Human Growth Hormone Market to Grow with a CAGR of 12.29% through 2028
Increase in the prevalence of growth disorders and
increase in the aging population is expected to drive the North America Human
Growth Hormone Market growth in the forecast period, 2024-2028.
According to TechSci Research report, “North
America Human Growth Hormone Market –Industry Size, Share,
Trends, Competition Forecast & Opportunities, 2028”, the North
America Human Growth Hormone Market stood at USD 1.99 billion in 2022 and is
anticipated to grow with a CAGR of 12.29% in the forecast period, 2024-2028.
The awareness among individuals regarding Human Growth Hormone has led to
favorable market conditions for the North America Human Growth Hormone market.
Several factors contribute to the growth of various Human Growth Hormone
products. The increasing awareness of the benefits of HGH
therapy, both in the medical community and among patients, has driven the
demand for HGH products. Additionally, regulatory bodies in various countries
have granted approvals for HGH use in specific medical conditions, further
legitimizing its application. These approvals provide assurance to healthcare
providers and patients, leading to the growth of the HGH market.
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With the North America population aging, there is a
growing demand for anti-aging and rejuvenation therapies. HGH has gained
popularity as an anti-aging treatment due to its potential to improve muscle
mass, reduce body fat, and enhance overall vitality. This has led to an expansion
of the HGH market as a growing number of individuals seek HGH therapy for
cosmetic and anti-aging purposes, which extends beyond traditional medical
indications, which will further fuel market growth.
In September 2023, Eli Lilly and Company announces
that the FDA has approved Tyvyt® (sintilimab injection) for the treatment of
adults with relapsed or refractory (R/R) large B-cell lymphoma (LBCL) after at
least two prior lines of systemic therapy, including an
anthracycline-containing chemotherapy regimen and rituximab.
Technological advancements in biotechnology and the
development of recombinant DNA technology have significantly improved the
manufacturing of synthetic HGH. Recombinant HGH is safer and more accessible
than earlier forms derived from cadaveric pituitary glands. These advancements
have made HGH more readily available and affordable, contributing to market
growth. Additionally, the development of long-acting formulations has reduced
the frequency of injections, making treatment more convenient for patients.
In today's fast-paced world, individuals often need
high levels of energy and vitality to keep up with their daily demands. HGH can
boost energy levels, making it easier to tackle a busy schedule, long work
hours, and other responsibilities. This increased vitality can help individuals
stay productive and alert throughout the day. HGH is known for its role in
stimulating the growth and repair of muscle tissues. This can lead to increased
muscle mass, strength, and endurance. For those in physically demanding jobs or
who engage in regular exercise, HGH can enhance physical performance, allowing
individuals to excel in their endeavors and handle the physical challenges of a
fast-paced life. Stress is a common aspect of modern life, and it can have both
physical and mental consequences. HGH promotes tissue repair and regeneration,
which can accelerate recovery from stress, whether it's caused by intense
physical activity or the pressures of a hectic lifestyle. This faster recovery
can help individuals maintain their well-being and performance. HGH receptors
are present in the brain, and studies have suggested that HGH may have a
positive impact on cognitive function. In a fast-paced world, mental acuity,
memory, and the ability to think on one's feet are crucial. HGH may enhance
cognitive performance, making it easier to excel in high-pressure situations,
stay focused, and solve complex problems.
The rising prevalence of growth disorders in both
children and adults. Growth hormone deficiency (GHD) in children can lead to
stunted growth, while in adults, it can result in various health issues.
Additionally, other medical conditions, such as Turner syndrome, Prader-Willi
syndrome, and chronic kidney disease, may require HGH treatment. As awareness
of these disorders increases and more people are diagnosed, the demand for HGH
therapy rises, spurring market growth.
