Cost of HGH treatments reduced, markets in for growth?
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European HGH market is in for growth now because with the approval of biosimilars in Europe, the overall cost of human growth hormone (HGH) treatment has reduced by more than 25 per cent. ?
New analysis from Frost & Sullivan, European Human Growth Hormone Market, finds that the market generated revenues of $846.4 million in 2007 and is estimated to grow at a compound annual growth rate (CAGR) of 2.4 per cent for the period 2007-2014.
“Currently, HGH treatment is approved for only five medical conditions in Europe,” notes Frost & Sullivan Research Analyst Prabakar Sampath. “Further growth of the European HGH market depends on the EMEA’s approval of HGH treatment for new indications such as cachexia and achondroplasia.”
However, EMEA demands strict scientific evidence for the efficacy of HGH in conditions like cachexia approved by FDA. EMEA had also declined approval for Serostim, Merck-Serono’s HGH product for AIDS-related wasting. However, research is underway to prove the efficacy of somatropin in several other indications.?
However, one of the main challenges before the manufacturers is finding an alternate effective delivery method as it has been shown that HGH treatment is more effective when the protein is injected into the blood stream using a hypodermic needle. This is a drawback for treatment in children and also for adults who have to inject themselves everyday.?
Sampath from Frost & Sullivan remarks,
“One of the chief competitive factors for HGH products is the delivery method, which represents an avenue for product differentiation. Alternative drug delivery methods could increase the market size by attracting more users, particularly considering that the majority of HGH users are children below the age of fifteen and that HGH injections have to be given daily.”
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