Global Acromegaly Treatment Market Expected to Reach USD 2299.4 Million by 2027 – The Daily Chronicle

Posted: October 4, 2020 at 2:07 pm

According to a recent market study published by Growth Market Reports (GMR), titled, Global Acromegaly Treatment Market by Product, End-user, and Region: Size, Share, Trends and Opportunity Analysis, 2017-2027, the market was valued at USD 1,304.4 Million in 2019 and is expected to grow at a healthy growth rate of 7.6% by the year 2027. The global acromegaly treatment market is anticipated to grow owing to rising prevalence of acromegaly especially in developed countries. Further, increasing awareness among the people for acromegaly, and rising number of clinical trials for acromegaly drugs are the factors which is expected to drive the growth of the global acromegaly treatment market.

The global acromegaly treatment market is fragmented based on product, end-user, and region. In terms of product, the market is segmented into somatostatin analogs, growth hormone receptor antagonist (GHRA), and dopamine agonist. On the basis of end-user, the market is divided into hospitals & clinics, and others. Based on region, the global acromegaly treatment market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, Asia Pacific is further segmented into, China, Japan, South Korea, Australia, Southeast Asia, and Rest of Asia Pacific. The Europe region is further categorized into Germany, France, Italy, U.K., Spain, Russia, and Rest of Europe, and the MEA region is further divided into Saudi Arabia, South Africa, UAE, and Rest of MEA.

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Acromegaly is one the rare disorders which is usually caused by excess development of growth hormone by the pituitary gland. This excessive growth hormone affects a patients internal organs and physical appearance. Acromegaly is mainly caused by benign pituitary tumor (adenoma); however, in rare cases acromegaly is caused by ineffective control of GH-secreting cells by hypothalamus. If acromegaly is untreated or not treated properly, it can lead to serious and life threating complication such as ventricular arrythmia and cardiomyopathy. To detect acromegaly doctors use diagnostic approaches such as blood test to measure the level of insulin-like growth factor or growth hormones and imaging of tumor through computed tomography (CT) scan and magnetic resonance image (MRI) scan. In acromegaly treatment some of the medications which are used are 90% effective in shrinking the tumor. However, the success rate for acromegaly treatment varies health, age, and medical history of the patient.

As per GMR industry analyst Vidya Jadhav, The Global Acromegaly Treatment Market is anticipated to witness significant growth during forecast period 2021-2027 driven by increasing prevalence and incidence of acromegaly across globe, rising awareness across developing economies, increasing initiatives taken by government to promote the awareness about this rear disease. Moreover, the increasing R&D, investments, and boom in clinical trials to develop new medication for acromegaly is expected to create lucrative opportunity during forecast period.

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Global Acromegaly Treatment Market Expected to Reach USD 2299.4 Million by 2027 - The Daily Chronicle

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