The Global Somavert Market is estimated to grow at a significant CAGR during the forecast period. Somavert is a human-made protein, similar to the growth hormone of humans. Pegvisomant binds to the body receptor and blocks the effects of the growth hormone. Somavert is typically given without successful symptom treatment after other medications, surgery or radiation have been treated. Somavert is an enzyme or drug that is used to treat the hormone acromegaly that causes excessive growth hormone (EGH) in adults. In body areas such as the hands, feet and face, patients with this disease have large bones. Acromegaly is the result of non-cancerous growth and affects mostly mid-aged adults. The enzyme can inhibit GH expansion as a growth hormone receptor antagonist and return blood insulin growth factor I (IGF-I) levels in patients with acromegaly to normal.
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Global awareness of hormone problem drugs and therapies is increasing is the driving factor that is driving the market expansion. The improved overall clinical status of the patient as a result of treatment has contributed significantly to the growth of the market. The rise in the number of patients, particularly among adults, with this rare disease increases the demand for this drug that is expected to significantly boost the market growth. Technological advances and increased R&D expenses in the discovery of innovative products by major manufacturers offer advanced opportunities that boost the market growth.
Somavert (pegvisomant) is a sterile, white lyophilized injector for reconstitution in subcutaneous form. The Somavert packages are supplied with a separate glass vial that includes sterile injection water, USP, a sterile non-pyrogenic water preparation for injection that does not contain a diluent bacteriostatic, antimicrobial agent, and buffer. Somavert (Pegvisomant for injecting) has been approved by the FDA to treat acromegaly in patients who have had or are not appropriate for inadequate response with surgery and radiation therapy and other medical treatments.
Market Coverage
- The market number available for – 2020-2027
- Base year- 2020
- Forecast period- 2021-2027
Segments Covered
- By Type
- By Application
Regions Covered
- North America
- Europe
- Asia-Pacific
- Rest of the world
- Competitive Landscape- Chiasma, Inc., F.Hoffmann La Roche, Ltd., Boehringer Ingelheim International GmbH, Novartis AG, and Ipsen Group., among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
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