|
Forecast
Period
|
2024-2028
|
|
Market
Size (2022)
|
USD
1.99 billion
|
|
CAGR
(2023-2028)
|
12.29%
|
|
Fastest
Growing Segment
|
Growth
Hormone Deficiency
|
|
Largest
Market
|
North
America
|
Market Overview
North
America Human Growth Hormone Market has valued at USD 1.99 billion in 2022 and
is anticipated to project robust growth in the forecast period with a CAGR of 12.29%
through 2028. The Human Growth Hormone Market has witnessed steady growth over
the years. Factors contributing to this growth include the increasing awareness
of the importance of early diagnosis and treatment of growth hormone
deficiencies, biopharmaceutical innovation, and the expansion of treatment
options for rare conditions. The market is expected to continue growing, driven
by innovations in biotechnology, increasing prevalence of hormone deficiencies,
and advances in personalized medicine.
Key Market Drivers
Increased Awareness and
Diagnosis
Increased
awareness and diagnosis play a critical role as a market driver for the growth
of the North America Human Growth Hormone Market the fundamental component of this driver is the heightened
awareness among patients and healthcare providers regarding the importance of
early diagnosis and treatment of growth hormone deficiencies. This awareness
has been facilitated through various channels, including healthcare campaigns,
educational initiatives, and information dissemination through medical
professionals. Patients and their caregivers are increasingly recognizing the
signs and symptoms of growth hormone deficiencies, leading to more individuals
seeking medical evaluation and diagnosis. In the case of children, early
diagnosis and intervention are crucial in addressing pediatric growth
disorders. These disorders encompass conditions such as idiopathic short
stature, growth hormone deficiency, and Turner syndrome. Parents and caregivers
are now better informed about these conditions, which has led to more children
being screened and diagnosed. As a result, there is an increased demand for
growth hormone therapies tailored to children with growth disorders.
The
awareness of growth hormone deficiencies is not limited to children. There is a
growing recognition of hormone deficiencies in adults as well. Adult growth
hormone deficiency can be linked to various health issues, and with increased
awareness, more adults are seeking medical evaluation and treatment. This
expansion of the patient base into the adult population further drives market
growth. Many government and non-governmental health organizations have launched
awareness campaigns and health initiatives that focus on growth hormone
deficiencies. These initiatives include the dissemination of educational
materials, the organization of health camps, and partnerships with healthcare
providers to promote early diagnosis and treatment. These efforts have a profound
impact on raising awareness and encouraging individuals to seek medical
attention. The involvement of the medical community is crucial in driving
awareness and diagnosis. Healthcare professionals, including pediatricians,
endocrinologists, and primary care physicians, play a pivotal role in
recognizing symptoms, referring patients for diagnostic testing, and initiating
treatment. The medical community's increased awareness and commitment to early
diagnosis enhance the effectiveness of this driver.
Biopharmaceutical Innovation
Biopharmaceutical
innovation is a significant market driver for the growth of the North America
Human Growth Hormone Market. Biopharmaceutical
companies invest heavily in research and development to create innovative
growth hormone therapies. These efforts involve the discovery and development
of new treatment modalities, formulations, and delivery methods, aimed at
improving the effectiveness and safety of growth hormone products. Ongoing
R&D activities are at the core of biopharmaceutical innovation in this
market. Biopharmaceutical innovation has led to the development of recombinant
and synthetic growth hormones, which have become standard treatment options.
These engineered hormones closely mimic the body's natural growth hormone,
resulting in safer and more efficacious treatments. The availability of these
advanced hormone formulations has significantly improved patient outcomes and
contributed to market growth.
Biopharmaceutical
companies continually introduce new and improved growth hormone therapies to
the market. These innovations offer healthcare providers and patients a broader
range of therapeutic options to choose from, tailored to specific needs and preferences.
Such enhancements expand the market's product portfolio and cater to diverse
patient populations. Innovations in drug delivery systems have enhanced patient
convenience and compliance. For instance, long-acting growth hormone
formulations have been developed, reducing the frequency of administration,
which is particularly beneficial for patients. These systems increase patient
adherence to treatment plans, further fueling market growth. Ongoing
biopharmaceutical innovation focuses on enhancing the safety and efficacy of
growth hormone therapies. New formulations are designed to minimize side
effects and reduce the potential for adverse reactions. Improved safety
profiles are attractive to healthcare providers and patients alike, increasing
the adoption of these therapies.
Regulatory Approvals
Regulatory
approvals play a pivotal role as a market driver for the growth of the North
America Human Growth Hormone Market. Regulatory
approvals by government health agencies and relevant authorities instill
credibility and trust in the products and therapies within the Human Growth
Hormone Market. When a growth hormone product receives regulatory approval, it
signifies that it has met stringent safety and efficacy standards, providing
assurance to healthcare providers and patients. This credibility encourages
healthcare professionals to prescribe approved treatments, and patients to
trust and choose them. Regulatory approvals are prerequisites for market entry
and commercialization. Products that have received the green light from
regulatory authorities can be legally marketed and distributed for medical use.
