Global endocrinology drugs market is expected to witness lucrative growth over the forecast period owing to rise in incidence rates of endocrine diseases. Growing adolescent populations which are at high risk of development of endocrine gland and associated disorders as a consequence of imbalance in hormones, and increasing prevalence of diabetes are also factors expected to drive growth of this market.
Increasing disease inducing unhealthy lifestyle habits such as smoking, high intake of cholesterol, weight gain, and work stress which enhance the incidence rates of endocrine disorders are expected to fuel market growth throughout the forecast period.
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Moreover, high prevalence of disorders such as hypothyroidism and hyperthyroidism as a consequence of less or more iodine intake is also anticipated to propel growth of this market. Application of hormone replacement therapy in different chronic and autoimmune diseases is also expected to boost growth of this market.
However, illegal use of these drugs including growth hormone for enhancement in performance by sports professionals which attracts implementation of stringent regulations over their distribution is a factor expected to restrain growth of this industry.
Increasing uses of endocrinology drugs in treatment of oncology diseases such as cervical and prostate cancer is expected to boost this market growth. Corticosteroids are the class of adrenocorticoid drugs that act on glands for treatment of cancer diseases by mechanism of cell suppression.
Furthermore, development of different topical as well as sustained release formulations using generic drugs in order to improve ease of drug delivery and enhance therapeutic efficacy at desired site are expected to propel growth of endocrinology therapeutics market during the forecast period.
Additionally, applications of endocrine drugs such as dexamethasone in skin infections and cosmetic formulations for treatment of allergies are expected to impact market growth positively over the forecast period.
Geographically, this market is segmented into North America, Asia Pacific, Europe, Latin America and MEA. In 2014, North America accounted for the largest market share with respect to revenue owing to presence of improved research facilities in this region for drug design and development of novel drug moieties. High awareness levels amongst population coupled with high per capita income include other expected factors responsible for large market share of this region.
Asia Pacific region is expected to register the fastest growth in this market over next seven years owing to the improvements in health care infrastructure of emerging economies such India and China.
Other factors responsible for expected growth over the forecast period include higher incentives provided by governments of developing economies of this region in order to increase number of market players and aid in R&D to treat diseases and acute infections that attack adolescent population.
Key players involved in this market include Facet Biotech Corporation, F. Hoffmann La Roche Ltd., Alacer Corporation, Novo Nordisk A/S, Abbott Laboratories, Sanofi, Eli Lilly and Company, Novartis International AG, and Pfizer Inc.
These players are involved in R&D alliances and collaborations in order to develop cost-effective novel drug molecules. Market players are also focusing on development of combination pharmaceutical products which can target on different hormonal disorders in order to maintain their market share.
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