Growth hormone deficiency is a result when the pituitary glands stop synthesizing enough hormones that have an impact on growth in the human body.
The growth hormone deficiency market is expected to rise at a global CAGR worth 4.2% during the ongoing forecast period of 2020-2027. With the expected growth at such a rate, the market is expected to reach the final market value worth USD 5,243.3 million. Growth hormone deficiency is a result when the pituitary glands stop synthesizing enough hormones that have an impact on growth in the human body.
Covid 19 Analysis Of Growth Hormone Deficiency Market
The novel coronavirus has been successful in creating a huge number of challenges and restraints for various kinds of markets, players, and related manufacturing and production units. A huge decline in the global market products and services has had an impact on the attainable figure of the growth hormone deficiency market revenues. Also, the coronavirus disease has deteriorated the health of people inclusive of the immune system.
Hence, to help the market players move over the ill effects introduced by the coronavirus, the government is increasing its funding to support the research and development activities. Also, prominent market players are developing and launching various products that will help in enhancing its potential during the forecast period of 2021-2028.
Source: MRFR Analysis
One of the major factors that will be playing an excellent role in helping the global growth hormone deficiency market grow at an excellent CAGR and attain a whopping market revenue from 2021 to 2028 is that there has been an increase in the growth hormone deficiency disorders followed by the growth in hormone usage to control aging. Also, there has been a substantial rise in the degree of awareness regarding the treatment procedure that will help increase the neuropsychiatric cases during the expansion of the global market operations. There has been a great introduction of novel therapies and the building of a sturdy pipeline that results in a reliable degree of a surge in the research and development investment and activities that will help the growth hormone deficiency market to propel at a great rate during the forecast period.
But, the global market is related to a high treatment cost and is also, home to fluctuations in drug productivity in various pharmaceutical companies that give rise to many possible restraints for the growth hormone deficiency market during the forecast period that ends in 2028. Also, the market products have many side effects like fluid retention, joint pains, and muscle pain, amongst others. The synthetic growth of hormones is barring the growth hormone deficiency market from growing based on the market predictions.
Based on the data that has been published by the American Academy of Pediatrics, which is a part of the US market in North America, the growth deficiency affects one in every 3,000 to one in every 10,000 children on an average. The market products and services are being widely used by bodybuilders and athletes that act as an anti-aging treatment followed by acting as a performance-enhancing anabolic drug.
The growth hormone deficiency market has been divided all across the globe based on the key brands, applications, route of administration, distribution channel, and region.
Based on the Key Brands
Based on the Applications
The market has been divided all across the globe based on the applications into Prader-Willi syndrome, Turner syndrome, small for gestational age, idiopathic short stature, growth hormone deficiency, and others. The largest market share in the global market is held by the growth hormone deficiency application type.
Based on the Route Of Administration
The market has been divided all across the globe based on the route of administration into oral, intravenous, intramuscular, and subcutaneous.
Based on the Distribution Channel
The market has been divided all across the globe based on the distribution channel into E-commerce websites, clinics, retail pharmacies, and hospital pharmacies.
Based on the Region
The market has been divided in the global market based on the region into North American region, Asia-Pacific region, European region, Latin American region, and the Middle East and African region.
Western Europe Growth Hormone Deficiency Market Share, By Country, 2019 (%)
Source: MRFR Analysis
The growth hormone deficiency market has been divided all across the globe based on the region into the North American region, Asia-Pacific region, European region, Latin American region, and the Middle East and African region. The largest market share in the global market is held by the North American region owing to increasing reimbursement policies coupled with increasing awareness level and initiatives taken by the government drive the market demand in this region. Moreover, the presence of major pharmaceutical companies also drives the market demand.
The second-largest market share in the global growth hormone deficiency market is held by the European region owing to the presence of countries like Sweden, the UK, and Germany that drives the market demand in this region. Moreover, the presence of a well-established technologically advanced healthcare infrastructure coupled with increasing initiatives taken by the government to improve health creates more market demand.
Being the fastest-emerging economy, the third-largest market share in the global growth hormone deficiency market is held by the Asia-Pacific region owing to the presence of countries like India, China, Australia, and North Korea that drive the market demand in this region. The increasing initiative taken by the government to improve healthcare coupled with increasing expenditure on healthcare creates more market demand in this region.
The Latin American region and the Middle East and African region show the least market share due to the presence of low infrastructure in both these regions. Low per capita income is another contributing factor that restricts the growth hormone deficiency market growth in these regions.
The most prominent major key players in the growth hormone deficiency market all across the globe are mentioned below:
This global growth hormone deficiency market research report contains the following components mentioned below:
This market research report contains factors that drive the growth of the growth hormone deficiency market in the global market and the factors that restrict its growth in the global market. The technical analysis in the global market during the forecasted period is mentioned. The impact of COVID 19 on the growth hormone deficiency market in the global market is mentioned. The future growth rate in the growth hormone deficiency market during the review period is estimated and mentioned.
|Market Size||USD 5,243.3 Million|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors and Trends|
|Segments Covered||Brand, Application, Distribution Channel, and Route of Administration|
|Geographies Covered||North America, Europe, Asia-Pacific and Rest of the World (RoW)|
|Key Vendors||Novo Nordisk A/S, Eli Lily and Company, Novartis AG, Merck KGaA, and Pfizer|
|Key Market Opportunities||hormone products|
|Key Market Drivers||
Growth Hormone Deficiency Market is projected to grow at a 4.20% CAGR between 2020-2027.
Growth Hormone Deficiency Market predicted to touch USD 5,243.3Mn by 2027.
Increasing number of individuals suffering from (GHD)are adding market growth.
High cost of treatment and increasing counterfeit products may limit market growth.
The Application included in Growth Hormone Deficiency market are Pediatric Growth Hormone Deficiency, Idiopathic Short Stature, Small For Gestational Age, Turner Syndrome, Adult Growth Hormone Deficiency, Prader Willi Syndrome.