This paves the way for pharmaceutical companies to introduce their products to
a wider patient base, ensuring broader market access.
Regulatory
approvals lead to increased adoption of approved growth hormone therapies.
Healthcare providers are more likely to recommend treatments that have
undergone thorough evaluation and received official endorsements. Patients are
also more inclined to accept these therapies, as they believe in the safety and
efficacy of approved products. Regulatory approvals often expand the target
patient population for a particular growth hormone therapy. For example, an
approval for a pediatric growth hormone therapy may later be extended to
include adults with hormone deficiencies, broadening the market's reach and
revenue potential. Products that receive regulatory approval gain a competitive
advantage in the market. They stand out as trusted and legitimate treatments,
positioning themselves ahead of non-approved or generic alternatives. This
competitive edge can drive market share and growth.
Research in Rare Conditions
Research
in rare conditions is a significant market driver for the growth of the North
America Human Growth Hormone Market. Ongoing
research efforts have deepened our understanding of rare conditions related to
growth hormone deficiencies. This includes conditions such as Turner syndrome,
Prader-Willi syndrome, and other pediatric growth disorders. As research
advances, the medical community gains valuable insights into the causes,
symptoms, and treatments of these conditions. The research conducted in rare
conditions has led to the development of tailored treatment approaches. Growth
hormone therapies designed specifically for these rare conditions consider the
unique needs and challenges that patients with such conditions face. These
tailored therapies aim to optimize treatment outcomes, improving the quality of
life for affected individuals.
Research
in rare conditions expands the potential patient population for growth hormone
therapies. While these conditions individually affect a relatively small number
of people, the cumulative impact is substantial. As tailored therapies are
developed and researched, they become available to patients who may have
previously had limited or no treatment options. Many growth hormone therapies
developed for rare conditions receive orphan drug designations from regulatory
authorities. These designations provide certain incentives to pharmaceutical
companies, such as extended market exclusivity and financial incentives, to
develop treatments for rare diseases. This encourages research and innovation
in this area. Pharmaceutical companies increasingly recognize the market growth
opportunities in rare conditions. While each rare condition may have a small
patient population, the combined market potential across various rare
conditions is substantial. Companies invest in research and development to tap
into these underserved markets and offer specialized treatments.
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Key Market Challenges
High Treatment Costs
Growth
hormone therapies are often costly, and the expenses can be a significant
burden on patients and healthcare systems. The high cost of therapy can limit
accessibility for many patients, particularly those without adequate insurance
coverage.
Healthcare
Budget Constraints: In many countries, healthcare budgets are limited, and the
cost-effectiveness of growth hormone therapies is a consideration for
policymakers and healthcare providers. Cost constraints may lead to restricted
access to these therapies, potentially slowing down market growth.
Challenges
in Emerging Markets: In emerging economies, affordability is a considerable
concern. The cost of growth hormone therapies can be prohibitively high for a
large portion of the population, limiting market expansion in these regions.
Regulatory Hurdles
The
process of obtaining regulatory approvals for new growth hormone therapies can
be lengthy and costly. Stringent requirements by regulatory authorities demand
extensive clinical data, leading to prolonged development timelines.
While
orphan drug designation can provide incentives for developing therapies for
rare conditions, it also poses challenges. Meeting orphan drug designation
criteria may limit the patient population that can benefit from the therapy,
affecting market potential. Variations in regulatory processes and requirements
across countries can create barriers for market entry and expansion,
particularly for smaller biopharmaceutical companies.
Limited Awareness and
Diagnosis
Underdiagnosis
of Growth Hormone Deficiencies: Despite awareness efforts, there are still
challenges in diagnosing growth hormone deficiencies. This underdiagnosis can
lead to missed treatment opportunities, limiting the patient pool and market
growth. The effectiveness of awareness programs can vary by region. In some
areas, there may be limited access to educational initiatives, resulting in
lower awareness levels and, subsequently, delayed diagnosis and treatment.
Stigma
and misconceptions surrounding growth hormone therapies can impede patient
willingness to seek treatment. Concerns about side effects or perceived health
risks may deter some individuals from pursuing therapy, affecting market
growth.
Key Market Trends
Biotechnology Advancements
One
significant trend in the market is the continued advancement of recombinant
technologies. Recombinant DNA techniques enable the production of synthetic
growth hormones that closely mimic the body's natural growth hormone. These
biotechnological advances have led to safer and more effective treatments,
improving patient outcomes.
Biotechnology
has enabled the development of targeted growth hormone therapies for specific
patient populations. This trend includes the creation of treatments tailored
for conditions like Turner syndrome, Prader-Willi syndrome, and pediatric
growth disorders. Targeted therapies enhance the precision and effectiveness of
treatments, meeting the unique needs of these populations.
Telemedicine and Remote
Monitoring
The
COVID-19 pandemic accelerated the adoption of telemedicine in healthcare,
including the management of growth hormone deficiencies. Patients can now
consult with healthcare providers remotely, which enhances access to
specialized care, particularly in regions with limited healthcare
infrastructure. Telemedicine offers convenience and the potential for increased
diagnosis and treatment rates.
