The players in the Global Human Growth Hormones Market are aiming towards business expansion by increasing the research and development expenditure for introducing highly effective products in the global market. Increasing focus on strategic mergers and acquisitions is aiding the players in sustaining the competitive environment of the global human growth hormones market.
The prominent players profiled by MRFR that are operating in the global human growth hormones market are Anhui Anke Biotechnology Co. Ltd., Zhongshan HygeneBiopharm Co. Ltd., Novo Nordisk A/S, Ipsen S.A., Merck KGaA, Genetech Inc., Pfizer Inc., Eli Lilly and Company, Novartis AG, Lifetech Labs, Biopartners GmbH, and GeneScience Pharmaceuticals Co. Ltd.
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Market Drivers
Changing lifestyle and dietary habits are triggering various medical conditions among the population of various regions. Growth hormone deficiency is one such condition that is caused due to malfunctioning of endocrine glands. Market Research Future (MRFR) has published a report stating that the global human growth hormones market is marked to expand significantly at a significant growth rate of 7.50% during the assessment period of 2018-2023.
Over the recent years, the awareness regarding the disorders caused due to malfunctioning of endocrine glands has increased significantly. Such endocrine disorders are associated with the growth hormone deficiency which can be cured using synthesized growth hormones. Increasing prevalence of medical conditions such as Turner syndrome, growth hormone deficiency, idiopathic short stature and others are inducing high demand for medically prepared growth hormones, leading to the expansion of the global human growth hormones market. Development of high-quality healthcare solutions that ensure optimum results and increased healthcare expenditure by the population in developed and developing regions are some other factors that are propelling the growth of the global human growth hormones market. However, lack of awareness and low penetration of advanced healthcare solutions are restraining the growth of the global human growth hormone market during the forecast period.
Segments:
The global human growth hormones market has been segmented on the basis of brand, application, route of administration and distribution channel.
Based on brand, the human growth hormones market has been segmented into norditropin, genotropin, humatrope, sainzen, omnitrope and others. Based on application, the human growth hormones market has been segmented into growth hormones deficiency, idiopathic short stature, small for gestational age, turner syndrome, Prader-Will syndrome and others.
Based on route of administration, the human growth hormones market has been segmented into subcutaneous, intramuscular, intravenous and oral. Based on distribution channel, the human growth hormones market has been segmented into hospital pharmacies, retail pharmacies, clinics and e-commerce websites.
Regional Analysis:
Geographically, the global human growth hormones market has been segmented into the Americas, Europe, Asia Pacific, and the Middle East and Africa.
The Americas commanded for a major share of over 49.18% in the global human growth hormones market owing to the primary driving factors such as rise in prevalence of individuals with growth hormone deficiency, increasing awareness regarding the effects of growth hormones among the consumer base and high healthcare expenditure by the population in this region.
The human growth hormones market in the Europe region is projecting to expand at a noteworthy growth rate during the assessment period owing to the increased research activities in the pharmaceutical and biotechnological industries in this region, for the development of high-quality products that provide optimum result. Increased healthcare expenditure due to rise in disposable income and increasing awareness are majorly driving the human growth hormones market in the Asia Pacific region. Whereas low penetration of advanced healthcare solutions and lack of awareness are some of the factors that are restraining the growth of the human growth hormone market in the Middle East and Africa region.
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