Endocrinology Drugs Market Size to Grow by $ 25.25 bn through 2021-2025 | Forecast and Trend Analysis
Technavio has been monitoring the endocrinology drugs market and it is expected to grow by $ 25.25 billion, accelerating at a CAGR of almost 6% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking
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Endocrinology Drugs Market: Emerging Trends to Impact Market Growth
The association between obesity and endocrine disorders will emerge as a key trend that will drive the endocrinology drugs market. Rising incidence of endocrine disorders such as PCOS, hypothyroidism, and diabetes may occur due to obesity, which is a common ailment arising from modern sedentary lifestyles. Another common trend noticed in the incidence of endocrinology disorders like diabetes is its rising prevalence in countries with low and middle-income. Diabetes poses a serious threat to wellbeing as it can lead to other diseases such as the recent rise in cases of mucormycosis. As a result, the demand for endocrinology drugs is increasing rapidly.
42% of the market growth will originate from North America during the forecast period owing to the large aging population in the region. The US and Canada are the key markets for endocrinology drugs in North America. However, the market growth rate in this region will be slower than the growth of the market in Asia and Europe.
This report provides a detailed analysis of all the trends that are likely to influence the growth of individual segments within the market as well as the overall market in focus. This analysis will enable clients to assess their play in the market and plan for growth opportunities.
Endocrinology Drugs Market: Vendor Analysis
The market is fragmented due to the presence of several players. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Acerus Pharmaceuticals Corp., Beta Cell NV, Eli Lilly and Co., GlaxoSmithKline Plc, Ipsen Pharma SA, Merck and Co. Inc., Novartis AG, Novo Nordisk AS, Pfizer Inc., and Sanofi SA are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
Technavio custom reports provide market insights at the global and regional level along with a pipeline analysis of new product launches. It also provides a peek into the latest R&D along with an impact analysis of government regulations.
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