(Health-NewsWire.Net, April 14, 2022 ) Cushings Syndrome And Acromegaly Treatment Market 2022
Cushings Syndrome And Acromegaly Treatment Industry is bound at a CAGR of 9.3% between 2018-2026. The current scenario is such that on-demand healthcare storage is being asked for. Cloud computing thus curtails operational expenses and capital as it simplifies sharing medical records, creates and maintains telehealth apps, and automates backend operations. This would be the scene with the healthcare vertical in the upcoming period.
Examples of key players covered in the Cushing’s syndrome and Acromegaly treatment market report are Novartis AG, Corcept Therapeutics, HRA Pharma, Bristol-Myers Squibb Company, Pfizer Inc., Ipsen Biopharmaceuticals, Inc., among others. The companies are focusing on developing advanced drugs for Cushing’s syndrome and Acromegaly treatment. However, the higher cost associated with Cushing’s syndrome and Acromegaly treatment would hamper the growth of Cushing’s syndrome and Acromegaly treatment market.
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Persistence Market Research (PMR) delivers the key insights on the global Cushing’s Syndrome and Acromegaly treatment market in its upcoming report titled “Cushing’s Syndrome and Acromegaly Treatment Market: Global Industry Analysis 2013–2017 and Forecast 2018 – 2026”. In terms of revenue, the global Cushing’s syndrome and Acromegaly treatment market is projected to register a CAGR of 9.3% over the forecast period.
The Cushing’s syndrome and Acromegaly treatment is segmented based on drug type, distribution channels and regions. Based on the drug type, the Cushing’s syndrome and Acromegaly Treatment is segmented into Cushing’s syndrome treatment and Acromegaly treatment. The Cushing’s syndrome treatment is further sub segmented into Glucocorticoid Receptor Inhibitors, Somatostatin, Ketoconazole HRA, and other Off-label. The Acromegaly treatment is further sub segmented into Somatostatin, Glucocorticoid Receptor Inhibitors, and other Off-label. Based on the distribution channels, the global Cushing’s syndrome and Acromegaly treatment market is segmented into hospital pharmacies, retail pharmacies, and online pharmacies.
The Cushing’s syndrome treatment segment is expected to be the leading segment in the Cushing’s Syndrome and Acromegaly Treatment market over the forecast period. The Cushing’s syndrome treatment segment is expected to witness a high growth at a CAGR of 9.5% over the forecast period.
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The Cushing’s syndrome and Acromegaly Treatment market is also segmented based on the distribution channels. The hospital pharmacies segment in the Cushing’s syndrome and Acromegaly treatment market is expected to have a dominant share, while the retail pharmacies segment in the Cushing’s syndrome and Acromegaly treatment is expected to grow at a CAGR of 9.7 % over the forecast period.
The growth of the global Cushing’s syndrome and Acromegaly treatment market is primarily driven by its growing prevalence coupled with the growing awareness and the rate of screening. The development of healthcare infrastructure around the world coupled with the governmental support towards orphan and rare diseases is also expected to drive the growth of the Cushing’s syndrome and Acromegaly treatment market. However, the high cost of drugs coupled with the lower screening rates in the developing world are factors expected to hamper the growth of the market. Government support in terms of orphan drug status and the financial and tax incentives have led to a high return on investment for the Cushing’s syndrome and acromegaly treatment market.
In the U.S., incentives include a 7-year period of market exclusivity following product launch, regardless of patent life, a waiver on Food and Drug Administration fees, and 50% tax credit on clinical studies. In the EU, Regulation offers 10-year market exclusivity, with tax credits offered by individual EU markets. In 2012, FDA Safety Innovation Act that has made rare disease drugs to progress through clinical trials activities. This has translated into driving the global sales of orphan drugs by 10% in a year between 2005-2011, and a 400 orphan drugs approvals in the U.S. and EU region.
This report assesses the trends that are driving the growth of each segment of the Cushing’s syndrome and Acromegaly treatment market on the global as well as regional level, and offers potential takeaways that proves substantially useful for manufacturers planning to enter the Cushing’s syndrome and Acromegaly treatment market.
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North America is expected to be the dominant regional market for Cushing’s syndrome and Acromegaly treatment, accounting for a high revenue share in 2017. The U.S. Cushing’s Syndrome and Acromegaly Treatment market is expected to account for a large share and to grow at a CAGR of 9.8 % over the forecast period, while Canada is expected to register a CAGR of 9.0%. Europe and Asia Pacific Cushing’s Syndrome and Acromegaly treatment markets collectively are expected to grow at CAGRs of 8.9 % and 10.5%, respectively. The market is expected to shift in favour of developing regions led by Asia Pacific nation of China owing to its fast developing economy and healthcare.
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