Pediatric Growth Hormone Deficiency Market to Grow with a CAGR of 8.12% through 2028
Increase in the incidence of Prevalence of Pediatric
Growth Hormone Deficiency and increase in the Healthcare Infrastructure is
expected to drive the Global Pediatric Growth Hormone Deficiency Market growth
in the forecast period, 2024-2028.
According to
TechSci Research report, “Pediatric Growth Hormone Deficiency Market – Global
Industry Size, Share, Trends, Competition Forecast & Opportunities,
2028”, the Global Pediatric Growth Hormone Deficiency Market stood at USD 3.45
billion in 2022 and is anticipated to grow with a CAGR of 8.12% in the forecast
period, 2024-2028. The awareness among individuals regarding Pediatric Growth
Hormone Deficiency has led to favorable market conditions for the global Pediatric
Growth Hormone Deficiency market. Several factors contribute to the growth of
various Pediatric Growth Hormone Deficiency products.
The rising incidence
of PGHD is a primary driver of market growth. Several factors contribute to
this increase, including genetic predisposition, premature birth, and various
medical conditions. Improved awareness and diagnostic capabilities have also
led to more cases being identified. As the number of diagnosed PGHD cases
grows, the demand for growth hormone therapy rises, boosting market revenues.
This driver encourages pharmaceutical companies to invest in research and
development to meet the escalating demand.
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The ongoing
commitment to research and development has resulted in the emergence of
innovative growth hormone therapies characterized by enhanced effectiveness and
safety profiles. These advancements encompass long-acting formulations,
biosimilar offerings, and precise delivery techniques. The proliferation of
improved treatment alternatives stimulates market expansion by broadening the
array of options accessible to both healthcare professionals and patients.
Furthermore, the introduction of biosimilars may promote competitive pricing,
ultimately increasing treatment affordability, which will further fuel market
growth.
Merck KGaA is
investing USD24.51 million in the expansion of its cell culture media
production facility in Kansas, USA. The company is also investing USD74.60
million in the expansion of its reagent manufacturing facility in Nantong,
China. These investments are expected to increase Merck KGaA's production
capacity for key pharmaceutical ingredients and reagents.
Increased access
to health information through the internet and social media has made parents
and caregivers more informed about childhood health conditions, including PGHD.
They are more likely to seek medical attention if they suspect growth issues in
their children. As parents and
caregivers seek medical advice earlier and advocate for their children's
health, PGHD cases are diagnosed and treated at an earlier stage, improving
outcomes and increasing the overall prevalence.
In today's
fast-paced world, Pediatric Growth Hormone Deficiency (PGHD) plays a crucial
role in the fast-paced world by addressing growth-related health issues in
children and ensuring their physical development. Consequently, physical
development is essential for children to keep up with their peers and engage in
various activities. PGHD treatment, typically involving growth hormone therapy,
helps children achieve their genetic growth potential, ensuring that they grow
at a healthy rate. This enables them to participate in physical activities,
sports, and social interactions with confidence. Children with PGHD often
experience not only growth-related issues but also psychological and social
challenges, such as low self-esteem and feelings of exclusion. Early diagnosis
and treatment can improve their overall quality of life by addressing both
physical and emotional aspects. A child's growth can impact their academic performance
and career opportunities. In a competitive educational and professional
landscape, being shorter than average can lead to self-esteem issues and
discrimination. PGHD treatment aims to ensure that children reach their full
height potential, helping them compete on an equal footing with their peers.
Telemedicine
enables healthcare providers to diagnose and manage PGHD cases even in areas
with limited physical healthcare infrastructure. This technology-driven
approach increases the reach of PGHD diagnosis and treatment, positively
impacting the market.
In recent times,
Pediatric Growth Hormone Deficiency (PGHD) continues to be used extensively in
recent times for a range of medical and therapeutic purposes. The primary use
of PGHD treatment involves the administration of growth hormone therapy to
children diagnosed with growth hormone deficiency. Consequently, the primary use of PGHD is to diagnose and treat
children with Growth Hormone Deficiency (GHD), a condition characterized by
inadequate production of growth hormone by the pituitary gland. Growth hormone
therapy helps children with GHD achieve normal growth and development,
increasing their height and improving overall health. It is administered
through subcutaneous injections of synthetic growth hormone. Turner syndrome is
a genetic condition that affects girls and can lead to short stature and other
health issues. PGHD therapy is often used to address short stature in girls
with Turner syndrome. Growth hormone therapy can help girls with Turner
syndrome achieve a more typical height and improve their overall health.
