|Fastest Growing Market:||Asia-Pacific|
|Largest Market:||North America|
Need a report that reflects how COVID-19 has impacted this market and its growth?
The endocrinology drugs market is expected to register a CAGR of 6.8% over the forecast period, 2022-2027.
During the pandemic, many research studies have demonstrated that people with thyroid disorders and diabetes are more prone to COVID-19 infection, creating a significant demand for the appropriate use of various endocrine drugs. For instance, in August 2020, the Lancet Diabetes and Endocrinology published that, patients with diabetes and uncontrolled hyperglycemia were at an increased risk and mortality due to COVID-19. A mini-review on “Impact of COVID-19 on the Endocrine System” published by Oxford University Press in January 2022, revealed that the transmembrane serine protease 2 (TMPRSS2) protein is required for the coronavirus to gain access to cells via the angiotensin-converting enzyme 2 (ACE2) receptor. Both ACE2 and TMPRSS2 protein are expressed in several endocrine glands, including the pancreas, thyroid gland, ovaries, and testes. This shows the endocrine system is vulnerable to both destruction and alteration in function due to COVID-19. As a result, COVID-19 had a significant impact on the endocrinology drugs market.
The major factors driving the growth of the market include an increase in the prevalence of endocrine disorders, a rising adolescent population with endocrine disorders, and extensive research and development. An increase in endocrine disorders specifically diabetes is one of the major factors driving the growth of the endocrinology drug market. According to the data published by World Health Organisation in November 2021, the growth of prevalence of diabetes is high in low- and middle-income countries compared to high-income countries. According to the same source, an estimated 1.5 million people died from diabetes and 48% of these deaths occurred before the age of 70 years in 2019.
Furthermore, the rising adolescent population with endocrine disorders is expected to propel the endocrinology drugs market over the forecast period. Extensive research and development on endocrine drugs like new drug delivery systems, novel dosage forms, and formulations are expected to increase the usage of the drugs, thus augmenting the market growth.
Scope of the Report
As per the scope of the report, endocrinology is the branch of physiology and medicine concerned with endocrine glands and hormones. The drugs used in treating the disorders of endocrine glands are considered endocrinology drugs. The Endocrinology Drugs Market is segmented by Therapy Area (Adrenal insufficiency, Diabetes, Thyroid Hormone Disorder, and Other Therapy Areas), Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and Geography (North America, Europe, Asia-Pacific, Middle East, and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions, globally. The report offers the value (in USD million) for the above segments.
|By Therapy Area|
|Thyroid Hormone Disorder|
|Other Therapy Areas|
|By Distribution Channel|
Key Market Trends
Diabetes is Expected to Dominate the Market Over the Forecast Period
In the United States, diabetes is the most prevalent endocrine condition. According to the data published by the United States Centers for Disease Control and Prevention, in 2018, 34.2 million people had diabetes but in 2020 it was increased to 37.3 million. In November 2021, the International Diabetes Federation (IDF) published that 1 in 6 adults are living with diabetes and almost half of the people living with diabetes in Mexico are undiagnosed. According to the same source, 1 in 7 adults (51 million) is diabetic in North America and Caribbean Region.
Furthermore, as per the Centers for Disease Control and Prevention in 2021 updates, the incidence of diabetes among United States adults aged 18 years or older, was 1.4 million in 2019, also compared to adults aged 18 to 44 years, incidence rates of diagnosed diabetes were higher among adults aged more than 45 years. This shows the significant increase in new cases with an increase in age from 45 to 64 years, which drives the market of endocrinology drugs over the forecast period.
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North America is Expected to Dominate the Market Over the Forecast Period
North America is anticipated to have a significant share in the market, owing to the well-established healthcare infrastructure, high prevalence of obesity, unhealthy diet, altered lifestyle, and new product launches. FOr instance, in August 2021, the United States Food and Drug Administration approved rapid-acting insulin, Lyumjev (insulin lispro-aabc injection) 100 units/mL indicated to improve glycemic control in adults with type 1 and type 2 diabetes. Additionally, in July 2021, the United States Food and Drug Administration approved the first interchangeable biosimilar insulin product (Semglee (insulin glargine-yfgn)).
These approvals will further help in the growth of the endocrinology drug market. Furthermore, Rybelsus received approval from Health Canada in April 2020 for the management of type 2 diabetes mellitus in adults. Thus, due to the above-mentioned factors, North America is likely to dominate the endocrinology drugs market over the forecast period.
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The endocrinology drugs market is fragmented in nature due to the presence of several companies operating globally. The major players include AbbVie Inc, Acerus Pharmaceuticals Corporation, AstraZeneca Plc, Novartis AG, Eli Lilly and Company, GSK plc, Merck & Co., Novo Nordisk A/S, Sanofi, and Takeda Pharmaceutical Company Limited.
- In May 2022, the United Sates Food and Drug Administration approved Mounjaro (tirzepatide) injection to improve blood sugar control in adults with type 2 diabetes, as an addition to diet and exercise.
- In March 2022, Novo Nordisk announced that the United States Food and Drug Administration approved a 2.0 mg dose of Ozempic (once-weekly semaglutide subcutaneous injection), a glucagon-like peptide-1 (GLP-1) analogue for the treatment of adults with type 2 diabetes.
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increase in the Prevalence of Endocrine Disorders
4.2.2 Extensive Research and Development Activities and Rise in Product Launch
4.3 Market Restraints
4.3.1 Stringent Regulatory Framework
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD million)
5.1 By Therapy Area
5.1.1 Adrenal Insufficiency
5.1.3 Thyroid Hormone Disorder
5.1.4 Other Therapy Areas
5.2 By Distribution Channel
5.2.1 Hospital Pharmacies
5.2.2 Retail Pharmacies
5.2.3 Online Pharmacies
5.3.1 North America
126.96.36.199 United States
188.8.131.52 United Kingdom
184.108.40.206 Rest of Europe
220.127.116.11 South Korea
18.104.22.168 Rest of Asia-Pacific
5.3.4 Middle East and Africa
22.214.171.124 South Africa
126.96.36.199 Rest of Middle East and Africa
5.3.5 South America
188.8.131.52 Rest of South America
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Company Profiles
6.1.1 AbbVie Inc
6.1.2 Acerus Pharmaceuticals Corporation
6.1.3 AstraZeneca Plc
6.1.4 Novartis AG
6.1.5 Eli Lilly and Company
6.1.6 GSK plc
6.1.7 Merck & Co.
6.1.8 Novo Nordisk A/S
6.1.10 Takeda Pharmaceutical Company Limited
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Global Endocrinology Drugs Market market is studied from 2019 - 2027.
What is the growth rate of Global Endocrinology Drugs Market?
The Global Endocrinology Drugs Market is growing at a CAGR of 6.8% over the next 5 years.
Which region has highest growth rate in Global Endocrinology Drugs Market?
Asia-Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Global Endocrinology Drugs Market?
North America holds highest share in 2021.
Who are the key players in Global Endocrinology Drugs Market?
AbbVie Inc, AstraZeneca Plc, Novartis AG, Novo Nordisk A/S, Eli Lilly and Company are the major companies operating in Global Endocrinology Drugs Market.