Growth Hormone Market size worth $ 6.22 Billion, Globally, by 2028 at 6.70% CAGR: Verified Market Research®

The demand for the Growth Hormone market is growing at a rapid pace, mainly due to increasing cases of pituitary dysfunction leading to deficiency of the growth hormone

JERSEY CITY, N.J., Oct. 25, 2021 /PRNewswire/ -- Verified Market Research recently published a report, "Growth Hormone Market" By Application (Growth Hormone Deficiency, Turner Syndrome, Idiopathic Short Stature), By Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Online Pharmacy), By Route of Administration (Intravenous, Subcutaneous, Intramuscular), and By Geography. According to Verified Market Research, the Global Growth Hormone Market size was valued at USD 3.68 Billion in 2020 and is projected to reach USD 6.22 Billion by 2028, growing at a CAGR of 6.70% from 2021 to 2028.

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Global Growth Hormone Market Overview

The demand for the Growth Hormone market is growing at a rapid pace, mainly due to increasing cases of pituitary dysfunction leading to deficiency of the growth hormone. According to the statistics revealed by Oregon Health & Science University growth hormone deficiency is rare however, it affects around 50,000 U.S. adults. The higher or lower level of human growth hormone impacts the growth of the individuals, wherein the low level shows the risk of higher amount fat accumulation throughout the body and increased level lead to various medical conditions such as gigantism, acromegaly, muscle-wasting disease, and short bowel syndrome.

Increasing awareness regarding the treatment of growth hormone deficiency is the prominent factor, driving the growth of the growth hormone market. Large pharmaceutical companies are continuously conducting research and development activities in combination with trials for the development of novel therapies, which is projected to push the growth of the growth hormone market. Companies are introducing new therapies and treatments to maintain the GH level of the affected individuals.

For instance, in August 2020, U.S. Food and Drug Administration (US FDA) approved Novo Nordisk, Inc.'s Sogroya (somapacitan), as the first human growth hormone (HGH) therapy that adult patients only take once a week by injection under the skin. In addition to this, favourable support by the government of various countries to promote awareness regarding GH is pushing the market growth.

Key Developments in Growth Hormone Market

• In September 2021, Biocorp and Merck joined hands for the development and global distribution of a specific version of the Mallya device for applications in the field of HGH.
• In August 2020, U.S. Food and Drug Administration (US FDA) approved Novo Nordisk, Inc.'s Sogroya (somapacitan), as a first human growth hormone (HGH) therapy that adult patients only take once a week by injection under the skin.

The major players in the market are Anhui Anke Biotechnology (Group) Co., Ltd, Biopartners GmbH, Eli Lilly and Company, GeneScience Pharmaceuticals Co., Ltd, Ipsen S.A., Merck KgaA, Novartis AG, Novo Nordisk A/S, Pfizer Inc., and Roche Holdings, Inc.

Verified Market Research has segmented the Global Growth Hormone Market On the basis of Application, Distribution Channel, Route of Administration, and Geography.

• Growth Hormone Market, By Application
• Growth Hormone Deficiency
• Turner Syndrome
• Idiopathic Short Stature
• Prader-Willi Syndrome
• Others
• Growth Hormone Market, By Distribution Channel
• Hospital Pharmacy
• Retail Pharmacy
• Online Pharmacy
• Clinics
• Growth Hormone Market, By Route of Administration
• Intravenous
• Subcutaneous
• Intramuscular
• Oral
• Growth Hormone Market by Geography
• North America
• U.S
• Canada
• Mexico
• Europe
• Germany 
• France
• U.K
• Rest of Europe
• o Asia Pacific
• China
• Japan
• India
• Rest of Asia Pacific
• ROW
• Middle East & Africa
• Latin America

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Top 10 human growth hormone companies treating growth hormone deficiency

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