New York, July 03, 2023 (GLOBE NEWSWIRE) -- The global Human Growth Hormone Market is expected to witness significant growth at a CAGR of 8.2% during the forecast period of 2023-2030. This growth is attributed to the rising incidences of growth hormone deficiency.
The human growth hormone market is expected to gain significant growth in the forecast period of 2023 to 2030. Consegic Business Intelligence analyzes that the market is expected to reach USD 9,267.74 million by 2030. The market, which was valued at USD 4,946.64 million in 2022, is predicted to grow at a compound annual growth rate of 8.2% during the period 2023-2030. Consegic Business Intelligence study also provides insights into the market's competitive landscape, market segmentation, regional outlook, and emerging technologies in the human growth hormone market.
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Human Growth Hormone (HGH), also known as somatotropin, is a naturally occurring hormone produced by the pituitary gland in the brain. Such a type of hormone plays a crucial role in the growth, development, and overall maintenance of tissues and organs throughout the body. HGH stimulates cell reproduction, regeneration, and growth in bones, muscles, and other body tissues.
The primary function of human growth hormone is to regulate growth during childhood and adolescence. It promotes the growth of long bones, increases height, and helps develop lean muscle mass. HGH also affects metabolism by stimulating the breakdown of fats and promoting the utilization of glucose for energy. Human Growth Hormone is involved in regulating metabolism, immune function, and tissue repair processes. Further, the hormone influences cognitive function, sleep patterns, and emotional well-being.
Global Human Growth Hormone Market: Report Attributes
| Report Attributes | Report Details |
| Study Timeline | 2017-2030 |
| Market Size in 2030 (USD Million) | 9,267.74 Million |
| CAGR (2023-2030) | 8.2% |
| By Route of Administration | Subcutaneous, Oral, Intramuscular, Intravenous, and Others |
| By Application | Growth Hormone Deficiency, Prader-Willi Syndrome, Idiopathic Short Stature, Turner Syndrome, and Others |
| By Distribution Channel | Hospitals, Retail Pharmacies, Online Pharmacies, and Others |
| Report Coverage | Company Ranking and Market Share, Growth Factors, Total Revenue Forecast, Regional Competitive Landscape, Business Strategies, and more. |
| By Region | North America, Asia-Pacific, Latin America, Europe, Middle East & Africa |
| Key Players | Novo Nordisk, Merck KGaA, Eli Lilly & Company, Pfizer Inc., Teva Pharmaceutical Industries Ltd., Novartis, AnkeBio Co., Ltd, Roche, Ipsen Biopharmaceuticals, Inc., and Genentech, Inc. |
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Global Human Growth Hormone Market Segmentation Details:
Based on the Route of Administration, in 2022, the subcutaneous segment accounted for the highest market share in the global Human Growth Hormone market. Subcutaneous injections are relatively simple and can be self-administered by patients or their caregivers after receiving proper training from healthcare professionals. This offers convenience and flexibility in the administration of HGH, as it can be done at home without the need for frequent visits to healthcare facilities. Further, subcutaneous administration of HGH allows for efficient absorption of the hormone into the bloodstream which is the key factor driving the segment growth.
Based on Application, in 2022, the Growth Hormone Deficiency segment accounted for the highest market share in the global Human Growth Hormone market. Growth hormone deficiency is a relatively common condition characterized by inadequate secretion of growth hormone from the pituitary gland. Growth Hormone Deficiency affects both children and adults and has a significant impact on growth, development, and overall well-being. As a result, there is a substantial demand for HGH therapy in individuals with Growth Hormone Deficiency which in turn is driving the market growth.
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Based on Distribution Channel, in 2022, the hospital segment accounted for the highest market share in the global Human Growth Hormone market. Human Growth Hormone therapy involves the administration of injections, which requires specialized training and expertise, and hospitals have the necessary infrastructure and medical staff to safely administer HGH injections and closely monitor patients for any potential side effects or complications. Hence, the aforementioned factor is boosting segment growth.
Based on Region, in 2022, North America accounted for the highest market share in the global Human Growth Hormone market owing to the presence of well-developed and advanced healthcare infrastructure in the region particularly in the U.S. The region has a robust network of hospitals, clinics, and specialized healthcare centers that provide comprehensive medical care, including the diagnosis and treatment of growth-related disorders. This infrastructure supports the availability and accessibility of HGH therapies, contributing to the dominance of the market.
Competitive Landscape
Novo Nordisk, Merck KGaA, and Eli Lilly & Company are major market players that comprise the latest market circumstances. These companies are continuously leveraging new technologies such as the development of efficient, and cost-effective human growth hormone therapies. Further, the human growth hormone market is expected to grow steadily due to the rising growth of the healthcare industry particularly in Asia Pacific, North America, and Europe regions which is a key factor expected to boost the market statistics in the coming years. The market is characterized by intense competition, with companies focusing on expanding their product offerings and increasing their market share through mergers, acquisitions, and partnerships.
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Recent Developments
- In February 2022, Pfizer Inc. and OPKO Health, Inc. introduced NGENLA (somatrogon), a next-generation long-acting recombinant Human Growth Hormone to treat children and adolescents 3 or above 3 years of age with growth disturbance.
Key Market Takeaways
- Based on the route of administration, the subcutaneous segment accounted for the highest market share of 33.87% in the human growth hormone market statistics in 2022.
- By application, the growth hormone deficiency segment accounted for the highest market share in the human growth hormone market statistics in 2022.
- Based on the application, the hospital segment accounted for the highest market share in the human growth hormone market statistics in 2022.
- Asia Pacific is expected to grow at the fastest CAGR of 8.7% during the forecast period due to the increasing cases of Growth Hormone Deficiency.
- In 2022, North America accounted for the highest market share at 38.15% and was valued at USD 1,887.14 million, and is expected to reach USD 3,547.69 million in 2030.
List of Major Global Human Growth Hormone Market:
- Novo Nordisk
- Merck KGaA
- Eli Lilly & Company
- Pfizer Inc.
- Teva Pharmaceutical Industries Ltd.
- Novartis
- AnkeBio Co., Ltd
- Roche
- Ipsen Biopharmaceuticals, Inc.
- Genentech, Inc.
Global Human Growth Hormone Market Segmentation:
- By Route of Administration
- Subcutaneous
- Oral
- Intramuscular
- Intravenous
- Others
- By Application
- Growth Hormone Deficiency
- Prader-Willi Syndrome
- Idiopathic Short Stature
- Turner Syndrome
- Others
- By Distribution Channel
- Hospitals
- Retail Pharmacies
- Online Pharmacies
- Others
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Frequently Asked Questions in the Human Growth Hormone Market Report
- What was the market size of the human growth hormone market in 2022?
- In 2022, the market size of human growth hormone was USD 4,946.64 million.
- What will be the potential market valuation for the human growth hormone market by 2030?
- In 2030, the market size of the human growth hormone market is expected to reach USD 9,267.74 million.
- What are the key restraints of the human growth hormone market?
- Side effects and other hazards associated with synthetic growth hormones and the presence of alternative therapy treatments are likely to hamper the market growth.
- What is the dominating segment in the human growth hormone market, by application?
- In 2022, the hospital segment accounted for the highest market share in the overall human growth hormone market.
- Based on current market trends and future predictions, which geographical region is contributing to the highest market share in the human growth hormone market?
- In 2022, North America accounted for the highest market share of 38.15% in the overall human growth hormone market.
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