New York, May 23, 2023 (GLOBE NEWSWIRE) -- The Human Growth Hormone Market in terms of revenue was estimated to be worth USD 3.4 Bn in 2022 and is poised to reach USD 7.3 bn by 2032, growing at a CAGR of 8.1% from 2023 to 2032.
Human growth hormone promotes cell regeneration and cell reproduction in individuals and other animals. Human growth hormone aids in the management of hormonal imbalance disorders and improves market development. Deficiency of growth hormone in humans is initiated when the pituitary gland doesn’t manufacture sufficient focus of human growth hormone.
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Key Takeaway:
- By Product in 2022, the powder segment has generated a revenue share of 56.5% in 2022.
- By Indication, the growth hormone deficiency segment held a prominent share of the global human growth hormone market revenue share from 2023 to 2032.
- By Route of Administration, the parenteral segment held the highest market revenue share in 2022.
- By Distribution Channel, the hospital pharmacy segment has dominated the market with a revenue share, and it is growing at the highest CAGR from 2023 to 2032.
- In 2022, North America dominated the market with the highest revenue share of 37.4%.
- Asia-Pacific held a significant revenue share of 23.7% in 2022.
Human growth hormone, also called somatotropin, is a peptide hormone that stimulates growth. Several genetic disorders, such as Turner syndrome and Parder-Willi syndrome, may similarly cause growth hormone lack in humans, prominent to hindered puberty and smaller than normal height. Growth hormone also encourages the manufacture of IGF-1 and increases the attention of free fatty acids.
Factors Affecting the Growth of the Human Growth Hormone Market
There are several factors that can affect the growth of the human growth hormone market. Some of these factors include:
- Rapid Development of Novel Recombinant Human Growth Hormones: The rapid development of novel recombinant human growth hormones is anticipated to propel market growth.
- Rising R &D Activities: Rising R &D activities for the development of innovative growth hormone treatments and a strong product portfolio drive the growth of human growth hormone.
- Increasing Awareness About Synthetic Human Growth Hormone Therapy: In developing countries, there is an increase in awareness about synthetic human growth hormone therapy and the rise incidence of growth disorders which fuel the market growth.
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Top Trends in Global Human Growth Hormone Market
The increasing trend of online pharmacies is obtaining popularity in the market. Human growth hormone is used for the treatment of several medical conditions such as Turner syndrome, growth hormone deficiency, and chronic kidney disease. synthetic human growth hormone is available in most counties, without a doctor’s prescription. An increase in the prevalence of growth hormone deficiency drives market growth.
Market Growth
The decreasing food habits and urban lifestyles are anticipated to increase the demand for human growth hormone medications and different treatment facilities drive the market growth. There has been a constant rise in public understanding related to the use of synthetic growth hormone therapy as well as improving incidence of diagnosis propel the market growth.
Regional Analysis
The human growth hormone market was dominated by North America, which acquired the most significant revenue share of 37.4% during the forecast period, owing to the variations such as favorable reimbursement policies, established healthcare infrastructure, and expanding healthcare consciousness. The increasing geriatric population and the presence of various market giants dominated the North American market.
The Asia-Pacific is projected to grow at the fastest CAGR during the forecast period. Market players are focusing on obtaining a significant share in potential countries of the APAC region.
Competitive Landscape
Various companies are focus on developing long-acting human growth hormones. The market is highly competitive due to the presence of various market players. This market player is experiencing strategic developments in order to remain competitive and obtain a significant market share. The competitive landscape of the market has also been examined in this report. Some of the major market players include
- Novartis AG
- Merck KGaA
- Pfizer Inc.
- Ferring B.V.
- Genetech Inc.
- Eli Lily and Company
- Novo Nordisk A/S
- Merck & Co., Inc.
- Teva Pharmaceutical Industries Ltd.
