Growth Hormone Market Size By Product (Powder, Solvent), By Application (Growth Hormone Deficiency, Idiopathic Short Stature, Turner Syndrome, Small For Gestational Age, Prader-Willi Syndrome), By Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Online Medstores), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027

Published Date: Apr 2021  |  Report ID: GMI5042  |  Authors: Sumant Ugalmugale, Rupali Swain

Report Format: PDF   |   Pages: 180   |   Base Year: 2020




Summary Table of Contents Industry Coverage Methodology

Industry trends

Growth Hormone Market size was valued more than USD 3.2 billion in 2020 and is expected to grow at a CAGR of over 7.1% between 2021 and 2027.
 

Growth Hormone Market Overview

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Growth hormone, also known as somatropin is a hormone produced by pituitary gland. Main function of the growth hormone is to stimulate body growth in children. It also helps in increasing muscle mass, reducing body fat, and controlling metabolism. However, sometimes body does not produce enough growth hormones to support natural growth leading to a condition called as growth hormone deficiency. In such cases, synthetic growth hormones can be used to treat the patients.
 

Increasing cases of growth hormone deficiency and other growth disorders will accelerate the market growth. Rising awareness about the growth hormone therapy and its benefits has led to increased uptake of growth hormone injections across the world. Additionally, growing R&D activities in the industry and number of major market players involved in developing newer cost-effective treatments are also likely to improve the growth hormone market expansion in the near future.
 

On the other hand, high cost of the current therapy, and adverse effects of the continuous growth hormone treatment are some of the factors hindering its uptake among population affecting the industry growth. Also, disruptions in supply chain during the outbreak of global pandemic COVID-19 have affected the distribution of growth hormone medication to an extent.
 

Rising incidence of growth disorders will propel the product demand

Over the years, there has been moderate growth in terms of awareness about the usage of synthetic growth hormone treatment. However, growing research by industry participants over the years regarding underlying causes of the growth disorders, and increasing rate of diagnosis has resulted in rise in growth disorders cases. Some of these disorders include pediatric growth hormone deficiency, adult growth hormone deficiency, Idiopathic short stature and some genetic conditions such as Turner syndrome and Prader-Willi syndrome among others.
 

Pediatric growth hormone deficiency occurs in 1 in 3,800 children across the globe. Nearly 1 in 2,000 female suffers from Turner syndrome, and 1 in 30,000 people suffer from Prader-Willi syndrome. Even though all these disorders have different underlying causes, the first line of treatment used is synthetic growth hormone injections. Growth hormone injections are used as a replacement therapy in growth hormone deficiency syndrome as the body fails to produce it naturally. With rising cases of these disorders, the demand for synthetic growth hormones is expected to rise which will push the market progression.
 

Increasing usage of synthetic growth hormone for various applications will result in the industry expansion

Powder segment in the growth hormone market accounted for more than USD 2 billion in 2020. Powder form is the most common form in which the growth hormones are supplied. These growth hormones are in the form of lyophilized powder. The lyophilized powder is later formulated into suspension with different concentrations to develop dosage of growth hormone injections. The growth hormone injections are injected subcutaneously into the patients. Some of the leaders manufacturing growth hormones in powder form are Pfizer (Genotropin), Merck (Saizen), Eli Lilly and Company (Humatrope), and Ferring Pharmaceuticals (Zomacton). These companies are operating in different regions across the world to fulfil the demand for synthetic growth hormone. Increasing awareness about treatment of growth disorders coupled with rising usage of synthetic growth hormones is likely to propel the segment growth.
 

Rising prevalence of pediatric and adult growth hormone deficiency will foster the market value

The growth hormone deficiency segment is poised to observe a 7.3% growth rate by 2027. Growth hormone deficiency occurs when the pituitary gland fails to produce enough growth hormone to support the growth of the body. It leads to various growth disorders including shortness of height, underdevelopment of body parts, and others. GHD primarily affects children; however, about 1 in 100,000 adults are affected by GHD across the globe. Children with GHD are generally treated with synthetic growth hormones until their puberty. However, in some cases patients need to be on growth hormone therapy for their entire life. A large number of patients with GHD and expensive treatment options are the major factors driving the segment value.
 

