Acromegaly Treatment Market Size, Share, Trends, Growth 2032

Global Acromegaly Treatment Market Insights

Zion Market Research has published a report on the global Global Acromegaly Treatment Market, estimating its value at USD 1334.59 Million in 2023, with projections indicating that it will reach USD 2239.5 Million by 2032. The market is expected to expand at a compound annual growth rate (CAGR) of 5.92% over the forecast period 2024-2032. The report explores the factors fueling market growth, the hitches that could hamper this expansion, and the opportunities that may arise in the Global Acromegaly Treatment Market industry. Additionally, it offers a detailed analysis of how these elements will affect market demand dynamics and market performance throughout the forecast period.

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Global Acromegaly Treatment Market Overview

Acromegaly is a hormonal disorder that causes the pituitary gland to produce too much growth hormone during adulthood.  Without proper care, acromegaly can lead to serious health problems and may even be life-threatening. But when it is treated right with necessary medical care, symptoms generally improve and the affected patient’s life expectancy may go back to normal. Due to the prevalence and rising incidence of the number of cases in the world, there is an inflated demand under the global acromegaly treatment market. With greater spending on R&D of the medical field, the global acromegaly treatment market is anticipated to see some exponential growth in the near future.

In today’s world, there are a lot of lifestyle changes and they are expected to lead to rising demand in the upcoming years. Additionally, some genetic reasons and increasing incidence of hormonal diseases, such as endocrine diseases, hypopituitarism is expected to support as a helping hand for the market. With proper government support inevitable technological advancements can create growth opportunities for the market players.  Furthermore, the high success rate of treatment is driving the necessity for acromegaly treatment, and life expectancy after the treatment of acromegaly is equal to normal.

COVID-19 Impact Analysis

The COVID-19 outbreak has brought an unprecedented impact on the global acromegaly treatment market scenarios across the world. A lot of time and energy and investment in the R&D of the medical arena was shifted to treat the deadly virus, the ability to provide equal healthcare facilities for the acromegaly market was bleak. However, increasing support from the government creating favorable initiatives and supportive research institutes healthcare systems and several organizations can help in bringing the market scope back in the industry.

Due to the outbreak of the pandemic, there is a huge gap in the demand-supply chain. It was not possible to involve varying personnel as the world went under lockdowns and factories were shut. The production of drugs and clinic care were disturbed and the attention shifted drastically and all the limelight was taken by the deadly virus.

Acromegaly Treatment Market: Growth Factors

Some of the factors driving the growth of the global acromegaly treatment market is the increasing prevalence of cases and support, genetic complications, high investment in the department of research and development, increased share of expenditure on healthcare, and the growing technological advancements. Now, there is some rising awareness about acromegaly and an increase in the rates of screening are among the prime drivers of the global acromegaly treatment market. This can be attributed to the genetic complications in the DNA, changing lifestyles, and dietary changes as a result of rapid urbanization.

These hormonal disorders if left untreated can put the patient’s life at stake, there is a compelling need for the global acromegaly treatment in the changing world of today. The anticipated growth in the market is promising for the forecasted period.

Disease Type Segment Analysis Preview

On the basis of disease type, the global acromegaly treatment market is segmented into Ectopic and Pseudo acromegaly. As per latest study, Ectopic acromegaly is a rare syndrome and less than 1% of acromegalic patients were recorded and this was caused by ectopic growth hormone-releasing hormone (GHRH). Generally, cases are caused due to the extra- or intracranial GHRH-producing tumors.

Whereas, Pseudo acromegaly is the type where there is risk of significant physical, metabolic and psychosocial comorbidities. The implications in childhood prompt consideration for therapies to hinder growth and avert progression to overall metabolism. Although, increased recognition of this condition may improve diagnostic criteria and therapeutic options. Therefore, this segment dominated the disease type due to high occurrence of this disease.

Diagnosis Type Analysis Preview

On the basis of diagnosis, the market is segmented into medical imaging, medical laboratory tests. Furthermore, the medical imaging is segmented into radiography, magnetic resonance imaging (MRI), nuclear medicine, ultrasound, and others. It uses different imaging models and processes to image the human body for diagnostic, treatment and follow up purposes and this also plays an important role in initiatives to improve public health for all population groups.

On the other hand, medical laboratory tests are questionable as it has two sets but the doctors and professionals spend much time in the aftermath. Therefore, diagnosing acromegaly involves a combination of noting physical changes with the presence of medical imaging or MRI, having a check on the levels of certain hormones in the blood, and confirming the presence, size of a tumor using imaging tests.

Treatment Type Segment Analysis Preview

On the basis of treatment type, the market is bifurcated into surgery, drug therapy and radiation therapy. The medication segment or also known as drug therapy is anticipated to hold a measurable market share during the expected period due to factors such as effectiveness of drugs, nil or lesser side effects than radiation therapies, and strong pipeline portfolio of the drugs.

Now more than ever, many government initiatives are aimed at improving awareness related to acromegaly conditions. Although, post the pandemic, drug therapy is largely affected due to cross countries trade restrictions and improper manufacturing capabilities.

Global Acromegaly Treatment Market: Report Scope

Acromegaly Treatment Market: Regional Analysis Preview

North America dominates the global acromegaly treatment market owing to the increasing prevalence of acromegaly. Citing reasons like increased patient population and high disposable income have driven the growth of the market. In the same lines, rising share of healthcare expenditure, strong government aid for research & development and the presence of some of the leading players have propelled the growth of the market in this region.

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Although, Europe holds the second position in the global acromegaly treatment market, and then followed by Asia Pacific. Likewise, government support and increased investments for research and development drive the growth of the European market. Whilst, Asia Pacific is the fastest growing market due to the increasing population, increasing prevalence of hormonal diseases, and dynamic healthcare sector.

Acromegaly Treatment Market Players & Competitive Landscape

Global acromegaly treatment market is competitive some prominent players like

• Pfizer Inc
• Novartis AG
• Validus Pharmaceuticals LLC
• Ipsen
• Chiasma, Inc
• Crinetics Pharmaceuticals
• Ionis Pharmaceuticals Inc
• Midatech Pharma Plc

The global acromegaly treatment market is segmented as follows:

By Disease Type

• Ectopic Acromegaly
• Pseudo Acromegaly

By Diagnosis Type

• Medical Imaging
• Medical Laboratory Test

By Treatment Type

• Surgery
• Drug Therapy
• Radiation Therapy

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa