Growth Hormone Deficiency Market To Be Propelled By Rising Prevalence of Chronic Diseases and Growing Awareness for Growth Hormone Treatment
Research Nester published a report titled “Growth Hormone Deficiency Market: Global Demand Analysis & Opportunity Outlook 2028” which delivers a detailed overview of the growth hormone deficiency market in terms of market segmentation by application, by route of administration, by distribution channel, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis, and Porter’s five force model.
The growth hormone in the human body is responsible for increasing the height during childhood, raising calcium retention levels, strengthening, and improving bone mineralization.Without these, children and adults can experience underdeveloped growth and a lot of other physical and mental issues. Growth hormone deficiency (GHD) in humans is initiated when the pituitary gland does not synthesize enough human growth hormone also known as somatotropin.
The growth hormone deficiency market is expected to witness an attainable high CAGR during the forecast period, i.e., 2020-2028. The market is segmented by application, route of administration, distribution channel, and region. Among product applications, the Turner syndrome segment is projected to dominate the overall market owing to its risingoccurrences across the globe and enhanced awareness of Turner syndrome in the medical community.
Regionally, the growth hormone deficiency market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region.
The growth hormone deficiency market in the North-America region is expected to hold a major market share on account of the growing occurrence of growth hormone deficiency and Turner syndrome, affordability of expensive hormonal therapy, presence of well-established healthcare infrastructure, and growing R&D associated with growth hormones.
Europe is expected to be the second-largest market for growth hormone deficiency owing to factors such as rising government spending on healthcare infrastructure in the European countries and growing cases of growth hormone deficiencies among the population.
The Asia-Pacific region is estimated to witness the fastest growth during the forecast period owing to the increasing demand for growth hormone in the emerging countries, expansion in healthcare spending, infiltration of leading players into the market, growing population, and an increase in disposable income.
Risingprevalence of chronic diseasesglobally is expected to drive the market growth.
Prolonged diseases such as growth retardation, pituitary dysfunctions, complemented by changing lifestyle, the prevalence of other genetic disorders, prevalence of GHD in adults, and surge in compliance for growth hormone creations are the contributing factors driving the market growth globally.
Additionally, a rise in disposable income, a surge in healthcare expenditure in developing economies, initiatives by numerous government and private organizations to spread alertness for growth hormone deficiencies, and as well as awareness for human growth hormone treatment is estimated to drive the market growth.
However, side effects such as muscle pain, joint pain, and fluid retention accompanying the usage of growth hormones, stringent government approvals, and high cost involved in the treatments using these growth hormones might hindering the growth of overall growth hormone deficiency market.
This report also provides the existing competitive scenario of some of the key players of the growth hormone deficiency market which includes company profiling of Teva Pharmaceuticals Industries Ltd. (TLV: TEVA), Ipsen Pharma Biotech SAS, Novartis AG (SWX: NOVN), Pfizer, Inc. (NYSE: PFE), F. Hoffmann-La Roche Ltd (SWX: RO), Ferring B.V., Novo Nordisk A/S (CPH: NOVO-B), Eli Lilly and Company (NYSE: LLY), AnkeBio Co., Ltd, Merck KGaA (ETR: MRK). The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials, and recent news and developments. On the whole, the report depicts a detailed overview of the growth hormone deficiency market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.