Human Growth Hormone (HGH) Market - Hospital Pharmacy Segment Accounts for the largest share In the Market
The human growth hormone is also referred to as somatotropin. It is a peptide hormone that is produced by the pituitary gland in the human body to regulate cell growth, metabolism, cell regeneration & repair, and reproduction for the development of the body. The growth hormone in the human body should necessarily be at the optimum levels for normal growth and development of the body. However, it is regulated by several factors including lower glucose levels, stress, sleep, and exercise levels. It assists in controlling sugar & fat metabolism, body fluids, muscle & bone growth, controlling body movements, and recovery from injury. It boosts the performance and strength of human muscles. However, the inflicted levels of growth hormones in the lower or higher range affect the quality of life and thereby significantly boost the risk of various diseases like poor bone density, growth hormone deficiency, or high cholesterol levels. The lower levels of such hormones promote the risk of fat accumulation in the body while the higher levels may potentially cause gigantism or acromegaly in children.
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Global Human Growth Hormone (HGH) Market: Growth Factors
Several factors like the presence of a strong pipeline, extensive research and development activities, along with growing product portfolio of prominent market companies are some of the major factors fuelling the growth of the global human growth hormone (HGH) market. The natural slowdown production process of such hormones significantly propels the interest of people in synthetic growth hormone therapy all across the globe. The growing awareness among people regarding the effectiveness of growth hormone further promulgates the demand for cost-effective growth hormone therapy globally. However, the growing prevalence of severe chronic diseases like pituitary dysfunction, kidney diseases, and growth retardation issues are likely to vigorously trigger the growth of the global human growth hormone (HGH) market during the forecast period. However, the rise in compliance for such hormonal formulations is also complimenting the growth. The growing funding from the government as well as key leaders in the market for the development of novel therapies for growth hormone will create many lucrative growth opportunities in the market globally in the forthcoming years.
Global Human Growth Hormone (HGH) Market: Segmentation
The global human growth hormone (HGH) market can be segmented into the distribution channel, application, and region.
By distribution channel, the market can be segmented into specialty pharmacy, online pharmacy, retail pharmacy, and hospital pharmacy. The hospital pharmacy segment accounts for the largest share in the global human growth hormone (HGH) market due to the increasing number of patients visiting hospitals for the treatment of growth hormonal dysfunctions and associated diseases.
By application, the market can be segmented into small for gestational age, Prader Willi syndrome, idiopathic short stature, Turner syndrome, growth hormone deficiency, and others. The growth hormone deficiency segment accounts for the largest share in the global human growth hormone (HGH) market due to the growing awareness among people regarding the early diagnosis and successful treatment of such deficiency in human beings. Moreover, the emergence of novel therapies in the market for human growth hormone dysfunctions is likely to further escalate the growth of the segment in the forthcoming years.
Global Human Growth Hormone (HGH) Market: Regional analysis
North America accounts for the largest share in the global human growth hormone (HGH) market due to the growing initiatives from the government to lower the burden of human growth hormone dysfunction diseases in the region. Moreover, the presence of robust healthcare infrastructure in the region will further trigger the growth of the regional market in the forthcoming years.
Asia Pacific is expected to register significant growth in the forthcoming years due to the presence of prominent market players in the region.
Global Human Growth Hormone (HGH) Market: Competitive Players
Some of the significant players in the global human growth hormone (HGH) market are F. Hoffmann-La Roche, AnkeBio Co. Ltd, Ipsen, Ferring BV, Novartis AG, Eli Lilly and Company, Teva Pharmaceutical Industries Ltd, Pfizer Inc, Merck and Co, Inc, and Novo Nordisk.
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