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.
The offer in this portion accompanies many open doors including fabricating items, appropriation, retail, and showcasing administrations. Broad rounds of essential and far reaching optional exploration have been utilized by the examiners at Fact.MR to show up at different assessments and projections for Demand of Human Growth Hormone (HGH) Market both at worldwide and provincial levels.
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Market Players: –
Some of the major market participants operating in the global Human Growth Hormone (HGH) market are
- Novo Nordisk
- Lilly and company
- Merck & Co. Inc.
- Pfizer Inc.
- Genentech Inc.
- Ferring Holding SA
- Sandoz International GmbH
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.
Human Growth Hormone (HGH) Market: Segmentation
The global Human Growth Hormone (HGH) market can be segmented on the basis of application type, end users, and geography.
Based on application type, the global Human Growth Hormone (HGH) market is segmented as:
- Growth hormone deficiency
- Idiopathic short stature
- Turner syndrome
- Small for gestational age
- Prader-Willi syndrome
Based on end users, the global Human Growth Hormone (HGH) market is segmented as:
Based on geography, the global Human Growth Hormone (HGH) market is segmented as:
- North America
- Latin America
- CIS & Russia
- Middle East & Africa
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.
Regional analysis includes
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Argentina, Chile, Peru, Rest of LATAM)
- EU – (Germany, France, Italy, Spain), UK, BENELUX (Belgium, Netherlands, Luxemburg), NORDIC (Norway, Denmark, Iceland, Sweden), Eastern Europe (Poland, Ukraine, Czech Rep. etc.), Rest of Europe
- CIS & Russia
- Asia Pacific Excluding Japan (Greater China, India, S. Korea, ASEAN Countries, Rest of APEJ)
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint.