Acromegaly Treatment Market Trends

Growth Drivers

Increase in the prevalence of hormonal diseases

The increasing prevalence of hormonal diseases is one of the key factors projected to drive the market growth.

The rising awareness for acromegaly and an increase in the rates of screening globally is expected to fuel the overall market growth in the forecast period.

Technological and medical advancements

Progressions in surgery and developing alternatives, such as radiation therapy, medications, and others, are contributing towards the market growth. Developments in medical diagnoses, such as magnetic resonance imaging and the growth hormone suppression test, deliver the most selective means for the testing of acromegaly disorder. Medical advancements such as the development of antagonists (somatostatin analogs, dopamine agonists, and GH receptor antagonists), are the synthetic forms of natural hormones that restrict the creation of growth hormone. This is driving the market towards non-invasive treatments, mainly in cases where surgery is not a viable option.

Government support

The government through their supporting policies, schemes, and insurance, is surfaced as a major contributor towards the growth of the overall market.

Challenges

The high cost of surgery and lack of awareness for the diagnosis and management of the disorder in many developing nations may surface as key factors that might hamper the market growth.

Furthermore, complications accompanying the treatment, such as the risk of infection, ache, and reduced immunity, are likely to restrain the growth of the market.