Endocrinology Drugs Market Size

Endocrinology Drugs Market Analysis

The endocrinology drugs market is expected to register a CAGR of 6.8% over the forecast period.

• COVID-19 significantly impacted the endocrinology drugs market since many research studies 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, as per the mini-review published by Oxford University Press in January 2022, 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 proteins are expressed in several endocrine glands, including the pancreas, thyroid gland, ovaries, and testes. This indicated that the endocrine system is vulnerable to both destruction and alteration in function due to COVID-19. However, as the pandemic spread, in the post-pandemic situation, the market is likely to witness significant growth in the coming future due to the increase in endocrine diseases and the rise in new product launches.
• 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 International Diabetic Foundation (IDF) 2021 update, approximately 537 million adults (20-79 years) were living with diabetes in 2021. The total number of people living with diabetes is projected to rise to 643 million by 2030 and 783 million by 2045. Thus, the rise in diabetes cases globally is likely to increase the demand for anti-diabetic drugs and thereby fuel the endocrinology drugs market growth over the forecast period.
• Moreover, the increase in the development of endocrine drugs and the rise in product launches by the major players are expected to boost market growth. For instance, in December 2022, Glenmark Pharma launched a combination drug for diabetic patients. This fixed-dose combination offers patients with Type 2 diabetes the convenience of once-daily dosing to improve their glycemic control. It launched under the brand name Zita-PioMet and contains Teneligliptin (20 mg), Pioglitazone (15 mg), and Metformin (500mg/1000mg) in a sustained release (SR) formulation. Similarly, in December 2022, Hikma Pharmaceuticals PLC launched Levothyroxine Sodium Injection in the US. The product is available in ready-to-use vials in a 100mcg/mL dose. Levothyroxine Sodium is an important medicine used in hospitals for the treatment of myxedema coma. 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.
• Thus, considering the rise in endocrine diseases and the increase in the development of endocrine drugs, the endocrinology drugs market is expected to witness significant growth over the forecast period. However, the stringent regulatory framework for endocrinology drugs marketing and approvals is expected to restrain the market growth.