Growth hormone deficiency Market: Current Analysis and Forecast (2022-2028)

Growth hormone deficiency Market: Current Analysis and Forecast (2022-2028)

Human growth hormone (HGH), produced by the pituitary gland, spurs growth in children and adolescents. It also helps to regulate body composition, body fluids, muscle and bone growth, sugar and fat metabolism, and possibly heart function.The rising prevalence of growth hormone deficiency syndromes is a major factor that drives the market for HGH hormones. The rising awareness about the severeness of the drug and increasing early diagnosis are responsible for the rising demand for the growth hormone. For instance, as per Medline, Turner syndrome is a chromosomal condition that affects development in females. The most common feature of Turner syndrome is short stature, which becomes evident by about age 5. This condition occurs in about 1 in 2,500 newborn girls worldwide.

Thus, the global growth hormone deficiency market is projected to expand significantly with a CAGR of 7% owing to surge in the incidences of growth hormone deficiency and other growth disorders. For instance, according to data provided by the American Academy of Pediatrics, growth hormone deficiency (GDH) affects less than one in 3,000 to one in 10,000 children in the U.S. Another major factor influencing the growth rate of growth hormone deficiency market is the rising healthcare expenditure which helps in improving its infrastructure. Apart from this, various government organizations aims to improve the healthcare infrastructure by increasing funding and this will further influence the market dynamics.

• Based on the Product, the market is categorized into powder and solvent. The powder segment grabbed major market share in the growth hormone drug market in 2020. This is mainly due to the stability of the powdered under extreme temperatures. Furthermore, the higher shelf life of the drug category is attributed to a significant market share of the segment in the growth hormone deficiency market.
• Based on the application, the market is categorized into growth hormone deficiency, idiopathic short stature, turner syndrome, small for gestational age, Prader-Willi syndrome, and others. The growth hormone deficiency category is anticipated to witness significant growth during the forecast period. This is mainly due to the rising incidences of growth hormone deficiency. For instance, as per Medline, The incidence of isolated growth hormone deficiency is estimated to be 1 in 4,000 to 10,000 individuals worldwide.
• Based on the distribution channel, the market is categorized into retail pharmacies, hospital pharmacies, and online pharmacies. The online pharmacies segment is expected to grow with high CAGR rates during the forecast period. This is mainly due to the adoption of the rapidly IoTs in the healthcare sector and increasing internet penetration enables significant segmental growth of the segment during the forecast period. Around 66% of the world’s population is using the internet which accounted for 5.25 billion which is expected to grow in the future.
• For a better understanding of the market adoption of growth hormone deficiency, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, and Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. North America constitutes a significant market for the growth hormone deficiency industry. The presence of sophisticated healthcare infrastructure and the intensive focus on research & development is responsible for the significant market share of the region in the growth hormone deficiency market. For instance, as per the National Science Board, the United States spent $607.5 billion in R&D activity, with $101.1 billion (17%) of annual R&D spending classified as basic research
• Some of the major players operating in the market are Novo Nordisk A/S, Pfizer, Inc, Eli Lilly and Company, Novartis AG, Merck KGaA, Roche, Ferring Pharmaceuticals, Teva Pharmaceutical Industries, Ltd, Ipsen, and Cipla Inc. among others. Several M&As along with partnerships have been undertaken by these players to develop a new and advanced growth hormone deficiency market.