Human Growth Hormone (HGH) Market to Grow with a CAGR of 12.35% through 2028
Growing awareness about growth hormones are expected
to drive the Global Human Growth Hormone (HGH) Market in the forecast period
2024-2028.
According to TechSci Research report, “Human Growth
Hormone (HGH) Market – Global Industry Size, Share, Trends, Competition
Forecast & Opportunities, 2028”, the Global Human Growth Hormone (HGH)
Market stood at USD 4.03 billion in 2022 and is anticipated to grow with a CAGR
of 12.35% in the forecast period, 2024-2028. The market is expanding due to
various factors, including increased awareness about growth hormones and their
growing use in addressing hormonal imbalances. Additionally, major
pharmaceutical and biopharmaceutical companies are actively engaged in extensive
research and development endeavors to introduce innovative hormone therapies.
These therapies are designed to offer prolonged effectiveness and improved
safety profiles, thereby further propelling global market growth. Furthermore,
the rising occurrence of growth hormone deficiencies stemming from congenital
issues, genetic disorders, brain injuries, and specific medical treatments has
led to a heightened need for hormone-based treatments. As per data from the
NCBI, the prevalence of pediatric growth hormone deficiency stands at
approximately 1 in every 3,500-4,000 children in the United Kingdom.
Furthermore, the growth hormone sector is currently witnessing growth, driven
by ongoing research and developmental endeavors within this domain. For
instance, in February 2022, OPKO and Pfizer received marketing approval from
the European Union for their Once-Weekly NGENLA (somatrogon) Injection,
designed for treating pediatric growth hormone deficiency.
Moreover, early
identification of endocrine disorders like Hashimoto thyroiditis, Graves’
disease, Cushing's disease, Addison's disease, hyperthyroidism/hypothyroidism,
and prolactinoma, among others, plays a pivotal role in enhancing treatment
outcomes and averting severe complications. Various governments and
international entities have launched initiatives and campaigns aimed at
promoting early detection. For instance, in 2019, the International Coalition
of Organizations Supporting Endocrine Patients, a U.S.-based organization,
introduced International Children's Growth Awareness Day to raise awareness
about the significance of early diagnosis in recognizing endocrine disorders.
The market's growth trajectory is also expected to be influenced by the
COVID-19 pandemic. According to a Frontiers article, individuals with deficient
growth hormone production are deemed to be at an elevated risk for COVID-19,
underscoring the importance of preventative measures in this specific
population.Human Growth Hormone (HGH), also known as
somatotropin, is a vital peptide hormone produced and secreted by the anterior
pituitary gland, a small gland located at the base of the brain. HGH plays a
crucial role in the growth, development, and overall health of the human body. Growth and Development: HGH is perhaps best known for
its role in promoting growth during childhood and adolescence. It stimulates
the growth of bones, cartilage, and soft tissues, leading to an increase in
height and overall body size. A deficiency in HGH during this period can result
in stunted growth and development. Cell Growth and Regeneration: Beyond
childhood, HGH continues to play a vital role in maintaining and repairing
tissues throughout life. It stimulates the growth and regeneration of cells, helping
to replace damaged or aging cells with new ones. Metabolism: HGH influences the
body's metabolism by promoting the breakdown of fats and their conversion into
energy. It also helps regulate glucose levels in the bloodstream, making it an
important factor in maintaining a healthy body composition.
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Human Growth Hormone Market.”
