The global human growth hormone market size is expected to reach a value of USD 8.5 billion by 2027, registering a CAGR of 8.2% over the forecast period, according to a new report by Grand View Research, Inc. Introduction of novel therapies, increasing R&D activities, and rising awareness for the diagnosis and treatment of growth hormone (GH) disorders are expected to drive the market over the forecast period.
Key players operating in the market are involved in extensive R&D activities for the development of novel GH therapies to strengthen their position in the market. For instance, in October 2019, VISEN Pharmaceuticals, a joint venture of Denmark-based Ascendis Pharma A/S, received approval from China National Drug Administration (NMPA) for its new drug (IND) application to start Phase III clinical study of TransCon hGH. Furthermore, two South Korean companies, Genexine Inc. and Handok Inc., are conducting a Phase II clinical trial study on GX-H9, a recombinant human GH for the treatment of adult and pediatric GH deficiency.
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Furthermore, increase in the number of regulatory approvals and launch of novel hGH therapies are expected to fuel the market over the forecast period. For instance, in January 2018, Ferring Pharmaceuticals Inc., a Switzerland-based pharmaceutical company, received United States Food and Drug Administration (USFDA) approval for its new recombinant hGH, Zomacton (somatropin) indicated for the treatment of adult patients with GH deficiency.
Various government and private organizations have been undertaking initiatives and programs to spread awareness about GH deficiency and facilitate timely diagnosis and treatment. Nonprofit organizations such as Human Growth Foundation are engaged in providing research support and spreading awareness about GH deficiency and its treatment. Such initiatives are expected to drive the demand for hGH treatment therapies.
Human Growth Hormone Market Report Highlights
• GH deficiency was the largest application segment in 2019 owing to increase in regulatory approvals and launch of novel therapies
• Rising awareness about GH deficiency, coupled with increasing hospital visits for its treatment, is expected to drive the hospital distribution channel segment
• North America dominated the human growth hormone market with the largest share in 2019. This is attributed to favorable reimbursement scenario, high awareness, and the presence of major players in the region
• Asia Pacific is projected to witness a lucrative CAGR over the forecast period owing to increasing penetration of key players with their new growth hormone therapies
• The key players include Novo Nordisk A/S; Pfizer Inc.; Eli Lilly and Company; Sandoz International GmbH (Novartis AG); Merck KGaA; Genentech, Inc. (Roche); Ferring Pharmaceuticals; Teva Pharmaceutical Industries, Ltd; and Ipsen.
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Human Growth Hormone Market Segmentation
Grand View Research has segmented the global human growth hormone market on the basis of application, distribution channel, and region:
Human Growth Hormone (hGH) Application Outlook (Revenue, USD Million, 2016 - 2027)
• Growth Hormone (GH) Deficiency
o Adult GH Deficiency
o Pediatric GH Deficiency
• Turner Syndrome
• Idiopathic Short Stature
• Prader-Willi Syndrome
• Small for Gestational Age
• Other
Human Growth Hormone (hGH) Distribution Channel Outlook (Revenue, USD Million, 2016 - 2027)
• Hospital Pharmacy
• Retail Pharmacy
• Online Pharmacy
• Specialty Pharmacy
Human Growth Hormone (hGH) Regional Outlook (Revenue, USD Million, 2016 - 2027)
• North America
o U.S.
o Canada
• Europe
o Germany
o U.K.
o Spain
o France
o Italy
o Russia
• Asia Pacific
o Japan
o China
o India
o South Korea
o Singapore
o Australia
• Latin America
o Brazil
o Mexico
o Argentina
• MEA
o South Africa
o Saudi Arabia
o UAE
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.