Growth Hormone Market Size Worth $ 6.22 Billion, Globally, by 2028 at 6.70% CAGR: Verified Market Research®
The demand for the growth hormone market is increasing at a rapid rate, mainly due to the increase in cases of pituitary dysfunction resulting in growth hormone deficiency.
JERSEY CITY, NJ, 25 October 2021 / PRNewswire / – Verified Market Research recently published a report, “Growth hormone market“By application (growth hormone deficiency, Turner syndrome, idiopathic short stature), by distribution channel (hospital pharmacy, retail pharmacy, online pharmacy), by route of administration (intravenous, subcutaneous, intramuscular) and by geography. According to Verified Market Research, the global growth hormone market size has been estimated to be $ 3.68 billion in 2020 and should reach $ 6.22 billion by 2028, with a CAGR of 6.70% from 2021 to 2028.
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37 – Figures
Global Growth Hormones Market Overview
The demand for the growth hormone market is increasing at a rapid rate, mainly due to the increase in cases of pituitary dysfunction resulting in growth hormone deficiency. According to statistics revealed by Oregon Health & Science University, growth hormone deficiency is rare, but it affects approximately 50,000 American adults. The higher or lower level of human growth hormone has an impact on the growth of individuals, in which the low level shows the risk of higher accumulation of fat throughout the body and an increased level leads to various medical conditions such as gigantism, acromegaly, muscle wasting, and short bowel syndrome.
The growing awareness of treatment for growth hormone deficiency is the leading factor driving the growth of the growth hormone market. Large pharmaceutical companies are continuously carrying out research and development activities in combination with trials for the development of new therapies, which are expected to drive the growth of the growth hormone market. Companies are introducing new therapies and treatments to maintain the GH level of those affected.
For example, in August 2020, the United States Food and Drug Administration (FDA) has approved Sogroya (somapacitan) from Novo Nordisk, Inc. as the first human growth hormone (HGH) treatment that adult patients take only once per week by injection under the skin. In addition to this, the favorable support from the government of various countries to promote awareness of GHG is driving the growth of the market.
Key developments in Growth hormone market
In September 2021, Biocorp and Merck have teamed up for the development and worldwide distribution of a specific version of the Mallya device for applications in the field of HGH.
In August 2020, the United States Food and Drug Administration (FDA) has approved Sogroya (somapacitan) from Novo Nordisk, Inc., as the first human growth hormone (HGH) treatment that adult patients only take once a week by injection under the skin.
The main players in the market are Anhui Anke Biotechnology (Group) Co., Ltd, Biopartners GmbH, Eli Lilly and Company, GeneScience Pharmaceuticals Co., Ltd, Ipsen SA, Merck KgaA, Novartis AG, Novo Nordisk A / S, Pfizer Inc. ., and Roche Holdings, Inc.
Verified market research segmented the global growth hormones market on the basis of application, distribution channel, route of administration, and geography.
Growth Hormones Market, By Application
Growth Hormones Market, By Distribution Channel
Growth Hormone Market, By Administration
Growth Hormones Market By Geography
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Top 10 Human Growth Hormone Companies Treating Growth Hormone Deficiency
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