pseudo Acromegaly), By Drug Class (Somatostatin Analogs (SSAs) (Somatuline Depot and Other SSAs), Dopamine Agonists (Bromocriptine Mesylate and Other Dopamine Agonists), and Growth Hormone Receptor Antagonist (Somavert)), By Route of Administration (Oral and Parenteral), and By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online pharmacies) PLUS COVID-19 Recovery Scenarios.
Global Acromegaly Treatment market size is projected to reach US$ XX Million in 2021 and is expected to display strong revenue growth through to 2031.
COVID-19 Impact on Acromegaly Treatment Market
The COVID-19 virus is significantly disturbing the care of chronic conditions worldwide. Acromegaly is an uncommon disorder with a frequency extending between 2.8–13.7 cases/100.000 people. Acromegaly management needs a multidisciplinary team of health care professionals (HCPs), primarily comprising neurosurgeons, endocrinologists, and specialized endocrine nurses. Regular sessions, mostly during the initial stages of the disease, and pre/post-surgery are essential. Moreover, injectable somatostatin receptor ligands may require HCP provision to administer. These treatments are expected to be impacted throughout the current pandemic. Visiongain has analyzed the present short and long-term effects on the accountable care solutions market. This report will help to develop strategies for companies by region/countries.
Increasing Prevalence of Acromegaly
The global acromegaly treatment market is driven by the growing occurrence of genetic disorders arising out of hormonal imbalance. Besides, the growth in hormonal diseases such as endocrine disruption and hypopituitarism is projected to aid the target industry growth in the given timeframe. A survey by the National Organization for Rare Disorders (NORD), acromegaly disease affects men and women equally. It occurs in around 50 to 70 people per million per year.
Ongoing clinical trials
Ongoing research & development and clinical trials for pipeline drugs are pushing the acromegaly treatment industry growth further. Government initiatives about reimbursement circumstances are favoring the target industry growth. For instance, in the U.S. and Europe, many healthcare organizations are contributing to the subsidized pharmaceutical drugs for the treatment of rare diseases including acromegaly.
Novel drugs in the market broaden the options of treatments for doctors and patients. For instance, in March 2019, Crinetics Pharmaceuticals, Inc. conducted a clinical trial Phase two program comprises two distinct trials: ACROBAT EVOLVE and ACROBAT EDGE. The company is treating the first patients with acromegaly disease. These trials are being conducted simultaneously across the U.S. and the European Union. On the other hand, in March 2019, Pfizer was also conducting clinical trials for SOMAVERT in patients with acromegaly.
Growing Awareness and Rising Spending in the Research & Development
The key factors pushing the growth of the acromegaly treatment market are the prevalence of acromegaly disease around the world. Besides, increased disposable income in developing countries such as India and China and rising healthcare spending along with the growing acceptance of non-invasive treatment are also accelerating the growth of the acromegaly treatment market. Moreover, rising awareness among the population and the development of healthcare infrastructure are contributing to the target industry growth.
The rising research & development activities to develop ground-breaking and effective treatments for acromegaly is fueling the target industry growth. In recent times, numerous methods have been advanced to help in the initial diagnosis and observation of acromegaly and its related complications. These developments in acromegaly disease diagnosis have increased the number of patients detected with this illness and give better treatment options. Hence, it is expected to achieve a noteworthy growth rate in the given time frame.
Key players operating in the global Acromegaly Treatment market are Pfizer Inc., Strongbridge Biopharma plc, Aegis Therapeutics LLC, GlaxoSmithKline plc, Novartis Pharma AG, Midatech Pharma PLC, Chiasma Inc., Crinetics Pharmaceuticals Inc, Amryt Pharma plc, Dauntless Pharmaceuticals Inc., Antisense Therapeutics Ltd, and Ipsen Biopharmaceuticals Inc.
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