Press Release

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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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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