In recent times, HGH has been a crucial therapeutic
option for individuals with growth-related disorders, especially children with
growth hormone deficiency (GHD). It is also used for conditions like Turner
syndrome, Prader-Willi syndrome, and chronic kidney disease that can lead to
growth retardation. In recent times, HGH therapy has become more accessible,
leading to improved growth outcomes for affected children. HGH therapy is used
to treat adults diagnosed with AGHD, which can result from pituitary tumors,
radiation therapy, or other medical conditions. In recent years, the
recognition of AGHD as a medical condition and the development of long-acting
HGH formulations have made treatment more effective and convenient. HGH has
gained popularity for its potential anti-aging and aesthetic benefits. Some
individuals seek HGH therapy to reduce the appearance of wrinkles, improve skin
elasticity, and decrease body fat. While these uses are often for cosmetic
purposes, they can enhance self-confidence and well-being. However, regulatory
oversight and compliance may hinder market growth. Moreover, challenges related
to Ethical and Safety Concerns and Long-Term Safety and Efficacy Data may pose
obstacles to the Human Growth Hormone market in the near future.
The North America Human Growth Hormone Market is
segmented into product, application, distribution channel, regional
distribution, and company.
Based on its application, the growth hormone
deficiency segment has emerged as the predominant market leader, the increasing
emphasis on the early detection and treatment of hormone deficiencies, coupled
with the efforts of biopharmaceutical companies to introduce innovative
therapies, is spurring the adoption of this segment. As an illustration, in May
2023, Novo Nordisk announced that the Committee for Medicinal Products for
Human Use of the European Medicines Agency issued a favorable statement
endorsing the use of their once-weekly Sogroya (somapacitan). This endorsement
pertains to the treatment of growth hormone deficiency in children aged three
years and older, as well as in adolescents with growth development issues.
Based on region, United States segment is expected to
grow during the forecast period. The growth of the regional market
is expected to be driven by heightened healthcare awareness among the
population, significant government initiatives, and favorable reimbursement
policies. Additionally, increasing research and development activities, ample
research funding, and the presence of organizations dedicated to raising
awareness and improving treatment rates are anticipated to contribute to the
region's market expansion. Furthermore, the strong presence of key industry
players, such as Pfizer Inc. and Lilly, is projected to bolster the region's
growth. In Europe, the second-largest market share is attributed to factors
such as the rising prevalence of growth hormone deficiencies, the availability
of synthetic growth hormones, and extensive research and development efforts in
the region.
The Canada market is poised to be the fastest-growing
market, offering lucrative growth opportunities for Human Growth Hormone
players during the forecast period. Factors such as stress, insufficient sleep,
and low glucose levels affect individuals. For instance, in 2021, the European
Medicines Agency reported that growth hormone deficiency affected approximately
4.7 out of 10,000 individuals in the Canadian Population. Among European
countries, Germany leads the market, while France is expected to achieve the
highest compound annual growth rate (CAGR) from 2023 to 2030.
Major companies operating in North America Human
Growth Hormone 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 advancement in technology and increasing Prevalence
of Growth Disorders are key drivers of the Human Growth Hormone market. In
recent years, the growing North America population drives the growth of the HGH
market. As people age, their natural HGH production decreases, leading to
various health issues. HGH therapy can address some of these age-related
concerns, including muscle loss, reduced bone density, and decreased energy
levels. Moreover, the growing consumer emphasis on preventative healthcare 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 Human Growth Hormone market in
the coming years.,” said Mr. Karan Chechi, Research Director with TechSci
Research, a research-based management consulting firm.
“North America Human Growth Hormone Market –
Segmented By Product (Long Acting, Others), By Application (Growth Hormone (GH)
Deficiency, Turner Syndrome, Idiopathic Short Stature, Prader-Willi Syndrome,
Small for Gestational Age, Other), By Distribution Channel (Hospital Pharmacy,
Retail Pharmacy, Online Pharmacy, Specialty Pharmacy), By Region, Competition,
Forecast, Opportunities, 2018-2028”, has evaluated the future growth potential of North
America Human Growth Hormone 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 North
America Human Growth Hormone Market.
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