(Photo Courtesy: www.yourhormones.info)
The global market for growth hormone deficiency (GHD) treatment will rise in value from $1.26 billion in 2014 to reach approximately $1.88 billion by 2024, representing a moderate Compound Annual Growth Rate (CAGR) of 4.08%, according to research and consulting firm GlobalData.
The company's latest report states that the increase, which will occur across the seven major countries of the US, France, Germany, Italy, Spain, UK, and Japan, will be primarily driven by the launch of long-acting growth hormone biobetters, which are expected to begin entering the market in 2017.
Dr Lakshmi Dharmarajan, GlobalData's senior analyst covering cardiovascular and metabolic disorders, says the less frequent dosing schedules of these drugs will be attractive to patients, offering improved compliance and adherence outcomes.
She comments: "According to Key Opinion Leaders (KOLs), patient compliance with daily growth hormone drugs has been a long-standing issue in the GHD treatment landscape, and it remains the greatest unmet need.
"As a consequence, pharmaceutical companies are focusing heavily on developing easier delivery options for patients, leading to therapies that can be administered weekly or bi-weekly. Indeed, nine of the 12 drugs currently in development for GHD are long-acting growth hormone biobetters."