The global hypopituitarism diagnostics market is on the brink of a substantial expansion, according to the latest industry analysis, with experts forecasting a remarkable market value of USD 447.41 million by 2033. This projection marks a significant rise from its value of USD 250 million in 2023, reflecting a Compound Annual Growth Rate (CAGR) of 6%.
Hypopituitarism, characterized by the underactivity of the pituitary gland, is gaining prominence in the medical landscape due to its profound association with a deficiency in growth hormone. This condition underscores the critical role of human growth hormone in fostering growth, reproduction, and regeneration, emphasizing the urgent need for diagnostic advancements and effective treatments.
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The anticipated growth in the hypopituitarism diagnostics market signifies a burgeoning demand for innovative diagnostic tools and techniques to accurately detect and manage this condition. With advancements in medical technology and an increasing emphasis on early diagnosis and intervention, healthcare professionals are better equipped than ever to address the complexities of hypopituitarism.
Between 2017 and 2022, the hypopituitarism diagnostics market exhibited a steady 4% CAGR, laying the foundation for the anticipated accelerated growth in the coming decade. The growing awareness of hormone deficiencies, affecting both children and adults, is fueling extensive research and development efforts.
In a notable development, Pfizer Inc. and its partner OPKO Health Inc. announced a successful Phase III trial in October 2019, demonstrating non-inferiority of Somatrogon to daily somatropin in pre-pubertal children using human growth hormone. This milestone underscores the commitment of key industry players to addressing the challenges associated with hypopituitarism.
Furthermore, innovative solutions are emerging from start-ups dedicated to advancing treatments for this uncommon illness. One such trailblazer is Eli, a Canadian FemTech start-up. Eli is at the forefront of introducing a groundbreaking, saliva-based at-home gadget designed to measure daily hormone variations. Complementing this device is an intuitive app offering personalized insights, empowering women to understand and manage their hormonal health effectively.
Eli’s mission goes beyond technology; the company is breaking new ground in demystifying hormones, a critical aspect of women’s reproductive and overall health. By providing access to daily hormonal data, Eli empowers women to make informed decisions about their well-being.
As the hypopituitarism diagnostics market continues its upward trajectory, Eli and other industry innovators are playing a pivotal role in shaping the landscape of hormone-related healthcare. The combination of technological advancements and a deeper understanding of hormonal health is poised to revolutionize how individuals approach their daily and long-term health decisions.
Key Takeaways from the Market Study:
- From 2018-2022, the hypopituitarism diagnostics market grew at a CAGR of 4%
- The global hypopituitarism diagnostics market is expected to grow with a 6% CAGR during 2023-2033.
- As of 2033, the Hypopituitarism Diagnostics Market is expected to reach USD 447.41 Million
- According to the FMI analysis, hospitals account for the largest market share
- North America is expected to possess 25% market share for the Hypopituitarism Diagnostics market
- Asia Pacific is predicted to increase significantly throughout the forecast period, with a CAGR of 5% during the forecast period.
“Due to the hectic life patterns of the citizens working in cities, there has been an observed increase in stress and sleeplessness. These challenges are emerging as the main factor for the deteriorating health in the urban population by disrupting the hormonal balance in the human body,” Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.)
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Market Competition:
Key players in the Hypopituitarism Diagnostics market are Abbott Laboratories, Becton, Dickinson and Company, BioMerieux, Bio-Rad Laboratories Inc., Danaher Corporation, Siemens AG, Hologic Inc., Qiagen NV, F. Hoffmann-La Roche AG, and Thermo Fisher Scientific.
- In January 2022, Pfizer Inc. and OPKO Health, Inc. announced that the U.S. Food and Drug Administration (FDA) issued a Complete Response Letter (CRL) for the Biologics License Application (BLA) for somatrogon. Somatrogon is an investigational once-weekly long-acting recombinant human growth hormone for the treatment of growth hormone deficiency (GHD) in pediatric patients. Pfizer is evaluating the FDA’s comments and will work with the agency to determine an appropriate path forward.
More Insights Available:
FMI, in its new offering, presents an unbiased analysis of the global hypopituitarism diagnostics market, presenting historical analysis from 2018 to 2022 and forecast statistics for the period of 2023-2033.
Key Segments Profiled in the Hypopituitarism Diagnostics Industry Survey:
By Test Type:
- Hormone Stimulation Tests
- MRI or CT Scan
- Visual Field Check
- Insulin Tolerance Test
By End User:
- Specialty Clinics
- Hospitals
- Academic Research Institutes
- Others
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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