Human Growth Hormone Market Size to Reach $14,498.3 Million by 2030, says P&S Intelligence

Jennifer E. Engen

NEW YORK , May 10, 2022 /PRNewswire/ — The global human growth hormone market is set to reach $14,498.3 million by 2030 from $4,399.4 million in 2021, growing at a CAGR of 14.2% from 2021 to 2030, according to the market research report published by P&S Intelligence. This peptide hormone is produced by the pituitary gland, and it promotes development in teenagers and children. In addition to boosting growth, it influences protein metabolism, fat metabolism, and glucose metabolism.

In 2021, North America held a market share of over 40%. The rising elderly population, as well as the high prevalence of illnesses such as Turner syndrome, Noonan syndrome, and short bowel syndrome, are all linked to the market growth. Moreover, factors such as favorable reimbursement policies, public awareness, major government activities, and the region’s established healthcare ecosystem are responsible for the growing sale of HGH medications in the continent.

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Key Findings of Human Growth Hormone Market Report

  • The U.S. dominated the worldwide human growth hormone market in 2021. The country’s considerable market contribution is due to its high R&D spending on hormonal diseases and high rate of advanced technology adoption.
  • In 2021, hospital pharmacies held over 45% share in the market. This was owing to the popularity of synthetic or recombinant versions of this hormone, as well as the simplicity with which it may be obtained from hospital pharmacies.
  • LAGHs will grow at a CAGR of over 30% in the forecast period. Daily recombinant HGH injections, which are allowed in many countries, can be painful and unnerving, especially for children, which is why the usage of long-acting growth hormones is growing.
  • India and China are likely to become major opportunistic countries for the healthcare sector in the coming years due to their large population. As a result, pharmaceutical corporations, including those offering HGH drugs, are investing heavily in these nations.
  • Many drugs are designed and manufactured using recombinant DNA technology. These drugs are largely used as a growth hormone replacement treatment in adults and children who are deficient in it.
  • In addition, a rise in the number of approvals for breakthrough therapies is projected to fuel the human growth hormone market growth. Pfizer and OPKO Health Inc., for example, received the FDA clearance for somatrogon in January 2021, which is used to treat young patients with deficiency of growth hormone.

Various strategic innovations for long-lasting and more-effective drugs have been made in the market. For instance, Biocorp, a firm that develops, designs, and manufactures healthcare devices, and Merck, a technology corporation, reached a deal in September 2021 for the development and global distribution of a specialized version of the Mallya device for HGH applications.

Browse detailed report on Human Growth Hormone Market Share, Growth and Demand Forecast to 2030

The human growth hormone market is fairly consolidated, with only a few big participants. These major participants are Novo Nordisk A/S, Eli Lilly and Company, Teva Pharmaceutical Industries Ltd., F. Hoffmann-La Roche AG, Novartis AG, Pfizer Inc., and Merck KGaA.

Human Growth Hormone Market Segmentation Analysis

By Product Type

  • Short-Acting Growth Hormones
  • Long-Acting Growth Hormones

By Application

  • Growth Hormone Deficiency
  • Prader-Willi Syndrome
  • Turner Syndrome
  • Small for Gestational Age

By Distribution Channel

  • Hospital Pharmacy
  • Retail Pharmacy
  • Online Pharmacy

Regional Outlook

  • North America
  • Europe
    • U.K.
    • Germany
    • France
    • Spain
    • Italy
  • Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • Singapore
  • Latin America
  • Middle East and Africa
    • Saudi Arabia
    • South Africa
    • U.A.E.

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About P&S Intelligence

P&S Intelligence provides market research and consulting services to a vast array of industries across the world. As an enterprising research and consulting company, P&S believes in providing thorough insights on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness. P&S keeps the interest of its clients at heart, which is why the insights we provide are both honest and accurate. Our long list of satisfied clients includes entry-level firms as well as multi-million-dollar businesses and government agencies.

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P&S Intelligence
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SOURCE P&S Intelligence–says-ps-intelligence-301543405.html

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