What is Pediatric Growth Hormones Market?
Adolescent The pituitary gland produces growth hormones, which are necessary for children's growth. Growth hormones play a crucial role in metabolic and physiological processes during one's life. Cell replication and regeneration are stimulated by growth hormones in both children and adults. Many companies are concentrating their efforts on developing new drugs to treat growth hormone deficiency. Over the projected era, clinical trial and product development activities are expected to fuel the growth of pediatric growth hormones.
The market study is being classified and major geographies with country level break-up.
Merck KGaA (Germany), Novo Nordisk A/S (Denmark), Ferring B.V (Netherlands), Genentech, Inc. (United States), Pfizer Inc. (United States), Eli Lilly & Company (United States), Novartis AG (Switzerland) and BioPartners GmbH (Switzerland) are some of the key players profiled in the study.
The top firms are in a competition that has their strong R&D backup for research studies and the further things which are required to get approval for such complicated drugs and enhance the treatment medications. There are firms mainly from the USA and playing a major role in the research area of Biopharmaceuticals. The mergers and acquisitions are other options to change the market strategies and earn more reputation in the market. Research Analyst at AMA predicts that Global Players will contribute to the maximum growth of Global Pediatric Growth Hormones market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Pediatric Growth Hormones market by Type, Application and Region.
On the basis of geography, the market of Pediatric Growth Hormones has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Growing Number of Endocrine Disorders
- Increasing Number of Cases of Pituitary Gland Tumors
Market Trend
- Rising Clinical Trial and Product Development Activities
Restraints
- High Cost of the Pediatric Growth Hormone Injections
- Low Awareness among the General Population regarding Growth Hormone Deficiency
Opportunities
- Increasing Pediatric Diagnostic Campaigns and Programs in Developing Countries
- Growing Treatment Affordability Rate and Awareness Rate in Developed Countries
Challenges
- Side Effects Associated with the Hormonal Therapy
In Oct 2020, Pfizer Inc. and OPKO Health Inc. announced that C0311002, a Phase 3, randomized, multicenter, open-label, crossover study evaluating somatrogon dosed once-weekly in children 3 to <18 years of age with growth hormone deficiency (GHD), met its primary endpoint of improved treatment burden compared to GENOTROPIN® (somatropin) for injection administered once-daily., and In May 2019, Ascendis Pharma A/S announced preliminary results from the phase 3 fliGHt Trial of TransCon Growth Hormone (hGH). The results indicated treatment with TransCon hGH was safe and well-tolerated in subjects with pediatric growth hormone deficiency (GHD) who were previously treated with commercially available daily growth hormone therapies
In Jan 2021, Pfizer Inc. and OPKO Health Inc. announced that the US Food and Drug Administration (FDA) has accepted for filing the initial Biologics License Application (BLA) for somatrogon, a long-acting human growth hormone that is intended to be administered once-weekly for the treatment of pediatric patients with growth hormone deficiency (GHD).
Key Target Audience
Pediatric Growth Hormones Treatment Manufacturers, Research and Development (R&D) Companies, Hospitals and Clinics, Academic Institutes and Universities, Potential Investors and Others