LONDON–(BUSINESS WIRE)–Technavio market research analysts forecast the global acromegaly and gigantism drugs market to grow at a CAGR of around 3% during the period 2018-2022, according to their latest report.
This market research report segments the global acromegaly and gigantism drugs market by drug class (somatostatin analogs, GH receptor antagonists, dopamine agonists, recombinant human IGF) and key regions (the Americas, APAC, and EMEA).
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In this report, Technavio analysts highlight the effectiveness of existing drug therapies as a key factor contributing to the growth of the global acromegaly and gigantism drugs market:
Effectiveness of existing drug therapies
There are several pharmacological drugs available for the treatment of acromegaly and gigantism. A major class of drugs includes somatostatin analogs as the standard medical therapy for acromegaly either as first-line therapy when surgery is not possible or ineffective. Lanreotide and octreotide are first-generation somatostatin receptor ligands (SRL), and as per the NIH, SRLs are effective in approximately 20%-70% of individuals. The GH receptor antagonist has also shown good effectiveness, as per the NIH, pegvisomant, a GH receptor antagonist has been found effective in 65%-90% of cases. A subset of individuals who do not respond to both these therapeutic class of drugs require other treatment options.
According to a senior analyst at Technavio for infectious and rare diseases research, â€œDrug combination therapy can achieve more efficacious disease control. However, development of new medical therapy remains essential. The effectiveness of available drug classes either as a monotherapy or in combination with each other is driving the market growth.â€�
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Global opportunities and market segmentation
The presence of several molecules in the pipeline represents significant opportunities for market growth. Around 43% of the total pipeline molecules for acromegaly and gigantism are in Phase III stage of development and are expected to be launched during the forecast period. Companies are working toward the development of drugs that cater to the unmet medical needs for this condition.
The Americas contributed the maximum share of over 45% in the global acromegaly and gigantism drugs market in 2017. The Americas was followed by EMEA and APAC respectively. The market shares of these two regions will witness a steady increase, while the market share of the Americas will witness a slight decline. However, despite the declining market share, the Americas will continue its dominance throughout the forecast period.
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