However, the High Cost of Growth Hormone Therapy may hinder market growth.
Moreover, challenges related to Limited Awareness and Diagnosis Challenges may
pose obstacles to the Pediatric Growth Hormone Deficiency market in the near
future.
The Global Pediatric
Growth Hormone Deficiency Market is segmented into type, application, drug,
distribution channel, regional distribution, and company.
Based on its
formulation, the Congenital GHD, which is present at birth or detected during
early childhood, represents a significant portion of diagnosed cases, and its
prevalence is influenced by various clinical and demographic factors. Congenital
GHD is characterized by the absence or malfunction of the pituitary gland or
hypothalamus responsible for growth hormone production. This condition often
manifests in infancy or early childhood, leading to earlier diagnosis and
intervention. Early diagnosis allows for prompt initiation of growth hormone therapy,
which is crucial for achieving optimal growth outcomes. Physicians and
caregivers are more likely to identify congenital GHD because of noticeable
growth delays and developmental concerns, driving the dominance of this segment.
Based on region,
North America segment is expected to grow during the forecast
period. The United States places a strong emphasis on early
diagnosis and intervention in pediatric healthcare. Routine health check-ups
and well-child visits enable the early identification of growth-related issues,
including PGHD. The culture of early diagnosis ensures that a significant
proportion of PGHD cases are identified at a young age, enabling timely
interventions with growth hormone therapy. This proactive approach contributes
to the dominance of the region. Health insurance coverage in the United States,
although complex, often includes coverage for pediatric healthcare needs,
including growth hormone therapy. This reduces financial barriers for many
families. Improved access to care, driven by insurance coverage and financial
support, ensures that children with PGHD have the means to seek diagnosis and
treatment. This positively impacts the prevalence of diagnosed cases and the
market's growth.
The Asia-Pacific
market is poised to be the fastest-growing market, offering lucrative growth
opportunities for Pediatric Growth Hormone Deficiency players during the
forecast period. Factors such as The Asia-Pacific region has experienced rapid
economic growth and urbanization, leading to lifestyle changes and dietary
habits that can impact child growth. As a result, there has been an increase in
the prevalence of PGHD in the region. A higher prevalence of PGHD cases
naturally drives the demand for growth hormone therapy in the APAC region,
contributing to market growth. Many countries in the APAC region have been
investing in their healthcare infrastructure, including pediatric endocrinology
departments and specialized clinics. This expansion improves access to PGHD
diagnosis and treatment. Improved healthcare infrastructure ensures that more
children with PGHD can receive proper diagnosis and treatment, fostering market
growth.
Major companies
operating in Global Pediatric Growth Hormone Deficiency Market are:
- Novo Nordisk A/S
- Eli Lily and Company
- Novartis AG
- Merck KgaA
- Pfizer Inc.
- Ferring B.V
- Genentech Inc
- BioParteners GmbH
- LG Chem Ltd.
- Ipsen Pharma
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“The Advancements
in Growth Hormone Therapies and increasing Awareness and Patient Advocacy are
key drivers of the Pediatric Growth Hormone Deficiency market. In recent years,
Pharmaceutical companies invest in improving existing therapies and developing
innovative solutions, contributing to the continuous advancement of PGHD
treatment options. Moreover, the growing consumer emphasis on preventative
healthcare products has enhanced production and marketing efforts. To meet the
demands of the market, manufacturers are increasingly incorporating
cutting-edge technologies with high production efficiency. Rising consumer
acceptance and continuous product innovation will further ensure the growth of
the Pediatric Growth Hormone Deficiency and supplements market in the coming
years.,” said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based management consulting firm.
“Pediatric
Growth Hormone Deficiency Market – Global Industry Size, Share, Trends,
Opportunity, & Forecast 2018-2028 Segmented By Type (Congenital GH
Deficiency, Acquired GH Deficiency, Idiopathic GH Deficiency), By Product
(Powder, Solvent), By Application (Growth Hormone Deficiency, Idiopathic Short
Stature, Turner Syndrome, Small For Gestational Age, Prader-Willi Syndrome,
Others), By Drug (Growth Hormone Deficiency, Idiopathic Short Stature, Turner
Syndrome, Small For Gestational Age, Prader-Willi Syndrome, Others), By
Distribution Channel (Growth Hormone Deficiency, Idiopathic Short Stature,
Turner Syndrome, Small For Gestational Age, Prader-Willi Syndrome, Others), By
Region & Competition”, has evaluated the future growth potential of Global
Pediatric Growth Hormone Deficiency 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 Pediatric Growth Hormone Deficiency Market.
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