Global Endocrinology Drugs Market Report (by Therapy Area, Distribution Channel and Region): A USD 80.93 Billion Market by 2034, Led by Advancements in Diabetes Therapy and Rising Demand

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Mar 08, 2024, 05:30 ET

DUBLIN, March 8, 2024 /PRNewswire/ -- The "Global Endocrinology Drugs Market by Therapy Area, Distribution Channel, and By Region" report has been added to ResearchAndMarkets.com's offering.

The global endocrinology drugs market size was estimated to be USD 39.21 billion in 2023 and is expected to reach USD 80.93 billion by 2034 with a CAGR of 6.81% during the forecast period 2024-2034. The rising prevalence of endocrine disorders, expanding and aging population, technological advancements, increasing healthcare awareness and spending, and rising government initiatives will drive market growth.

The need for medicine rises as a result of increased public knowledge of endocrine problems, which promotes early diagnosis and treatment. Endocrinology medications are more widely available in emerging nations due to growing healthcare infrastructure and rising disposable incomes. For instance, Novo Nordisk reported good Phase 3 trial findings in December 2023 for Icodec-1, a long-acting GLP-1 receptor agonist that may be used once weekly to treat type 2 diabetes.

By therapy area, the diabetes drugs segment accounted for the highest revenue-grossing segment in the global endocrinology drugs market in 2023 owing to the the increasing prevalence of diabetes worldwide, a growing aging population, and advancements in diabetes drug therapies. For instance, in December 2023, Sanofi filed regulatory applications for adult-onset diabetes in China and Japan for Soliflozin, extending the company's reach with SGLT2 inhibitors. Additionally, the other therapy areas segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing focus on addressing unmet medical needs, advancements in drug development technologies, and a rising understanding of various endocrine disorders beyond diabetes.

By distribution channel, the hospital pharmacies segment accounted for the highest revenue-grossing segment in the global endocrinology drugs market in 2023 owing to the growing prevalence of chronic endocrine disorders requiring specialized medical attention and the increasing trend of hospital-based treatments. For instance, in November 2023, tirzepatide, a dual GIP/GLP-1 receptor agonist, presented favorable Phase 3 trial data showing its advantages over existing diabetic treatments in decreasing blood sugar. Additionally, the online pharmacies segment is predicted to grow at the fastest CAGR during the forecast period owing to the growing adoption of e-commerce platforms, increasing digitalization in healthcare services, and the convenience offered by online pharmacies for the purchase and delivery of endocrinology drugs.

The North American region is anticipated to have the highest revenue share during the forecast period owing to the well-established healthcare infrastructure, a high prevalence of endocrine disorders, significant investments in research and development, and favorable reimbursement policies. Additionally, the Asia Pacific region is predicted to grow at the fastest CAGR during the forecast period owing to the increasing awareness about endocrine disorders, a rising geriatric population, improving healthcare infrastructure, and expanding access to medical services.

Report Scope:

Base Year: 2023
Forecast Period: 2024-2034
Study Coverage
Market Forecast by Therapy Area, Distribution Channel
Market Forecast for 5 Regions and 17+ Countries
- North America (U.S. and Canada)
- Europe (Germany, France, UK, Spain, Italy, Russia, Rest of Europe)
- Asia Pacific (China, Japan, India, Australia, South Korea, Rest of APAC)
- Latin America (Brazil, Mexico, Argentina, Rest of LATAM)
- MEA (South Africa, GCC, Rest of MEA)
Company Profiles of the Top 10+ Major Market Players

Key Topics Covered:

1. Research Methodology

2. Introduction
2.1. Market Definition
2.2. Global Endocrinology Drugs Market Overview

3. Executive Summary

4. Market Environment Analysis
4.1. Porter's 5 Forces Analysis
4.2. PESTEL Analysis
4.3. SWOT Analysis

5. Market Dynamics

6. COVID-19 Impact Analysis

7. Endocrinology Drugs Market: Therapy Area Estimates & Trend Analysis
7.1. Therapy Area Segment Opportunity Analysis
7.2. Adrenal insufficiency
7.3. Diabetes
7.4. Thyroid Hormone Disorder
7.5. Other Therapy Areas

8. Endocrinology Drugs Market: Distribution Channel Estimates & Trend Analysis
8.1. Distribution Channel Segment Opportunity Analysis
8.2. Hospital Pharmacies
8.3. Retail Pharmacies
8.4. Online Pharmacies

9. Regional Market Analysis
9.1. Regional Market Opportunity Analysis

10. North America Endocrinology Drugs Market

11. Europe Global Endocrinology Drugs Market

12. Asia Pacific Global Endocrinology Drugs Market

13. Latin America Global Endocrinology Drugs Market

14. MEA Global Endocrinology Drugs Market

15. Competitor Analysis
15.1. Company Market Share Analysis, 2023
15.2. Major Recent Developments

16. Company Profiles

Novo Nordisk
Sanofi
Eli Lilly
Merck
AstraZeneca
Johnson & Johnson
Pfizer
AbbVie
Novartis
GlaxoSmithKline
Boehringer Ingelheim
Bayer
Takeda Pharmaceutical Company
Teva Pharmaceutical Industries
Bristol Myers Squibb.

For more information about this report visit https://www.researchandmarkets.com/r/y7ryo0

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