- Other Key Players
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Scope of the Report
| Report Attributes | Details |
| Market Value (2022) | USD 3.4 Billion |
| Market Size in 2032 | USD 7.3 Billion |
| CAGR (2023 to 2032) | 8.1% |
| North America Revenue Share | 37.4% |
| Asia-Pacific Revenue Share | 23.7% |
| Historic Period | 2016 to 2022 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2032 |
Market Drivers
Rising government initiatives are projected to significantly fuel market growth. Additionally, increasing awareness about synthetic growth hormone therapy in emerging countries drives market growth. Owing to the rise in diseases associated with growth hormone deficit, the increase in usage of aging hormones, determinations are taken by the government and several private organizations to spread consciousness of growth hormone deficiency, and robust efficiency drives the market growth.
Market Restraints
Economic restrictions faced by developing countries, and several obstacles in the market decrease the market growth. Stringent rules and regulations for the usage of human growth hormone by athletes and sports specialists are anticipated to hinder market growth. The high cost of growth hormone therapies and several side effects related to human growth hormone may hamper the market growth.
Market Opportunities
Due to their wide populations, India and China, are becoming key opportunities areas for the healthcare industry in the upcoming years. Additionally, a rise in the number of hospital pharmacies will offer significant opportunities for market growth. An increase in the approval of novel product approval and strategic collaboration among key players provides lucrative opportunities for the market.
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Report Segmentation of the Human Growth Hormone Market
Product Insight
The powder segment dominated the human growth hormone market, holding the most significant revenue share of 56.5%. It helps to regulate composition, body fluids, muscle, and bone growth. The most usual process in which growth hormones are managed is in powder form. This growth hormone is in a lyophilized powder procedure. The lyophilized powder is then prepared into suspension with several attentions in demand to produce growth hormone injectable doses.
Indication Insight
The growth hormone deficiency segment dominated the highest market revenue share in 2022. It is an endocrine disease categorized by the less excretion of growth hormones. attributed to the rise in awareness related to the initial detection and treatment of growth hormone deficiency in individuals, along with the launching of innovative medications for the human growth hormone.
Route of Administration Insight
The parenteral route of administration holds the largest market revenue share of the global human growth hormone market. Due to the fact that when hormone is injected by the parenteral route it is mainly absorbed in the cells.
Distribution Channel Insight
In 2022, the hospital pharmacy segment holds the highest market revenue share in the market during the forecast period. The increasing awareness about growth hormone deficit among individuals and the treatment drives the growth of the segments.
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Market Segmentation
By Product
- Liquid
- Powder
By Indication
- Growth Hormone Deficiency
- Prader-Willi Syndrome
- Turner Syndrome
- Other Indications
By Route of Administration
- Oral
- Parenteral
By Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
By Geography
- North America
- The US
- Canada
- Mexico
- Western Europe
- Germany
- France
- The UK
- Spain
- Italy
- Portugal
- Ireland
- Austria
- Switzerland
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe
- Russia
- Poland
- The Czech Republic
- Greece
- Rest of Eastern Europe
- APAC
- China
- Japan
- South Korea
- India
- Australia & New Zealand
- Indonesia
- Malaysia
- Philippines
- Singapore
- Thailand
- Vietnam
- Rest of APAC
- Latin America
- Brazil
- Colombia
- Chile
- Argentina
- Costa Rica
- Rest of Latin America
- Middle East & Africa
- Algeria
- Egypt
- Israel
- Kuwait
- Nigeria
- Saudi Arabia
- South Africa
- Turkey
- United Arab Emirates
- Rest of MEA
Recent Development of the Human Growth Hormone Market
- In February 2021, Pfizer Inc. and OPKO Health Inc. introduce that the European Medicines Agency has accepted Somatrogon for the cure of juvenile growth hormone deficiency patients.
- In August 2021, Ascendis Pharma receive Food and Drug Administration authorization for their SKYTROFA injectable in August. These products will be release in the whole market, tolerating the corporation to make major revenue.
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