Global HumanGrowth Hormone (HGH) Market is anticipated to witness an exponential growth in the forecast period. Human growth hormone is mainly responsible for regeneration and growth among humans and stimulates cell reproduction. Factors such as presence of a large pool of patients, technological advancements, demand for better-quality and cost-effective human growth hormones, increasing compliance for human growth hormone drugs and massive unexplored markets in the developing economies, such as China and India.
Furthermore,
advanced research and development services, and new drug developments by the
key companies, increasing occurrences of human growth hormone deficiency
diseases, and growing aged population are likely to propel the human growth
hormone industry in the forthcoming period. On the other hand, the high cost of
treatment, strict governing approvals, and adverse effects associated with the
usage of synthetic human growth hormones are anticipated to hinder human growth
hormone drugs market growth in future.
However,
increasing acceptance of growth hormone drugs, as anti-aging drug and the
rising popularity of human growth hormone drugs is likely to create lucrative
opportunities for the market. Human growth hormone (HGH) industry is
anticipated to expand at a CAGR of 7.5% in the upcoming period as the scope,
product types, and its applications are increasing across the globe.
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Human
growth hormone market could be explored by route administration, application,
distribution channel, and geography. Based on the route administration, the HGH
industry could span Intramuscular, Intravenous, Oral, and Subcutaneous. The
“Subcutaneous” segment accounted for a prominent share in the market. It is
likely to witness substantial growth in the years to come. The key factors that
could be attributed to the growth of the market include the preference for the
subcutaneous technique is rising as it leads to the important growth in
development rates and low occurrence of antibody progress. Furthermore, the
subcutaneous route is extremely chosen for chronic growth hormone therapy.
The
key applications that could be explored in the HGH market include Turner
Syndrome, Growth Hormone Deficiency, Prader-Willi Syndrome, and Idiopathic
Short Stature. The “Growth Hormone Deficiency” segment accounted for a
prominent share in the market. The key factor that could be attributed to the
growth of the market includes an increase in the growth hormone deficiency.
The
human growth hormone (HGH) market could be explored based on distribution
channel as Retail Pharmacy, Hospital Pharmacy, Online Pharmacy, and Clinics.
The “Hospital Pharmacy” segment accounted for a prominent share in the market.
The key factors that could be attributed to the growth of the market include a
lot of hospital pharmacies are allocating drugs and the high cost of human
growth hormone drugs.
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North
America is a leading region in the market. It is likely to maintain its
dominance in the forecast period owing to factors, such as affordability of
hormonal therapy, high healthcare spending, and commercialization of growth
hormone by Drugs Administration (FDA) and US Food since last few years, several
companies are investing in the R&D of the recombinant growth hormone,
growing disposable income, local presence of market companies, and
technological advancement. North America is followed by Asia-Pacific region
owing to investment by key players, increasing healthcare spending, large
patient pool and increasing consciousness about the therapy for short stature.
Key
players operating in the human growth hormone (HGH) industry include F.
Hoffmann-La Roche, EMD Serono Inc., Genentech Inc., AnkeBio Co. Ltd, Ferring
BV, Lilly USA, Ipsen, Novo Nordisk A/S, LLC, Teva Pharmaceutical Industries
Ltd, and Pfizer Inc. The leading companies are taking up partnerships, mergers
and acquisitions, and joint ventures in order to boost the inorganic growth of
the industry.
Market
Segment:
Application
Outlook (Revenue, USD Million, 2014 - 2025)
• Growth Hormone Deficiency
• Turner Syndrome
• Idiopathic Short Stature
• Prader-Willi Syndrome
• Small for Gestational Age
• Others
Regional
Outlook (Revenue, USD Million, 2014 - 2025)
• North America
• U.S.
• Canada
• Europe
• U.K.
• Germany
• Asia Pacific
• Japan
• China
• Latin America
• Brazil
• Mexico
• Middle East & Africa
• South Africa
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