Human Growth Hormone Market Top Key Players Review 2022 | Anhui Anke Biotechnology Co. Ltd., Lifetech Labs, Pfizer Inc., Genetech Inc., Novartis AG, Zhongshan Hygene Biopharm Co. Ltd | Fast Forward Research

Market Research Future (MRFR) believes that the human growth hormone market will soar at a decent rate of 7.50% during the appraisal period (between 2018 and 2023).

Primary Boosters and Deterrents

The American Academy of Pediatrics reveals that human growth hormone deficiency is rare and between 3,000 and 10,000 kids in the United States are currently suffering from the condition in the United States. At present, hGH is majorly abused by adults as an anti-aging drug and a performance-elevating drug by athletes and bodybuilders. But the USFDA is working on regulating the use of HGH and does not grant approval for its use as an anti-aging or a performance-elevating drug.

Extensive product pipeline combined with exhaustive research and development (R&D) activities to come up with novel advanced growth hormone therapies contribute significantly to the market growth. Moreover, the emerging popularity of online pharmacies, especially in developing countries like China, Japan and India should also fuel the market growth over the ensuing period.

On the competitive front, many of the established firms are focusing on adopting strategies including partnerships, acquisitions and mergers to foster their geographic presence and widening their customer base. Partnerships and collaborations along with the large—scale investments for the development of long-acting products with reduced side effects are also major focus areas among the players, which could translate into rapid market growth in the following years.

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Key Players

The market leaders profiled in the MRFR study include Novo Nordisk A/S, Anhui Anke Biotechnology Co. Ltd., Lifetech Labs, Pfizer Inc., Genetech Inc., Novartis AG, Zhongshan Hygene Biopharm Co. Ltd., Eli Lilly and Company, Merck KGaA, Ipsen S.A, GeneScience Pharmaceuticals Co. Ltd., Biopartners GmbH, to mention a few.

Segmental Analysis

The MRFR report extensively details the global market, with respect to brand, route of administration, application, and distribution channel.

Brand-wise, the major segments are omnitrope, genotropin, norditropin, sainzen, mumatrope, and others. Out of these, the lead has been taken by the norditropin segment, which will continue to remain lucrative throughout the review timeframe. The segment touched USD 1494.98 Mn in 2017 and is on track to exhibit a double-digit growth rate in the years ahead.

The applications of human growth hormones are idiopathic short stature, prader-willi syndrome, growth hormone deficiency, turner syndrome, small for gestational age, and others. The growth hormone deficiency segment commands the highest share in the worldwide market and is presumed to capture a growth rate of 7.07% during the appraisal period.

The global industry, in terms of the route of administration, caters to intramuscular, subcutaneous, oral and intravenous. The leading spot has been secured by the subcutaneous segment, having seized a share of over two-third of the global market in the year 2017. MRFR experts project the segment to retain its attractiveness throughout the given timeline.

The key distribution channels mentioned in the MRFR report are clinics, hospital pharmacies, e-commerce websites and retail pharmacies. In 2017, the hospital pharmacies segment owned a share of more than 40% in the global industry and can experience significant growth in the years ahead.

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Regional Analysis

The regional analysis of the human growth hormones market observes that the Americas region is responsible for approximately 50% of the human growth hormone market globally owing to the occurrence of growth hormone deficiency and Turner syndrome in the region. The advanced countries in the region such as Canada and the US have reasonably inexpensive hormone therapy, and a firm healthcare system are the main factors motivating the growth of the Americas human growth hormone market. Furthermore, the healthcare sector in the region has increased government funding which is anticipated to inspire the market development. The European region with its similar growth pattern to the US is responsible for the next major market in the human growth hormone market. Due to the noteworthy market players in the Americas and the European region.The Asia Pacific is expected to observe the swiftest growth at the highest CAGR of 7.70%. The rising healthcare spending which caters to the huge patient population present in the region is anticipated to be an important factor motivating the regional market. The international market contenders are gradually identifying the capability this region denotes and are intensifying market activities in the APAC region. Nations such as Japan, China, and India are responsible for the most substantial country level markets in the APAC region. HGH and its usage for treating short stature is viewed positively which is expected to increase the demand for growth hormone therapy.
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