The Business Research Company’s Biosimilar Growth Hormones Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026
LONDON, GREATER LONDON, UK, April 4, 2022 /EINPresswire.com/ — Recombinant DNA technology (rDNA technology) is increasingly being implemented in the biosimilar growth hormone industry. The development of biosimilar growth hormone by using rDNA technology is an emerging trend. For instance, in 2020, rBIO was produced utilizing Recombinant DNA technology. rBIO can cut the cost of insulin by 30%, rendering insulin and other medications more cost-effective in the United States.
The growing number of children suffering from growth hormone deficiency is driving the biosimilar growth hormones market growth. 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. According to the biosimilar growth hormones market forecast, an increase in the number of children suffering from growth deficiency drives the growth of the market.
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The global biosimilar growth hormones market size is expected to grow from $0.59 billion in 2021 to $0.64 billion in 2022 at a compound annual growth rate (CAGR) of 8.4%. The growth in the market 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 global biosimilar growth hormones market share is expected to reach $0.89 billion in 2026 at a CAGR of 8.4%.
North America was the largest region in the biosimilar growth hormone market in 2021. The Middle East is expected to be the fargest growing region in 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.
Major players covered in the global biosimilar growth hormones 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 and Ferring Pharmaceuticals.
TBRC’s global biosimilar growth hormones market report is segmented by route of administration into intravenous, subcutaneous, intramuscular, oral, 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, speciality clinics.
Biosimilar Growth Hormones Global Market Report 2022 – By Route Of Administration (Intravenous, Subcutaneous, Intramuscular, Oral), By Application (Growth Hormone Deficiency, Turner Syndrome, Idiopathic Short Stature, Prader Willi Syndrome), By Distribution Channel (Hospital And Retail Pharmacy, Online Pharmacy/Epharmacy, Speciality Clinics) – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides a biosimilar growth hormones market overview, forecast biosimilar growth hormones market size and growth for the whole market, biosimilar growth hormones market segments, geographies, biosimilar growth hormones market trends, biosimilar growth hormones market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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