Overview of Accretropin
Accretropin, also known as somatropin, is a recombinant human growth hormone (rhGH) used to treat various growth disorders and deficiencies. It is produced through recombinant DNA technology and is administered via injection.
Market Size and Growth
The global human growth hormone market, which includes Accretropin, was valued at USD 6.32 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 12.3% from 2024 to 2030[1].
Product Segmentation
The human growth hormone market is segmented into long-acting and other types of growth hormones. In 2023, the "others" segment, which includes short-acting and intermediate-acting hormones like Accretropin, accounted for 95.5% of the market share. This segment is expected to maintain steady growth throughout the forecast period[1].
Key Applications
Accretropin is primarily used for the treatment of:
- Growth Hormone (GH) Deficiency: Both in children and adults.
- Turner Syndrome: A genetic disorder affecting growth in females.
- Idiopathic Short Stature: Unexplained short stature in children.
- Prader-Willi Syndrome: A genetic disorder leading to short stature and other health issues.
- Small For Gestational Age: Children born smaller than expected due to various factors[1].
Distribution Channels
The distribution of Accretropin and other growth hormones is primarily through:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- Specialty Pharmacies
These channels ensure widespread availability and accessibility of the drug to patients[1].
Regional Outlook
North America, led by the U.S. and Canada, dominated the human growth hormone market with a revenue share of 42.27% in 2023. This dominance is attributed to growing healthcare awareness, significant government initiatives, and favorable reimbursement policies in the region. The Asia Pacific region is also expected to experience lucrative growth due to high disease burdens and increasing demand for innovative therapeutics[1].
Competitive Landscape
Key players in the human growth hormone market include:
- Pfizer Inc.
- Novartis AG
- Merck & Co., Inc.
- Eli Lilly & Co.
- Novo Nordisk A/S
These companies are focusing on growth strategies such as product launches and significant R&D investments. Emerging players like OPKO Health, Inc. are also expanding their footprint through mergers and acquisitions[1].
Financial Trajectory
The financial trajectory of Accretropin and similar growth hormones is promising due to several factors:
- Increasing Demand: Growing awareness and utilization of growth hormones for treating hormonal imbalance disorders.
- R&D Efforts: Leading pharmaceutical and biopharmaceutical companies are investing heavily in R&D to develop novel hormone therapies with long-term action and enhanced safety profiles.
- Product Launches: Recent product launches, such as the EC approval for SKYTROFA in January 2022, are driving market growth. SKYTROFA is used for the treatment of children and adolescents with growth failure[1].
Market Opportunities and Challenges
Opportunities
- Growing Incidence of Deficiencies: The increasing incidence of growth hormone deficiencies and other related disorders is driving the demand for Accretropin and similar drugs.
- Advancements in Technology: The development of long-acting growth hormones offers advantages such as reduced frequency of administration, improved patient compliance, and convenience, which are expected to boost market growth[1].
Challenges
- Side Effects and Safety Concerns: Despite the benefits, short-acting preparations like Accretropin may face challenges related to side effects, although they are generally considered to have fewer adverse effects compared to long-acting formulations.
- Regulatory and Reimbursement Issues: The market is subject to stringent regulatory requirements and varying reimbursement policies across different regions, which can impact the financial trajectory of the drug[1].
Illustrative Statistics
- The global human growth hormone market is expected to grow from USD 6.32 billion in 2023 to a significant figure by 2030, driven by a CAGR of 12.3%[1].
- The "others" segment, which includes Accretropin, accounted for 95.5% of the market share in 2023[1].
- North America holds a revenue share of 42.27% in the human growth hormone market, driven by favorable healthcare policies and significant R&D activities[1].
Quotes from Industry Experts
"Leading pharmaceutical and biopharmaceutical companies are undertaking significant R&D efforts to bring novel hormone therapies to the market. These therapies aim to provide long-term action and enhanced safety profiles, further driving the development of the market on a global scale," - Industry Analyst[1].
Recent Developments
- Product Approvals: Recent approvals such as the EC approval for SKYTROFA in January 2022 highlight the ongoing innovation in the human growth hormone market[1].
- Partnerships and Collaborations: Companies are engaging in strategic partnerships to strengthen their market presence. For example, emerging players like OPKO Health, Inc. are using mergers and acquisitions to expand their footprint[1].
Key Takeaways
- The global human growth hormone market, including Accretropin, is expected to grow significantly due to increasing awareness and R&D efforts.
- The market is driven by the demand for both short-acting and long-acting growth hormones.
- North America and the Asia Pacific region are key markets due to favorable healthcare policies and high disease burdens.
- Leading pharmaceutical companies are focusing on product launches and R&D investments to drive market growth.
FAQs
Q1: What is Accretropin used for?
Accretropin, or somatropin, is used to treat various growth disorders and deficiencies, including growth hormone deficiency, Turner syndrome, idiopathic short stature, and Prader-Willi syndrome.
Q2: How is the human growth hormone market segmented?
The market is segmented into long-acting and other types of growth hormones, with the "others" segment accounting for the largest market share.
Q3: Which region dominates the human growth hormone market?
North America, led by the U.S. and Canada, dominates the market with a revenue share of 42.27% due to favorable healthcare policies and significant R&D activities.
Q4: What are the key drivers of the human growth hormone market?
The market is driven by increasing awareness of growth hormones, R&D efforts by leading pharmaceutical companies, and the development of novel hormone therapies with long-term action and enhanced safety profiles.
Q5: What are the challenges faced by the human growth hormone market?
The market faces challenges related to side effects, regulatory requirements, and varying reimbursement policies across different regions.
Sources
- Grand View Research - Human Growth Hormone Market Size & Share Report, 2030
- BioPharm International - BioPharm INTERNATIONAL, Volume 22 Number 10 October 2009
- BioSpace - Biosimilars Market Size to Worth USD 114.02 Billion By 2031
- BioPharm International - Biopharmaceuticals: Approval Trends in 2008
- Synapse - Somatropin (Apotex, Inc.) - Drug Targets, Indications, Patents
