Newark, New Castle, USA, May 18, 2023 (GLOBE NEWSWIRE) -- Growth Plus Reports calculated the size of the global market for in 2022 and is expected to rise rapidly at a revenue CAGR of 5.9% by 2031.
Analysis of the global market for melanocortin agonists indicates that during the forecast period, revenue share is likely to increase significantly. Melanocortin receptors are activated in the brain and other tissues by medications known as melanocortin agonists. These receptors control several physiological functions, such as inflammation, metabolism, and hunger.
Key Takeaways:
- The occurrence of unhealthy lifestyles is driving the market revenue share.
- The rising demand for genetic obesity treatment is driving the market demand.
- The increasing investments in R&D activities are fostering market revenue growth rapidly.
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Melanocortin Agonists Market Scope
| Report Attribute | Details |
| CAGR | 5.9% |
| Base Year for Estimation | 2022 |
| Forecast Period | 2023 to 2031 |
| Historical Year | 2021 |
| Segments Covered | Drug Type, Application, and Region |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Recent Development in the Melanocortin Agonists Market:
- In May 2023, Health Canada granted IMCIVREE to Rhythm Pharmaceuticals, a biopharmaceutical firm. Those with obesity brought on by Bardet-Biedl syndrome, genetic confirmation of biallelic pro-opiomelanocortin, proprotein convertase subtilisin/kexin type 1 or leptin receptor deficiencies or genetic variants determined as pathogenic, likely pathogenic, or of undetermined significance can use this drug as a subcutaneous injection solution to manage their weight.
Competitive Landscape
A list of the prominent players operating in the global market for melanocortin agonists includes:
- Palatin
- Rhythm Pharmaceuticals Inc.
- Clinuvel Pharmaceuticals Ltd.
Market Drivers and Restraints:
The global melanocortin agonists market revenue is driven by the increasing prevalence of obesity and related metabolic disorders, the growing awareness about the benefits of melanocortin agonists in treating these conditions, and the development of new and innovative products by pharmaceutical companies.
However, due to the high cost of these drugs, which may limit their accessibility to patients, and the potential for adverse effects such as nausea, vomiting, and headache, the melanocortin agonists market revenue growth is expected to be restrained.
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Market Segmentation:
- Based on drug type, the global melanocortin agonists market is segmented into Setmelanotide, Bremelanotide, and Afamelanotide.
- Based on application, the global melanocortin agonists market is segmented into preventing phototoxicity in erythropoietic protoporphyria, obesity, hypoactive sexual desire disorder, and others.
Segmentation By Drug Type
Based on the drug type, the setmelonitide segment dominates the global melanocortin agonists market with the largest revenue share. This sizable revenue share is due to the continuous research and development activities to validate the safety and efficacy of setmelanotide. These drugs are largely used for treating obesity caused by genetic disorders.
Regional Growth Dynamics
Based on the region, North America, with the largest revenue share, dominates the global melanocortin agonists market. This share of revenue is attributed to the region's high rate of obesity, the presence of cutting-edge healthcare facilities, and a supportive regulatory environment. The ongoing involvement of regional businesses in mergers, acquisitions, and partnerships is also anticipated to enhance the market outlook for melanocortin agonists.
Report Coverage
Growth Plus Reports extensively researched the world market for melanocortin agonists. We looked at the basic market traits, important investment spheres, regional growth analytics, ten years of revenue projections, rival market players, and mergers and acquisitions.
Table of Content
- INTRODUCTION
- Market Ecosystem
- Timeline Under Consideration
- Historical Years – 2021
- Base Year – 2022
- Forecast Years – 2023 to 2031
- Currency Used in the Report
- RESEARCH METHODOLOGY
- Research Approach
- Data Collection Methodology
- Data Sources
- Secondary Sources
- Primary Sources
- Market Estimation Approach
- Bottom Up
- Top Down
- Market Forecasting Model
- Limitations and Assumptions
- PREMIUM INSIGHTS
- Current Market Trends (COVID-19 Perspective)
- Key Players & Competitive Positioning (2022)
- Regulatory Landscape
- MARKET DYNAMICS
- Drivers
- Restraints/Challenges
- Opportunities
- GLOBAL MELANOCORTIN AGONISTS MARKET- ANALYSIS & FORECAST, BY DRUG TYPE
- Setmelanotide
- Bremelanotide
- Afamelanotide
- GLOBAL MELANOCORTIN AGONISTS MARKET- ANALYSIS & FORECAST, BY APPLICATION
- Prevention of Phototoxicity in Erythropoietic Protoporphyria
- Obesity
- Hypoactive Sexual Desire Disorder
- Others
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- Winning imperatives
- Exhaustive coverage on 'Strategic Developments' registered by leading players of the market.
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