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Drug Price Trends for GENOTROPIN
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Average Pharmacy Cost for GENOTROPIN
| Drug Name | NDC | Price/Unit ($) | Unit | Date |
|---|---|---|---|---|
| GENOTROPIN 12 MG CARTRIDGE | 00013-2646-81 | 1715.72667 | EACH | 2024-12-18 |
| GENOTROPIN 5 MG CARTRIDGE | 00013-2626-81 | 709.40308 | EACH | 2024-12-18 |
| GENOTROPIN MINIQUICK 0.6 MG | 00013-2651-02 | 88.22163 | EACH | 2024-12-18 |
| GENOTROPIN MINIQUICK 0.2 MG | 00013-2649-02 | 29.07021 | EACH | 2024-12-18 |
| GENOTROPIN MINIQUICK 0.4 MG | 00013-2650-02 | 58.68334 | EACH | 2024-12-18 |
| GENOTROPIN MINIQUICK 0.4 MG | 00013-2650-02 | 58.73086 | EACH | 2024-11-20 |
| >Drug Name | >NDC | >Price/Unit ($) | >Unit | >Date |
GENOTROPIN Market Analysis and Financial Projection
Market Analysis and Price Projections for Genotropin
Introduction to Genotropin
Genotropin, a recombinant human growth hormone (somatropin), is widely used for the treatment of growth hormone deficiency (GHD) in children and adults, as well as other conditions such as Turner syndrome, idiopathic short stature, and Prader-Willi syndrome. Here’s a comprehensive analysis of the market and price projections for Genotropin.
Market Size and Growth
The global human growth hormone market, which includes Genotropin, is experiencing significant growth. As of 2024, the global human growth hormone market size is estimated at USD 7.20 billion and is projected to reach USD 23.38 billion by 2034, growing at a Compound Annual Growth Rate (CAGR) of 12.5% during the forecast period[1].
Regional Market Analysis
North America is the largest market for human growth hormones, including Genotropin, with a market size of USD 3.10 billion in 2024. This region is expected to grow at a CAGR of 12.63% from 2024 to 2034. The U.S. market, in particular, is substantial, with a market size of USD 2.17 billion in 2024, projected to reach USD 7.17 billion by 2034, growing at a CAGR of 12.71%[1].
Competitive Landscape
Genotropin competes with other prominent brands in the market, such as Norditropin, Humatrope, Saizen, and Omnitrope. Norditropin, manufactured by Novo Nordisk, currently holds the largest market share, valued at USD 1.6 billion in 2023, and is expected to maintain its dominance with a CAGR of 4.9% from 2024 to 2032[4].
Pricing and Cost Analysis
The pricing of Genotropin varies based on the dosage and quantity. For example, a 7-pack of 0.2 mg Genotropin subcutaneous powder for injection can cost from $233.26, while a 7-pack of 2 mg can cost from $2,247.35[2].
In terms of cost comparison, Genotropin is generally cost-neutral or offers cost savings compared to some other brands. For instance, the daily cost of the maximum dose of Genotropin is less than that of Humatrope and Nutropin but higher than that of Saizen. This suggests that Genotropin could offer significant cost savings for public health plans if it replaces other widely used somatropins[3].
Factors Influencing Market Growth
Several factors are driving the growth of the human growth hormone market, including Genotropin:
Increasing R&D Initiatives
Manufacturers are investing heavily in research and development to create growth hormones with fewer side effects and better long-term treatment potential. This continuous innovation is expected to drive market growth[5].
Expanding Government Initiatives
Government initiatives and public health programs aimed at improving access to growth hormone treatments are also contributing to market expansion[5].
Growing Number of Hospital Pharmacies
The increasing number of hospital pharmacies and other healthcare facilities will provide considerable market expansion potential for human growth hormones, including Genotropin[1].
Price Projections
Given the market growth and competitive landscape, here are some key price projection insights:
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Short-Term Pricing: The current pricing of Genotropin, as mentioned earlier, ranges widely based on dosage. These prices are expected to remain competitive as manufacturers continue to balance profitability with patient affordability.
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Long-Term Pricing: With the market expected to grow significantly, prices may stabilize or decrease slightly due to increased competition and economies of scale. However, the overall trend suggests that prices will remain substantial due to the high cost of production and research involved in these treatments.
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Cost Savings: As Genotropin continues to offer cost savings compared to some other brands, it is likely to gain market share, which could influence pricing strategies. Public health plans may see significant cost savings if Genotropin replaces other widely used somatropins[3].
Key Takeaways
- The global human growth hormone market, including Genotropin, is projected to grow significantly, reaching USD 23.38 billion by 2034.
- North America, particularly the U.S., is a major market for Genotropin.
- Genotropin competes with other brands like Norditropin and Humatrope but offers cost savings in many cases.
- Pricing varies widely based on dosage, and long-term pricing is expected to remain competitive.
- Factors such as R&D initiatives, government programs, and the growing number of hospital pharmacies drive market growth.
FAQs
What is the current market size of the global human growth hormone market?
The global human growth hormone market size is estimated at USD 7.20 billion in 2024[1].
How is the market for human growth hormones expected to grow?
The market is expected to grow at a CAGR of 12.5% from 2024 to 2034, reaching USD 23.38 billion by 2034[1].
Which region dominates the human growth hormone market?
North America, particularly the U.S., dominates the human growth hormone market[1].
How does Genotropin compare in terms of cost to other brands?
Genotropin is generally cost-neutral or offers cost savings compared to brands like Humatrope and Nutropin but is more expensive than Saizen[3].
What factors are driving the growth of the human growth hormone market?
Increasing R&D initiatives, expanding government initiatives, and the growing number of hospital pharmacies are key factors driving market growth[1][5].
What is the pricing range for Genotropin?
The pricing for Genotropin ranges from approximately $233.26 for a 7-pack of 0.2 mg to $2,247.35 for a 7-pack of 2 mg[2].
Sources
- Precedence Research: Human Growth Hormone Market Size To Hit USD 23.38 Bn By 2034.
- Drugs.com: Genotropin Prices, Coupons, Copay Cards & Patient Assistance.
- CDA-AMC: Pharmacoeconomic Review Report: somatropin (Genotropin).
- SNS Insider: Growth Hormone Deficiency Market Size, Share & Analysis 2032.
- PharmiWeb: Human Growth Hormone Treatment and Drugs Market Soars to US$ 5.26 Billion in 2033.
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