Growth hormone deficiency treatment market value to reach $1.88b by 2024
Posted: 18 August 2015 |
The global market for growth hormone deficiency treatment will rise in value from $1.26 billion in 2014 to reach approximately $1.88 billion by 2024…
The global market for growth hormone deficiency (GHD) treatment will rise in value from $1.26 billion in 2014 to reach approximately $1.88 billion by 2024, representing a moderate Compound Annual Growth Rate (CAGR) of 4.08%, according to research and consulting firm GlobalData.
The Company’s latest report, OpportunityAnalyzer: Growth Hormone Deficiency – Opportunity Analysis and Forecast to 2024, states that the increase, which will occur across the seven major countries of the US, France, Germany, Italy, Spain, UK, and Japan, will be primarily driven by the launch of long-acting growth hormone biobetters, which are expected to begin entering the market in 2017.
Lakshmi Dharmarajan, Ph.D., GlobalData’s Senior Analyst covering Cardiovascular and Metabolic Disorders, says the less frequent dosing schedules of these drugs will be attractive to patients, offering improved compliance and adherence outcomes.
Dharmarajan commented, “According to Key Opinion Leaders (KOLs) interviewed by GlobalData, patient compliance with daily growth hormone drugs has been a long-standing issue in the GHD treatment landscape, and it remains the greatest unmet need.
“As a consequence, pharmaceutical companies are focusing heavily on developing easier delivery options for patients, leading to therapies that can be administered weekly or bi-weekly. Indeed, nine of the 12 drugs currently in development for GHD are long-acting growth hormone biobetters.”
Global sales for long-acting growth hormone drugs predicted to reach $1.2b
The analyst adds that many patients who currently refuse to take their daily growth hormone injections are expected to opt for the long-acting drugs once they become available, which will begin to increase the drug treatment rate.
GlobalData forecasts that the global sales for the daily recombinant growth hormone drugs will decline at a negative CAGR of 5.95%, from $1.26 billion in 2014 to $684 million by 2024. However, global sales for the long-acting growth hormone drugs are forecast to reach around $1.2 billion by the end of the forecast period.
Dharmarajan continued, “KOL insights indicate that the uptake of these therapies will be faster among adult patients than among children with GHD, as has occurred with long-acting drugs in other markets.
“While physicians will initially restrict use of the biobetters in cancer survivors, due to fear of the hormones’ lingering effects in this patient population, the overall prospects for long-acting growth hormone therapies are very promising.”