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Human Growth Hormone Market Is Boosting Up Economy With 8.2% CAGR, Owing To Rising Awareness For Diagnosis And Treatment of Growth Hormone Disorders Till 2027 | Grand View Research, Inc.

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Human Growth Hormone Market Is Boosting Up Economy With 8.2% CAGR, Owing To Rising Awareness For Diagnosis And Treatment of Growth Hormone Disorders Till 2027 | Grand View Research, Inc.

May 04
05:13 2022
Human Growth Hormone Market Is Boosting Up Economy With 8.2% CAGR, Owing To Rising Awareness For Diagnosis And Treatment of Growth Hormone Disorders Till 2027 | Grand View Research, Inc.
Grand View Research, Inc. – Market Research And Consulting
According to new report available with Grand View Research, the global human growth hormone (hGH) Industry is expected to be driven by the investments by market players, the presence of a strong pipeline, extensive R&D activities, robust product portfolio, and increasing government initiatives during the forecast period.

Human Growth Hormone Industry Overview

The global human growth hormone market size was valued at USD 4.6 billion in 2019 and expected to reach a value of USD 8.5 billion by 2027, registering a CAGR of 8.2% over the forecast period. Factors such as investments by market players, the presence of a strong pipeline, extensive R&D activities, robust product portfolio, and increasing government initiatives are expected to significantly drive the market.

Human growth hormone (HGH), also known as somatotropin, is a peptide hormone responsible for growth stimulation, cell reproduction, and cell regeneration in humans and is hence important for human development. Growth hormone (GH) deficiency in humans is caused when the pituitary gland does not synthesize enough concentration of hGH. This deficiency in humans is treated by administering recombinant human growth hormone by subcutaneous injection. Various genetic disorders, including Prader-Willi syndrome and Turner syndrome, may also cause growth hormone deficiency in humans, leading to delayed puberty and shorter-than-average height.

Gather more insights about the market drivers, restrains and growth of the Global Human Growth Hormone Market

According to data published by the American Academy of Pediatrics, growth hormone deficiency among humans is a rare condition and affects less than one in 3,000 to one in 10,000 children in U.S. Currently, hGH is widely abused as an anti-aging treatment in older adults and as a performance-enhancing anabolic drug by bodybuilders and athletes. However, HGH is a controlled substance as per the USFDA and has not been approved for anti-aging and performance-enhancing indications.

U.S. human growth hormone (hGH) market size

Robust product pipeline and extensive R&D activities for the development of novel growth hormone therapies are expected to be the major factors driving the market for human growth hormones. For instance, in September 2018, Novo Nordisk presented Phase II clinical trial data of its investigational GH therapy, Somapacitan, indicated for the treatment of pediatric growth hormone deficiency. In addition, in May 2019, Ascendis Pharma A/S published results from the Phase III clinical trial of its TransCon hGH, indicated for pediatric growth hormone deficiency. Similarly, various key players including Teva Pharmaceutical Industries, Ltd.; OPKO Health, Inc.; Eli Lilly and Company; Ferring Pharmaceuticals; Sanofi S.A.; and LG Life Sciences are involved in R&D activities for the development of novel human growth hormone therapies.

Furthermore, initiatives taken by various government and private organizations to spread awareness about GH deficiencies and human growth hormone treatment are expected to drive the market. Every year, the International Coalition of Organizations Supporting Endocrine Patients (ICOSEP), a U.S.-based nonprofit charitable organization, celebrates International Children’s Growth Awareness Day to spread awareness about the early diagnosis and treatment of growth hormone disorders among humans, especially children.

However, the high cost of hGH therapies and various adverse effects related to hGH may hinder market progress over the forecast period. For instance, according to UPMC Children’s Hospital of Pittsburgh, the possible side effects of GH hormone therapy include knee, hip, or other joint pain; allergic reactions, including rash, swelling, or hives; and an increase in blood sugar levels.

Human Growth Hormone Market Segmentation

Based on the Application Insights, the market is segmented into Growth Hormone (GH) Deficiency, Turner Syndrome, Idiopathic Short Stature, Prader-Willi Syndrome, Small for Gestational Age and Others.

  • GH deficiency segment held the largest market share and is expected to hold its dominance over the forecast period. This can be attributed to increasing awareness about early diagnosis and treatment of GH deficiency in humans and the introduction of novel drugs in the hGH market.  
  • Turner’s syndrome accounted for the second-largest market share and is anticipated to emerge as a lucrative segment over the forecast period.

Based on the Distribution Channel Insights, the market is segmented into Hospital Pharmacy, Retail Pharmacy, Online Pharmacy, Specialty Pharmacy.

  • The hospital pharmacy segment held a significant share in 2019. This high share is attributed to increasing hospital visits due to rising awareness about GH deficiency among humans and the treatment.
  • The online pharmacy segment is expected to register a significant CAGR over the forecast period owing to the high penetration of pharmacies in developed regions such as North America and Europe.

Based on the Regional Insights, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa

  • North America is estimated to account for the largest share owing to factors such as favorable reimbursement scenario, established healthcare infrastructure, significant government initiatives, and growing healthcare awareness.
  • Asia Pacific is projected to register a significant CAGR over the forecast period. Key players focus on gaining a major market share in potential countries of the Asia Pacific such as Japan and China by gaining approval and the launch of novel products. 

Browse through Grand View Research’s Pharmaceuticals Industry Research Reports.

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Market Share Insights

  • October 2018: Novo Nordisk and Strongbridge Biopharma signed an agreement to acquire the rights to MACRILEN in the U.S. and Canada. MACRILEN (macimorelin) is the first and only oral drug approved by the FDA for use in adult growth hormone deficiency diagnosis.
  • November 2020: Aeterna joined together with Novo Nordisk, with the endeavor to boost the application scope of macimorelin that assists diagnose growth hormone deficiency, which is childhood-onset.

Key Companies Profile:

The major companies operating in the market are adopting mergers, partnerships, and acquisitions as key strategies to expand their geographic reach and provide access to their solutions.

Some prominent players in the global human growth hormone market include

  • 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
  • Ipsen

Order a free sample PDF of the Human Growth Hormone Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research is a full-time market research and consulting company registered in San Francisco, California. The company fully offers market reports, both customized and syndicates, based on intense data analysis. It also offers consulting services to business communities and academic institutions and helps them understand the global and business scenario to a significant extent. The company operates across multitude of domains such as Chemicals, Materials, Food and Beverages, Consumer Goods, Healthcare, and Information Technology to offer consulting services.

Web: https://www.grandviewresearch.com

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