Global Human Growth Hormone Market, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2029
“Global Human Growth Hormone Market” is an upcoming market research report by MarketResearch.biz. Important data and information on the global human growth hormone market, such as details of key players, recent developments, market trends, growth opportunities, restraints, drivers, revenue details, and competitive landscape, are included in the report. The global human growth hormone market research report is segmented on the basis of application, distribution channel, and regions/countries.
Human growth hormone (hGH) also known as somatotropin, is a peptide hormone responsible for cell reproduction, growth stimulation, and cell regeneration in humans. It is a very important hormone for human growth and development. The cause of growth hormone deficiency in humans is due to the lower production of hGH by the pituitary gland. In order to treat this deficiency in humans, recombinant human growth hormone is administered by subcutaneous injection. Genetic disorders such as Turner syndrome and Prader-Willi syndrome also lead to growth hormone deficiency in humans. This syndrome leads to having shorter than average height and delayed puberty.
Some of the major factors fueling market growth are the presence of a strong pipeline, investments by market players, robust product portfolios, extensive R&D activities, and increasing government initiatives. According to the American Academy of Pediatrics, growth hormone deficiency is a rare condition in humans and affects less than 1 in 3,000 to 1 in 10,000 children in the US. Human growth hormones are currently abused as performance-enhancing anabolic substances by athletes as well as bodybuilders and as an anti-aging treatment in older adults. However, the human growth hormone is a controlled substance and has not been approved for performance-enhancing and anti-aging applications. Initiatives taken by various private and government organizations to spread awareness regarding human growth hormone treatment and growth hormone deficiencies are projected to drive the growth of the global human growth hormone market over the coming years. International Children’s Growth Awareness Day is celebrated every year by the International Coalition of Organizations Supporting Endocrine Patients (ICOSEP), a US-based nonprofit charitable organization, in order to spread awareness regarding early diagnosis and treatment of growth hormone disorders especially in children. However, various side effects and the high cost of human growth hormone therapies are projected to restrain market growth over the next ten years. The possible side effects of this therapy are hip, knee, and other joint pains, different allergic reactions such as swelling, rashes, hives, and increasing blood sugar levels.
Global Human Growth Hormone Market Segment Analysis:
By Application: The growth hormone deficiency segment continues to account for the highest revenue share. This can be attributed to increasing awareness regarding the treatment of GH deficiency and early diagnosis in humans and the introduction of new drugs in the global market. Moreover, the increasing number of pipeline drugs is attributed to this segment’s growth.
By Distribution Channel: The hospital pharmacy segment is projected to continue to account for the majority revenue share over the years to come. This can be attributed to rising hospital visits due to increasing awareness regarding GH deficiency and its effective treatments. The online pharmacy segment is projected to index the fastest revenue growth over the foreseeable future due to the high penetration of online pharmacies in developed regions such as Europe and North America.
Global Human Growth Hormone Market Regional Analysis:
The human growth hormone market in North America is projected to contribute the largest revenue share over the forecast period. This is attributed to increasing awareness of people about the deficiency and its treatments and early diagnosis. In addition, favorable reimbursement scenario, significant government initiatives, established healthcare infrastructure, growing healthcare awareness, presence of key players in the region, and increasing access to novel drugs are attributed to the growth of the market in the region.
Global Human Growth Hormone Market Segmentation:
- Growth Hormone (GH) Deficiency
- Adult GH Deficiency
- Pediatric GH Deficiency
- Turner Syndrome
- Idiopathic Short Stature
- Prader-Willi Syndrome
- Small for Gestational Age
By Distribution Channel:
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
- Specialty Pharmacy
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Novo Nordisk A/S
- Pfizer Inc.
- Eli Lilly and Company
- Sandoz International GmbH (Novartis AG)
- Merck KGaA
- Genentech Inc. (Roche)
- Ferring Pharmaceuticals
- Teva Pharmaceutical Industries Ltd
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