Market Size of Recombinant Hormone Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 6.40 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Recombinant Hormone Market Analysis
The recombinant hormone market is expected to register a CAGR of 6.4% over the forecast period.
COVID-19 is expected to drive the growth of the recombinant hormone market. The increased risk for diseases like diabetes during the COVID-19 outbreak is expected to drive the demand for recombinant hormones like insulin in the market. For instance, in February 2022, Massachusetts General Hospital stated that, in COVID-19 hospital admissions worldwide, high rates of newly diagnosed Diabetic Mellitus (NDDM) had been recorded. This high rate of new diabetes cases increases the need for recombinant insulin. Thus, the outbreak of COVID-19 is expected to drive the growth of the recombinant hormone market during the pandemic period. However, as the pandemic has been subsidized, the market is expected to project stable growth due to the application of recombinant hormones in different diseases.
The major factors that drive the market include the increasing or high burden of growth disorders and diabetes and technological advancements in the development of recombinant hormonal therapies. For instance, as per the IDF Diabetes Atlas 2021, the number of adults that are living with diabetes worldwide is estimated to be 537 million. This high burden of diabetes increases the need for advanced treatment using recombinant insulin and is expected to drive the market over the study period.
Furthermore, the new research studies on the recombinant hormones for accessing the safety profile increase the widespread of the products that help boost the market's growth. For instance, as per the study report published by Frontiers in Endocrinology in July 2022, PEGylated recombinant human growth hormone, Jintrolong, exhibited good long-term safety in cynomolgus monkeys and human pediatric growth hormone deficiency patients. The better safety profile of the product increases the usage of the drug and is expected to propel the market over the forecast period.
Hence, the factors like the high burden of diabetes and new research studies on recombinant hormones are expected to increase the usage of recombinant hormones and likely boost the market growth. However, adverse effects associated with recombinant hormonal therapies and stringent regulatory processes are the factors that hinder market growth over the forecast period.
