Pune, India, Nov. 02, 2021 (GLOBE NEWSWIRE) --
The global growth hormone market size is expected to grow substantially during the forecast period, due to rising efforts made to create awareness of growth diseases among children. Awareness programs and government initiatives are being launched to help citizens look out for early signs of these ailments and take timely precautions.
Reputed companies such as Eli Lily and Company, Pfizer Inc., Merck KGaA, Novo Nordisk A/S, Novartis AG, LG Chem Ltd., and Ferring B.V., among many others are providing high-quality growth hormone therapies and medications to treat a variety of related disorders. Here is a look at the region-wise trends affecting market forecast:
Asia Pacific (regional valuation to surpass $1.1 billion):
Growth hormone powders gain traction:
Growth hormone powders held a share of $419 million in the APAC market in 2020. The demand for growth hormones in powder form is growing at a substantial rate due to the various benefits they offer. SAIZEN, a lyophilized growth hormone powder produced by Merck Serono is one of the most widely preferred products in the region.
Enhancer, such as hGH booster, is a powdered form of growth hormone and is also known as GH secretagogues. It consists of amino acids that enhance the production of GH in the body. Since the enhancers are claimed to be free from any side-effect, their adoption may grow across the region.
Access sample pages of the report, “Asia Pacific Growth Hormone Market Forecasts 2027” in detail along with the table of contents (ToC) @
https://www.graphicalresearch.com/request/1982/sample
Growth hormones find high application in Turner Syndrome treatment:
The Asia Pacific growth hormone market size from applications in treating Turner Syndrome will record a CAGR of 8.7% through 2027. Turner Syndrome is a genetic disorder that affects females and showcases abnormalities in the chromosomes. This condition can lead to the absence of one or all sex chromosomes and can cause other abnormalities.
According to the Australian Pediatric Endocrine Group, 25-50 out of 100,000 girls are diagnosed with Turner Syndrome at birth every year. Growth hormone medication can play a vital role in reversing some of the severe symptoms of this condition. These drugs can help the girl child diagnosed with Turner Syndrome reach a normal adult’s height if the treatment is started early.
Hospital pharmacies remain the main distribution channels:
Hospital pharmacies held a share of $381.5 million in the regional market in 2020. The need among patients to have access to advanced medical treatments to facilitate early detection of growth hormone deficiencies is increasing at a notable pace. Since hospital pharmacies are located within the premises, they are easily accessible. These pharmacies are also able to supply medicines during emergency situations.
Europe (regional valuation to go past $1.6 billion):
Use of growth hormone drugs to treat Prader-Willi Syndrome:
Prader-Willi Syndrome (PWS) captured 5.5% share of the European growth hormone market in 2020. The disorder is a rare neurodevelopmental condition and is caused due to the defects in chromosome 15. Children diagnosed with PWS can be treated with the help of growth hormone medicines. These drugs can help the child reach a normal height and can play an important role in creating a healthy body composition. They have a positive effect on the child’s motor development.
Access sample pages of the report, “Europe Growth Hormone Market Forecasts 2027” in detail along with the table of contents (ToC) @
https://www.graphicalresearch.com/request/1983/sample
Online med stores distribute growth hormone medication:
Online med stores were responsible for 11.5% share of the Europe market in 2020. The concept of online medical stores is gaining momentum due to the substantial rise in internet penetration. Several pharma companies are switching to online platforms to increase their product portfolios and expand customer base.
Customers find it highly convenient to order from online med stores as it not only gives them a variety of brands to look at, but they can get the right drugs at the right time. Since customers are gaining more knowledge about the functions of these stores, they may continue to gain traction in the future.
Germany growth hormone market share grows significantly:
Germany market size may register 6.7% CAGR through 2027 as growth hormone therapies are being adopted by many medical centers to treat GH deficiencies. Several new products are being launched to ease the customer’s burden of finding the right drug for their treatment. For example, in August 2020, the FDA approved Sogroya, a TransCon hGH manufactured by Novo Nordisk. This drug will be used in the region to treat GHD in adults.
North America (regional valuation to surpass $2.2 billion):
Growth hormone solvents gain momentum:
Growth hormone solvents held a share of $448 million in the North American industry in 2020. Companies are focusing on producing and selling these drugs in solvent form. For example, Novo Nordisk and Ipsen Pharma are manufacturing drugs named Norditropin and Nutropin respectively in the form of a solvent.
Canada market share grows:
Canada growth hormone market size will witness 7.7% CAGR up to 2027 as there is a growing presence of advanced healthcare facilities that will play an important role in the early diagnosis of GH deficiency diseases. The demand for growth hormone therapies and the growing awareness in this regard will foster the production of these medicines in the country.
Access sample pages of the report, “North America Growth Hormone Market Forecasts 2027” in detail along with the table of contents (ToC) @
https://www.graphicalresearch.com/request/1984/sample
About Graphical Research:
Graphical Research is a business research firm that provides industry insights, market forecast and strategic inputs through granular research reports and advisory services. We publish targeted research reports with an aim to address varied customer needs, from market penetration and entry strategies to portfolio management and strategic outlook. We understand that business requirements are unique: our syndicate reports are designed to ensure relevance for industry participants across the value chain. We also provide custom reports that are tailored to the exact needs of the customer, with dedicated analyst support across the purchase lifecycle.
