The Global Endocrinology Drugs market is to grow at a CAGR of 7.58 percent over the period 2012-2016. One of the key factors contributing to this market growth is the introduction of new drugs. The Global Endocrinology Drugs market has also been witnessing the increase in market consolidation. However, the off-label use of the human growth hormone could pose a challenge to the growth of this market.
The Global Endocrinology Drugs market is witnessing the introduction of innovative and improved drugs and formulations using various drug-delivery technologies. The major players in the Global Endocrinology Drugs market are concentrating on developing new formulations using different drug-delivery routes. Hormone replacement therapy usually involves frequent injections. Novel formulations are using quicker and easier delivery routes than the frequent injections involved in hormone replacement therapy. In order to increase patient compliance, the major players in the Global Endocrinology market are developing novel formulations using various drug-delivery technologies.
The anticipated launch of new molecules such as PLB03002, Arimidex, Pasireotide, and C2L is expected to drive the growth of the market during the forecast period. PLB03002 is a new sustained-release recombinant human growth hormone. It is an improved formulation for the treatment of growth hormone deficiency. Pasireotide is a multireceptor-targeting somatostatin analog. C2L is an improved formulation of Sandostatin LAR. It is an improved formulation of octreotide. It is under investigation for the treatment of acromegaly. Hence, the introduction of new and better drugs is expected to drive the growth of the market.
The key vendors dominating this market space are Abbott Laboratories, Eli Lilly and Co., Novartis AG, and Pfizer Inc.
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