Growing number of hospital pharmacies will offer a significant market growth opportunities

Growth Hormone Market Size

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The hospital pharmacy segment dominated more than 55% of the growth hormone market share in 2020. Increasing rate of diagnosis of growth disorders in hospitals is pushing the demand for growth hormone medication in hospital pharmacies. This will probably boost the industry demand during the forecast period.  Increasing number of hospital pharmacies in developing regions with adequate availability of variety of medication is also fuelling the industry progression.
 

Increasing number of patients getting growth hormone therapy in North America region will accelerate the market revenue

North America Growth Hormone Market

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U.S. dominated the North America growth hormone market and accounted for USD 1.3 billion in 2020. Also, the North America market is predicted to expand at a CAGR of more than 7% by 2027 owing to the rising sales of growth hormone injections for treatment of various growth disorders. There has been a continuous rise in the diagnosis of such growth disorders generating demand for its treatment options. Moreover, high disposable income of people in North American countries with capacity to undergo expensive treatment regimes is also one of the factors supporting the regional growth. Additionally, presence of major market leaders such as Novo Nordisk, Pfizer, and Eli Lily among others is aiding the regional expansion of the industry.
 

Rising number of players involved in developing novel products are augmenting the market value

Some of the prominent companies functioning in the market include Novo Nordisk A/S, Pfizer Inc., Novartis AG, Eli Lily And Company, Merck KGaA, Ipsen S.A., Anhui Anke Biotechnology (Group) Co., Ltd, LG Chem Ltd., Ferring B.V., and Genetech Inc. (Roche Group). These market leaders have been undergoing strategic developments to sustain the market competition and capture sizable market share.
 

Some of the recent industry developments:

  • In February 2021, Pfizer and OPKO health Inc. announced that European Medicines Agency has accepted marketing authorization application for Somatrogon for treating pediatric growth hormone deficiency patients. Pfizer and OPKO had entered into an agreement for the development and commercialization of somatrogon for treatment of GHD back in 2014.
     
  • For instance, in October 2018, Novo Nordisk announced the expansion of their biopharma business. The expansion is catalyzed by acquiring the U.S. and Canada rights of Macrilen. Macrilen is the only approved product for diagnosis of AGHD. The development has significantly improved the position of company in the industry.
     

The growth hormone market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2016 to 2027, for the following segments:

Market, By Product, 2016-2027 (USD Million)

  • Powder
  • Solvent

Market, By Application, 2016-2027 (USD Million)

  • Growth Hormone Deficiency
  • Idiopathic Short Stature
  • Turner Syndrome
  • Small For Gestational Age
  • Prader-Willi Syndrome
  • Others

Market, By Distribution Channel, 2016-2027 (USD Million)

  • Hospital Pharmacy
  • Retail Pharmacy
  • Online Medstores

The above information is provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
  • Asia Pacific
    • Japan
    • China
    • India
    • South Korea
    • Australia
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • South Africa

 

Frequently Asked Questions (FAQ) :

Growth hormone market revenue surpassed USD 3.2 billion in 2020 and will expand at a CAGR of 7.1% from 2021 to 2027.
Driven by increasing incidences of growth hormone deficiency among children and adults, the segment will grow at a 7.3% rate through 2027.
Hospital pharmacies accounted for 55% of growth hormone market revenue in 2020 and will grow with the rising diagnosis of this disorder in hospital settings.
North America growth hormone market size could register a CAGR of over 7% through 2027 driven by the increasing number of patients going through growth therapy.

Premium Report Details

  • Published Date: Apr 2021
  • Pages: 180
  • Tables: 190
  • Charts / Figures: 14
  • Companies covered: 10
  • Countries covered: 18

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