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Human Growth Hormone Market Size, Revenue Analysis, Opportunities, Trends, Product Launch To 2027 – Digital Journal

Jul 25th, 2022

Market Research Future (MRFR) believes that thehuman growth hormone marketwill soar at a decent rate of 7.50% during the appraisal period (between 2018 and 2023).

Primary Boosters and Deterrents

The American Academy of Pediatrics reveals that human growth hormone deficiency is rare and between 3,000 and 10,000 kids in the United States are currently suffering from the condition in the United States. At present, hGH is majorly abused by adults as an anti-aging drug and a performance-elevating drug by athletes and bodybuilders. But the USFDA is working on regulating the use of HGH and does not grant approval for its use as an anti-aging or a performance-elevating drug.

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Extensive product pipeline combined with exhaustive research and development (R&D) activities to come up with novel advanced growth hormone therapies contribute significantly to the market growth. Moreover, the emerging popularity of online pharmacies, especially in developing countries like China, Japan and India should also fuel the market growth over the ensuing period.

On the competitive front, many of the established firms are focusing on adopting strategies including partnerships, acquisitions and mergers to foster their geographic presence and widening their customer base. Partnerships and collaborations along with the largescale investments for the development of long-acting products with reduced side effects are also major focus areas among the players, which could translate into rapid market growth in the following years.

Market Segmentation

The MRFR report extensively details the global market, with respect to brand, route of administration, application, and distribution channel.

Brand-wise, the major segments are omnitrope, genotropin, norditropin, sainzen, mumatrope, and others. Out of these, the lead has been taken by the norditropin segment, which will continue to remain lucrative throughout the review timeframe. The segment touched USD 1494.98 Mn in 2017 and is on track to exhibit a double-digit growth rate in the years ahead.

The applications of human growth hormones are idiopathic short stature, prader-willi syndrome, growth hormone deficiency, turner syndrome, small for gestational age, and others. The growth hormone deficiency segment commands the highest share in the worldwide market and is presumed to capture a growth rate of 7.07% during the appraisal period.

The global industry, in terms of the route of administration, caters to intramuscular, subcutaneous, oral and intravenous. The leading spot has been secured by the subcutaneous segment, having seized a share of over two-third of the global market in the year 2017. MRFR experts project the segment to retain its attractiveness throughout the given timeline.

The key distribution channels mentioned in the MRFR report are clinics, hospital pharmacies, e-commerce websites and retail pharmacies. In 2017, the hospital pharmacies segment owned a share of more than 40% in the global industry and can experience significant growth in the years ahead.

Regional Status

The MRFR study of the human growth hormone industry covers the Americas, Asia Pacific (APAC), MEA or Middle East & Africa and Europe.

The Americas took the lead in 2017, with the highest share of more than 49.18% in the global market and has continued to remain steady ever since. Mounting cases of growth hormone deficiency, significant healthcare spending, and substantial consumer awareness are primary growth boosters in the regional market. Players are focused on introducing more advanced therapies in view of the rising incidences of disorders like Turner syndrome, which works in favor of the market. Moreover, the surge in R&D activities based on recombinant human growth hormones and the rising access to advanced and novel drugs should further benefit the regional industry in the years to come. Eli Lilly and Company; Genentech Inc. and Pfizer, Inc. are some of the top US-based companies that offer an extensive range of human growth hormone therapies.

APAC, in view of the rapid penetration of global firms and the developments in the healthcare industry, is the fastest expanding market. The market size continues to grow at a rapid pace thanks to the escalation in healthcare expenditure along with the considerable investments on researches by the reputed vendors in the region. Surge in peoples disposable income paired with the constant innovations in healthcare will present attractive opportunities in the following years. Government-led initiatives along with the growing efforts by private firms to enhance the awareness level among people regarding GH deficiencies and the available treatment options can also enhance the market share in the region over the given period.

Major Firms

The market leaders profiled in the MRFR study include Novo Nordisk A/S, Anhui Anke Biotechnology Co. Ltd., Lifetech Labs, Pfizer Inc., Genetech Inc., Novartis AG, Zhongshan Hygene Biopharm Co. Ltd., Eli Lilly and Company, Merck KGaA, Ipsen S.A, GeneScience Pharmaceuticals Co. Ltd., Biopartners GmbH, to mention a few.

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About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), & Consulting Services. MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients.

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