Biosimilar Growth Hormones Global Market Report 2024

The biosimilar growth hormones market size has grown strongly in recent years. It will grow from $0.76 billion in 2023 to $0.82 billion in 2024 at a compound annual growth rate (CAGR) of 8.4%. The growth observed in the historical period can be attributed to several factors. These include a growing demand for growth hormones, the expiration of patents enabling the development of biosimilar alternatives, the availability of clinical evidence supporting their efficacy, and an increase in clinical trials aimed at exploring their applications and benefits. These factors collectively contributed to the expansion and development of biosimilar growth hormones during this period.

The biosimilar growth hormones market size is expected to see strongly grown in the next few years. It will grow to $1.19 billion in 2028 at a compound annual growth rate (CAGR) of 9.8%. Anticipated growth in the forecast period is expected to stem from several key factors. These include the focus on pediatric growth disorders, the widening scope of indications for biosimilar treatments, a rise in diagnoses due to increased awareness, and the recognition of biosimilar options among healthcare providers and patients.

The global biosimilar growth hormone market is experiencing growth due to the increasing incidence of growth hormone deficiency among children. This deficiency, caused by pituitary or hypothalamic damage, affects about 1 in every 3,800 babies and can also occur later due to various factors like brain tumors, surgeries, or infections. The rising number of affected children drives the demand for biosimilar growth hormones.

The prevalence of chronic diseases globally is anticipated to fuel the biosimilar growth hormone market. Chronic conditions, while not curable, are manageable, and biosimilar growth hormones have proven effective, especially for children with growth disorders and chronic kidney disease. As projected by the National Library of Medicine, the US will witness a significant 99.5% rise in individuals aged 50 and above with chronic illnesses by 2050, soaring from 71.522 million in 2020, boosting the demand for biosimilar growth hormones. The implementation of recombinant DNA technology in the biosimilar growth hormone sector is a burgeoning trend. Notably, Pfizer Inc.'s initiation of a Phase III clinical trial utilizing somatropin, a growth hormone developed via recombinant DNA technology, emphasizes this. The trial assesses the efficacy and safety of somatropin for addressing growth hormone deficiency in children, focusing on a cohort with Prader-Willi Syndrome.

Key players in the biosimilar growth hormone market are introducing innovative products like NGENLA to enhance market profitability. Pfizer Inc.'s recent FDA approval for NGENLA, a once-weekly administered human growth hormone analog, targets pediatric patients aged three and older experiencing growth failure due to inadequate secretion of their own growth hormone. This product, slated for availability in the US from August 2023, aims to address growth hormone deficiencies more conveniently.

In October 2023, the US-based biotechnology company Amgen completed the acquisition of Horizon Therapeutics plc for a substantial $27.8 billion. This strategic move aligns with Amgen's overarching goal of providing innovative and impactful medications to patients dealing with severe illnesses. The acquisition notably includes Horizon's pharmaceutical portfolio, encompassing Tepezza, designed to address thyroid eye disease, Krystexxa, targeting chronic refractory gout, and Uplizna, intended for neuromyelitis optica spectrum disorder.

Major companies operating in the biosimilar growth hormones market include Amega Biotech, Biosidus S.A., Eli Lilly and Company, Ferring Pharmaceuticals, Genetech Inc., Merck & Co. Inc., Novartis AG, Novo Nordisk A/S, Sanofi S.A., USV Private Limited, Zhongshan Hygene Biopharm Co. Ltd., Biopartners and LG Chem, Boehringer Ingelheim International GmbH, Celltrion Inc., Coherus BioSciences Inc., Daiichi Sankyo Company Ltd., Dr. Reddy's Laboratories Ltd., Gedeon Richter Plc., Genor Biopharma Co. Ltd., GenScript Biotech Corporation, Hetero Drugs Limited, Intas Pharmaceuticals Ltd., LG Chem Ltd., Lupin Limited, Mabion S.A., Mundipharma International Limited, Oncobiologics Inc., Panacea Biotec Limited, Pfenex Inc., PlantForm Corporation.

North America was the largest region in the biosimilar growth hormone market in 2023. The Middle East is expected to be the fastest-growing region in the biosimilar growth hormones market report during the forecast period. The regions covered in the biosimilar growth hormones market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the biosimilar growth hormones market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

These hormones are administered through various routes such as intravenous, subcutaneous, intramuscular, and oral methods. Intravenous administration involves the injection of fluids, medications, or nutrients directly into a patient's vein. Applications for biosimilar growth hormones encompass treating conditions like growth hormone deficiency, Turner syndrome, idiopathic short stature, Prader-Willi syndrome, among others. These treatments are available through diverse distribution channels including hospital and retail pharmacies, online pharmacy platforms, and specialty clinics.

The biosimilar growth hormone market research report is one of a series of new reports provides biosimilar growth hormone market statistics, including biosimilar growth hormone industry global market size, regional shares, competitors with a biosimilar growth hormone market share, detailed biosimilar growth hormone market segments, market trends and opportunities, and any further data you may need to thrive in the biosimilar growth hormone industry. This biosimilar growth hormone market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The biosimilar growth hormone market consists of sales of teriparatide, follitropin alfa, insulin, and somatropin. Values in this market are 'factory gate values,' that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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