Human Growth Hormone (HGH) Market to Pave Path for Augmented Revenue during the Period between 2019-2028

Albany, US, 2019-Sep-16 — /EPR Network/ —Human growth hormone, also known as somatotropin or growth hormone, helps in the growth of all the essential tissues of the body including bones. It is one of the most essential hormones required by a human body. Human growth hormone is produced and secreted by somatotrophs, anterior pituitary cells that secrete almost 1-2 milligrams of hormones every day. Synthetic human growth hormone was developed in the 1980s and was approved by FDA for use in children and adults. As per a study conducted by the Partnership Attitude Tracking Study (PATS), the usage of synthetic human growth hormone by teenagers has witnessed an increase of 120% from 2012 to 2013. Human growth hormone spurs muscle strength, growth, and exercise performance. Lower levels ofhuman growth hormonecan increase the risk of diseases, hamper quality of life and initiate fat gain. Human growth hormone helps avoid several disorders, which include growth hormone deficiency, Turner syndrome, Prader-Willi syndrome, Noonan syndrome, SHOX gene haploinsufficiency, idiopathic short stature, Creutzfeldt-Jakob disease, and chronic kidney diseases.

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Human Growth Hormone (HGH) Market: Drivers

Long-acting human growth hormone formulations are consistently developing. Increase in the prevalence of human growth hormone deficiency, HIV/AIDS, cancer, Turner syndrome, SHOX gene haploinsufficiency, skeletal dysplasia, as well as increase in healthcare expenditure and the availability of advanced recombinant DNA technology are among factors expected to drive the human growth hormone market over the forecast period.

However, costs of the R&D required for human growth hormone are extremely high. The high cost of treatment is another factor restraining the growth of the human growth hormone market. Adverse effects of recombinant human growth hormones, which include joint & muscle pain, swelling in the legs & arms, increased insulin resistance, and carpal tunnel syndrome, are also expected to hamper the growth of the human growth hormone market over the forecast period.

Human Growth Hormone (HGH) Market: Key Players

Some of the major market participants operating in the global Human Growth Hormone (HGH) market are Novo Nordisk; Eli, Lilly and company; Merck & Co., Inc.; Pfizer Inc., Genentech, Inc.; Ferring Holding SA; Sandoz International GmbH; and Ipsen.

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Pfizer signed an agreement with OPKO for the developing and commercializing the hGH-CTP human growth hormone for the treatment of adults and children. Novo Nordisk, in January 2015, received U.S. FDA approval for an injection pen, Norditropin FlexPro, for patients suffering from growth hormone disorders. The companies are competing for the production of long-acting drugs with lower adverse effects.

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

Human Growth Hormone (HGH) Market: Regional Outlook

North America’s human growth hormone market is anticipated to grow the fastest over the forecast period owing to the presence of local players in the market, easy availability, and better affordability for human growth hormone drugs and hormonal therapy. Commercialization of human growth hormone drugs by the US. FDA over the years is also one of the vital factors boosting the human growth hormone market. The Asia-Pacific human growth hormone market is also expected to grow significantly over the forecast period because of improved healthcare expenditure, large patient pool, and increasing investments by market players. Increasing awareness about the treatment of short stature by human growth hormone is also propelling the human growth hormone market.

Human Growth Hormone (HGH) Market: Overview

Growth deficiency syndrome is expected to contribute a major share in the human growth hormone market owing to the increased incidence of pituitary dysfunctioning and growing support for the R&D of growth hormone drugs. Turner syndrome also plays a significant role in the human growth hormone market. A large number of patients suffering from Turner syndrome are treated by growth hormones for delayed sexual and physical development. US. FDA has approved human growth hormone for the treatment of Turner syndrome in 1996. The others segment includes chronic kidney diseases, Down syndrome, skeletal dysplasia, Noonan syndrome, SHOX gene haploinsufficiency, and several other indications that are anticipated to boost the human growth hormone market.

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