Global Human Growth Hormones Market to Reach USD 10 Billion by 2030 | DelveInsight

New York, USA, Nov. 27, 2024 (GLOBE NEWSWIRE) -- Global Human Growth Hormones Market to Reach USD 10 Billion by 2030 | DelveInsight

The rising demand for human growth hormones is largely driven by the increasing prevalence of growth hormone deficiency in both adults and children, stemming from factors such as pituitary disorders, brain injuries, and parental or perinatal conditions. Additionally, the human growth hormones market is expected to expand due to a high volume of product approvals and the growing global adoption of recombinant human growth hormones. These factors are the key drivers fueling the positive growth of the human growth hormone market during the forecast period of 2024 to 2030.

DelveInsight’s Human Growth Hormones Market Insights report provides the current and forecast market analysis, individual leading human growth hormones companies’ market shares, challenges, human growth hormones market drivers, barriers, trends, and key market human growth hormones companies in the market.

Key Takeaways from the Human Growth Hormones Market Report

• As per DelveInsight estimates, North America is anticipated to dominate the global human growth hormones market during the forecast period. 
• In the product segment of the human growth hormones market, the growth hormone deficiency application had a significant revenue share in the human growth hormones market in 2023. 
• Notable human growth hormones companies such as Novo Nordisk A/S, Pfizer Inc., Eli Lilly and Company, Teva Pharmaceutical Industries Ltd., Changchun GeneScience Pharmaceutical Co., Ltd., FERRING PHARMACEUTICALS, AnkeBio Co. Ltd, EMD Serono Inc., F.Hoffmann-La Roche Ltd, Ferring BV, Sandoz International GmbH, LG Life Sciences, Aeterna Zentaris, Sinobioway Hygene Biomedicine Co. Ltd, GeneScience Pharmaceuticals Co. Ltd, Strongbridge Biopharma, Ipsen SA, AnkeBio Co., Ltd, and several others, are currently operating in the human growth hormones market.
• In September 2024, Daewoong Pharmaceutical announced that it had obtained IND (investigational new drug) approval to conduct a Phase I clinical trial for its dissolvable microneedle patch designed to deliver human growth hormone.

To read more about the latest highlights related to the human growth hormones market, get a snapshot of the key highlights entailed in the Global Human Growth Hormones Market Report

Human Growth Hormones Overview

Human growth hormone (HGH) is a peptide hormone produced by the pituitary gland that plays a critical role in growth, cell regeneration, and overall metabolic regulation. It stimulates growth in children and adolescents by promoting the development of bone, muscle, and cartilage. In addition, HGH helps regulate body composition, body fluids, muscle and bone growth, sugar and fat metabolism, and possibly heart function. The hormone's secretion is most active during childhood and adolescence and tends to decline with age. This decline has sparked interest in HGH therapy, particularly in cases of growth hormone deficiency or age-related decline.

HGH therapy is used to treat children with growth delays and adults with deficiencies caused by conditions like pituitary tumors. It is also approved for conditions such as Turner syndrome and chronic kidney disease. However, the off-label use of HGH for anti-aging, athletic performance enhancement, and body composition improvement is controversial and often unsupported by scientific evidence. Excessive or unregulated use can lead to side effects like joint pain, swelling, insulin resistance, and in some cases, increased risk of certain cancers. While HGH holds immense therapeutic promise, its use must be carefully regulated to balance benefits against potential risks.

Human Growth Hormones Market Insights 

North America dominated the global human growth hormone market in 2023, primarily due to a significant patient population with pituitary gland disorders. The pituitary gland plays a critical role in producing growth hormones that regulate various physiological functions. The market growth in this region is further driven by the rising prevalence of pituitary tumors in the United States, alongside an increase in product launches and ongoing clinical trials. 

Additionally, recent strategic initiatives and regulatory approvals are bolstering market expansion. For example, in June 2023, Pfizer Inc. and OPKO Health Inc. received FDA approval for NGENLA (somatropin-gala), a weekly human growth hormone analog designed for children aged three and older with growth failure caused by insufficient natural growth hormone secretion. Such approvals are significantly contributing to the growth of the human growth hormone market in the United States.

To know more about why North America is leading the market growth in the human growth hormones market, get a snapshot of the Human Growth Hormones Market Outlook 

Human Growth Hormones Market Dynamics

The global human growth hormone market is experiencing significant growth, driven by a combination of increasing awareness about growth hormone deficiencies, advancements in biotechnology, and the rising demand for targeted therapies. The market dynamics are shaped by key factors such as evolving regulatory frameworks, innovations in delivery mechanisms, and the growing adoption of biosimilars.

One of the primary drivers of the HGH market is the prevalence of growth disorders and other endocrine-related conditions. Rising incidences of pituitary gland disorders, along with early detection of growth-related anomalies in children, are fueling the demand for HGH therapies. Additionally, the increasing use of recombinant DNA technology has enabled the development of safer and more effective synthetic growth hormones, further expanding the market. The growing geriatric population is another contributing factor, as HGH is being explored for its potential anti-aging benefits, despite some controversies regarding its off-label use.

Another important dynamic shaping the HGH market is the emergence of biosimilars. As patents for key branded products expire, biosimilars are gaining traction due to their cost-effectiveness and wider accessibility. This trend has intensified competition among manufacturers, leading to increased investment in research and development to improve product differentiation and delivery methods. For instance, innovations like needle-free injectors and sustained-release formulations aim to enhance patient compliance and convenience, which are critical in chronic therapies like HGH.

However, the HGH market also faces challenges, including stringent regulatory requirements and high treatment costs. Regulatory bodies such as the FDA and EMA impose rigorous clinical trials and approval processes to ensure the safety and efficacy of HGH products, which can delay market entry for new therapies. Additionally, the high cost of treatment limits access for patients in low- and middle-income countries, potentially hindering market expansion. Moreover, concerns over the misuse of HGH in sports and bodybuilding have led to stricter controls, impacting its off-label use.

Get a sneak peek at the human growth hormones market dynamics @ Human Growth Hormones Market Dynamics Analysis

Human Growth Hormones Market Assessment

• Human Growth Hormones Market Segmentation
  • Human Growth Hormones Market Segmentation By Application: Growth Hormone Deficiency, Idiopathic Short Stature, Turner Syndrome, Small For Gestational Age, Prader-Willi Syndrome, and Others
  • Human Growth Hormones Market Segmentation By Patient Type: Pediatric and Adults
  • Human Growth Hormones Market Segmentation By Dosage: Injections, Capsules, and Powder
  • Human Growth Hormones Market Segmentation By Route of Administration: Subcutaneous, Oral, Intravenous, and Others
  • Human Growth Hormones Market Segmentation By Distribution Channel: Hospital Pharmacy, Hypermarkets/Supermarkets, and E-Commerce
  • Human Growth Hormones Market Segmentation By Geography: North America, Europe, Asia-Pacific, and Rest of World
• Porter’s Five Forces Analysis, Product Profiles, Case Studies, KOL’s Views, Analyst’s View

Which MedTech key players in the human growth hormones market are set to emerge as the trendsetter explore @ Human Growth Hormones Companies 

Table of Contents 

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