The global human growth hormone (HGH) market is poised for significant growth, driven by increasing prevalence of growth hormone deficiency (GHD) in children and adults, advancements in treatment options, and growing awareness of the benefits of HGH therapy.
Market Overview:
The global human growth hormone market size was valued at USD 5.95 billion in 2023 and is anticipated to grow from USD 6.62 billion in 2024 to USD 15.66 billion by 2032, exhibiting a CAGR of 11.4% during the forecast period. This robust growth reflects the increasing demand for effective treatments for GHD and other conditions that can benefit from HGH therapy.
Some of the major players operating in the global market include:
- AnkeBio Co., Ltd
- Ascendis Pharma
- Eli Lilly and Company
- Ferring Pharmaceuticals
- Genentech, Inc (Roche)
- Merck KGaA
- Novartis AG
- Novo Nordisk
- Pfizer Inc.
- Sandoz International GmbH
Key Market Drivers:
- Increasing Prevalence of GHD: The increasing prevalence of GHD in children and adults, due to various factors such as genetic disorders, pituitary tumors, and head injuries, is a major driver of market growth.
- Advancements in Treatment Options: Advancements in recombinant DNA technology have led to the development of safe and effective recombinant human growth hormone (rhGH) therapies.
- Growing Awareness and Diagnosis: Increased awareness of GHD and improved diagnostic techniques are leading to earlier diagnosis and treatment initiation.
- Expanded Therapeutic Applications: HGH is increasingly being used to treat conditions beyond GHD, such as short bowel syndrome, Turner syndrome, and certain chronic diseases.
𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:
Human Growth Hormone Market, Type Outlook (Revenue, USD Billion, 2019-2032)
- Long-acting
- Short-acting & Intermediate-acting
Human Growth Hormone Market, Route of Administration Outlook (Revenue, USD Billion, 2019-2032)
- Oral
- Parenteral
- Intravenous
- Subcutaneous
- Intramuscular
Human Growth Hormone Market, Age Outlook (Revenue, USD Billion, 2019-2032)
- Pediatric
- Adult
Human Growth Hormone Market, Indication Outlook (Revenue, USD Billion, 2019-2032)
- Growth Hormone Deficiency
- Turner Syndrome
- Idiopathic Short Stature
- Prader-Willi Syndrome
- Others
Human Growth Hormone Market, Distribution Channel Outlook (Revenue, USD Billion, 2019-2032)
- Hospital Pharmacies
- Retail Pharmacies & Drug Stores
- Online Pharmacies
The research study includes segmental analysis that divides the market into distinct groups or segments based on common characteristics. With market segmentation, businesses can identify specific customer groups that are more likely to be interested in specific products or services. Also, it enables these businesses to focus their marketing efforts and resources more efficiently, leading to higher conversion rates and improved return on investment. Furthermore, segmentation analysis helps companies develop personalized products or services, which can result in increased customer loyalty and improved customer satisfaction.
𝐄𝐱𝐩𝐥𝐨𝐫𝐞 𝐓𝐡𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐂𝐨𝐦𝐩𝐫𝐞𝐡𝐞𝐧𝐬𝐢𝐯𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐇𝐞𝐫𝐞:
https://www.polarismarketresearch.com/industry-analysis/human-growth-hormone-market
Recent Developments:
- Novo Nordisk Expands Sogroya Indication: In April 2023, Novo Nordisk announced the approval of a new indication for Sogroya (somapacitan-beco) injection for the treatment of growth failure in children aged 2.5 years and older due to insufficient endogenous growth hormone secretion. This approval expands the use of Sogroya and provides a new treatment option for children with GHD.
Table of Contents:
- Global Human Growth Hormone Market Insights
4.1. Human Growth Hormone – Industry Snapshot
4.2. Human Growth Hormone Market Dynamics
4.2.1. Drivers and Opportunities
4.2.1.1. Rising Prevalence of Growth Hormone Deficiency and Other Disorders
4.2.1.2. Growing Number of Research & Development Activities
4.2.2. Restraints and Challenges
4.2.2.1. Side Effects and Safety Concerns
4.3. Porter’s Five Forces Analysis
4.3.1. Bargaining Power of Suppliers (Moderate)
4.3.2. Threats of New Entrants: (Low)
4.3.3. Bargaining Power of Buyers (Moderate)
4.3.4. Threat of Substitute (Moderate)
4.3.5. Rivalry among existing firms (High)
4.4. PESTLE Analysis
4.5. Human Growth Hormone Industry Trends
4.6. COVID-19 Impact Analysis
5. Global Human Growth Hormone Market, by Type
5.1. Key Findings
5.2. Introduction
5.2.1. Global Human Growth Hormone Market, by Type, 2019-2032 (USD Billion)
5.3. Long-acting
5.3.1. Global Human Growth Hormone Market, by Long-acting, by Region, 2019-2032 (USD Billion)
5.4. Short-acting & Intermediate-acting
5.4.1. Global Human Growth Hormone Market, by Short-acting & Intermediate-acting, by Region, 2019-2032 (USD Billion)
6. Global Human Growth Hormone Market, by Route of Administration
6.1. Key Findings
6.2. Introduction
6.2.1. Global Human Growth Hormone Market, by Route of Administration, 2019-2032 (USD Billion)
6.3. Oral
6.3.1. Global Human Growth Hormone Market, by Oral, by Region, 2019-2032 (USD Billion)
6.4. Parenteral
6.4.1. Global Human Growth Hormone Market, by Parenteral, by Region, 2019-2032 (USD Billion)
6.4.2. Intravenous
6.4.2.1. Global Human Growth Hormone Market, by Intravenous, by Region, 2019-2032 (USD Billion)
6.4.3. Subcutaneous
6.4.3.1. Global Human Growth Hormone Market, by Subcutaneous, by Region, 2019-2032 (USD Billion)
6.4.4. Intramuscular
6.4.4.1. Global Human Growth Hormone Market, by Intramuscular, by Region, 2019-2032 (USD Billion)
Conclusion:
The global human growth hormone market is poised for continued growth, driven by the increasing prevalence of GHD, advancements in treatment options, and growing awareness of the benefits of HGH therapy. Continued research and development efforts, along with the development of new and improved therapies, will be crucial for further growth and improving the quality of life for individuals with GHD and other conditions that can benefit from HGH treatment.
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