Growth Hormone Deficiency Market Overview
Growth Hormone Deficiency Market is expected to register a CAGR of 4.20% during the assessment period of 2020 to 2027, to reach USD 5.24 billion by 2027.
The increasing number of people suffering from Growth Hormone Deficiency (GHD), rising awareness about the effectiveness of growth hormone, clinical trials focused on the safety and efficacy of GHD, and changing lifestyles, as well as the rising prevalence of genetic disorders, are expected to drive the growth of the Growth Hormone Deficiency Market. Factors such as increased R&D expenditure by pharmaceutical and biotechnology firms are propelling the worldwide industry forward.
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The rising prevalence of illnesses including cancer, cardiovascular disease, and infections, as well as continuous technical developments, are likely to propel this market forward. Growth hormone deficiency diseases are on the rise, as is the use of growth hormone to slow down the aging process. Furthermore, the human growth hormone market is driven by increased knowledge of the treatment method and an increase in neuropsychiatric patients. The market is expected to rise because to the launch of new treatments, a strong pipeline, and increased R&D spending.
However, the high cost of therapy and the growing use of counterfeit goods for treatment are limiting market development. The growth hormone deficiency market, on the other hand, has profitable prospects due to the collaboration of big companies with minor players, as well as the rise in innovation indicated by significant players.
Growth Hormone Deficiency Market Segmental Analysis
Brand, Application, Distribution Channel, and Route of Administration are the segments that make up the Global Growth Hormone Deficiency Market.
Norditropin, Genotropin, Humatrope, Saizen, Omnitrope, and more brands are included in the Global Growth Hormone Deficiency Market
Pediatric growth hormone deficiency, Turner syndrome, Idiopathic Short Stature (ISS), short for gestational age, adult growth hormone deficiency, Prader-Willi disease, and others make up the worldwide growth hormone deficiency market.
The Global Growth Hormone Market is divided into three categories based on the mode of administration: subcutaneous, intravenous, and intramuscular.
The Global Growth Hormone Market is divided into hospital pharmacies, retail pharmacies, internet pharmacies, and specialty pharmacies based on the distribution channel.
Growth Hormone Deficiency Market Regional Overview
The Global Growth Hormone Deficiency Market has been segmented into the Americas, Europe, Asia-Pacific, and the Middle East and Africa, according to geography.
North America is divided into two parts: the United States and Canada. The Americas led the market in 2019 and are expected to do so again throughout the assessment period. This is due to reasons such as the rising incidence of growth hormone insufficiency, the hormone’s expanding uses, and growing knowledge of the hormone’s efficacy in people of short height.
Germany, the United Kingdom, France, Italy, and Spain are all part of Western Europe. The European market for growth hormone insufficiency is projected to be the second-largest. The increased incidences of growth hormone deficiencies, increasing desire for growth hormones in the treatment of Idiopathic Short Stature (ISS), and rising government investment for the healthcare sector are all contributing to market expansion in this area.
Because of rising healthcare expenditures and a huge patient pool, Asia-Pacific is expected to be the fastest-growing market. The industry is projected to expand as market participants in the region increase their investments in response to rising demand
Increased healthcare spending, increased expenditures by key market participants, and an expanding patient pool are all contributing to regional market expansion in the Middle East and Africa. Because of rising monetary status and more internet shopping, the regional market is anticipated to develop progressively. Because of the endemicity of some infectious disease-causing strains and the rise in antibiotic resistance, researchers are focusing more on preventing transmission.
Growth Hormone Deficiency Market Competitive Dynamics
The notable players are Novo Nordisk A/S, Eli Lily and Company, Novartis AG, Merck KGaA, and Pfizer.
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