Global Acromegaly Market to Reach USD 2.51 Billion by 2031 | CAGR of 6.8%
Category : Pharmaceuticals And Healthcare | Published Date : Nov 2024 | Type : Press Release
Acromegaly Market Scope & Overview:
In the newly published report, Consegic Business Intelligence states that the Acromegaly Market size was valued at USD 1.48 Billion in 2023 and is projected to reach USD 2.51 Billion by 2031, growing at a CAGR of 6.8% from 2024 to 2031. Acromegaly is a rare hormonal disorder caused by excessive growth hormone production, often due to a benign pituitary tumor. This condition leads to abnormal bone and tissue growth, particularly in the hands, feet, and face, and can lead to severe health issues if untreated. Treatment typically includes surgery, medications, or radiation, with hospitals, endocrinology clinics, and research institutions serving as primary end-users.
The report comprises the Acromegaly Market Share, Size & Industry Analysis, By Drug Type (Somatostatin Analogs, Dopamine Agonists, Growth Hormone Receptor Antagonists (GHRAs), Others), By Treatment (Medications, Surgery, Radiation Therapy), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies & Drug Stores, Online Pharmacies), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa), and Forecast, 2024-2031.
The report contains detailed information on Acromegaly Market Trends, Opportunities, Value, Growth Rate, Segmentation, Geographical Coverage, Company Profile, In-depth Expert Analysis, Revenue Forecast, Competitive Landscape, Growth Factors, Restraints or Challenges, Environment & Regulatory Landscape, PESTLE Analysis, PORTER Analysis, Key Technology Landscape, Value Chain Analysis, and Cost Analysis.
Advancements in diagnostic technologies enabling early intervention are propelling market growth, while high treatment costs and limited access to therapies may hinder expansion.
Segmental Analysis :
By drug type, the market is segmented into somatostatin analogs, dopamine agonists, GHRAs, and others.
- Somatostatin analogs held the largest market share of 60.34% in 2023, driven by their effectiveness in reducing GH levels and managing tumor growth in cases unsuitable for surgery.
- Growth hormone receptor antagonists (GHRAs) are expected to register the fastest CAGR, due to their utility in patients resistant to other treatments and ongoing research into new formulations.
By treatment, the market is segmented into medications, surgery, and radiation therapy.
- Medications dominated the market in 2023 as they are often the primary choice for long-term disease management.
- Surgery is anticipated to grow at the fastest rate, propelled by advancements in minimally invasive techniques and increased demand for definitive tumor removal.
By distribution channel, the market is segmented into hospital pharmacies, retail pharmacies & drug stores, and online pharmacies.
- Hospital pharmacies held the largest share in 2023 due to their essential role in administering complex treatments for acromegaly.
- Online pharmacies are projected to grow at the fastest CAGR, driven by the increasing shift toward digital healthcare services and the convenience of home delivery.
Based on regions, the global market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
- North America held a significant share in 2023, supported by a robust healthcare infrastructure and a high rate of diagnosis.
- Asia-Pacific is expected to grow at the fastest rate, driven by improving healthcare infrastructure and diagnostic capabilities in countries like China, Japan, and India.
| Report Attributes | Report Details |
| Study Timeline | 2018-2031 |
| Market Size in 2031 | USD 2.51 Billion |
| CAGR (2024-2031) | 6.8% |
| By Drug Type | Somatostatin Analogs, Dopamine Agonists, Growth Hormone Receptor Antagonists (GHRAs), Others |
| By Treatment | Medications, Surgery, Radiation Therapy |
| By Distribution Channel | Hospital Pharmacies, Retail Pharmacies & Drug Stores, Online Pharmacies |
| By Region | North America(U.S., Canada, Mexico) Europe(U.K., Germany, France, Spain, Italy, Russia, Benelux, Rest of Europe) APAC(China, South Korea, Japan, India, Australia, ASEAN, Rest of Asia-Pacific) Middle East & Africa(GCC, Turkey, South Africa, Rest of MEA) LATAM(Brazil, Argentina, Chile, Rest of LATAM) |
Top Key Players & Competitive Landscape :
The acromegaly market is competitive, with major players focused on R&D and clinical trials to expand treatment options.
List of prominent players in the Acromegaly Industry:
- Novartis International AG (Switzerland)
- Pfizer Inc. (USA)
- Ipsen Pharma (France)
- Chiasma, Inc. (USA)
- Crinetics Pharmaceuticals (USA)
- Amolyt Pharma (France)
- Camurus AB (Sweden)
- Strongbridge Biopharma plc (USA)
- Antisense Therapeutics Limited (Australia)
- Italfarmaco S.p.A. (Italy)
Recent Industry Developments :
- In June 2023, Amolyt Pharma initiated a Phase 1 clinical trial for AZP-3813, a growth hormone receptor antagonist peptide aimed at treating acromegaly.
- In October 2021, Ipsen Pharma released positive Phase III results for osilodrostat, demonstrating effective IGF-1 normalization in acromegaly patients.
