Dublin, Nov. 10, 2022 (GLOBE NEWSWIRE) -- The "Biosimilar Growth Hormones Global Market Report 2022: By Route, By Application, By Distribution" report has been added to ResearchAndMarkets.com's offering.
The global biosimilar growth hormones market is expected to grow from $0.59 billion in 2021 to $0.64 billion in 2022 at a compound annual growth rate (CAGR) of 8.4%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $0.89 billion in 2026 at a CAGR of 8.4%.
The main routes of administration in biosimilar growth hormone are intravenous, subcutaneous, intramuscular and oral. Intravenous treatment is a medical procedure that involves injecting fluids, drugs, and nutrients into a patient's vein. The different applications include growth hormone deficiency, turner syndrome, idiopathic short stature, prader willi syndrome, others and is distributed through various channels such as hospital and retail pharmacy, online pharmacy/epharmacy, speciality clinics.
North America was the largest region in the biosimilar growth hormone market in 2021. Middle East is expected to be the largest growing region in the forecast period. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The growing number of children suffering from growth hormone deficiency is driving the growth of the global biosimilar growth hormone market. Growth hormone deficiency is caused by damage to the pituitary gland or hypothalamus, which may be the result of an abnormal formation that occurred before the child was born (congenital) or something that occurred during or after birth (acquired). Growth hormone deficiency has been identified in about 1 in every 3,800 babies. Additionally, some children acquire it later in their life as a result of a brain tumor, brain operation, radiation therapy, injury or infection. Thus, an increase in the number of children suffering from growth deficiency drives the growth of the market.
The growing awareness about the side effects caused by the continuous usage of the biosimilar growth hormones is expected to restrict the growth of the market. Possible side effects of HGH use include nerve, muscle, or joint pain, swelling due to fluid in the body's tissues (edema), carpal tunnel syndrome, numbness and tingling of the skin, and high cholesterol levels. Continuous dosage of HGH can also increase the risk of diabetes and contribute to the growth of cancerous tumors, thus restraining the growth of the market.
Recombinant DNA technology (rDNA technology) is increasingly being implemented in the biosimilar growth hormone industry. The development of biosimilar growth hormone by using recombinant DNA technology (rDNA technology) is an emerging trend. For instance, in 2020, rBIO was produced utilizing Recombinant DNA technology. rBIO can cut the cost of insulin by 30%, rendering insulin and other medications more cost-effective in the United States.
Scope
Markets Covered:
1) By Route Of Administration: Intravenous; Subcutaneous; Intramuscular; Oral
2) By Application: Growth Hormone Deficiency; Turner Syndrome; Idiopathic Short Stature; Prader Willi Syndrome; Others
3) By Distribution Channel: Hospital And Retail Pharmacy; Online Pharmacy/ePharmacy; Speciality Clinics
Key Topics Covered:
1. Executive Summary
2. Biosimilar Growth Hormones Market Characteristics
3. Biosimilar Growth Hormones Market Trends And Strategies
4. Impact Of COVID-19 On Biosimilar Growth Hormones
5. Biosimilar Growth Hormones Market Size And Growth
6. Biosimilar Growth Hormones Market Segmentation
7. Biosimilar Growth Hormones Market Regional And Country Analysis
8. Asia-Pacific Biosimilar Growth Hormones Market
9. China Biosimilar Growth Hormones Market
10. India Biosimilar Growth Hormones Market
11. Japan Biosimilar Growth Hormones Market
12. Australia Biosimilar Growth Hormones Market
13. Indonesia Biosimilar Growth Hormones Market
14. South Korea Biosimilar Growth Hormones Market
15. Western Europe Biosimilar Growth Hormones Market
16. UK Biosimilar Growth Hormones Market
17. Germany Biosimilar Growth Hormones Market
18. France Biosimilar Growth Hormones Market
19. Eastern Europe Biosimilar Growth Hormones Market
20. Russia Biosimilar Growth Hormones Market
21. North America Biosimilar Growth Hormones Market
22. USA Biosimilar Growth Hormones Market
23. South America Biosimilar Growth Hormones Market
24. Brazil Biosimilar Growth Hormones Market
25. Middle East Biosimilar Growth Hormones Market
26. Africa Biosimilar Growth Hormones Market
27. Biosimilar Growth Hormones Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Biosimilar Growth Hormones Market
29. Biosimilar Growth Hormones Market Future Outlook and Potential Analysis
30. Appendix
Companies Mentioned
- Biopartners And LG Chem
- Amega Biotech
- Eli Lilly and Company
- Genetech inc.
- Novartis AG
- Zhongshan Hygene Biopharm Co. Ltd.
- Merck
- Sanofi S.A.
- Biosidus
- Ferring Pharmaceuticals
- USV
- Novo Nordisk A/S
For more information about this report visit https://www.researchandmarkets.com/r/6js8l8
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