Global Human Growth Hormone Market Forecast to 2023-Future Prospects with Leading Key Players– ANKEBIO, EMD SERONO, F. HOFFMANN-LA ROCHE, FERRING BV, GENENTECH, IPSEN, LILLY USA, NOVO NORDISK A/S, PFIZER

The global human growth hormone market is expected to register a CAGR of 6.8% during the forecast period, 2018 to 2023. The human growth hormone, also somatotropin, is a peptide hormone that helps to stimulate growth, cell regeneration, and cell reproduction. The increase in applications of growth hormone and the awareness about the effects of growth hormone in the treatment of short stature are major factors propelling the growth of this market. Most of the companies are investing in R&D for developing a growth hormone that has fewer side effects and will be long-acting hormonal therapy. Technical developments in the recombinant human growth hormone are expected to boost the growth of the human growth hormone market over the forecast period.

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Increase in Pituitary Dysfuntion Cases
The pituitary gland produces hormones that the affect growth and functionality of the other glands. It plays an important role in the physical growth of children. Growth Hormones levels rise gradually during childhood and peak during puberty. The dysfunction of pituitary may lead to the abnormal physical growth. According to the estimates of American Society of Clinical Oncology (ASCO) in the United States, 14,230 pituitary gland tumors were diagnosed in 2017. Thus, the rise in pituitary dysfunction cases may drive the growth of the human growth hormone market during the forecast period.
Other factors driving this market are the development of recombinant human growth hormone drugs and increasing adoption of growth hormone drugs as an anti-aging drug.

Key Developments in the Market
• February 2016: Novo Nordisk showcased a multi-million dollar investment with diplomatic delegations from Denmark and the United States, highlighting the company's commitment to maintaining a site in this rural community while ensuring a future medicines supply for serious disease like hemophilia and growth disorders.
• December 2014: OPKO Health Inc. and Pfizer Inc. announced that they have entered into a worldwide agreement for the development and commercialization of OPKO’s long-acting hGH-CTP for the treatment of growth hormone deficiency (GHD) in adults and children

Major Players:
ANKEBIO CO. LTD, EMD SERONO INC., F. HOFFMANN-LA ROCHE, FERRING BV, GENENTECH INC., IPSEN, LILLY USA, LLC, NOVO NORDISK A/S, PFIZER INC., AND TEVA PHARMACEUTICAL INDUSTRIES LTD, amongst others.

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Adverse Effects Associated with Human Growth Hormone
The side effects of this hormone may affect adults more than the younger population. Side effects associated with the use of human growth hormones, such as nerve, muscle, or joint pain, swelling of the arms and legs from fluid retention, growth of facial features, hands, and feet, may hamper the growth of the human growth hormone market over the forecast period. Long-term effects of human growth hormone are unknown.
Other factors that may restrain this market include the stringent regulatory processes.

North America to Dominate this Market
North America dominates the global human growth hormone market. The dominance of the region can be attributed to factors, such as high healthcare expenditure and commercialization of growth hormone by US Food and Drugs Administration (FDA) since last few years. In the United States, approximately 50,000 adults have growth hormone deficiency. Also, about 6,000 new adult patients diagnosed every year. Additionally, many companies are investing in the R&D of the recombinant growth hormone, which may drive the human growth hormone market over the forecast period.

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