Dublin, Nov. 02, 2022 (GLOBE NEWSWIRE) -- The "Biosimilar Hormones Global Market Report 2022: By Type, By Application, By Distribution" report has been added to ResearchAndMarkets.com's offering.
The global biosimilar hormones market is expected to grow from $1.74 billion in 2021 to $2.31 billion in 2022 at a compound annual growth rate (CAGR) of 32.5%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $6.22 billion in 2026 at a CAGR of 28.1%.
The biosimilar hormones market consists of sales of biosimilar hormones by entities that engage in manufacturing biosimilar hormones. These hormones are used when patients have a drop in hormones in their bodies or are unbalanced. Only goods and services traded between entities or sold to end consumers are included.
The main types of biosimilar hormones are teriparatide biosimilars, follitropin alfa biosimilars, insulin biosimilars, somatropin biosimilars and others. Teriparatide is a parathyroid hormone recombinant (PTH). Teriparatide is similar to a component of human PTH, and when taken on a regular basis, it stimulates osteoblasts more than osteoclasts, resulting in an increase in bone mass. The different applications include research and biotechnology, diagnostics, biocatalysts, therapeutics, others and distributed through various channels such as hospital and retail pharmacy, online pharmacy or e-pharmacy, speciality clinics.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The prevalence of deficiencies in growth hormones and metabolic hormones contributes to the market. The treatments required for hormone-related conditions are evolving and the prevalence of hormonal deficiencies is generating higher demand for the hormone biosimilars market.
For instance, according to the Italian Journal of Pediatrics, the prevalence of growth hormone deficiency (GHD) in childhood widely varies between 1 out of 3480 and 1 out of 30,000 children annually. In children, the growth hormone can influence bone mineralization and lead to several metabolic effects, including glucose and lipid homeostasis. Annually, about 6,000 adults are diagnosed with growth hormone (GH) deficiency in the USA. The growing need to treat patients with prevailing hormonal deficiencies drives the biosimilar hormones market.
Stringent regulations imposed on the approval of hormone biosimilars limits the growth of the biosimilar hormones market. Biosimilars are approved on the same standard of pharmaceutical quality, efficacy, and safety that apply to all biologics approved in the European Union. There should be a similarity between the biologics and biosimilars, and as the process of manufacturing differs, the approval process becomes expensive and likely hinders the growth of the biosimilar hormones market.
Key players operating in the biosimilar hormones market are undertaking various strategic initiatives such as new product launch in untapped regions to make the drug accessible to a large population. The companies are focusing on launching their products across various locations to boost sales and maximize profits. For instance, in October 2019, Biocon Biologics and Mylan N.V. announced the launch of biosimilar hormones in Australia to treat the polygenic disorder.
Scope
Markets Covered:
1) By Type: Teriparatide Biosimilars; Follitropin Alfa Biosimilars; Insulin Biosimilars; Somatropin Biosimilars; Others
2) By Application: Research & Biotechnology; Diagnostics; Biocatalysts; Therapeutics; Others
3) By Distribution Channel: Hospital And Retail Pharmacy; Online Pharmacy/epharmacy; Speciality Clinics
Key Topics Covered:
1. Executive Summary
2. Biosimilar Hormones Market Characteristics
3. Biosimilar Hormones Market Trends And Strategies
4. Impact Of COVID-19 On Biosimilar Hormones
5. Biosimilar Hormones Market Size And Growth
6. Biosimilar Hormones Market Segmentation
7. Biosimilar Hormones Market Regional And Country Analysis
8. Asia-Pacific Biosimilar Hormones Market
9. China Biosimilar Hormones Market
10. India Biosimilar Hormones Market
11. Japan Biosimilar Hormones Market
12. Australia Biosimilar Hormones Market
13. Indonesia Biosimilar Hormones Market
14. South Korea Biosimilar Hormones Market
15. Western Europe Biosimilar Hormones Market
16. UK Biosimilar Hormones Market
17. Germany Biosimilar Hormones Market
18. France Biosimilar Hormones Market
19. Eastern Europe Biosimilar Hormones Market
20. Russia Biosimilar Hormones Market
21. North America Biosimilar Hormones Market
22. USA Biosimilar Hormones Market
23. South America Biosimilar Hormones Market
24. Brazil Biosimilar Hormones Market
25. Middle East Biosimilar Hormones Market
26. Africa Biosimilar Hormones Market
27. Biosimilar Hormones Market Competitive Landscape And Company Profiles
28. Biosimilar Hormones Pipeline Analysis
29. Key Mergers And Acquisitions In The Biosimilar Hormones Market
30. Biosimilar Hormones Market Future Outlook and Potential Analysis
31. Appendix
Companies Mentioned
- Teva Pharmaceutical
- Gedeon Richter
- Intas Pharmaceuticals
- Biocon
- Mylan
- Sanofi
- Sandoz (Novartis)
- LG Life Sciences
- Ferring Pharmaceuticals
- GC Pharma
For more information about this report visit https://www.researchandmarkets.com/r/r0ih9m
Attachment
