Growth Hormone Drug Market Size, Share Analysis and Growth Forecast...

Growth Hormone Drug Market Size, Share Analysis and Growth Forecast 2028

Posted 2024-02-09 07:53:44

Market Overview: The global market for growth hormone drugs experienced significant robustness in 2020 and is anticipated to maintain a steady revenue Compound Annual Growth Rate (CAGR) throughout the forecast period. Factors such as technological advancements in recombinant Human Growth Hormone drugs and the increasing adoption of off-label human growth hormones are projected to propel revenue growth in the growth hormone drug market. Additionally, the growing awareness of the benefits of growth hormones in treating growth hormone deficiency disorders among humans contributes to the demand for growth hormone drugs.

Get a sample copy of the Growth Hormone Drug Market report, visit: https://www.reportsanddata.com/download-free-sample/4257

Growth hormone, also known as somatotropin in humans, is a peptide hormone released by the pituitary gland. This hormone primarily regulates cell growth, regeneration, repair, reproduction, and metabolism, thereby playing a vital role in overall body growth and development. Human growth hormones also assist in weight management, bone and muscle growth, enhancing muscle strength and performance, maintaining fluid balance, regulating fat and sugar metabolism, and facilitating injury recovery. Factors such as exercise, sleep, stress levels, and glucose levels influence the regulation of growth hormone levels in the human body, which are crucial for normal growth.

Instances of growth hormone deficiency occur when the pituitary gland fails to produce sufficient human growth hormones. Treatment for this deficiency involves administering subcutaneous injections of recombinant human growth hormones. The increasing incidence of Turner syndrome and other growth-related disorders serves as a key driver for market growth. Turner syndrome, characterized by a chromosomal disorder, is often treated with growth hormones to alleviate symptoms, thus driving global demand for growth hormone drugs. Deficiencies in growth hormones in the human body lead to various disorders, including Prader-Willi syndrome and idiopathic short stature, which can be managed with synthesized growth hormone.

Major Drivers Fueling the Global Growth Hormone Drug Market: Revenue growth in the global growth hormone drug market is expected to be significantly driven by factors such as the escalating use of Human Growth Hormone (HGH) as performance enhancers by bodybuilders, advancements in recombinant human growth hormone development, and the increased risk of diseases and fat accumulation due to HGH deficiency.

Factors Restraining Growth in the Global Growth Hormone Drug Market: Revenue growth in the global growth hormone drug market could face hindrances due to factors such as stringent government regulations regarding drug approval and the substantial investments and time required for drug development by pharmaceutical companies. Moreover, various side effects associated with growth hormone drugs, including muscle or joint pain, headaches, fluid retention, body swelling, numbness, and tingling of the skin, may restrain their adoption rate, thereby impeding revenue growth. Additionally, the high cost of treating growth hormone diseases could moderately hinder the growth of the global growth hormone drug market.

Opportunities for Players in the Global Growth Hormone Drug Market: Significant research and development activities aimed at developing innovative and advanced growth hormone therapies are expected to create lucrative business expansion and revenue opportunities for both established companies and new entrants. Moreover, the growing number of FDA approvals and high investments by both government and private sectors are anticipated to offer opportunities for major players to develop new and more effective drugs with fewer side effects.

Global Growth Hormone Drug Market Revenue Led by Product Type Segment: The Growth Hormone Deficiency (GHD) segment is projected to account for the largest revenue share over the forecast period based on type. This is attributed to increasing awareness of the benefits of early diagnosis and treatment of growth hormone deficiency and the introduction of advanced medications for treating human growth hormone deficiencies. The Turner syndrome segment is expected to register robust revenue growth during the forecast period, driven by the rising need for early detection and medication for Turner syndrome treatment.

Global Growth Hormone Drug Market Leading End-Use Segment: The hospital pharmacy segment is anticipated to hold the largest revenue share over the forecast period based on end-use. This is driven by an increasing number of hospital visits due to the rising prevalence of growth hormone insufficiency in humans and growing awareness of available drugs and therapies. Patients often obtain these drugs from hospital pharmacies to ensure proper treatment, as human growth hormone is available only on prescription. The online pharmacy segment is expected to witness the highest revenue growth rate during the forecast period due to the increasing penetration of online pharmacies globally.

North America Leads in Global Growth Hormone Drug Market Revenue Share: North America is estimated to account for the highest revenue share in the global growth hormone drug market among regional markets. The growth in North America is mainly attributed to favorable reimbursement scenarios, developed healthcare infrastructure, significant government initiatives, and increasing healthcare awareness.

Major Companies Profiled in the Report: The report profiles major companies such as Novo Nordisk, Pfizer, Inc., Eli Lilly and Company, Sandoz International GmbH (Novartis AG), GeneScience Pharmaceuticals Co. Ltd, Merck KGaA, Anhui Anke Biotechnology (Group) Co., Ltd, Ipsen, Merck & Co, Genentech, Inc., Ferring Pharmaceuticals, Teva Pharmaceutical Industries, EMD Serono Inc., Hoffmann-La Roche AG, among others.

Strategies and Objectives of Major Companies: In February 2021, Pfizer Inc. initiated a Phase III clinical trial to investigate the effectiveness and safety of somatropin in a group of Japanese patients with Prader-Willi Syndrome (PWS). In October 2020, Erasmus Medical Center commenced a Phase III clinical trial in collaboration with Pfizer, the Foundation for Prader-Willi Research, and the Prader-Willi Fonds to assess the impact of growth hormone treatment (Genotropin) on physical and psychosocial health in adults with Prader-Willi syndrome who are 30 years or older.

Browse more reports:

Steel Fiber Market-https://www.reportsanddata.com/report-detail/steel-fiber-market

Resilient Flooring Market-https://www.reportsanddata.com/report-detail/resilient-flooring-market

Agricultural Biology Market-https://www.reportsanddata.com/report-detail/agricultural-biology-market

Commercial Flooring Market-https://www.reportsanddata.com/report-detail/commercial-flooring-market

Injection Molding Machine Market-https://www.reportsanddata.com/report-detail/injection-molding-machine-market

Request a customization of the report: https://www.reportsanddata.com/request-customization-form/4257

Thank you for taking the time to read our article. The report can be tailored to the needs of the client. Please contact us for more details, and our team will tailor the report to your specific requirements.

About Reports and Data

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behaviour shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

Contact Us:

John W

(Head of Business Development)

Reports and Data | Web: www.reportsanddata.com

Direct Line: +1-212-710-1370

E-mail: sales@reportsanddata.com

Blogs | Press Release | Industry News | Our competencies

Browse More Upcoming Reports @ https://www.reportsanddata.com/upcoming-reports