Human Growth Hormone Treatment & Drugs Market is Projected to Achieve US$ 4.8 Billion by 2032
The human growth hormone treatment & drugs market was valued at US$ 3.4 billion in 2021, and it is predicted to expand to US$ 4.8 billion by 2032, with a compound annual growth rate (CAGR) of 3.3% from 2022 to 2032.
Industry participants’ investments, the presence of a solid pipeline, extensive R&D efforts, a comprehensive product portfolio, and expanding government initiatives are all projected to drive the demand for human growth hormone treatment & drugs.
The global human growth hormone treatment & drugs market share is expected to be impacted by the COVID-19 epidemic. Patients with low growth hormone secretion are at risk for COVID-19, which necessitates immediate intervention to aid in COVID-19 prevention.
Patients with Prader-Willi syndrome, on the other hand, must exercise caution in order to reduce their risk of contracting COVID-19. Furthermore, people with Prader-Willi syndrome may not exhibit typical symptoms such as a high fever or a higher-than-normal pain threshold, delaying the diagnosis of COVID-19.
Turner syndrome patients are at an increased risk of contracting the COVID-19 virus, which can cause serious disease.
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Human growth hormone manufacturers are investing in research and development to create a growth hormone with fewer side effects and the potential to be a long-term treatment.
The human growth hormone supplements market is growing due to an increase in disorders connected to growth hormone insufficiency, an increase in the use of ageing hormones, government and private sector efforts to raise awareness of growth hormone deficit, and high productivity.
Other reasons such as greater understanding of the treatment process, an increase in the number of health conditions, and an increase in the number of neuropsychiatric cases are expected to boost the human growth hormone treatment & drugs market size’s growth. Human growth hormone supplements market expansion is projected to be driven by the quick growth of new human growth hormone novels.
As per the global human growth hormone treatment & drugs market study, the industry is likely to be driven by initiatives taken by various government and private organizations to raise awareness about GH deficiency and human growth hormone treatment.
International Children’s Growth Awareness Day is observed every year by the International Coalition of Organizations Supporting Endocrine Patients (ICOSEP), a nonprofit charitable organization based in the United States, to increase public knowledge regarding the early detection and intervention of human growth hormone problems, particularly in children.
However, the high price of hGH therapies, as well as severe hGH-related side effects, may negatively impact the human growth hormone for sale over the projection period.
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Knee, hip, or other joint discomforts; allergic reactions, such as redness, swelling, or hives; and an increase in blood sugar levels are all possible adverse effects of GH hormone therapy, according to UPMC Children’s Hospital of Pittsburgh.
- In 2021, the US human growth hormone treatment & drugs market was expected to be worth $1.3 billion, while China’s market is expected to be worth $285.1 million by 2026.
- In 2020, the Turner syndrome category accounted for a significant portion of the human growth hormone supplements market, and this trend is likely to continue during the forecast period.
- Led by countries such as Australia, India, and South Korea, the Intravenous segment market in Asia-Pacific is forecast to reach US$14.4 Million by the year 2026.
- Subcutaneous, one of the report’s segments, is expected to rise at a 4 per cent compound annual growth rate (CAGR) to reach US$2.7 billion by the conclusion of the analysis period.
“A healthy product portfolio and extensive Market research investments for the emergence of future growth hormone treatments are projected to propel the sales of human growth hormone treatment & drugs.”
The demand for human growth hormone treatment & drugs is moderately concentrated, with a few key manufacturers owning a large portion of the industry. Furthermore, several active collaborations are underway to generate more effective and long-acting subtypes of human growth hormones.
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Key human growth hormone manufacturers include Eli Lilly and Company, Ipsen S.A., EMD Serono Inc., Novo Nordisk A/S, Genentech, Inc (Roche), AnkeBio Co. Ltd, GeneScience Pharmaceuticals Co. Ltd, LG Life Sciences and Ferring Pharmaceuticals.
Pfizer Inc. began a Phase III research trial in February 2021 to assess the efficacy and security of somatropin in a group of Japanese patients with Prader-Willi Syndrome (PWS).
In October 2020, Erasmus Medical Center, in collaboration with Pfizer, the Foundation for Prader-Willi Research, and the Prader-Willi Fonds, launched a Phase III clinical trial to evaluate the impact of growth hormone treatment (Genotropin) on physical and psychosocial wellbeing in adults with Prader-Willi syndrome who are 30 years or older.
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