Growth hormone deficiency Market: Current Analysis and Forecast (2022-2028)

The global growth hormone deficiency market is anticipated to grow with an elevated CAGR of around 7% over the forecast period (2022-2028). Human growth hormone, produced by the pituitary gland, spurs growth in children and adolescents. It also helps to regulate body composition, body fluids, muscle and bone growth, sugar and fat metabolism, and possibly heart function. The rising biotechnology industry and increasing demand for specific drugs are catalyzing the market growth of the growth hormone industry. Furthermore, the rising awareness about the severity of the disease and rising incidences of dwarfism is also a responsible factor for the growth of the growth hormone deficiency market. For instance, according to Medline, Achondroplasia is one of the common types of dwarfism. Achondroplasia is a genetic condition that affects about 1 in 15,000 to 1 in 40,000 people. It makes your arms and legs short in comparison to your head and trunk. You may also have a larger head and a weak muscle tone.

Novo Nordisk A/S, Pfizer, Inc, Eli Lilly and Company, Novartis AG, Merck KGaA, Roche, Ferring Pharmaceuticals, Teva Pharmaceutical Industries, Ltd, Ipsen, and Cipla Inc. are some of the prominent players operating in the growth hormone deficiency market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with new varieties of growth hormone deficiency.

Insights Presented in the Report:

"Amongst Product, powder segment holds the major share"

Based on the product, the market is segmented into powder and solvent. The powder segment accounted for a significant market share in 2020 and it is estimated that it will exhibit a higher CAGR during the forecast period. The growth of this segment is mainly due to the higher bioavailability of the lyophilized drugs by the body. Furthermore, the higher stability of the drugs at higher temperatures is also responsible for the growth of the segment in the growth hormone deficiency market.

Amongst Application, the growth hormone deficiency segment holds the major share"

Based on application, the market is divided into growth hormone deficiency, idiopathic short stature, turner syndrome, small for gestational age, Prader-Willi syndrome, and others. The growth hormone deficiency segment grabbed a significant market share in 2020 and is anticipated to grow at a rapid rate in the upcoming years owing to the rising cases of growth hormone deficiency and the frequent product launches for the diseases that are responsible for the segmental growth in the growth hormone deficiency market. For example, in August 2021, SKYTROFA got FDA approval for the treatment of growth hormone deficiency in children.

Amongst Distribution Channel, the online pharmacies segment grow with high CAGR"

Based on distribution channel, the market is divided into retail pharmacies, hospital pharmacies, and online pharmacies. The online pharmacies grabbed a significant market share in 2020 and are anticipated to grow at a rapid rate in the upcoming years. This is due to the rising prevalence of mobile applications and their uses along with an increasing number of startups. For instance, Netmeds was founded in 2015 and reached US$ 1.8 million by 2019. Furthermore, the heavy discounts offered by the online pharmacies attract customers resulting in an increase in the market size of the segment during the forecast period.

"North America represents one of the largest markets of growth hormone deficiency market"

For a better understanding of the market dynamics of the growth hormone deficiency market, a detailed analysis was conducted for different regions across the globe including North America (U.S, Canada, and the Rest of North America), Europe (Germany, France, Spain, United Kingdom, Italy, and Rest of Europe), Asia-Pacific (China, India, Australia, Japan, and Rest of APAC), Rest of World has been conducted. In 2020, North America has a significant share in the growth hormone deficiency industry. This can be mainly due to the presence of well-established market players and frequent product launches in the region along with affordable health insurance plans in the region enabling the growth of the growth hormone deficiency industry. For instance, the U.S. passed the Affordable care and Reconciliation Acts in which affordable health insurance plans are provided to the people.

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The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments

Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry

The study comprehensively covers the market across different segments

Deep dive regional level analysis of the industry

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