According to a report published by Grand View Research, Inc.; the human growth hormone (hGH) market is likely to reach a valuation of around USD 7.1 billion by 2025.
Strong pipeline, and growing adoption and affordability of hormone therapy in the developing countries can propel the market during the forecast period (2014 to 2025).
Increasing cases of pituitary dysfunction, wide range of growth hormone (GH) application and growing awareness regarding effectiveness of GH in short stature are the important factor to drive the market growth in the coming years. The hGH therapy is highly recommended for advanced age symptoms. The hGH is anabolic, since it helps to accelerate protein synthesis and breakdown of fat. Therefore, athletes involved in sport or strength demanding activities are expected to boost the use of hGH due to its anabolic effects. Now a day, it’s a very common practice among the sportspersons to use combination of GH and anabolic steroids for the benefits. The adult growth hormone deficiency (AGHD) is increasing due to many conditions like pituitary tumors, neuromuscular, neuropsychiatric-cognitive, cardiovascular, metabolic abnormalities, and skeletal abnormalities. Hormone growth therapy is being effective in most of these conditions. Moreover, growing demand for hGH due to increasing growth hormone deficiency diseases and technological developments such as recombinant DNA technology is expected to bolster the market growth in the coming years. The use of growth hormone therapy is permitted in several countries for conditions including chronic renal insufficiency, Down syndrome, Noonan syndrome, skeletal dysplasia, SHOX gene haploinsufficiency, and Creutzfeldt-Jakob disease. This will also have expected to drive the market growth.
Full Research Report On Human Growth Hormone (hGH) Market Analysis:
Worldwide human growth hormone (hGH) market can be segmented on the basis of application and region.
As per application, the market can be bifurcated into growth hormone deficiency, idiopathic short stature, turner syndrome, small for gestational age, prader-willi syndrome, and others. Growth hormone deficiency segment captured the major share in 2016 and likely to maintain same trend during the forecast period.
In 2016, turner syndrome segment estimated for the second largest share owing to their capability to treat late physical and sexual development. The segment captured the largest market share due to existence of large number of patient pool and effectivity of growth hormone for treating the turner’s syndrome. The U.S. FDA permitted hGH as standard treatment for turner syndrome in 1996.
Geographically, the market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.
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In 2016, North America estimated for the largest market share close to 48.0%. and likely to retain its position over the forecast period. Factors such strong pipeline of hGH, availability of hormonal therapy at affordable price, availability of established healthcare infrastructure, commercialization of GH by the U.S.FDA, and existence of major market players can boost the market growth in the region.
Asia Pacific is likely to show significant growth during the forecast period. Factors such as growing expenditure for healthcare, growing investments by companies, and presence of large patient pool, and growing awareness regarding the therapy for short stature can spur the market growth in the region. The demand for GH is increasing in the developing countries. The countries such as Australia, Japan, India, and China, are the leading contributors in the region. In 2016, Japan estimated for the largest share in the region owing to high cost of the GH and existence of local market participants.
Prominent players operating in the market include Genentech, Inc., Novo Nordisk, Pfizer, Inc.; Merck & Co., Inc.; Eli Lilly and Company, and Pfizer, Inc.
Technological progressions such as development of recombinant human growth hormone (rhGH) by the market participants is also expected to fuel the market growth in the coming years. Various companies are making high investments in research and development of long-acting therapy with less side effects. In addition, companies ate growing their expenditure for expanding their manufacturing capacities. Players are also following strategies like partnerships and collaborations to increase share in the market.
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