Growth Hormone Market Size And Forecast

Growth Hormone Market size was valued at USD 3.68 Billion in 2020 and is projected to reach USD 6.22 Billion by 2028, growing at a CAGR of 6.70% from 2021 to 2028.

The demand for the Growth Hormone market is growth at a rapid pace, mainly due to increasing cases of pituitary dysfunction leading to deficiency of the growth hormone. The Global Growth Hormone Market report provides a holistic evaluation of the market. The report offers comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

What Is Growth Hormone?

Growth hormone (GH) or somatotropin is a peptide hormone secreted by the pituitary gland. It is a protein hormone consisting of 190 amino acids produced and secreted by cells called somatotrophs from the anterior lobe of the pituitary gland. Growth hormone is used to stimulate all tissues of the human body and thus is extremely important in maintaining normal body growth especially in the earlier years of life. It operates through stimulating the protein synthesis and promoting fat breakdown to provide the energy necessary for tissue growth. Thus, deficiency in development or secretion of the GH may lead to short stature and dwarfism. Therefore, injection of GH is used in treating the GH deficiency.  GH deficiency often can affect the individuals even in adulthood, whereas some cases affected in childhood have normal GH secretion in adulthood. In adults, the GH deficiency may lead to extreme fatigue, decreased energy, depressed mood, decreased muscle strength, decreased muscle mass, thin and dry skin, increased adipose tissue, and decreased bone density.

Global Growth Hormone Market Overview

In the report, the market outlook section mainly encompasses the fundamental dynamics of the market which include drivers, restraints, opportunities, and challenges faced by the industry. Drivers and restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market.

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The demand for the Growth Hormone market is growth at a rapid pace, mainly due to increasing cases of pituitary dysfunction leading to deficiency of the growth hormone. According to the statistics revealed by Oregon Health & Science University growth hormone deficiency is rare however, it affects around 50,000 U.S. adults. Higher or lower level of human growth hormone impacts the growth of the individuals, wherein the low level shows risk of higher amount fat accumulation throughout the body and increased level lead to carious medical conditions such as gigantism, acromegaly, muscle-wasting disease, and short bowel syndrome. Increasing awareness regarding the treatment of the growth hormone deficiency is the prominent factor, driving the growth of growth hormone market. Large pharmaceutical companies are continuously conducting research and development activities in combination with trials for development of novel therapies, is projected to push the growth of the growth hormone market. Companies are introducing new therapies and treatment to maintain the GH level of the affected individuals. For instance, in August 2020, U.S. Food and Drug Administration (US FDA) approved Novo Nordisk, Inc.’s Sogroya (somapacitan), as a first human growth hormone (hGH) therapy that adult patients only take once a week by injection under the skin. In addition to this, favourable support by the government of various countries to promote awareness regarding the GH is pushing the market growth.

Verified Market Research narrows down the available data using primary sources to validate the data and use it in compiling a full-fledged market research study. The report contains a quantitative and qualitative estimation of market elements which interests the client. The “Global Growth Hormone (GH) Market” is mainly bifurcated into sub-segments which can provide classified data regarding the latest trends in the market.

Global Growth Hormone Market: Segmentation Analysis

The Global Growth Hormone Market is segmented based on Application, Distribution Channel, Route of Administration, and Geography.

Growth Hormone Market by Application

• Growth Hormone Deficiency
• Turner Syndrome
• Idiopathic Short Stature
• Prader-Willi Syndrome
• Others

On the basis of  Application, Growth Hormone Market is segmented into Growth Hormone Deficiency, Turner Syndrome, Idiopathic Short Stature, Prader-Willi Syndrome, and Others.  By Application, Growth Hormone deficiency segment emerged as the leading segment as it accounts for the largest share of the Growth Hormone market. Growth of this segment is mainly attributed to growing prevalence of growth hormone deficiency resulting into higher demand. According to various studies by the London Endocrine Center, UK, is one in approximately 3 per 10,000 equating to 15,000 adults. Higher awareness regarding the growth hormone deficiency by the regulatory authorities, governments and non-profit organization has resulted into higher demand for the growth hormone injection to cure the medical condition.

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Growth Hormone Market by Distribution Channel

• Hospital Pharmacy
• Retail Pharmacy
• Online Pharmacy
• Clinics

On the basis of  Distribution Channel, Growth Hormone Market is segmented into Hospital Pharmacy, Retail Pharmacy, Online Pharmacy, And Clinics. In 2020, the hospital pharmacy segment leads the distribution channel segment due to hike in awareness regarding the GH deficiency among the population visiting the hospitals. These hospital pharmacists dispense medicines, special feeding solutions and diagnostic agents to the customers directly. This results in higher interaction of the prescribers with the patient through hospital pharmacy, which in turn promotes the sales of the growth hormone as it leads to higher patient satisfaction.

Growth Hormone Market by Route of Administration

• Intravenous
• Subcutaneous
• Intramuscular
• Oral

On the basis of  Route of Administration, Growth Hormone Market is segmented into Intravenous, Subcutaneous, Intramuscular, And Oral. The subcutaneous segment accounted for the largest share of the Growth Hormone market as it has higher bioavailability when compared to other routes of administration. The subcutaneous injection of GH penetrates directly into the fatty tissue just beneath the surface of the skin with no potential side-effects. This results into effective way to treat growth hormone deficiency.

Growth Hormone Market by Geography

• North America
• Europe
• Asia Pacific
• Rest of the World

The largest share is estimated to be in the Growth Hormone market in North America. The market growth is mainly due to the growing prevalence of pituitary dysfunction incidence. Well-developed healthcare infrastructure, higher spending of the population of healthcare followed by supportive governmental initiatives are few of the prominent factors favouring the market growth in North America. Also, presence of the prominent players in the North America region has further strengthen the region’s position in the global market. The Asia-Pacific is expected to show promising growth in the years to follow mainly due to large patient pool and expanding presence of the large companies in the Asian countries.

Key Players

The “Global Growth Hormone Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Anhui Anke Biotechnology (Group) Co., Ltd, Biopartners GmbH, Eli Lilly and Company, GeneScience Pharmaceuticals Co., Ltd, Ipsen S.A., Merck KgaA, Novartis AG, Novo Nordisk A/S, Pfizer Inc., and Roche Holdings, Inc. are a few major companies operating in the Growth Hormone market.

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