Market Research Future Insights
The growth hormone market size is anticipated to reach USD 5,800 million by 2022-2030, growing at a 7.60% CAGR. The market is anticipated to be strongly influenced by elements such as investments made by market participants, the presence of a solid pipeline, extensive R&D activities, a strong product portfolio, and rising government efforts. The increase in activities being taken by public and private organizations to increase public awareness of GH deficiencies and how growth hormone therapy could result in considerable market growth has strengthened the global market.
The market for human growth hormones is anticipated to be driven primarily by a strong product pipeline and considerable R&D initiatives for the development of innovative growth hormone therapies. For instance, Novo Nordisk reported Phase II clinical trial data of Somapacitan, an experimental GH medication recommended for the treatment of pediatric growth hormone insufficiency, in September 2018. The increasing healthcare spending and rise in disposable income have been the key drivers of this Growth hormone market.
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The Americas have the highest levels of HGH production for commercial use, which increases their chances of taking the lead in the coming years. Supportive reimbursement laws, a well-developed healthcare infrastructure, major government efforts, and a high degree of public awareness are some of the main growth-enabling elements. The American market also benefits from the increasing availability of novel pharmaceuticals, which is supported by the existence of a sizable number of prominent companies. The three main manufacturers of human growth hormone in the US are Eli Lilly and Company, Genentech Inc., and Pfizer Inc., which each offer a wide range of cutting-edge treatments. The robust growth hormone market in the US is a result of these businesses.
Both Eastern and Western Europe make up the European human growth hormone (HGH) market. Germany, France, the UK, Spain, and Italy are among the potential markets in Western Europe, and these nations will help Europe clinch the second spot in the next few years.
Throughout the forecast period, Asia Pacific is anticipated to have a considerable CAGR. By obtaining clearance and launching innovative products, a large market share in potential Asia Pacific nations like China and Japan is a goal for major firms.
The growth hormone market is ideally segmented into 3 divisions such as by brands, by application, by route of administration, and by distribution channel. The division by brand comprises Norditropin, Genotropin, Humatrope, Saizen, and Omnitrope, based divisions. Whereas application based division is further divided into Growth Hormone Deficiency, Idiopathic, Short Stature, Small For Gestational Age, Turner Syndrome, and Prader Willi Syndrome, and the route of administration is divided into Subcutaneous, Intramuscular, Intravenous, and Oral categories. Distribution channel also comprises Hospital Pharmacies, Retail Pharmacies, Clinics, and E-Commerce Websites categories.
Merck KGaA,Novartis AG,GeneScience Pharmaceuticals Co. Ltd,Ipsen S.A.,Eli Lilly and Company,Novo Nordisk A/S,Zhongshan Hygene Biopharm Co. Ltd,Lifetech Labs,Biopartners GmbH,Genentech Inc.
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