Yahoo Finance Growth Hormone Market Size Worth USD 5800 Million by 2030 at 7.60% CAGR – Report by Market Research Future (MRFR)
Growth hormone Market Trends and Insights By Brand (Norditropin, Genotropin, Humatrope, Saizen, Omnitrope, Others), By Application (Growth Hormone Deficiency, Idiopathic, Short Stature, Small for Gestational Age, Turner Syndrome, Prader-Willi Syndrome, Others), By Route of Administration (Subcutaneous, Intramuscular, Intravenous, Oral), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Clinics, E-Commerce Websites), Competitive Market Growth, Size, Share and Forecast to 2030
New York, USA, Nov. 29, 2022 (GLOBE NEWSWIRE) -- Growth Hormone Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Growth Hormone Market Information By Brand, Application, Route of Administration, Distribution Channel, And Region - Forecast till 2030", the market is expected to reach USD 5,800 Million by 2030 at 7.60% CAGR during the forecast period 2022-2030.
Market Synopsis
The pituitary gland secretes the peptide hormone known as human growth hormone, or somatotropin, which controls cell growth, renewal and repair, reproduction, and metabolism, all of which are necessary for full human development. Human growth hormone levels should be appropriate for optimal growth and can be influenced by stress, exercise, sleep, and low blood sugar levels. Human growth hormones also aid in regulating body fluids, sugar and fat metabolism, muscle and bone growth, and injury rehabilitation. Additionally, it improves muscle performance and strength. Insufficient hGH synthesis by the pituitary gland results in human growth hormone (GH) insufficiency.
Recombinant human growth hormone is injected subcutaneously to address this human deficit. Humans may also experience growth hormone insufficiency due to several genetic illnesses, such as Turner syndrome and Prader-Willi syndrome, which can delay puberty and result in shorter-than-average height.
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Report Scope:
Report Attribute | Details |
Market Size in 2030 | USD 5800 Million |
CAGR | 7.60% |
Base Year | 2021 |
Forecast Period | 2022-2030 |
Historical Data | 2020 |
Forecast Units | Value (USD Million) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | By Brand, Application, Route of Administration and Distribution Channel |
Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
Key Market Drivers | Rising in GH Deficiency Cases to be a Key Growth Booster |
Surge in FDA Approvals to Offer Lucrative Opportunities |
Growth Hormone Market Competitive Landscape:
The noteworthy companies in the growth hormone market are:
Merck KGaA
Zhongshan Hygene Biopharm Co. Ltd
Lifetech Labs
Biopartners GmbH
Genetech Inc.
Pfizer Inc.
Novartis AG
GeneScience Pharmaceuticals Co. Ltd
Ipsen S.A.
Eli Lily and Company
Novo Nordisk A/S
Anhui Anke Biotechnology (Group) Co. Ltd
Growth Hormone Market Dynamics:
Market Drivers:
The general public's awareness of synthetic growth hormone therapy has gradually grown. The prevalence of diagnosis is improving, and industrial research into the reasons for growth disorders is expanding, leading to a market boom. Growth hormones are typically given powder form, the most common delivery technique. These hormones are available as a lyophilized powder. To create growth hormone injectable dosages, the lyophilized powder is then turned into a suspension with different concentrations. Additionally, the market is anticipated to be driven by campaigns launched by numerous public and commercial organizations to raise awareness of GH deficiencies and treatments for human growth hormones. Growth, reproduction, and regeneration are all supported by human growth hormones.
Growth of the market is enhanced by increased usage of growth hormone with growth hormone knowledge, which aids in treating problems caused by hormonal imbalance. Growth hormone deficiency illnesses are becoming more prevalent globally, motivating players to bring new advancements in growth hormone therapy. The rise in FDA clearances also gives industry participants a wealth of opportunities to create new medicines with higher efficacy and fewer negative effects. Additionally, many businesses fund research and development to create long-lasting growth hormones with fewer adverse effects. The rise in aging hormone use, increase in disorders associated with growth hormone insufficiency, efforts made by governments and numerous private groups to raise public awareness of growth hormone deficit, and high productivity are all contributing factors to the market's growth.
Market Restraints:
The cost of GH therapy, which discourages patients from seeking treatment, can be a problem for the market. To produce more affordable human growth hormone for sale and effective remedies that may guarantee consistent demand, businesses are strengthening their product pipelines and concentrating on rigorous research and development (R&D) efforts.
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COVID 19 Analysis
The COVID-19 pandemic severely disrupted the global supply chain, adversely impacting the delivery of growth hormone medications. Since growth hormone therapy is regarded as a necessary treatment for children with deficiencies, patients continued to adhere to their treatment well during the pandemic, which had little impact on the market. As a result, the market's overall consumption of growth hormones is still moderate. Additionally, Prader-Willi syndrome patients must exercise sufficient caution to reduce their risk of contracting COVID-19. Additionally, patients with Prader-Willi syndrome may not exhibit typical symptoms such as high temperature and might also have a higher pain threshold than usual, which may cause a delay in the identification of COVID-19.
Turner syndrome sufferers are more likely to have a major disease from the COVID-19 infection. The 191 amino acid single-chain polypeptide hormone known as growth hormone, or somatotropin, is made by the somatotropic cells of the anterior pituitary gland. The growth hormone's primary role is to promote regeneration, development, and growth. Each tissue and organ grows as a result and regulates metabolism.
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Growth Hormone Market Segmentation
By route of administration, the market includes intramuscular, subcutaneous, intravenous, and oral.
By application, the market includes small for gestational age, growth hormone deficiency, short stature, turner syndrome, Prader-Willi syndrome, and idiopathic.
By brand, the market includes Humatrope, Saizen, Omnitrope, Norditropin, and Genotropin.
By distribution channel, the market includes hospital pharmacies, clinics, e-commerce websites, and retail pharmacies.
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Growth Hormone Market Regional Insights
Due to excellent reimbursement conditions, an established healthcare infrastructure, considerable government initiatives, and rising healthcare awareness, North America is predicted to make up the greatest portion of the market. Over the forecast period, Asia-Pacific is anticipated to have a considerable CAGR. By obtaining clearance and launching innovative products, a large market share in Asia-Pacific nations like China and Japan is a goal for major firms. Due to the expanding prevalence of growth hormone deficits and the increasing demand for growth hormones to treat idiopathic short stature, Europe is a highly lucrative market. Along with the considerable R&D efforts that assist the recombinant human growth hormone market, the increasing availability of artificial growth hormones can be considered a prominent market trend.
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