This study covers the market dynamics and trends in major countries that are expected to influence the current market scenario and future status of the Global Human Growth Hormone Market over the forecast period.
The report titled as “Human Growth Hormones Market” Research Report implements an exhaustive study on MarketResearchFuture.com and This Report Cover market size, growth rate, market Dynamics and Factor Analysis. And also cover the other information such as Human Growth Hormones Market trends, Top players and Forecast till 2023.
Segments for Global Human Growth Hormones Market
The global human growth hormone market has been segmented on the basis of brand, application, route of administration, distribution channel, and region.Also Read :https://www.medgadget.com/2019/09/human-growth-hormone-market-size-share-2019-global-analysis-by-growth-trends-drugs-key-players-region-with-global-industry-forecast-to-2023.html
The market, based on brand, has been segmented into Genotropin, Humatrope, Norditropin, Omnitrope, Sainzen, and others. Among these, the Norditropin segment has been expected to account for the largest market share and is projected to record the highest CAGR of 11.81% during the assessment period
Based on the application, the market has been segmented into growth hormone deficiency, idiopathic short stature, Prader-Willi syndrome, small for gestational age, Turner syndrome, and others. The growth hormone deficiency segment has been assessed as the largest segment in terms of market value and is anticipated to grow at the highest CAGR of 7.07% during the forecast period.
On the basis of the route of administration, the market has been segmented into intramuscular, intravenous, subcutaneous, and oral. The subcutaneous segment has been assessed to record the highest market share the highest CAGR among the route of administration segment, and account for 39% of the market share during the forecast period.
Based on the distribution channel, the human growth hormone market has been segmented into clinics, e-commerce websites, hospital pharmacies, and retail pharmacies. The hospital pharmacies segment has been assessed to reach a valuation of USD 2,473.21 million, growing at the highest CAGR in this segment over the forecast period.
Based on the region, the global human growth hormone market has been segmented into the Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA).
Market Drivers
Market Research Future (MRFR’s) latest study reveals that the global market for human growth hormone will surge at an impressive CAGR of 7.50% during the review period (2018-2023). Growth hormone deficiency falls under the list of endocrine conditions. Growth hormone deficiency is prevalent across the globe and the reasons for the condition usually vary from person to person. Though the condition is rare, its prevalence rate has increased to a noteworthy level in recent times. In many cases, brain injury has been identified as a primary cause of growth hormones deficiency. Low level of growth hormone secretion can lead to altered body composition, osteoporosis, insulin resistance, lipid abnormalities, reduced energy levels, and reduced muscle strength. Low growth hormone secretion is usually an issue that starts at a young age and if not addressed promptly, may have major implications in later stages of life.
The human growth hormone (HGH) is an essential part of bodily functions and is one of the most important hormones produced by the pituitary gland in the human body and is responsible for the growth in infants and adults as well. The deficiency of the human growth hormone in the body can create severe repercussions, and in order to avoid the risks, medical professionals have now developed synthetically produced and administered human growth hormone.
Technological advancements in the healthcare sector along with rising investment in research and development, increasing awareness related to hormone therapy, and the growing prevalence of growth hormone deficiency are the factors influencing the growth of the global market for human growth hormone.
Competitive Analysis:
The players in the global human growth hormones market are aiming towards business expansion by increasing the research and development expenditure for introducing highly effective products in the global market. Increasing focus on strategic mergers and acquisitions is aiding the players in sustaining the competitive environment of the global human growth hormones market.
The key players identified in the global market for human growth hormone are Anhui Anke Biotechnology Co. Ltd., BioPartners GmbH, Eli Lilly and Company, Ipsen S.A., GeneScience Pharmaceuticals Co. Ltd., Genetech Inc., Lifetech Labs, Merck KGaA, Novo Nordisk A/S, Novartis AG, Pfizer Inc, and Zhongshan Hygene Biopharm Co. Ltd.
Regional Analysis for Global Human Growth Hormones Market
The Americas have been accounted for around 50% of the global human growth hormone market owing to the growing prevalence of the deficiency of the growth hormone, and Turner syndrome in the region. North America has been assessed to dominate the market share over the forecast period, due to the presence of advanced economies such as the U.S. and Canada, with established healthcare sectors and affordable hormonal therapy.
Europe is the second largest regional human growth hormone market, owing to the presence of significant market players, and favorable government initiatives towards superior healthcare facilities for the consumers.
The Asia Pacific is the fastest rising region in the global human growth hormone market and has been assessed to grow exponentially at a CAGR of 7.70% over the forecast period, owing to influential factors such as the increase in expenditure by the government towards healthcare sector to provide consumers with proper medical facilities. Additionally, international market players have expressed keen interest in contributing to the growing development in the Asia Pacific region by investing in the potential markets for various domains, including the regional market for human growth hormone.
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