Human Growth Hormone Market size is projected to experience significant growth from 2019 to 2025.
Human growth hormone is also called as somatotropin. It is a type of peptide hormone that is responsible for growth stimulation, cell reproduction and cell regeneration in humans. Therefore, it has a vital role in development of humans. The production of human growth hormone is done by the pituitary gland. This gland is present at the base of the skull below the brain. It spurs growth in humans along with increasing muscle mass. Synthetically produced human growth hormone is present in a lot of drugs, food supplements and other such products.
Factor such as increasing cases of hormonal disorders and rising regulatory approvals across the globe will drive the global human growth hormone market in the foreseeable future. The rising prevalence of disorders such as Turner syndrome, Laron syndrome, acromegaly, gigantism, growth hormone deficiency, Idiopathic short stature, septo-optic dysplasia, and Noonan syndrome will also drive the human growth hormone market over the estimation period.
Growing prevalence of serious chronic diseases and increasing ageing population are boosting the growth of the global human growth hormone market. With advancements in medical sciences and rising adoption for hormone therapies, the demand for human growth hormone will rise. Such factors will augment the human growth hormone market over the forecast period.
Furthermore, there is a rise in reimbursement policies that help patients get medical treatments at affordable prices. Governments of various developed and developing economies also take initiatives to promote such healthcare related policies. The growing number of such government initiatives will also contribute for driving the demand for human growth hormone all over the globe.
Moreover, rising awareness regarding endocrine disorders and growing focus in monitoring overall development of fetus are major factors that will drive the global human growth hormone market growth. Turner syndrome contributed for a substantial share in the global human growth hormone market due to the efficacy of human growth hormone in treatment of delayed physical and sexual development. Also, approval from FDA for use of human growth hormone as a standard treatment for Turner syndrome will augment the segmental growth.
The global human growth hormone market is expanding at a promising growth owing to rising cases of neuropsychiatric-cognitive disorders, pituitary tumors, skeletal abnormalities, cardiovascular, neuromuscular and metabolic abnormalities. Abovementioned disorders can be treated with the help of human growth hormone which further augments its demand and thereby boost the growth of the market.
The largest share in the global human growth hormone market is captured by U.S. in 2018. This high contribution is attributed to the huge investment in R&D related to hormonal disorders, presence of major market players and high adoption rate for technological advancements in the country. Also, the high expenditure on healthcare will boost market growth.
Japan is expected to be the fastest growing country in the global human growth hormone market in the forecast period. This growth is attributed to rising investment for R&D in the field of endocrinology, constantly improving healthcare industry, technological advancements in the field of medicine, rising disposable incomes and increasing developments in the healthcare system. The above-mentioned factors will augment the demand for human growth hormone.
Ipsen, Ferring Pharmaceuticals, Genentech, Merck, Eli Lilly, Pfizer and Novo Nordisk are some of the key market players in the global human growth hormone market. Innovative product launches, merger, acquisitions, technological advancements and capacity expansion are the major strategic initiatives taken by the market players to expand their business product portfolio.
Human Growth Hormone Market by Product, 2014-2025 (USD Million)
Human Growth Hormone Market by Application, 2014-2025 (USD Million)
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