The human growth hormone market will reach USD 14,498.3 million, advancing at a 14.2% compound annual growth rate, by 2030.
This industry will be boosted by the increasing prevalence of hormonal illnesses, coupled with the robust portfolios of biopharma and pharma businesses globally. Furthermore, the rising count of board approvals as well as introductions of advanced therapies and the growing occurrence of Turner syndrome, Noonan syndrome, and Laron syndrome, will also aid the industry expansion.
Moreover, some businesses are broadly conducting R&D to produce a growth hormone that has fewer adverse effects and can be a lasting solution. In addition, this industry is further boosted by the efforts of the private sector and government to increase consciousness regarding growth hormone deficiency.
The long-acting growth hormones category, based on product type, is likely to advance at over 30% rate, during this decade. In several nations, daily recombinant HGH is presently permitted for children and adults suffering from growth hormone deficiency, because of its few adverse effects.
Whereas, daily injections can be stressful as well as uncomfortable for some patients, therefore resulting in poor treatment and non-adherence outcomes.
This has resulted in the progression of numerous LAGH therapies, which enable a lower frequency of injections like monthly, weekly, or bi-weekly. These analogs can enhance patient tolerance, treatment versatility, and acceptance; as a result, they will be favored in the long run.
The growth hormone deficiency category, on the basis of application, is likely to advance at the fastest rate, in the human growth hormone market, during this decade. Growth hormone deficiency is a serious endocrine disorder in which the anterior pituitary cannot secrete sufficient GH. Moreover, the rising regulatory agreements, coupled with the arrival of developed medications are supporting the expansion of this category.
In recent years, the hospital pharmacy category, based on distribution channels, was the major contributor to the industry. This is because of the fondness for recombinant or synthetic variations of this hormone as well as the effortlessness with which it is obtainable at hospital pharmacies.
Additionally, the increasing consciousness of growth hormone shortage, coupled with the rising count of hospital visits for treatment, will further boost this category’s growth.
North America will be a significant contributor to the industry in the coming years. This is because of the increasing aged/senior populace, coupled with the high occurrence of short bowel syndrome, Noonan syndrome, and Turner syndrome.
Furthermore, the continent is home to some major companies in the biopharma & pharma sectors, which are involved in widespread research to produce new treatments.
With the rising count of product approvals and introductions, the human growth hormone industry will progress continuously in the coming years.
SOURCE: P&S Intelligence
