Global Human Growth Hormone Market is estimated to reach $4.9 billion in 2019 with a CAGR of 8.5% from 2019 to 2026.
North America is the dominating region in the global market owing to the presence of a well-established healthcare sector, government initiatives for rare diseases, and favorable reimbursement scenario. In addition, the developing healthcare infrastructure, rising awareness about rare diseases, and growing healthcare expenditure in countries such as India and China are expected to contribute to the market growth in the Asia Pacific region.
Rising Prevalence Diseases Related to Growth Hormone Deficiency and Strong Product Pipeline is Anticipated to Propel the Growth of the Global Human Growth Hormone Market at A CAGR of 8.5% During the Forecast Period, 2019-2026
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Strong product pipeline and increasing R&D activities for the development of new growth hormone products are driving the market growth. Market players such as Eli Lily and Company, Ferring Pharmaceuticals, Ascendis Pharma A/S, Teva Pharmaceutical Industries Pvt Ltd., and Sanofi S.A. are involved in R&D activities for the development of new growth hormone therapies. For instance, Pfizer Inc. and OPKO Health Inc. stated that its Phase III study assessing somatrogon administered weekly once in pre-pubertal children with growth hormone deficiency achieved its primary endpoint of non-inferiority to GENOTROPIN administered once daily. Moreover, the increasing prevalence of diseases related to growth hormone deficiency is catalyzing the market growth. According to the data published by the National Center for Biotechnology Information (NCBI) in 2014, the prevalence of growth hormone deficiency was assessed to be between 1 in 4,000 and 1 in 3,500 children in the UK. Furthermore, the initiatives undertaken by the public and private institutions to increase awareness about growth hormone deficiencies and treatment is projected to fuel the growth of the market. On the flip side, the high cost associated with human growth hormone therapies and adverse effects related to human growth hormone therapies may hamper the market growth during the assessment period.
The global human growth hormone market has been segmented into application and distribution channel. The application segment has been divided into growth hormone deficiency, idiopathic short stature, Turner syndrome, Prader-Willi syndrome, small for gestational age (SGA), and others. The growth hormone deficiency segment has been sub-segmented into pediatric growth hormone deficiency and adult growth hormone deficiency. By distribution channel, the global market has been segmented into retail pharmacy, hospital pharmacy, specialty pharmacy, and online pharmacy.
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Based on geography, the global human growth hormone market has been divided into North America, Europe, Asia-Pacific, South America, and Middle East & Africa. North America has been classified into the U.S. and Canada. Europe region has been classified into the UK, France, Germany, Italy, and Rest of Europe. Asia-Pacific region has been divided into Japan, India, South Korea, China, and Rest of Asia-Pacific. Furthermore, the South America region has been segmented into Brazil, Mexico, Argentina, and the Rest of South America, while the Middle East & Africa is categorized into GCC Countries, Africa, and the Rest of the Middle East. North America is the dominating region in the global market owing to the presence of a well-established healthcare sector, government initiatives for rare diseases, and favorable reimbursement scenario. In addition, the developing healthcare infrastructure, rising awareness about rare diseases, and growing healthcare expenditure in countries such as India and China are expected to contribute to the market growth in the Asia Pacific region.
Prominent companies functioning in the human growth hormone industry include Sandoz International GmbH (Novartis AG), Pfizer, Inc., Novo Nordisk A/S, Eli Lilly and Company, Merck KGaA, Genentech, Inc. (Roche), Teva Pharmaceutical Industries, Ltd, Ascendis Pharma A/S, and Ferring Pharmaceuticals, Inc. The market is highly consolidated in nature. The key players are undertaking strategies such as product development, partnerships, mergers, and acquisitions for regional expansion and to strengthen their presence in the market.
- In October 2019, Ascendis A/S announced that the European Commission (EC) granted Orphan Designation to TransCon Growth Hormone (hGH). TransCon hGH is a long-acting growth hormone therapy indicated for the treatment of pediatric growth hormone deficiency.
- In January 2018, Ferring Pharmaceuticals Inc. received the U.S. FDA approval for ZOMACTON (Somatropin) for injection 10mg and 5 mg. ZOMACTON is indicated for the treatment of growth hormone deficiency in adults. In addition, it is also indicated for the treatment of pediatric patients having growth failure owing to insufficient production of endogenous growth hormone.
- In July 2018, Ferring Pharmaceuticals Inc. received the U.S. FDA approval for four additional pediatric indications for ZOMACTON (Somatropin).
- In December 2017, Aeterna Zentaris received the U.S. FDA marketing approval for Macrilen (Macimorelin). Macrilen is an oral drug utilized in the diagnosis of patients having adult growth hormone deficiency.
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Human Growth Hormone Market Key Segments:
- Growth Hormone Deficiency
- Pediatric Growth Hormone Deficiency
- Adult Growth Hormone Deficiency
- Idiopathic Short Stature
- Turner Syndrome
- Prader-Willi Syndrome
- Small For Gestational Age (SGA)
By Distribution Channel
- Retail Pharmacy
- Hospital Pharmacy
- Specialty Pharmacy
- Online Pharmacy
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Mr. Ashish Gedamkar
Visit Our Web Site: https://www.esticastresearch.com