Global Adrenocorticotropic Hormone Market Size Set to Cross USD 2.1 Billion by 2029.
Global adrenocorticotropic hormone market is flourishing because of increasing focus on providing care to growing geriatric population across countries and rising prevalence of disorders related to the adrenal gland.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated global adrenocorticotropic hormone (ACTH) market size at USD 1.39 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects global adrenocorticotropic hormone market size to grow at a significant CAGR of 6.48% reaching a value of USD 2.14 billion by 2029. Major growth drivers for global adrenocorticotropic hormone market include rising incidence of adrenal insufficiency and autoimmune diseases, growing awareness about early diagnosis and treatment, and the availability of advanced diagnostic techniques. In particular, autoimmune and inflammatory diseases, such as rheumatoid arthritis, lupus, and multiple sclerosis, have contributed to the growth of the ACTH market. As these conditions require long-term management, ACTH is often used as a treatment option to manage symptoms. Moreover, the availability of advanced diagnostic techniques, such as immunoassays, radioimmunoassay, and ELISA, has increased the demand for ACTH testing. These techniques enable early diagnosis of adrenal insufficiency, which is another factor driving the growth of the ACTH market. The popularity of biologics for the treatment of autoimmune and inflammatory diseases due to their high specificity and low toxicity has also played a significant role. As ACTH is a biologic hormone used to treat these conditions, the increasing adoption of biologics is expected to further drive the growth of the ACTH market. However, high cost of treatment and side effects associated with ACTH therapy are anticipated to restrain the growth of the market during the period in analysis.
Global Adrenocorticotropic Hormone Market - Overview:
Adrenocorticotropic hormone (ACTH) is a hormone produced by the pituitary gland that stimulates the production and release of cortisol from the adrenal glands. Cortisol is a steroid hormone that is important in regulating various bodily functions such as metabolism, immune response, and stress response. ACTH is primarily used in the diagnosis of adrenal insufficiency and as a treatment for certain autoimmune and inflammatory conditions such as multiple sclerosis and rheumatoid arthritis.
Impact of COVID-19 on Global Adrenocorticotropic Hormone Market
COVID-19 had a dual impact on the global adrenocorticotropic hormone (ACTH) market. The pandemic led to disruptions in supply chains, decreased patient visits to healthcare facilities, and delays in clinical trials, all of which have impacted the ACTH market. On the one hand, the pandemic has led to an increased demand for ACTH therapy in the treatment of severe COVID-19 cases. ACTH therapy has been used as an adjunctive treatment for COVID-19 patients who require mechanical ventilation and are at risk of developing acute respiratory distress syndrome (ARDS). This has led to an increased demand for ACTH products in certain regions. On the other, the pandemic led to a decrease in non-COVID-19-related ACTH therapy due to the decreased patient visits to healthcare facilities. The lockdowns and travel restrictions also led to disruptions in the supply chain, which impacted the availability of ACTH products. Also, delays in clinical trials due to the pandemic impacted the development of new ACTH products and may delay the approval of new treatments.
Global Adrenocorticotropic Hormone Market - By Distribution Channel:
Based on distribution channel, global adrenocorticotropic hormone market is divided into Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies segments. The online pharmacies segment holds the dominant position in the global Adrenocorticotropic Hormone (ACTH) market, as they offer the convenience of ordering medication from home, eliminating the need to visit a pharmacy. The online pharmacies have a wider reach compared to traditional pharmacies, catering to customers from different locations, including remote areas. Also, they are cost-effective, often offering lower prices for medication and frequently providing discounts and other promotional offers. Lastly, the increasing adoption of e-commerce globally has contributed to the popularity of online pharmacies, as people become more comfortable with buying products online.
Competitive Landscape:
Major players operating in global adrenocorticotropic hormone market include: Novartis International AG, Pfizer Inc., Mallinckrodt Pharmaceuticals, Hikma Pharmaceuticals PLC, West-Ward Pharmaceuticals Corp., Horizon Therapeutics plc, Sun Pharmaceutical Industries Ltd., Merck & Co., Inc., Ferring Pharmaceuticals, Teva Pharmaceutical Industries Ltd., Aspen Pharmacare Holdings Limited, Amphastar Pharmaceuticals, Inc., EMD Serono, Inc., Mylan N.V., and Taj Pharmaceuticals Ltd. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Global Adrenocorticotropic Hormone Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Global Adrenocorticotropic Hormone Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
