Growth Hormone Deficiency Market Poised for Expansion owing to Rising Prevalence of Growth Hormone Deficiency and Increasing Adoption of Advanced Therapies

AUSTIN, TEXAS, UNITED STATES, May 31, 2024 /EINPresswire.com/ -- The Growth Hormone Deficiency Market Size was valued at USD 5.48 Billion in 2023. It is anticipated to achieve a valuation of USD 8.11 Billion by 2031, experiencing a compound annual growth rate (CAGR) of 5.02% throughout the forecast period from 2024 to 2031.

Growth hormone deficiency (GHD) is a medical condition characterized by the insufficient production of growth hormone (somatropin) by the pituitary gland. This hormone plays a critical role in cell development, reproduction, and overall growth. GHD affects both children and adults, manifesting in delayed growth, fatigue, decreased muscle strength, and altered body composition in children. Adults with GHD experience similar symptoms along with an increased risk of osteoporosis and insulin resistance.

The rising prevalence of GHD, particularly due to brain injuries, along with growing awareness about treatment options, are presenting a substantial growth opportunity for the market. Daily or weekly growth hormone injections are the mainstay of treatment, with results typically evident within 2-3 months.

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List of Growth Hormone Deficiency Companies Profiled in Report:
• Eli Lilly and Company
• Ferring Pharmaceuticals
• Genentech, Inc. (Roche)
• Ipsen
• Merck KGaA
• Novartis AG
• Novo Nordisk A/S
• Pfizer, Inc
• Roche
• Sandoz International GmbH (Novartis AG)
• Teva Pharmaceutical Industries, Ltd.
(To view Complete List of companies, Read Sample Report)

Market Analysis
Rising awareness about GHD and its treatment options, coupled with an increasing geriatric population susceptible to GHD, are key drivers. Additionally, advancements in growth hormone therapy, such as the development of long-acting injectable formulations, are expected to enhance patient convenience and compliance, thereby aiding market expansion.

Recent Developments in the Growth Hormone Deficiency Market
In August 2023, Opko Health Inc. and Pfizer received FDA approval for their once-weekly somatrogon therapy for children with GHD. This long-acting injectable, Ngenla (Somatrogon-ghla), demonstrates comparable efficacy to somatropin in enhancing annual height velocity, as evidenced by phase 3 clinical trials. With a safety profile similar to somatropin, this approval underscores Opko Health and Pfizer's commitment to providing innovative treatment solutions for pediatric growth failure.

In May 2023, Novo Nordisk made significant strides in the human growth hormone therapy market by securing a positive recommendation from the European Medicines Agency (EMA) for Sogroya, a once-weekly therapy for treating growth hormone deficiency and development failure in children aged three and above. This positions Sogroya as a promising alternative therapy, marking a noteworthy step forward in Novo Nordisk's strategic market expansion.

The Growth Hormone Deficiency Market Is Segmented By End User, Application, And Brand.

By End User:
• Hospital Pharmacy - This segment currently holds the dominant position due to the requirement for specialist supervision during growth hormone administration, particularly for children.
• Retail Pharmacy, Online Pharmacy, Specialty Pharmacy - These segments are anticipated to experience growth owing to increasing patient preference for home-based treatment and the convenience of online platforms.

By Application:
• Growth Hormone Deficiency - This segment accounts for the largest share due to the widespread prevalence of GHD.
• Turner Syndrome, Idiopathic Short Stature (ISS), Prader-Willi Syndrome, Small for Gestational Age (SGA) - These segments are expected to exhibit significant growth due to the rising adoption of growth hormone therapy for these conditions.

By Brand:
• Norditropin, Genotropin, Humatrope, Saizen, Omnitrope - These established brands currently dominate the market due to their long-standing presence and proven efficacy.
• Other Brands - The entry of new players with innovative formulations is expected to intensify competition in the forthcoming years.

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Impact of Russia-Ukraine War on the Growth Hormone Deficiency Market
The ongoing Russia-Ukraine war is likely to have a moderate impact on the growth hormone deficiency market. Disruptions in the supply chain for raw materials and finished products could potentially lead to temporary shortages in certain regions. Additionally, the war might divert healthcare resources away from non-essential treatments like GHD therapy.

Impact of Economic Slowdown on the Growth Hormone Deficiency Market
An economic slowdown could potentially dampen the growth hormone deficiency market. Rising healthcare costs coupled with limited insurance coverage could restrict patient access to growth hormone therapy. However, the long-term impact is expected to be mitigated by the essential nature of GHD treatment and the potential for increased government healthcare spending in some regions.

North America Is Expected To Hold The Largest Market Share Throughout The Forecast Period
This dominance can be attributed to factors such as high healthcare expenditure, extensive adoption of growth hormone therapy, and the presence of major market players in the region. Europe is anticipated to follow closely due to a rising prevalence of GHD and increasing government investments in healthcare. Asia-Pacific is projected to witness the fastest growth rate owing to a burgeoning population, rising disposable income, and growing awareness about GHD.

Key Takeaways for Market Report Purchasers
• A comprehensive analysis of the growth hormone deficiency market, encompassing current trends, growth drivers, and challenges.
• Insightful segmentation of the market by End User, Application, and Brand, providing a thorough understanding of each segment's dynamics.
• Evaluation of the impact of the Russia-Ukraine war and economic slowdown on the market's growth trajectory.
• In-depth examination of key regional developments and the factors influencing market dominance.

Table of Content
Chapter 1 Introduction
Chapter 2 Research Methodology
Chapter 3 Growth Hormone Deficiency Market Dynamics
Chapter 4 Impact Analysis (COVID-19, Ukraine- Russia war, Ongoing Recession on Major Economies)
Chapter 5 Value Chain Analysis
Chapter 6 Porter’s 5 forces model
Chapter 7 PEST Analysis
Chapter 8 Growth Hormone Deficiency Market Segmentation, By End User
Chapter 9 Growth Hormone Deficiency Market Segmentation, By Application
Chapter 10 Growth Hormone Deficiency Market Segmentation, By Brand
Chapter 11 Regional Analysis
Chapter 12 Company profile
Chapter 13 Competitive Landscape
Chapter 14 Use Case and Best Practices
Chapter 15 Conclusion
Continued…

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Akash Anand
SNS Insider Pvt. Ltd
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