The overall cost of the human growth hormone (hGH) treatment has declined by more than 25 per cent with the biosimilars being approved in Europe. The European HGH producers are now willing to take a lead in obtaining marketing approval from EMEA for other indications and to increase research in alternative drug delivery methods to control the price pressures from biosimilars. The success of the initiatives taken by the manufacturers will be extremely important for the growth in the European HGH market.
It was discovered in the Frost & Sullivan, European Human Growth Hormone Market analysis that the market generated an income of around $846.4 million in 2007 and is estimated to increase at a compound annual growth rate (CAGR) of 2.4 per cent for the period 2007-2014.
“Currently, hGH treatment is approved for only five medical conditions in Europe,” notes Frost & Sullivan Research Analyst Prabakar Sampath. “Further growth of the European hGH market depends on the EMEA’s approval of hGH treatment for new indications such as cachexia and achondroplasia.”
Though the EMEA demands strict scientific proof for the efficiency of HGH in the treatment of various ailments these conditions, the U.S. Food and Drug Administration (FDA) has approved hGH treatment for several conditions including cachexia. Even though research is being conducted to prove the effectiveness of somatropin, the HGH manufacturers are unwilling to register for marketing approval ever since the EMEA declined to provide approval for Serostim, Merck-Serono’s hGH product for AIDS-related HGH wasting.
Developing alternative drug delivery methods is one of the most important challenges faced by the European HGH manufacturers since the biochemical nature of hGH shows that HGH treatment is more effective when the protein is injected into the blood stream using a hypodermic needle.
“One of the chief competitive factors for hGH products is the delivery method, which represents an avenue for product differentiation,” remarks Sampath. “Alternative drug delivery methods could increase the market size by attracting more users, particularly considering that the majority of hGH users are children below the age of fifteen and that hGH injections have to be given daily.”
It is important that the HGH producers enter into partnerships with drug delivery design companies to carry out somatropin delivery through oral and transdermal means. Such products would prove to a blessing in disguise for children and adults who are afraid of needles and have to to be injected on a daily basis.
European Human Growth Hormones Market is part of the Pharmaceuticals & Biotechnology Growth Partnership Services Programme, which also includes research in the following markets: European Biosimilars Market Outlook, European Therapeutic Monoclonal Antibodies Market, European Emerging Generic Pharmaceuticals Market and European Vaccines Market. All research included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.