Newark, New Castle, USA, June 18, 2023 (GLOBE NEWSWIRE) -- Growth Plus Reports estimated the size of the global market for human growth hormone in 2022 to be worth US$ 4.4 billion, and it is expected that it will increase at a revenue CAGR of 8.4% to reach US$ 9.1 billion by 2031.
The global market for human growth hormone was analyzed and is expected to rise significantly in terms of revenue share during the forecast period. Children's growth and development are significantly aided by human growth hormone (HGH). Additionally, it controls both children's and adults' metabolism, muscle and bone growth, and body composition.
Key Takeaways:
- The rise of growth hormone deficiency is driving the market revenue share.
- The growing demand for anti-aging treatments has led to a surge in market demand.
- The recombinant DNA technology has significantly improved the efficiency and scalability of HGH production.
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Human Growth Hormone Market Scope
| Report Attribute | Details |
| Market Size Value in 2022 | US$ 4.4 billion |
| Revenue Forecast in 2031 | US$ 9.1 billion |
| CAGR | 8.4% |
| Base Year for Estimation | 2022 |
| Forecast Period | 2023 to 2031 |
| Historical Year | 2021 |
| Segments Covered | Indication, Route of Administration, Distribution Channel, and Region |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Recent Development in the Human Growth Hormone Market:
- In February 2022, The European Commission granted marketing approval to Pfizer Inc. and OPKO Health Inc. for the once-weekly injection of next-generation long-acting recombinant human growth hormone NGENLATM (somatrogon), which is used to treat children and adolescents from the age of 3 who have growth disturbances caused by insufficient growth hormone secretion.
Competitive Landscape
A list of the prominent players operating in the global market for human growth hormones includes:
- Merck KGaA
- Novo Nordisk Inc.
- Pfizer, Inc
- AnkeBio Co. Ltd
- Eli Lilly and Company
Market Drivers and Restraints:
The global human growth hormone market revenue is driven by the Increasing prevalence of growth hormone deficiency, growing demand for anti-aging treatments, technological advancements, and availability of government funding and favorable policies for research and development.
However, due to high expenses and the availability of alternative treatment options, the human growth hormone market revenue growth is expected to be restrained.
Market Segmentation:
Segmentation By Indication
Based on the products, the growth hormone deficiency segment dominates the global human growth hormone market with the largest revenue share. This large revenue share is attributed to it as it is the primary and most prevalent indication for human growth hormone treatment, and there is a constant demand for growth hormone supply since many GHD patients require long-term human growth hormone therapy.
Segmentation By Route of Administration
Based on the route of administration, the parenteral segment dominates the global human growth hormone market with the largest revenue share. Growth hormones can be administered by the simple and practical intramuscular (IM) parenteral route, which is effective for administering human growth hormones and may improve patient compliance. This helps the segment’s revenue growth to rise rapidly.
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Segmentation By Distribution Channel
Based on distribution channels, the hospital pharmacies segment accounts for the highest revenue share in the global human growth hormone market as for people with serious or persistent medical conditions, such as growth hormone deficiency, they can offer long-term human growth hormone therapy.
Regional Growth Dynamics
Based on the region, North America, with the largest revenue share, dominates the global human growth hormone market. This large revenue share is due to the region having an advanced healthcare system with a high level of diagnosis and comprehension of these issues, which has an impact on the market's strong demand for products containing human growth hormones.
Report Coverage
Growth Plus Reports analyzed the global market for human growth hormones in-depth. We studied the fundamental market characteristics, significant investment sectors, regional growth analytics, revenue estimates, competing market players, and mergers and acquisitions.
Table of Content
- INTRODUCTION
- Market Ecosystem
- Timeline Under Consideration
- Historical Years – 2021
- Base Year – 2022
- Forecast Years – 2023 to 2031
- Currency Used in the Report
- RESEARCH METHODOLOGY
- Research Approach
- Data Collection Methodology
- Data Sources
- Secondary Sources
- Primary Sources
- Market Estimation Approach
- Bottom Up
- Top Down
- Market Forecasting Model
- Limitations and Assumptions
- PREMIUM INSIGHTS
- Current Market Trends (COVID-19 Perspective)
- Key Players & Competitive Positioning (2022)
- Regulatory Landscape
- Reimbursement Scenario
- MARKET DYNAMICS
- Drivers
- Restraints/Challenges
- Opportunities
- GLOBAL HUMAN GROWTH HORMONE MARKET - ANALYSIS & FORECAST, BY INDICATION
- Growth Hormone Deficiency
- Turner Syndrome
- Idiopathic Short Stature
- Prader-Willi Syndrome
- Others
- GLOBAL HUMAN GROWTH HORMONE MARKET - ANALYSIS & FORECAST, BY ROUTE OF ADMINISTRATION
- Parenteral
- Oral
- GLOBAL HUMAN GROWTH HORMONE MARKET - ANALYSIS & FORECAST, BY DISTRIBUTION CHANNEL
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
HUMAN GROWTH HORMONE MARKET TOC
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- Blanket coverage on competitive landscape
- Winning imperatives
- Exhaustive coverage on 'Strategic Developments' registered by leading players of the market.
CUSTOMIZATION OPTIONS:
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