Precocious Puberty Treatment Market is expected to reach US$ 3,650.66 million by 2033
The global precocious puberty treatment market is anticipated to attain an impressive valuation of US$ 1,716.43 million in 2023 and is projected to reach US$ 3,650.66 million by 2033, trailing a CAGR of 7.8% during the forecast period. The focus of key industry players on getting product approval from regulatory authorities such as United States Food and Drug Administration (FDA), which is expected to propel the market growth during the forecast period.
For example, in May 2020, Tolmar Pharmaceuticals, Inc., a pharmaceutical company, received authorization and approval for its New Drug Application from the Unites states FDA for FENSOLVI (leuprolide acetate) for injectable suspension for the treatment of pediatric patients aged two years and older with precocious puberty. This is projected to propel market growth during the forecast period.
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Likewise, these players are focusing on a number of inorganic strategies such as partnerships, mergers, and agreements, which is expected to drive the precocious puberty market growth during the forecast period. For example, in January 2016, Debiopharm International SA (Debiopharm) which is a part of Debiopharm Group, made an agreement for exclusive distribution agreement with Arbor Pharmaceuticals, a pharmaceutical company, for the commercialization and promotion of triptorelin 22.5 mg for Central precocious puberty treatment.
On the other hand, surging research and development activities in triptorelin for applications in several therapeutic indications, by private manufacturers and research organizations is fuelling growth of precocious puberty treatment market. Moreover, the higher efficacy and tolerability of triptorelin in the suppression of gonadotropin secretion in prostate cancer and precocious puberty is surging the adoption of triptorelin in the market which is anticipated to benefit the market of precocious puberty.
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Also, the engagement by key players in expanding their product portfolio in several geographical areas is expected to aid market growth. For example, in October 2017, Arbor Pharmaceuticals, LLC and Debiopharm International SA commercialized availability of Triptodur (triptorelin), in the United States for the treatment of pediatric patients two years and older diagnosed with Precocious Puberty. Furthermore, reimbursement for the treatment of precocious puberty is provided through Medicaid, which is estimated to offer lucrative growth prospects for the global precocious puberty market during the forecast period.
Key Takeaways from the Market Study
- North America is expected to dominate the industry while reaching market share of around 46.7% by end of the forecast period.
- The market in East Asia is projected to account for 25% market share by end of the projected period.
- By drug class, ‘triptorelin’ is projected to account for 62% market share by end of the forecast period.
- Hospitals are expected to dominate the market by distribution channel, with a market share of 58% by 2033.
“Increasing rate of product approvals, surging growth in mergers and acquisitions between companies, and development of new drugs will increase the product demand for treatment of precocious puberty,” comments an FMI analyst.
The precocious puberty treatment market is extremely competitive and consists of various key market players. These players are developing novel delivery systems for treating precocious puberty. This is anticipated to fuel precocious puberty treatment market. The key players in this market are: Teva Pharmaceutical Industries Ltd, AbbVie Inc., Arbor Pharmaceuticals, LLC, Pfizer Inc, Tolmar Pharmaceuticals, Inc., Endo International plc, Ipsen Pharma, Debiopharm Group, Sun Pharmaceutical Industries Limited, Sanofi
Key industry players are inclined on adoption of inorganic growth strategies like acquisition, partnerships, and collaboration in order to bolster their product portfolio. This is expected to propel the global precocious puberty treatment market.
- In June, 2020, Ipsen Pharma undergone strategic partnership with Debiopharm for Decapeptyl (triptorelin) for another 15 years. Decapeptyl (triptorelin) is used for treating central precocious puberty in children. This strategic merger helped the company to maintain a continuous product access to patients.
- In March 2022, Accord BioPharma, the United States special division of Intas Pharmaceuticals, Ltd. declared the United States launch of CAMCEVI (leuprolide) 42mg injection emulsion for the treatment of progressive prostate cancer in adults.In February 2022, BDR Pharmaceuticals revealed its brand ENZALUTAMIDE, an antiandrogen in 160mg with brand name BDENZA for treatment of Prostate Cancer patients.
- In January 2019, Debiopharm group informed about an agreement with Allergan to begin a transition process for Trelstar (Triptorelin pamoate) intended to lead to new licensees taking over the commercialization of Trelstar in the United States and Canada and the termination of Allergan’s partnership with Debiopharm for strategic reasons.
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More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global Precocious puberty treatment market, providing historical data for 2018-2022 and forecast statistics from 2023-2033.
To understand opportunities in the precocious puberty treatment market the market is segmented on the basis of drug class ( Leuprorelin, Histrelin, Triptorelin, Nafarelin) By distribution channel (Hospital pharmacies, retail pharmacies, online pharmacies (By region (North America, Latin America, Europe, South Asia, East Asia, Oceania, Middle East and Africa).
Key Segments Profiled in the Precocious Puberty Treatment Industry Survey
By Drug Class:
By Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
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