Endocrinology Drugs Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 101.60 Billion |
| Market Size (2029) | USD 136.60 Billion |
| CAGR (2024 - 2029) | 6.09 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Endocrinology Drugs Market Analysis
The Endocrinology Drugs Market size is estimated at USD 101.60 billion in 2024, and is expected to reach USD 136.60 billion by 2029, growing at a CAGR of 6.09% during the forecast period (2024-2029).
- The major factors driving the growth of the market include an increase in the prevalence of endocrine disorders, a rising adolescent population with endocrine disorders, and extensive research and development. An increase in endocrine disorders, specifically diabetes, is one of the major factors driving the growth of the endocrinology drug market.
- According to the International Diabetic Foundation (IDF) 2022 update, approximately 537 million adults (20-79 years) had diabetes in 2022. The total number of people living with diabetes is projected to rise to 643 million by 2030 and 783 million by 2045. Thus, the rise in diabetes cases globally will likely increase the demand for anti-diabetic drugs, fueling the endocrinology drugs market growth during the forecast period.
- Moreover, the increase in the development of endocrine drugs and the rise in product launches by the major players are expected to boost market growth. For instance, in December 2022, Glenmark Pharma launched a combination drug for diabetic patients. This fixed-dose combination offers patients with type 2 diabetes the convenience of once-daily dosing to improve their glycemic control. It launched under the brand name Zita-PioMet and contained teneligliptin (20 mg), pioglitazone (15 mg), and metformin (500 mg/1,000 mg) in a sustained release (SR) formulation.
- Similarly, in December 2022, Hikma Pharmaceuticals PLC launched Levothyroxine Sodium Injection in the United States. The product is available in ready-to-use vials in a 100 mcg/mL dose. Levothyroxine Sodium is an important medicine used in hospitals to treat myxedema coma. Also, the rising adolescent population with endocrine disorders is expected to propel the endocrinology drugs market over the forecast period. Extensive research and development on endocrine drugs, like new drug delivery systems, novel dosage forms, and formulations, are expected to increase the usage of the drugs, thus augmenting the market growth.
- Thus, considering the rise in endocrine diseases and the development of endocrine drugs, the endocrinology drugs market is expected to witness significant growth over the forecast period. However, the stringent regulatory framework for endocrinology drugs marketing and approvals is expected to restrain the market growth.
Endocrinology Drugs Market Trends
Diabetes is Expected to Dominate the Market During the Forecast Period
- The diabetes segment is expected to hold a significant market share in the endocrinology drugs market owing to the increase in cases of diabetes, the rise in the development of diabetic drugs, and the increase in investment in the development of diabetic drug research. For instance, as per the International Diabetic Federation (IDF) Atlas published in 2022, the number of diabetes cases in Africa was 24 million, 61 million in Europe, 73 million in Middle East and North Africa, 51 million in North America, and 32 in Southeast Asia. Hence, the high prevalence of diabetes is expected to increase the demand for diabetic drugs, thereby boosting market growth.
- Also, a rise in investments in the development of diabetic drugs by key players or government agencies is expected to fuel the growth of the segment. In August 2022, a researcher at North Carolina Agricultural and Technical State University received a four-year, USD 2.65 million grant to study the biomarkers of dietary flavonoids and targeting carbonyl stress to help prevent type 2 diabetes. The grant was provided by the National Institute of Diabetes and Digestive and Kidney Diseases (NIDDKD), which is part of the National Institutes of Health (NIH). Additionally, in 2021, the NIH allocated USD 1.1 billion for diabetes research, making it the largest funder of diabetes research in the United States.
- Moreover, the rise in product launches and strategic initiatives by the market players is likely to increase the demand for diabetic drugs. For instance, in May 2022, the Food and Drug Administration (FDA) approved Mounjaro (tirzepatide) injection to improve blood sugar control in adults with type 2 diabetes as an addition to diet and exercise. Similarly, in March 2022, the FDA approved a 2.0 mg dose of Ozempic (once-weekly semaglutide subcutaneous injection), a glucagon-like peptide-1 (GLP-1) analog for the treatment of adults with type 2 diabetes by the Novo Nordisk.
- Hence, due to the rise in cases of diabetes and the increase in the research funding for the development of diabetic drugs, the diabetes segment is expected to witness significant growth during the forecast period.
North America is Anticipated to Hold a Significant Share in the Market During the Forecast Period
- North America is anticipated to have a significant market share owing to the well-established healthcare infrastructure, high prevalence of endocrine diseases, and new product launches.
- For instance, as per the American Cancer Society 2023 updates, the estimated number of new thyroid cancer cases in the United States is 43,720. Hence, a high prevalence of thyroid cancer is likely to utilize the drugs and therapies, thereby driving the market growth during the forecast period. Moreover, as per the Diabetes Canada update, the 2022 budget committed USD 35 million over five years for diabetes research, surveillance, prevention, innovation, and the development of a comprehensive diabetes framework in Canada.
- The strategic activities of market players, such as product launches, strategic acquisitions, and collaborations, are expected to contribute to market growth during the forecast period. For example, in March 2023, Eton Pharmaceuticals, a pharmaceutical company focused on developing and commercializing treatments for rare diseases, acquired a rare disease product candidate, ET-600, from Tulex Pharmaceuticals. ET-600 is an innovative product candidate under development for treating an endocrinology condition estimated to impact fewer than 5,000 pediatric patients in the United States.
