Human Growth Hormone Market

The global human growth hormone market is expected to reach $9,211.63 million by 2030, registering a CAGR of 9.0% from 2021 to 2030.

PORTLAND, OREGON, US, January 11, 2022 /EINPresswire.com/ -- According to the "Human Growth Hormone (hGH) Market: Global Opportunity Analysis and Industry Forecast, 2021–2030", report published by the Allied Market Research, the study presents impending revenue forecast of the industry for the next few years coupled with imminent market trends and opportunities. Moreover, the study also doles out different logical tables and graphs to identify the complexities of the market. A complete and wide-ranging evaluation of the aspects that drive and restrain the market growth is also provided throughout the study. This detailed exploration of the market size and its proper segmentation help the market players define the prevalent opportunities that are looming large.

The global human growth hormone market was valued at $3,864.00 million in 2020 and is expected to reach $9,211.63 million by 2030, registering a CAGR of 9.0% from 2021 to 2030. Human growth hormones were developed in 1985 and approved by the FDA for explicit use in children and adults.

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Rise in use of aging hormones, efforts taken by governments and various private organizations to spread awareness of growth hormone deficiency, and strong productivity. Other factors such as increased awareness of the treatment process, increased number of health disorders, and increased neuropsychiatric cases are projected to improve the growth of the human growth hormone market. The rapid growth of new human growth hormone novels is expected to drive the human growth hormone market growth.

The human growth hormone market is segmented on the basis of application, route of administration, distribution channel, and region. On the basis of application, the market is divided into Growth hormone deficiency, Prader-willi syndrome, Turner syndrome, Small for gestational age (SGA), and Others. On the basis of route of administration, the market is divided into oral, intravenous, intramuscular, and subcutaneous. On the basis of distribution channel, the market is fragmented into hospital pharmacy, retail pharmacy, and online pharmacy.

Covid-19 Impact Analysis:

The COVID-19 outbreak is anticipated to impact the global human growth hormone market. As per an article from Frontiers, the patients with decreased growth hormone secretion present a risk factor for COVID-19, which requires attention that will help in the prevention of COVID-19. Along with this, patients who are suffering from Prader-Willi syndrome also need to take enough care to minimize the risk of getting COVID-19. Moreover, Prader-Willi syndrome patients may not show typical symptoms such as a high temperature and they may also experience a higher-than-normal pain threshold which may delay in the diagnosis of COVID-19. Individuals with Turner syndrome are at higher risk for severe illness from the COVID-19 virus. The COVID-19 pandemic has stressed and impacted the healthcare systems of the world. The lockdown situation all over the world, has created obstacles for both the patients and the healthcare providers.

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Key Findings of The Study:

• By application, the Turner Syndrome segment dominated the human growth hormone market in 2020 and is anticipated to continue the same during the forecast period.
• By region, North America was the major shareholder and accounted for the highest share of 49% in 2020.
• By route of administration, the subcutaneous segment is expected to grow at a CAGR of 9.3% during the forecast period.
• By distribution channel, the hospital pharmacy segment dominated the market in 2020 and is anticipated to maintain its dominance during the forecast period.

The research offers an extensive analysis of key players active in the global human growth hormone market include Novo Nordisk, Merck & Co., Eli Lilly & Company, Pfizer Inc., Teva Pharmaceutical Industries, Novartis AG, Anhui Anke Biotechnology (Group) Co., Ltd., Roche, Ipsen, and Ferring BV.

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