The Business Research Company’s Biosimilar Growth Hormones Global Market Report 2021: COVID-19 Growth And Change To 2030
LONDON, GREATER LONDON , UK, April 7, 2021 /EINPresswire.com/ — Our reports have been revised for market size, forecasts, and strategies to take on 2021 after the COVID-19 impact: https://www.thebusinessresearchcompany.com/global-market-reports
The growing number of children suffering from growth hormone deficiency is driving the growth of the biosimilar hormones market. Growth hormone deficiency is caused by damage to the pituitary gland or hypothalamus, which may be the result of an abnormal formation that occurred before the child was born (congenital) or something that occurred during or after birth (acquired). Growth hormone deficiency has been identified in about 1 in every 3,800 babies. Additionally, some children acquire it later in their life as a result of a brain tumor, brain operation, radiation therapy, injury or infection. Thus, an increase in the number of children suffering from growth deficiency drives the growth of this biosimilar market.
The biosimilar growth hormone market consists of sales of Somatropin or human growth hormone (HGH) and related services by entities (organizations, sole traders and partnerships) that manufacture growth hormones. Biosimilar growth hormones are used to stimulate growth, cell reproduction and cell regeneration in humans and other animals.
The global biosimilar growth hormones market is expected to grow from $0.52 billion in 2020 to $0.56 billion in 2021 at a compound annual growth rate (CAGR) of 7.7%. 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 biosimilar growth hormone market is expected to reach $0.78 billion in 2025 at a CAGR of 9%.
The biosimilar growth hormone market covered in this report is segmented by route of administration into intravenous, subcutaneous, intramuscular, oral. The biosimilar growth hormone market is also segmented by application into growth hormone deficiency, turner syndrome, idiopathic short stature, prader willi syndrome, others; by distribution channel into hospital and retail pharmacy, online pharmacy/epharmacy, specialty clinics.
Major players in the biosimilars industry are Biopartners And LG Chem, Amega Biotech, Eli Lilly and Company, Genetech Inc., Novartis AG, Zhongshan Hygene Biopharm Co. Ltd., Merck, Sanofi S.A., Biosidus, Ferring Pharmaceuticals.
Biosimilar Growth Hormones Global Market Report 2021: COVID-19 Growth And Change To 2030 is one of a series of new reports from The Business Research Company that provides biosimilar growth hormones market overview, forecast biosimilar growth hormones market size and growth for the whole market, biosimilar growth hormones market segments, and geographies, biosimilar growth hormones market trends, biosimilar growth hormones market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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