The Global Human Growth Hormone (HGH) Market is driven
by several key factors: Rising Awareness: Increased awareness among healthcare
professionals and patients about growth hormone-related disorders and the
benefits of HGH therapy fuels market demand. Aging Population: As the global
population ages, there's a growing need for HGH therapies to counteract the
natural decline in growth hormone levels, driving market growth. Advancements
in Biotechnology: Ongoing biotechnological advancements, including the
development of biosimilar HGH products, improve treatment options and
affordability. Regulatory Approvals: Regulatory approvals and guidelines ensure
the safety and efficacy of HGH products, instilling confidence in both
healthcare providers and patients. Research and Development: Pharmaceutical
companies invest in research to expand indications for HGH, creating new
applications and driving innovation within the market. Global Healthcare
Expenditure: Increased healthcare spending in emerging markets enhances
affordability and accessibility of HGH treatments. Strategic Partnerships:
Collaborations and partnerships within the pharmaceutical industry foster the
development, distribution, and promotion of HGH products. Off-Label Use: While
controversial, off-label use of HGH for purposes like performance enhancement
and anti-aging contributes to market growth. Improved Delivery Methods: Ongoing
research focuses on innovative delivery methods, making HGH therapies more
convenient and patient friendly. These drivers collectively contribute to the
sustained growth and evolution of the Global HGH Market, providing patients
with improved treatment options and enhancing their quality of life.
The Global Human Growth Hormone (HGH) Market is
segmented into product, application, distribution channel, regional
distribution, and company.
Based on application, the market is segmented into Growth
Hormone (GH) Deficiency, Turner Syndrome, Idiopathic Short Stature, Prader-Willi
Syndrome, Small for Gestational Age, Other. The growth hormone deficiency
segment is expected to rise in the forecast period. This is attributed due to its
increasing awareness about the importance of early diagnosis and treatment of
hormone deficiency, along with the endeavors of biopharmaceutical companies to
introduce innovative therapies, are driving the adoption of this segment. For
instance, in May 2023, Novo Nordisk declared that the Committee for Medicinal
Products for Human Use of the European Medicines Agency had released a
favorable statement recommending the use of once-weekly Sogroya (somapacitan).
The recommendation is for the treatment of growth hormone deficiency in
children aged three years and above, as well as adolescents with development
failure.
Based on Distribution Channel, the market is segmented
into Hospital Pharmacy, Retail Pharmacy, Online Pharmacy, Specialty Pharmacy.
The Hospital Pharmacy segment was dominated the market in 2022. This is due to increasing
prevalence of the disease, higher frequency of hospital visits, and favorable
reimbursement policies are driving the adoption of this segment. Moreover,
patients are showing a preference for recombinant and artificial HGH, which is
readily available in hospital pharmacies. These factors are contributing to the
growth and application of this segment. The online pharmacy segment is expected
to experience rapid growth in the coming years.
Major companies operating in Global
Human Growth Hormone (HGH) Market are:
- Novo Nordisk A/S
- Eli Lilly and Company
- Pfizer, Inc.
- Sandoz International GmbH (Novartis
AG)
- Genentech, Inc. (Roche)
- Merck KGaA
- Ferring Pharmaceuticals
- Ipsen
- Teva Pharmaceutical Industries, Ltd
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“The Global Human Growth Hormone (HGH) Market is
propelled by an aging population's growing demand for anti-aging and
age-related health solutions. Advancements in biotechnology, including
biosimilar HGH products, have improved affordability and accessibility.
Regulatory approvals instill confidence, while pharmaceutical companies'
research and development efforts expand HGH's medical applications. Rising
healthcare expenditure, strategic industry partnerships, and off-label use for
purposes like performance enhancement contribute to market growth, as do
innovations in delivery methods, making HGH treatments more convenient contributes
to foster the demand for Global Human Growth Hormone (HGH) Market in the
forecast period” said Mr. Karan Chechi, Research Director with TechSci
Research, a research-based management consulting firm.
“Human Growth Hormone (HGH)
Market - Global Industry Size, Share, Trends, Opportunity, and Forecast,
2018-2028 Segmented By Technology (Stereo Lithography, Deposition Modeling,
Electron Beam Melting, Laser Sintering, Jetting Technology, Laminated Object
Manufacturing, and Other), By Application (Medical Implants, Prosthetics,
Wearable Devices, Tissue Engineering, and Other Applications), By Material
(Metal and Alloy, Polymer, and Other), By Region and Competition.” has evaluated
the future growth potential of Global Human Growth Hormone (HGH) Market and
provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Human Growth Hormone (HGH) Market.
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