Market Research Report
Human Growth Hormone Market by Application, Route of Administration, and Distribution Channel : Global Opportunity Analysis and Industry Forecast, 2021-2030
|Human Growth Hormone Market by Application, Route of Administration, and Distribution Channel : Global Opportunity Analysis and Industry Forecast, 2021-2030|
Published: September 28, 2021
Allied Market Research
Content info: 212 Pages
Delivery time: 2-3 business days
The global human growth hormone market was valued at $3,864.00 million in 2020 and is expected to reach $9,211.63 million by 2030, registering a CAGR of 9.0% from 2021 to 2030. The human growth hormone also known as somatotropin is a peptide hormone secreted by the pituitary gland that regulates cell growth, cell regeneration & repair, reproduction, and metabolism contributing to the overall development of humans. The growth hormone levels in the human body should be optimum for normal growth and can be regulated by factors such as exercise, sleep, stress, and lower glucose levels. Human growth hormones also help in controlling body composition, muscle & bone growth, body fluids, sugar & fat metabolism, and recovery from injury. It also helps to boost muscle strength & performance. Moreover, lower or higher levels of growth hormone may affect the quality of life thereby, increasing the risks of diseases such as high cholesterol levels, growth hormone deficiency, or poor bone density. Lower levels of human growth hormone increase the risk of diseases and results in fat accumulation throughout the body, whereas higher levels of the same may cause gigantism in children and acromegaly, muscle-wasting disease, and short bowel syndrome in adults. The human growth hormone levels decrease with age. This natural slowdown in the production of growth hormones in human body has triggered the interest in using synthetic growth hormone therapies across the world.
There has been a considerate growth in the human growth hormone market in the recent years due to various factors like rise in adaptation of growth hormones for controlling the aging. Growth Hormone treatment is helping in improving the muscle strength body composition, physical function, and bone density. Growth hormones are also helpful in keeping a check over cardio vascular disorders and are used to decrease the levels of cholesterol in the body. Along with this, there has also been a rise in the disorders related to the growth hormones like Prader-Willi Syndrome, small for gestational age (SGA) and Turner Syndrome due to the wide adoption of sedentary lifestyles and increase consumption of alcohol. This surge is anticipated to propel the growth of the market in the near future. Moreover, rise in the disposable income in the developing economies is expected to create lucrative opportunities in the near future.
Rise in awareness regarding the effectiveness of growth hormones, demand for cost efficient growth hormone therapies; increase in prevalence of serious chronic diseases such as chronic kidney disease and growth retardation, and pituitary dysfunctions; and surge in compliance for growth hormone formulations are the major factors that drive the growth of the global human growth hormone market.
However, the unfavorable effects such as muscle pain, joint pain, and fluid retention associated with the use of synthetic growth hormones and high cost involved in the treatments using these growth hormones hinder the growth of the market. Moreover, stringent government approvals are expected to restrain the growth and development of the market in the coming years. On the contrary, rise in disposable income and surge in healthcare expenditure in developing economies is anticipated to create lucrative opportunities for the manufactures of growth hormones in the future.
The human growth hormone market is segmented on the basis of application, route of administration, distribution channel, and region. By application, it is categorized into growth hormone deficiency, Prader-Willi syndrome, Turner syndrome, small for gestational age, and others. By route of administration, it is classified into intravenous, intramuscular, subcutaneous, and oral. By distribution channel, it is divided into hospital pharmacy, retail pharmacy, clinic, and online pharmacy. Region wise, it is analyzed across North America, Asia-Pacific, Europe, and LAMEA.
The prominent players in the market have adopted various strategies for increasing their market share. These include expansion of their geographical presence through collaborations and partnerships and increase in investment in developing long-acting and effective products with lower adverse effects. Major players operating in the hGH market include Novo Nordisk, Merck & Co., Inc., Eli Lilly and Company, Pfizer Inc., Teva Pharmaceutical Industries Ltd, Novartis AG, AnkeBio Co. Ltd, F. Hoffmann-La Roche, Ipsen, and Ferring BV.