Remote
monitoring technology, such as wearable devices, is increasingly used to track
patient response to growth hormone therapies. These devices allow healthcare
providers to remotely assess treatment compliance and effectiveness. This trend
aids in personalized treatment adjustments and data-driven decision-making.
Orphan Drug Development
Pharmaceutical
companies are increasingly focusing on orphan drug development for rare genetic
conditions associated with growth hormone deficiencies. These conditions, such
as Turner syndrome and Prader-Willi syndrome, may individually have a small
patient population, but collectively represent a substantial market. The
development of specialized treatments for these rare conditions is a growing
trend in the market.
Regulatory
authorities grant orphan drug designation to therapies developed for rare
diseases. This designation provides certain incentives to pharmaceutical
companies, such as extended market exclusivity and financial support,
encouraging the development of treatments for rare conditions. This trend
promotes innovation in addressing unmet medical needs.
Segmental Insights
Product Insights
Based
on the category of Product, the Others segment emerged as the dominant player
in the North America market for Human Growth Hormone in 2022. This particular
segment is anticipated to maintain a steady growth rate throughout the forecast
period. Other segments within the market encompass short-acting and
intermediate-acting growth hormones. The short-acting and intermediate-acting
segment is poised for significant traction in the coming years due to the
rising incidence of insufficiency and the availability of diverse products such
as Genotropin (Pfizer Inc.), Humatrope (Eli Lilly & Co.), Saizen (Merck
& Co. Inc.), and Norditropin (Novo Nordisk A/S), among others.
Recent
product launches and the increased adoption of short-acting preparations, which
tend to have fewer side effects, are additional factors contributing to the
expansion of this segment. On the other hand, the long-acting segment is
expected to register the fastest growth rate during the forecast period. This
growth is driven by advantages like reduced administration frequency, enhanced
patient compliance, and convenience.
The
robust investigational pipeline and recent product launches are fueling the
growth of this segment. For instance, in January 2022, Ascendis Pharma A/S
announced European Commission approval for the marketing authorization of
SKYTROFA, aimed at treating growth failure in children and adolescents aged 3
to 18. These factors are expected to drive the growth of this segment.
Application Insight
Based
on the category of Application, the growth hormone deficiency segment emerged
as the dominant player in the North America market for Human Growth Hormone in
2022. 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.
Distribution Channel Insights
The
hospital pharmacy segment is projected to experience rapid growth during the
forecast period. The growing incidence of the ailment, more frequent hospital
visits, and advantageous reimbursement policies are fueling the utilization of
this sector. Additionally, patients are increasingly favoring recombinant and
synthetic HGH, which is easily accessible in hospital pharmacies. These
elements are contributing to the expansion and utilization of this field. The
online pharmacy category is poised for swift growth in the forthcoming years.
These factors collectively contribute to the growth of this segment.
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Regional Insights
United
States emerged as the dominant player in the North America Human Growth Hormone
market in 2022, holding the largest market share in terms of value. 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.
Recent Developments
- In
October 2023 - Novo Nordisk to acquire ocedurenone for uncontrolled
hypertension from KBP Biosciences.
- 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.
- In
September 2023, European Commission approves Pfizer's LITFULO™ for adolescents
and adults with severe alopecia areata.
Key Market Players
- 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.
|
By
Product
|
By
Application
|
By
Distribution Channel
|
By
Region
|
|
|
- Growth
Hormone (GH) Deficiency
- Turner
Syndrome
- Idiopathic
Short Stature
- Prader-Willi
Syndrome
- Small
for Gestational Age
- Other
|
- Hospital
Pharmacy
- Retail
Pharmacy
- Online
Pharmacy
- Specialty
Pharmacy
|
- United
States
- Canada
- Mexico
|
Report Scope:
In this report, the North America Human Growth
Hormone Market has been segmented into the following categories, in addition to
the industry trends which have also been detailed below:
- North America Human Growth Hormone Market, By Product:
o Long Acting
o Others
- North America Human Growth Hormone Market, By Application:
o Growth Hormone (GH) Deficiency
o Turner Syndrome
o Idiopathic Short Stature
o Prader-Willi Syndrome
o Small for Gestational Age
o Other
- North America Human Growth Hormone Market, By Distribution Channel:
o Hospital Pharmacy
o Retail Pharmacy
o Online Pharmacy
o Specialty Pharmacy
- North America Human Growth Hormone Market, By
Region:
o United States
o Canada
o Mexico
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the North
America Human Growth Hormone Market.
Available Customizations:
North America Human Growth Hormone market report
with the given market data, Tech Sci Research offers customizations according
to a company's specific needs. The following customization options are
available for the report:
Company Information
- Detailed analysis and profiling of additional
market players (up to five).
North America Human Growth Hormone Market is an
upcoming report to be released soon. If you wish an early delivery of this
report or want to confirm the date of release, please contact us at [email protected]