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Human Growth Hormone Market Analysis, Trends, Size And Insights 2024 To 2033
Human Growth Hormone Market
As per the report, the human growth hormone market size has grown strongly in recent years. It will grow from $4.33 billion in 2023 to $4.75 billion in 2024 at a compound annual growth rate (CAGR) of 9.8%. The human growth hormone market size is expected to see strong growth in the next few years. It will grow to $6.93 billion in 2028 at a compound annual growth rate (CAGR) of 9.9%.
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Increased Awareness Of Treatment Procedures Boosts Human Growth Hormone Market
The rise in awareness of treatment procedures is expected to propel the growth of the human growth hormone market going forward. Treatment procedures are medical interventions designed to alleviate, manage, or cure health conditions or diseases. The rise in awareness of treatment procedures is driven by advancements in medical technology, increased access to information through digital media, and growing public interest in health and wellness. Human growth hormone (HGH) treatments have garnered significant media attention and public interest, highlighting the benefits and potential applications of modern medical interventions, thereby increasing overall awareness of treatment procedures. For instance, in November 2023, according to the report The 2022 National Survey on Drug Use and Health (NSDUH), published by the Substance Abuse and Mental Health Services Administration (SAMHSA), a US-based Department of Health and Human Services, among adolescents aged 12 to 17, in 2021, 40.6% of the 5.0 million adolescents with a past year Major Depressive Episode (MDE) received treatment for depression, while in 2022, 56.8% of the 4.8 million adolescents with a past year MDE received mental health treatment. Therefore, the rise in awareness of treatment procedures is driving the growth of the human growth hormone market.
Innovative Long-Acting Growth Hormone Treatment Gains FDA Approval Enhancing Pediatric Care
Major companies operating in the human growth hormone market are increasing their focus on drug development and its approvals to advance the medication offering and to provide better treatment solution. Drug development is a complex and rigorous process that involves multiple stages to ensure a new drug's safety, efficacy, and quality before it reaches the market. For instance, in June 2023, Pfizer Inc., a US-based biopharmaceutical company, and OPKO Health Inc., a US-based biopharmaceutical and diagnostics company, announced the approval of NGENLA (somatrogon-ghla) by the Food and Drug Administration (FDA). This treatment offers a more convenient dosing regimen and improves patient adherence compared to daily injections. It gives children with growth hormone deficiency the option to reduce the frequency of injections from daily to once a week. The FDA approval was supported by a Phase 3 study showing NGENLA's non-inferiority compared to once-daily somatropin, with a safety profile comparable to somatropin.
The human growth hormone market covered in this report is segmented -
1) By Product: Liquid, Powder
2) By Brand: Norditropin, Genotropin, Humatrope, Saizen, Omnitrope, Skytrofa, Others Brands
3) By Route Of Administration: Oral, Intravenous, Intramuscular, Subcutaneous
4) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacy, Specialty Pharmacy
5) By Application: Growth Hormone (GH) Deficiency, Adult Growth Hormone (GH) Deficiency, Pediatric Growth Hormone (GH) Deficiency, Turner Syndrome, Idiopathic Short Stature, Prader-Willi Syndrome, Small For Gestational Age, Other Applications
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Major companies operating in the human growth hormone market are Pfizer Inc., Roche Holding AG, Novartis AG, Thermo Fisher Scientific Inc., Eli Lilly and Company, Novo Nordisk A/S, Merck KGaA, Teva Pharmaceutical Industries Ltd., Sandoz International GmbH, Ipsen Pharma, Ferring Holding SA, Endo International, Zydus Lifesciences Limited, Opko Health, LG Life Sciences, EMD Serono Inc., Wockhardt Ltd., JCR Pharmaceuticals Co. Ltd., Genentech Inc., Shanghai United Imaging Healthcare Co. Ltd., SOFAR S.p.A., United Laboratories, Ascendis Pharma, Uni-Pharma S.A., Versartis Inc., Reliance Life Sciences, Anhui Anke Biotechnology (Group) Co. Ltd., Rani Therapeutics
Contents of the report:
1. Executive Summary
2. Human Growth Hormone Market Report Structure
3. Human Growth Hormone Market Trends And Strategies
4. Human Growth Hormone Market - Macro Economic Scenario
5. Human Growth Hormone Market Size And Growth
…..
27. Human Growth Hormone Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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