Pune, India, March 2021, MRFR Press Release/- Market Research Future has published a Cooked Research Report on the Global Growth Hormone Deficiency Market.
Market Highlights
Global Growth Hormone Deficiency Market is expected to have a market value of USD 5,243.3 Million by 2027.
Growth Hormone Deficiency (GHD) is a rare type of disorder where the pituitary gland produces an insufficient secretion of growth hormone in the body. GHD can be congenital or developed in a later stage.
Segment Analysis
Global Growth Hormone Deficiency Market is classified into a brand such as Norditropin, Genotropin, Humatrope, Saizen, Omnitrope, and others. In addition, the global growth hormone deficiency market, by application, is segmented into pediatric growth hormone deficiency, Turner syndrome, Idiopathic Short Stature (ISS), small for gestational age, adult growth hormone deficiency, Prader-Willi syndrome, and others. By route of administration, the market is segmented into subcutaneous, intravenous, and intramuscular. The global growth hormone market is segmented by the distribution channel into hospital pharmacies, retail pharmacies, online pharmacies, and specialty pharmacies.
Regional Analysis
Global Growth Hormone Deficiency Market, based on region, has been divided into the Americas, Europe, Asia-Pacific, and Rest of the World.
The Americas is classified into North America. North America is further categorized into the US Canada and Latin America. The growth hormone deficiency market in the US is expected to hold a major share owing to the growing prevalence of growth hormone deficiency and Turner syndrome, affordability of costly hormonal therapy, and the presence of a well-established healthcare sector.
The European growth hormone deficiency market is categorized into Germany, the UK, France, Italy, Spain, and the rest of Europe. The European market is expected to be the second-largest growth hormone deficiency market. This is attributed to the rising occurrences of growth hormone deficiencies, increasing preference for growth hormones in the treatment of Idiopathic Short Stature (ISS), and rising government expenditure for the healthcare sector. According to the data suggested by the Eurostat, it is observed that among the EU member states, healthcare expenditure in France and Germany was equivalent to 11.3% of the GDP in 2017, a larger share than any other EU member state. The next highest ratio was of Sweden (11.0%).
Asia-Pacific is anticipated to be the fastest-growing market owing to the growing healthcare expenditure and the presence of a large patient pool. Growing investments in the region due to increasing demand are expected to contribute to the market growth. For instance, in March 2017, Novo Nordisk initiated a phase 3 clinical trial of somapacitan (NNC0195-0092) for Adult Growth Hormone Deficiency (AGHD) in Japan. Additionally, the rising awareness about the efficiency of growth hormone therapy in short stature is likely to increase the demand for growth hormone products in this region.
The Middle East and Africa region includes the Middle East & Africa. Increasing healthcare expenditure, rising investments by major market players, and growing patient pool in this region are attributing to the market growth. For instance, according to the International Trade Administration, health expenditure in the UAE was USD 17 billion in 2017 and is likely to reach USD 21.3 billion by 2021.
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Key Players
MRFR recognizes the following companies as the Key Players in the Global Growth Hormone Deficiency Market— Novo Nordisk A/S, Eli Lily and Company, Novartis AG, and Merck KGaA, and Pfizer.
Key Findings of the Study