Human Growth Hormone Market Outlook Report 2024-2033 | Trends, Analysis, Insights, Overview

The human growth hormone global market report 2024from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.

Human Growth Hormone Market, 2024report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.

Market Size – The human growth hormone market size has grown strongly in recent years. It will grow from $4.33 billion in 2023 to $4.75 billion in 2024 at a compound annual growth rate (CAGR) of 9.8%. The growth in the historic period can be attributed to increasing prevalence of growth disorders, rising awareness about hormone therapies, expanding applications in sports medicine, growing geriatric population, improving healthcare infrastructure.

The human growth hormone market size is expected to see strong growth in the next few years. It will grow to $6.93 billion in 2028 at a compound annual growth rate (CAGR) of 9.9%. The growth in the forecast period can be attributed to emergence of personalized medicine, rising healthcare expenditure globally, increasing adoption of recombinant DNA technology, growing demand for hormone replacement therapies, rising prevalence of endocrine disorders. Major trends in the forecast period include expansion of distribution networks in emerging markets, integration of artificial intelligence in drug development, emphasis on sustainable manufacturing processes, development of long-acting formulations, utilization of combination therapies for enhanced efficacy.

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Scope Of Human Growth Hormone MarketThe Business Research Company’s reports encompass a wide range of information, including:

Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
Drivers: Examination of the key factors propelling market growth.
Trends: Identification of emerging trends and patterns shaping the market landscape.
Key Segments: Breakdown of the market into its primary segments and their respective performance.
Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
Macro Economic Factors: Assessment of broader economic elements impacting the market.

Human Growth Hormone Market Overview

Market Drivers -The rise in awareness of treatment procedures is expected to propel the growth of the human growth hormone market going forward. Treatment procedures are medical interventions designed to alleviate, manage, or cure health conditions or diseases. The rise in awareness of treatment procedures is driven by advancements in medical technology, increased access to information through digital media, and growing public interest in health and wellness. Human growth hormone (HGH) treatments have garnered significant media attention and public interest, highlighting the benefits and potential applications of modern medical interventions, thereby increasing overall awareness of treatment procedures. For instance, in November 2023, according to the report The 2022 National Survey on Drug Use and Health (NSDUH), published by the Substance Abuse and Mental Health Services Administration (SAMHSA), a US-based Department of Health and Human Services, among adolescents aged 12 to 17, in 2021, 40.6% of the 5.0 million adolescents with a past year Major Depressive Episode (MDE) received treatment for depression, while in 2022, 56.8% of the 4.8 million adolescents with a past year MDE received mental health treatment. Therefore, the rise in awareness of treatment procedures is driving the growth of the human growth hormone market.

Market Trends – Major companies operating in the human growth hormone market are increasing their focus on drug development and its approvals to advance the medication offering and to provide better treatment solution. Drug development is a complex and rigorous process that involves multiple stages to ensure a new drug’s safety, efficacy, and quality before it reaches the market. For instance, in June 2023, Pfizer Inc., a US-based biopharmaceutical company, and OPKO Health Inc., a US-based biopharmaceutical and diagnostics company, announced the approval of NGENLA (somatrogon-ghla) by the Food and Drug Administration (FDA). This treatment offers a more convenient dosing regimen and improves patient adherence compared to daily injections. It gives children with growth hormone deficiency the option to reduce the frequency of injections from daily to once a week. The FDA approval was supported by a Phase 3 study showing NGENLA’s non-inferiority compared to once-daily somatropin, with a safety profile comparable to somatropin.

The human growth hormone market covered in this report is segmented –

1) By Product: Liquid, Powder

2) By Brand: Norditropin, Genotropin, Humatrope, Saizen, Omnitrope, Skytrofa, Others Brands

3) By Route Of Administration: Oral, Intravenous, Intramuscular, Subcutaneous

4) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacy, Specialty Pharmacy

5) By Application: Growth Hormone (GH) Deficiency, Adult Growth Hormone (GH) Deficiency, Pediatric Growth Hormone (GH) Deficiency, Turner Syndrome, Idiopathic Short Stature, Prader-Willi Syndrome, Small For Gestational Age, Other Applications

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Regional Insights – North America was the largest region in the human growth hormone market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the human growth hormone market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Key Companies – Major companies operating in the human growth hormone market are Pfizer Inc., Roche Holding AG, Novartis AG, Thermo Fisher Scientific Inc., Eli Lilly and Company, Novo Nordisk A/S, Merck KGaA, Teva Pharmaceutical Industries Ltd., Sandoz International GmbH, Ipsen Pharma, Ferring Holding SA, Endo International, Zydus Lifesciences Limited, Opko Health, LG Life Sciences, EMD Serono Inc., Wockhardt Ltd., JCR Pharmaceuticals Co. Ltd., Genentech Inc., Shanghai United Imaging Healthcare Co. Ltd., SOFAR S.p.A., United Laboratories, Ascendis Pharma, Uni-Pharma S.A., Versartis Inc., Reliance Life Sciences, Anhui Anke Biotechnology (Group) Co. Ltd., Rani Therapeutics

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