Human Growth Hormone Market registering a CAGR of 8.2% over the forecast period 2020 – 2027

Human Growth Hormone Industry Overview

The global human growth hormone market size is expected to reach a value of USD 8.5 billion by 2027, registering a CAGR of 8.2% over the forecast period, according to a new report by Grand View Research, Inc. Introduction of novel therapies, increasing R&D activities, and the rising awareness for the diagnosis and treatment of growth hormone (GH) disorders are expected to drive the market over the forecast period.

Human Growth Hormone Market Segmentation

Grand View Research has segmented the global human growth hormone market on the basis of application, distribution channel, and region:

Based on the Application Insights, the market is segmented into Growth Hormone (GH) Deficiency, Turner Syndrome, Idiopathic Short Stature, Prader-Willi Syndrome, Small for Gestational Age and Other.

• In 2019, the GH deficiency segment held the largest market share and is expected to hold its dominance over the forecast period. This can be attributed to increasing awareness about early diagnosis and treatment of GH deficiency in humans and the introduction of novel drugs in the hGH market.
• Similarly, in January 2018, Ferring Pharmaceuticals Inc. received USFDA approval for its new recombinant HGH, Zomacton (somatropin), indicated for the treatment of adults with GH deficiency. The GH deficiency segment is further segmented into adult GH deficiency and pediatric GH deficiency, wherein the latter is anticipated to dominate the market over the forecast period, owing to the increasing number of pipeline drugs.
• In 2019, Turner’s syndrome accounted for the second-largest market share and is anticipated to emerge as a lucrative segment over the forecast period. This can be attributed to increasing initiatives by various public and private organizations to spread awareness about early diagnosis and treatment of Turner syndrome.

Based on the Distribution Channel Insights, the market is segmented into Hospital Pharmacy, Retail Pharmacy, Online Pharmacy and Specialty Pharmacy.

• The hospital pharmacy segment held a significant share in 2019. This high share is attributed to increasing hospital visits due to rising awareness about GH deficiency among humans and the treatment. According to the Children’s Hospital of Philadelphia (CHOP), the prescriptions for growth hormone has increased from 5.1 patients per 10,000 beneficiaries in 2001 to 14.6 per 10,000 in 2016.
• The online pharmacy segment is expected to register a significant CAGR over the forecast period owing to the high penetration of pharmacies in developed regions such as North America and Europe. Furthermore, the increasing trend of online pharmacies in emerging economies such as India and China is expected to fuel the segment growth in the coming years.

 

Human Growth Hormone Regional Outlook

• North America
• Europe
• Asia Pacific
• Latin America
• MEA

 

Key Companies Profile & Market Share Insights

The major companies operating in the market are adopting mergers, partnerships, and acquisitions as key strategies to expand their geographic reach and provide access to their solutions. For instance, in October 2018, Novo Nordisk and Strongbridge Biopharma signed an agreement to acquire the rights to MACRILEN in the U.S. and Canada. MACRILEN (macimorelin) is the first and only oral drug approved by the FDA for use in adult growth hormone deficiency diagnosis.

Some prominent players in the global human growth hormone include:

• Novo Nordisk A/S
• Pfizer, Inc.
• Eli Lilly and Company
• Sandoz International GmbH (Novartis AG)
• Merck KGaA
• Genentech, Inc. (Roche)
• Ferring Pharmaceuticals
• Teva Pharmaceutical Industries, Ltd
• Ipsen

 

Order a free sample PDF of the Human Growth Hormone Market Intelligence Study, published by Grand View Research.