Global Human
Growth Hormone (HGH) Market is foretold to
provide a robust support for industry players to lay a solid foundation for
their business growth. It includes a comprehensive evaluation of the industry
growth status and risk. In addition, it provides detail market variables,
trends, key opportunities, new entrants & competitors.
Human Growth Hormone (HGH) Market
study offers detail overview of industry with all the requisite data to support
tactical business decisions and come up with strategic growth plans. This study
also proposes a comprehensive insight into the development policies and plans
in addition to manufacturing processes and cost structures.
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Global Human Growth Hormone
(HGH) Market is anticipated to witness an exponential growth in the forecast
period. Human growth hormone is mainly responsible for regeneration and growth
among humans and stimulates cell reproduction. Factors such as presence of a
large pool of patients, technological advancements, demand for better-quality
and cost-effective human growth hormones, increasing compliance for human
growth hormone drugs and massive unexplored markets in the developing
economies, such as China and India.
Furthermore, advanced
research and development services, and new drug developments by the key
companies, increasing occurrences of human growth hormone deficiency diseases,
and growing aged population are likely to propel the human growth hormone
industry in the forthcoming period. On the other hand, the high cost of
treatment, strict governing approvals, and adverse effects associated with the
usage of synthetic human growth hormones are anticipated to hinder human growth
hormone drugs market growth in future.
However, increasing
acceptance of growth hormone drugs, as anti-aging drug and the rising
popularity of human growth hormone drugs is likely to create lucrative
opportunities for the market. Human growth hormone (HGH) industry is
anticipated to expand at a CAGR of 7.5% in the upcoming period as the scope,
product types, and its applications are increasing across the globe.
Human growth hormone market
could be explored by route administration, application, distribution channel,
and geography. Based on the route administration, the HGH industry could span
Intramuscular, Intravenous, Oral, and Subcutaneous. The “Subcutaneous” segment
accounted for a prominent share in the market. It is likely to witness
substantial growth in the years to come. The key factors that could be
attributed to the growth of the market include the preference for the subcutaneous
technique is rising as it leads to the important growth in development rates
and low occurrence of antibody progress. Furthermore, the subcutaneous route is
extremely chosen for chronic growth hormone therapy.
The key applications that could
be explored in the HGH market include Turner Syndrome, Growth Hormone
Deficiency, Prader-Willi Syndrome, and Idiopathic Short Stature. The “Growth
Hormone Deficiency” segment accounted for a prominent share in the market. The
key factor that could be attributed to the growth of the market includes an
increase in the growth hormone deficiency.
The human growth hormone
(HGH) market could be explored based on distribution channel as Retail
Pharmacy, Hospital Pharmacy, Online Pharmacy, and Clinics. The “Hospital
Pharmacy” segment accounted for a prominent share in the market. The key
factors that could be attributed to the growth of the market include a lot of
hospital pharmacies are allocating drugs and the high cost of human growth
hormone drugs.
North America is a leading
region in the market. It is likely to maintain its dominance in the forecast
period owing to factors, such as affordability of hormonal therapy, high
healthcare spending, and commercialization of growth hormone by Drugs
Administration (FDA) and US Food since last few years, several companies are
investing in the R&D of the recombinant growth hormone, growing disposable
income, local presence of market companies, and technological advancement.
North America is followed by Asia-Pacific region owing to investment by key
players, increasing healthcare spending, large patient pool and increasing
consciousness about the therapy for short stature.
Key players operating in
the human growth hormone (HGH) industry include F. Hoffmann-La Roche, EMD
Serono Inc., Genentech Inc., AnkeBio Co. Ltd, Ferring BV, Lilly USA, Ipsen,
Novo Nordisk A/S, LLC, Teva Pharmaceutical Industries Ltd, and Pfizer Inc. The
leading companies are taking up partnerships, mergers and acquisitions, and
joint ventures in order to boost the inorganic growth of the industry.
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