A recent report published by Infinium Global Research on human growth hormone market provides in-depth analysis of segments and sub-segments in global as well as regional human growth hormone market. The study also highlights the impact of drivers, restraints and macro indicators on the global and regional human growth hormone market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global human growth hormone market. According to the report the global human growth hormone market is projected to grow at a CAGR of 7.15% over the forecast period of 2018-2024.
Human growth hormone is a peptide hormone that promotes growth, cell reproduction, and cell regeneration in humans. Human growth hormone also called somatotropin, is produced by the pituitary gland and stimulates growth in children, youths and adults. It also helps to regulate body composition, body fluids, muscle and bone growth, sugar and fat metabolism, and heart function. Produced synthetically, HGH is an active ingredient in several prescription drugs. Growth hormone deficiency usually occurs due to any damage to the pituitary gland and it is passed genetically. Growth hormone deficiency is also caused by mutations in genes that regulate its synthesis and secretion.
The demand for human growth hormone is increasing due to rising incidences of growth hormone deficiency; these deficiencies are treated by injecting the growth hormone injections. In addition, technology advancement of a recombinant form of human growth hormone (rhGH) called somatropin by the leading player is further expected to propel the growth of the market. However, increased research and development in growth hormone drugs have resulted in the development of anti-aging drugs. Furthermore, innovations in research and development of long-acting drugs; increasing incidences of cancer and HIV/AIDS and rising expenditure on healthcare are some of the factors driving the growth of the market. On the other hand, there is a number of side effect of human growth hormone such as the increased risk of diabetes, joint pain, swelling due to fluid in the body's tissues (edema) and carpal tunnel syndrome is likely to hamper the growth of the market. Furthermore, the high cost of drugs and increasing anxieties over the growing off label use of human growth hormone are some of the factors that are likely to restrain the growth of the market. Moreover, an unexplored market in emerging economies such as Asia-Pacific and Latin America creates more opportunities for this market in the coming few years.
Among the geographies, North America is expected to be the largest market for human growth hormone due to the presences of leading players in this region and commercialization of growth hormone drugs by the U.S.FDA. Moreover, The U.S., the dominant market in North America accounted for the largest market size worldwide. Asia-Pacific is the fastest growing region in the global human growth hormone market, which is driven by increasing healthcare expenditures and high incidences of growth hormone deficiency disorders. Asia-Pacific is the fastest growing region, due to increasing healthcare expenditures and high incidences of growth hormone deficiency disorders among the people in this region. Moreover, rising demand for growth hormone drugs in emerging countries such as China, and India is anticipated to bring more opportunities to this market.
Pfizer Inc, Novo Nordisk A/s, and Eli Lilly and Company are the top leading players in this market. The leading players are entering into mergers and acquisitions and joint ventures, to undertake research and development activities in order to introduce new products and expand worldwide. Increasing investments by key players to increase the production capacities, for instance, to increase supply in rural areas, Novo Nordisk financed multi-million dollar in Lebanon, in 2016.
The report on global human growth hormone market covers segments such as route of administration and distribution channel. On the basis of route of administration the global human growth hormone market is categorized into oral, intramuscular, intravenous and subcutaneous. On the basis of distribution channel, the global human growth hormone market is categorized into online pharmacy, retail pharmacy, and hospital pharmacy.
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. In this section, the key trends and market size for each geography are provided over the period of 2016-2024. The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region. The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-pacific region offers a substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience growth at a CAGR of x.x% over the period of 2018-2024.
The report provides profiles of the companies in the global human growth hormone market such as Pfizer Inc., Novartis AG, Anhui Anke Biotechnology (Group) Co., Ltd, Ipsen S.A, Roche Holdings, Inc., Merck KGaA, Eli Lilly and Company, Novo Nordisk A/S, Biopartners GmbH and GeneScience Pharmaceuticals Co., Ltd.
The report provides deep insights on demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global human growth hormone market. Moreover, IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of human growth hormone market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the human growth hormone market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the human growth hormone market to understand the present and future trends in this market and formulate their strategies accordingly.
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