- As a result of the increase in cases of endocrine diseases and the rise in research funding for the development of endocrine drugs, North America is expected to hold a significant market share during the forecast period.
Endocrinology Drugs Industry Overview
The endocrinology drugs market is fragmented in nature due to the presence of several companies operating globally. The major players include AbbVie Inc., AstraZeneca PLC, Novartis AG, Eli Lilly and Company, Merck KGaA, Novo Nordisk A/S, Sanofi, and Takeda Pharmaceutical Company Limited.
Endocrinology Drugs Market Leaders
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AbbVie Inc
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AstraZeneca Plc
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Novartis AG
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Novo Nordisk A/S
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Eli Lilly and Company
*Disclaimer: Major Players sorted in no particular order
Endocrinology Drugs Market News
- May 2024: Corcept Therapeutics announced that its phase 3 GRACED trial met its primary endpoint. The results indicated that the selective cortisol modulator improved blood pressure control in patients with hypercortisolism during the randomized withdrawal phase of the trial.
- February 2023: Akums Drugs and Pharmaceutical Limited, a contract drug manufacturing company, received approval from the Drug Controller-General of India (DCGI) for their product Lobeglitazone, an anti-diabetic drug. The drug is a new formulation explicitly manufactured for type 2 diabetic patients to help them improve pancreatic beta-cell function.
Endocrinology Drugs Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increase in the Prevalence of Endocrine Disorders
4.2.2 Extensive Research and Development Activities and Rise in Product Launch
4.3 Market Restraints
4.3.1 Stringent Regulatory Framework
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD)
5.1 By Therapy Area
5.1.1 Adrenal Insufficiency
5.1.2 Diabetes
5.1.3 Thyroid Hormone Disorder
5.1.4 Other Therapy Areas
5.2 By Distribution Channel
5.2.1 Hospital Pharmacies
5.2.2 Retail Pharmacies
5.2.3 Online Pharmacies
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Italy
5.3.2.5 Spain
5.3.2.6 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 South Korea
5.3.3.6 Rest of Asia-Pacific
5.3.4 Middle East and Africa
5.3.4.1 GCC
5.3.4.2 South Africa
5.3.4.3 Rest of Middle East and Africa
5.3.5 South America
5.3.5.1 Brazil
5.3.5.2 Argentina
5.3.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 AbbVie Inc.
6.1.2 Biocon
6.1.3 AstraZeneca PLC
6.1.4 Novartis AG
6.1.5 Eli Lilly and Company
6.1.6 Pfizer Inc.
6.1.7 Merck KGaA
6.1.8 Novo Nordisk A/S
6.1.9 Sanofi
6.1.10 Takeda Pharmaceutical Company Limited
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Endocrinology Drugs Industry Segmentation
As per the scope of the report, endocrinology is the branch of physiology and medicine concerned with endocrine glands and hormones. The endocrine drugs used in treating disorders of the endocrine system include the glands and organs that make hormones. These disorders include diabetes, infertility, and thyroid, adrenal, and pituitary gland problems.
The endocrinology drugs market is segmented by therapy area, distribution channel, and geography. By therapy area, the market is segmented as adrenal insufficiency, diabetes, thyroid hormone disorder, and other therapy areas. By distribution channel, the market is segmented into hospital pharmacies, retail pharmacies, and online pharmacies. By geography, the market is segmented as North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The report also covers the estimated market sizes and trends for 17 countries across major regions globally.
The report offers the value (in USD) for the above segments.
| By Therapy Area | |
| Adrenal Insufficiency | |
| Diabetes | |
| Thyroid Hormone Disorder | |
| Other Therapy Areas |
| By Distribution Channel | |
| Hospital Pharmacies | |
| Retail Pharmacies | |
| Online Pharmacies |
| Geography | ||||||||
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Endocrinology Drugs Market Research FAQs
How big is the Endocrinology Drugs Market?
The Endocrinology Drugs Market size is expected to reach USD 101.60 billion in 2024 and grow at a CAGR of 6.09% to reach USD 136.60 billion by 2029.
What is the current Endocrinology Drugs Market size?
In 2024, the Endocrinology Drugs Market size is expected to reach USD 101.60 billion.
Who are the key players in Endocrinology Drugs Market?
AbbVie Inc, AstraZeneca Plc, Novartis AG, Novo Nordisk A/S and Eli Lilly and Company are the major companies operating in the Endocrinology Drugs Market.
Which is the fastest growing region in Endocrinology Drugs Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Endocrinology Drugs Market?
In 2024, the North America accounts for the largest market share in Endocrinology Drugs Market.
What years does this Endocrinology Drugs Market cover, and what was the market size in 2023?
In 2023, the Endocrinology Drugs Market size was estimated at USD 95.41 billion. The report covers the Endocrinology Drugs Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Endocrinology Drugs Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Global Endocrinology Drugs Industry Report
Statistics for the 2024 Endocrinology Drugs market share, size and revenue growth rate, created by 糖心vlog传媒鈩� Industry Reports. Endocrinology Drugs analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
