Wilmington, Delaware, United States, Jan. 02, 2024 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - Human growth hormone market was valued at US$ 2.8 billion in 2022. A CAGR of 3.7% is expected from 2023 to 2031, reaching US$ 3.9 billion. Children and adolescents benefit from HGH, a hormone produced by the pituitary gland. As well as regulating body fluids, fat, bones, muscles, sugar, and heart function, it helps to regulate body composition and body fluids. Several prescription drugs and Internet-available products contain HGH, a synthetic hormone produced synthetically.
Several studies have shown that fasting results in a significant increase in human growth hormone. Recent research has shown that the levels of human growth hormone increase five times during a 24-hour fast. The development of new and improved forms of HGH therapy may be possible with ongoing research and advancements in biotechnology.
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This would lead to more efficient delivery methods, improved safety profiles, and lower costs. The HGH market can be significantly affected by changes in regulatory policies. The availability and marketing of HGH products may be affected by stricter regulations or approval processes.
Key Findings of the Market Report
- Oral route of administration is likely to drive demand for human growth hormones in the market.
- Online pharmacy is expected to create demand for HGH in the future.
- Based on indication, turner syndrome is anticipated to drive demand for HGH in the future.
- By 2031, North America will have the largest market for human growth hormone.
Global Human Growth Hormone Market: Key Players
The leading players in the growth hormone therapy market are expanding their geographic footprints through acquisitions and collaborations. Research and development are also being undertaken to develop advanced and customized devices to monitor the effects of treatment for problems with human growth hormone.
Prominent Players specializing in Human Growth Hormone Therapeutics
- Merck KGaA
- Pfizer Inc.
- Eli Lilly and Company
- Novartis AG
- Novo Nordisk A/S
- Anhui Anke Biotechnology (Group) Co. Ltd
- Biopartners GmbH
- Ipsen S.A.
- GeneScience Pharmaceuticals Co. Ltd.
- Roche Holdings Inc.
Global Human Growth Hormone Market: Growth Drivers
- Research on human growth hormone and the availability of information have led to an increased awareness of its benefits. HGH is highly sought after because it plays a significant role in metabolism, growth, and overall well-being. Growth hormone deficiency is common in both children and adults, which makes growth hormone treatments more desirable.
- A significant breakthrough in biotechnology has enabled synthetic HGH production, particularly through recombinant DNA technology. As a result, HGH treatments have become more accessible and safer. Growing aging populations in many parts of the world may increase demand for HGH. Natural growth hormone production is often diminished with aging, which may lead some individuals to seek HGH therapy.
- A number of lifestyle factors, including poor diet, an inactive lifestyle, and stressful circumstances, can have a significant impact on hormone levels, including growth hormone. A comprehensive health and wellness strategy may include HGH therapy as a therapeutic option for lifestyle-related disorders. HGH supplements and therapies have been developed and marketed as anti-aging solutions. HGH demand can be driven by the desire to maintain a youthful appearance and address age-related problems.
- HGH treatments may become more accessible and more affordable as healthcare spending rises globally. Healthcare infrastructure and disposable income are particularly important in regions with strong healthcare infrastructures. The approval of HGH therapies and products could have a significant impact on market growth. Several health authorities have approved HGH treatments, giving consumers and healthcare professionals confidence in their safety and efficacy.
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Global Human Growth Hormone Market: Regional Landscape
- North America is expected to dominate the human growth hormone market. A variety of medical conditions are treated with HGH, including short stature in children, Turner syndrome, chronic kidney failure, and growth hormone deficiency. These conditions might influence the demand. With the increasing demand for anti-aging medications, several studies are being conducted to determine the effectiveness of HGH.
- People seeking interventions for age-related concerns may be affected by the aging population in North America. Sport and fitness professionals sometimes use HGH to enhance performance. A sports and fitness culture trend may influence demand for these products. Changing regulations regarding its use and prescription may affect the demand for HGH.
Global Human Growth Hormone Market: Segmentation
By Route of Administration
- Intravenous
- Subcutaneous
- Intramuscular
- Oral
By Distribution Channel
- Hospital Pharmacy
- Online Pharmacy
- Retail Pharmacy
- Clinics
By Indication
- Growth Hormone Deficiency
- Turner Syndrome
- Idiopathic Short Stature
- Prader-Willi Syndrome
- Other Indications
By Region
- North America
- Latin America
- Asia Pacific
- Europe
- Middle East & Africa
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