Hormone Biosimilars Market 2022
Hormone Biosimilars Market is expected to grow at an unstoppable rate In Upcoming Years. With environmental health being a matter of concern, everything – right from public transport networks, power supply, and storage of waste to monitoring the ecological balance is being taken up by IoT and AI. It could, thus, be inferred that with “smart cities” would come “smart end-user solutions” in the years to come.
Growth hormone deficiency causes when pituitary gland does not produce the desired amount of the growth hormones. There are various disorders related to lack of growth hormones in the adults as well as children. Growth hormone deficiency is rare disorder and it can be present from the birth, genetic mutations, trauma, exposure to certain radiations, infection and tumor growth inside the brain.
The incidence of the growth hormone deficiency is reported to be around 1 in 7,000 in the U.S. The diagnosis plays major role in the management of growth hormone deficiency. Children with cleft palates are often result of growth hormone deficiency.
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The growth hormone deficiency may result in various deformities ranging from non-proportionate body organs to abnormal body functioning. Various psychological symptoms may occur such as depression, lack of concentration, poor memory and anxiety, etc. in patient with growth hormone deficiency.
Increasing early diagnosis of the growth hormone related disorder is the major driver in the growth of the growth hormone biosimilars market. The evolving methods of diagnosis of the growth hormone deficiency further expected to boost the diagnosis rate, driving the growth of growth hormone biosimilars market.
The patent expiry of various growth hormone biologics in near future expected to generate significant revenue generation in regulated markets such as North America, Europe and Japan, fueling the growth of growth hormone biosimilars market. With patent expiry various manufacturers in the growth hormone biosimilars market are looking to expand it’s product offering across various countries driving the growth of growth hormone biosimilars market.
The manufacturers in the growth hormone biosimilars market are focusing on building strong pipeline with variety of molecules further expected to drive the growth of growth hormone biosimilars market.
Due to low cost as compared to biologics, patients as well as healthcare professionals are preferring growth hormone biosimilars for the treatment.
Whereas, tedious manufacturing process of the growth hormone biosimilars may hamper the potential revenue generation opportunity in the global growth hormone biosimilars market. Stringent regulatory rules for the approval process may also hamper the growth of the growth hormone biosimilars market.
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Market Segmentation
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North America is expected to be the highest revenue generating region in the global growth hormone biosimilars market owing to widespread product availability. Latin America is expected to experience steady growth in the global growth hormone biosimilars market due to increasing product availability in the region.
Europe is expected to be the second most lucrative region in the global growth hormone biosimilars market due to higher diagnosis rate. Asia-Pacific is expected to be the fastest growing region in the global growth hormone biosimilars market due to increasing adoption of the available treatment options for the disorder. Middle East & Africa is expected to be the least revenue generating region in the global growth hormone biosimilars market.
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Key participants operating in the global growth hormone biosimilars market are: Teva Pharmaceuticals, Novo Nordisk A/S, Novartis AG, Merck KGaA, Eli Lilly and Company, Theratechnologies Inc., F. Hoffmann-La Roche AG, among others.
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