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(USA, NY, New York City) The growth of the GHD market is being driven by the factors such as a rise in growth hormone used to prevent aging, an increase in neuropsychiatric cases, an increase in growth hormone deficiency disorders, and the rise in awareness of the treatment procedure. However, the fluctuations in drug productivity in pharmaceutical companies and the high cost of the treatment may have an adverse impact on the market growth.
Growth hormone deficiency also called pituitary dwarfism or simply dwarfism, refers to a condition resulting from inadequate quantities of growth hormone in the body. Kids with GHD have weirdly short stature with usual body proportions. According to the MRFR reports, the global market for growth hormone deficiency is projected to acquire a market size of USD 5,243.3 Million by 2027 with a healthy CAGR of 4.20%.
The global market for growth hormone deficiency is flooded with a wide number of players spread worldwide. The players in the market are focusing more and more on the implementation of new strategies and policies such as collaborations, expansions, acquisitions, joint ventures, and a rising number of FDA approvals. The list of leading players in the growth hormone deficiency market includes companies such as Pfizer, Merck KGaA, Novartis AG, Eli Lily and Company, Novo Nordisk A/S, and several others.
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The global growth hormone deficiency market is divided into several segments based on brand, application, distribution channel, route of administration, and region.
By brand, the market is split into Omnitrope, Saizen, Humatrope, Genotropin, Norditropin, and others.
By application, the growth hormone deficiency market is divided into prader willi syndrome, adult growth hormone deficiency, turner syndrome, small for gestational age, idiopathic short stature, and pediatric growth hormone deficiency.
Based on the route of administration, the market is split into intravenous, intramuscular, and subcutaneous.
The market is split into E-commerce, clinics, retail pharmacies, and hospital pharmacies by distribution channel.
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The Global Growth Hormone Deficiency Market has been segmented into the Americas, Europe, Asia-Pacific, and the Middle East and Africa, according to region.
North America and Latin America are the two continents that make up the Americas. 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 variables such as the rising prevalence of growth hormone insufficiency, the hormone’s expanding applications, and growing knowledge of the hormone’s usefulness in people of short height. Increased research and development activities, advantageous reimbursement policies, established healthcare infrastructure, considerable government initiatives, and increased healthcare awareness are among the primary drivers driving market expansion in the United States.
Eastern Europe and Western Europe make up the European growth hormone deficiency market. Germany, the United Kingdom, France, Italy, and Spain are all part of Western Europe. The European market for growth hormone insufficiency is predicted 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 expenditure for the healthcare sector are all contributing to market expansion in this region.
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