Global Human Growth Hormone Drugs Market to Reach $4 Billion by 2026

SAN FRANCISCO, July 13, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Human Growth Hormone Drugs - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

FACTS AT A GLANCE
Edition: 16; Released: June 2021
Executive Pool: 2751
Companies: 46 - Players covered include AnkeBio Co. Ltd; Eli Lilly and Company; EMD Serono Inc.; Ferring Pharmaceuticals; Genentech, Inc (Roche); GeneScience Pharmaceuticals Co. Ltd; Ipsen S.A.; LG Life Sciences; Merck KGaA; Novo Nordisk A/S; Pfizer, Inc; Sandoz International GmbH (Novartis AG); Strongbridge Biopharma; Teva Pharmaceutical Industries, Ltd and Others.
Coverage: All major geographies and key segments
Segments: Route of Administration (Subcutaneous, Intramuscular, Intravenous, Oral); Distribution Channel (Hospital Pharmacy, Specialty Pharmacy, Retail Pharmacy, Online Pharmacy); Application (Growth Hormone Deficiency, Turner Syndrome, Idiopathic Short Stature (ISS), Prader-Willi Syndrome (PWS), Other Applications)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Latin America; Middle East; Africa.

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ABSTRACT-

Global Human Growth Hormone Drugs Market to Reach $4 Billion by 2026
The human growth hormone, which is also known as somatropin, is a peptide hormone that is secreted by pituitary gland, which regulates cell regeneration, cell growth, metabolism, and reproduction. The level of growth hormones should be optimum in human body for normal growth. It can be regulated by several factors such as sleep, stress, exercise, and lower levels of glucose. Human growth hormones help to control body composition, bone and muscle growth, sugar and fat metabolism, recovery from injuries, and body fluids. They also help in boosting muscle strength and performance. Improper levels of growth hormones may affect the quality of life, intensifying the risks of health disorders such as high levels of cholesterol, decreased bone density, and deficiency in growth hormones. While lower levels of the growth hormones result in fat accumulation in the human body, higher levels result in gigantism in children and short bowel syndrome and muscle-wasting disease in adults. With growing age, the human growth hormone levels decrease. This natural process of slowing down of the growth hormone production in human body has raised the interest in synthetic hormone therapies globally.

Amid the COVID-19 crisis, the global market for Human Growth Hormone Drugs estimated at US$3.3 Billion in the year 2020, is projected to reach a revised size of US$4 Billion by 2026, growing at a CAGR of 3.5% over the analysis period. Subcutaneous, one of the segments analyzed in the report, is projected to grow at a 4% CAGR to reach US$2.7 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Intramuscular segment is readjusted to a revised 3.1% CAGR for the next 7-year period. This segment currently accounts for a 23.7% share of the global Human Growth Hormone Drugs market.

The U.S. Market is Estimated at $1.3 Billion in 2021, While China is Forecast to Reach $285.1 Million by 2026
The Human Growth Hormone Drugs market in the U.S. is estimated at US$1.3 Billion in the year 2021. The country currently accounts for a 40.12% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$285.1 Million in the year 2026 trailing a CAGR of 5.2% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.5% and 3.3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3% CAGR while Rest of European market (as defined in the study) will reach US$299.1 Million by the close of the analysis period.

The market is expected to witness growth owing to surge in cases related to pituitary dysfunction, and increasing number of health disorders in children, mainly owing to changes in food habits. Some other major factors that have been driving the market growth are advancement of recombinant HGH drugs, and increasing off-label use of human growth hormones. Also, increase in awareness with regards to treatment processes; increasing aging population; increasing neuropsychiatric cases; increasing funds by governments for research and development within the endocrinology sector; introduction of technological advancements within the healthcare sector for enhancing quality of services; increasing rate of consumption of the drugs in key applications. Additionally, initiatives adopted by private and public organizations for promoting healthcare-related policies and services in the under-developing and developed companies is also boosting market for human growth hormones globally. Also, demand from people for effective treatment processes and rise in disposable income among the urban population is likely to offer market growth opportunities. Increasing prevalence of adopting latest technologies in regards to pill production at low cost is also likely to positively impact market demand for human growth hormones. Increased FDA approvals are offering immense opportunities to companies for developing new, more effective drugs, with lesser side effects.

The market will also benefit from increasing number of health disorders in children, mainly owing to changes in food habits. Also, increase in awareness in regards to treatment processes; increasing aging population; increasing neuropsychiatric cases; increasing funds by governments for research and development within the endocrinology sector; introduction of technological advancements within the healthcare sector for enhancing quality of services; increasing rate of consumption of the drugs in key applications; increasing approvals by FDA along with other government organizations; as well as increase in research organizations pertaining to the biotechnology field is driving market growth. Additionally, initiatives adopted by private and public organizations for promoting healthcare-related policies and services in the under-developing and developed companies is also boosting market for human growth hormones globally.

Intravenous Segment to Reach $304.8 Million by 2026
In the global Intravenous segment, USA, Canada, Japan, China and Europe will drive the 2.2% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$231.8 Million in the year 2020 will reach a projected size of US$269.1 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$14.4 Million by the year 2026. More

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Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.

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Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com 
Email: [email protected] 

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