Desmopressin Market Report Overview
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The global desmopressin market size was USD 1108.5 million in 2022. As per our research, the market is expected to reach USD 1462.7 million in 2028, exhibiting a CAGR of 4.7% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with the desmopressin market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.
Desmopressin is a synthetic man-made hormone that is used to treat central diabetes insipidus, bed wetting in children, and excessive thirst and urination. Desmopressin is available in the form of oral drugs, injections, and nasal sprays. Desmopressin works by limiting the amount of water that is eliminated in the urine; that is, it is an antidiuretic. It works at the level of the renal collecting duct by binding to V2 receptors, which signal the translocation of aquaporin channels via cytosolic vesicles to the apical membrane of the collecting duct.
The growing number of diabetic patients around the world is a major factor in driving the demand for the drug. Furthermore, various forms of desmopressin products offered by pharmaceutical companies as well as recommendations of the drug by healthcare professionals are ascribed to propel the growth of the global desmopressin market.
COVID-19 Impact: Non-Critical Treatment Reduced the Demand for the Drug
During the COVID-19 pandemic, several other pharmaceutical products including the supply chain for desmopressin experienced disruptions due to lockdowns, transportation restrictions, and increased demand for certain medical supplies that affected the availability of the drug. Apart from this, some patients delayed seeking medical care for non-emergency conditions, including those that require desmopressin, due to concerns about virus exposure or healthcare system strain. This resulted in delays in diagnosis and treatment that impacted the demand for desmopressin. However, post-pandemic, the market has started gaining demand for the drug owing to rising cases of diabetic patients which is projected to continue to grow over this projection timeframe.
Latest Trends
"Biopharmaceuticals and Biologics Drives Market Advancement"
The market is projected to expand exponentially during this forecast owing to several key driving factors. Besides, the market is witnessing emerging trends and development which are also anticipated to expand the market dynamic. For instance, the development and approval of biopharmaceuticals and biologics, including monoclonal antibodies and gene therapies continues to be a major trend. These innovative treatments offered new approaches to various diseases. Apart from this, notable pharmaceutical companies are heavily investing in desmopressin acetate which plays a crucial role in boosting the market’s growth. Illustratively, in September 2017, Amring Pharmaceuticals made a strategic announcement of its intent to invest in desmopressin acetate as part of its dedication to delivering top-tier generic medications, outstanding customer service, and affordability to its customers. Consequently, these factors and trends are predicted to contribute to inflating the opportunities for the market.
Desmopressin Market Segmentation
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- By Type Analysis
According to type, the market can be bifurcated into Oral, Intravenous Injection, and Nasal Spray.
- By Application Analysis
Based on application, the market can be divided into Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies.
Driving Factors
"Prevalence of Diabetes Cases Raises the Demand for the Drug"
One of the major driving factors of the desmopressin market growth is the prevalence of diabetes insipidus incidence along with other medical conditions that require desmopressin treatment, such as bedwetting, and bleeding disorders. The rising cases of such medical problems are expected to impact the market significantly as it is used for treating diabetes-related complications such as hyperglycemia and polyuria. Thus, an increase in the number of individuals diagnosed with these conditions can drive the demand for desmopressin in the market.
"Awareness and Diagnosis Increase the Growth of the Market"
Additionally, increased awareness among healthcare professionals and the general public about conditions treatable with desmopressin can lead to higher diagnosis rates. This increased awareness is likely to enhance more accurate diagnoses which allow patients to seek appropriate treatment, reduce stigma associated with certain conditions, and potentially expand the drug's use into new medical indications. Also, pharmaceutical marketing efforts and updated clinical guidelines may also play a role in driving the demand for desmopressin which is expected to contribute to the higher growth of this market throughout this projection period.
Restraining Factors
"Drug Side Effects Can Obstruct Market Expansion"
However, the side effects of desmopressin can be a restraining factor in its adoption and use. The severity and nature of side effects can affect patient compliance and healthcare provider reluctance to prescribe the medication which may impact the growth of this market.
Desmopressin Market Regional Insights
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"North America Leads the Market with Increasing Awareness about various Desmopressin Products"
According to a market review, in 2017, North America led the market with the higher demand for the drug in the region. The main factor behind the region’s dominance can be the presence of the key manufacturers, and rising awareness about various products of desmopressin, such as nasal spray and oral tablets in the region. As well as well-established healthcare infrastructure and continuous research and development programs in the pharmaceutical industry can also attributed to its leading position. Moreover, the majority of the desmopressin market shares are held by the region globally.
Key Industry Players
"Leading Pharmaceutical Companies Invest Heavily in R&D to Discover and Develop Innovative Drugs"
As per the market report with regard to key players, notable companies in the pharmaceutical industry achieve market dominance through a combination of factors: robust research and development efforts, diversified product portfolios, patent protection, and global presence. They also invest in effective marketing, strategic partnerships, economies of scale, clinical trials, and strong supply chain management. Furthermore, they adapt to market trends, invest in talent, maintain quality standards, and prioritize regulatory compliance to build brand reputation and consumer trust. The top three companies dominate the market with the largest share of the market.
List of Market Players Profiled
- Ferring Pharmaceuticals (Switzerland)
- Cadila Healthcare (India)
- Shanghai Soho-Yiming Pharmaceuticals (China)
Report Coverage
This report defines the desmopressin market. It emphasizes the market value, expected CAGR, and USD value over the forecast period, before and after the impact of the COVID-19 pandemic restrictions on the international market, and how the industry is going to turn the corner is also stated in the report. The report provides significant market data with its product type and product applications, end-use details, and an idea of the market growth in the future. This report also provides an understanding of the growing market trends and developments and their effects on the market growth, driving factors along with restraining factors that impact the market dynamics. Along with this, the leading region, key players of the market, and their tactics to beat the market competition, sustainable policies, their collaboration, mergers, companies’ profile, previous years’ revenue, profit & loss, and market position based on their share value in the market, are also explained in the report.
| REPORT COVERAGE | DETAILS |
|---|---|
Market Size Value In |
US$ 1108.5 Million in 2022 |
Market Size Value By |
US$ 1462.7 Million by 2028 |
Growth Rate |
CAGR of 4.7% from 2022 to 2028 |
Forecast Period |
2022-2028 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
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What value is the global desmopressin market expected to touch by 2028?
The global desmopressin market is expected to touch USD 1462.7 million by 2028.
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What CAGR is the desmopressin market expected to exhibit during 2022-2028?
The desmopressin market is expected to exhibit a CAGR of 4.7% over 2022-2028.
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What are the key driving factors of the Desmopressin market?
The prevalence of diabetes cases and the rising awareness and diagnosis are the key driving factors of the Desmopressin market.
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What are the key players in the Desmopressin market?
The key players in the market include Ferring Pharmaceuticals, Cadila Healthcare, and Shanghai Soho-Yiming Pharmaceuticals are top players in the Desmopressin market.
