Human Growth Hormone Market is expected to reach USD 5,800 Million by 2030 at 7.60% CAGR during the forecast period 2022-2030. The market for growth hormone is set to reach a high value in the coming years. As per growth hormone market analysts, the global market is anticipated to witness growth owing to the factors such as the surge in GH deficiency cases to be a key growth booster as well as the rising GH deficiency disorders worldwide. However, the market will face challenges and restraints due to the side effects of GH drugs to weaken demand and the high costs of GH therapies during the forecast period.
The surge in FDA approvals in the growth hormone market is set to play a key role in determining the growth potential during years. Analysts have also studied the market to understand potential threats and challenges the growth hormone market companies could face. Although the market is poised to grow at a fast pace across route of administration, brand, application, and distribution channels segments, factors such as side effects like joint pain, fluid retention and muscle pain could slow down the growth hormone market's growth worldwide.
A prominent growth hormone market trend can be the rising availability of artificial growth hormones, in addition to the extensive RD activities that benefit the recombinant human growth hormone market.
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The market has been segmented into a route of administration, brand, application, and distribution channels. Based on the segment which is route of administration, the market is categorized on the basis of intramuscular, intravenous, oral, and subcutaneous. The global market for growth hormone is further segmented based on brand into Genotropin, Humatrope, Norditropin, Omnitrope, Saizen, and others. Furthermore, the market, on the basis of application is segmented into growth hormone deficiency, idiopathic, prader-willi syndrome, short stature, small for gestational age, turner syndrome, others. Based on the segment which is distribution channels, the market is categorized on the basis of clinics, e-commerce websites, hospital pharmacies, and retail pharmacies.
The market research report covers all the aspects of the market based on the segmental analysis of these route of administration, brand, application, and distribution channels segments. Analysts have also studied the global growth hormone market's regional markets spread across many continents and countries. The route of administration, brand, application, and distribution channels segments along with their sub-segments have been analyzed and companies functioning in the growth hormone market across these segments are profiled and analyzed based on input and feedback from market based decision makers as well as primary and secondary sources. The market research report presents analysis based information for companies functioning in the growth hormone market.
Expensive GH therapy deterring patients may hinder the market growth. The market research report suggests that companies in the growth hormone market could be supported by the use of growth hormones for conditions like Turner syndrome as well as the escalation in growth hormone deficiency disorders during the forecast period. The market is set to register growth at a high CAGR owing to these key factors. The market is spread across North America, Europe, Asia-Pacific, and other parts of the world. The global market research report reveals that APAC, North America, and Europe regional growth hormone markets will dominate the global market for growth hormone during the forecast period 2018 to 2023. As per market analysts, the market is set to witness tremendous growth across growth hormone’s application, hospital pharmacy distribution channel, and subcutaneous route of administration segments in North America which covers growth hormone markets across the United States, Canada, Mexico and several other regional markets. Companies active in the growth hormone market are also analyzed and studied in the market research report.
The market for Europe covers smaller market segments of Germany, Italy, France, and the United Kingdom. Additionally, the market research report covers the Asia-Pacific region covering growth hormone markets from India, China, Japan, Australia, and others. The growth hormone market is also spread across the rest of the world. The market report covers all such regions including the Middle East, Africa, Brazil, and others.
Growth hormone has seen increased demand over the years, due to more advances in the growth hormone therapy and the surge in FDA approvals. Companies functioning in the global growth hormone market are also being challenged due to side effects like fluid retention and muscle pain and development of novel drugs. Mergers and acquisitions by growth hormone market companies are anticipated to help the market during the forecast period 2018 to 2023. As the market is set to register a high CAGR of 7.50% and is also anticipated to reach a greater value over the years, the report highlights key areas companies need to focus on. The report suggests that the market will see a healthy growth in the long run till 2023. Based on SWOT analysis and growth hormone market’s analysis based on Porters’ Five Force Model presented in the market report. Mergers and acquisitions by growth hormone market companies are anticipated to help the market during the forecast period 2018 to 2023.
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