Human growth hormone is responsible for growth and regeneration among humans and also stimulates cell reproduction. However, deficiency of growth hormone is constantly on the rise. Advancements in technology including development of recombinant human growth hormone by the major players is boosting the market growth. Also, the leading companies are focusing on increasing their production capacity in order to increase supply in the rural areas.

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As per the latest report by Transparency Market Research (TMR), the global market for human growth hormone is likely to see strong growth in the coming years. The market is estimated to increase to 6.2% CAGR. The global market for human growth hormone is also estimated to generate US$ 5,261.5 million revenue by 2026 end.

Subcutaneous as Route of Administration is likely to Witness Substantial Growth

Among various route of administration, subcutaneous as the route of administration is likely to witness substantial growth between 2017 and 2026. Subcutaneous as the route of administration is estimated to surpass US$ 1,600 million revenue by 2026 end. The preference for the subcutaneous method is increasing as it leads to the significant rise in growth rates and low incidence of antibody development. Moreover, subcutaneous route is highly preferred for chronic growth hormone therapy.

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Hospital Pharmacy to be the Largest Distribution Channel in the Global Market for Human Growth Hormone  

Compared to the various distribution channels, hospital pharmacy is likely to emerge as one of the largest distribution channels. By the end of the forecast period, hospital pharmacy is projected to bring in close to US$ 2,200 million revenue. Owing to the high cost of human growth hormone drugs, a lot of hospital pharmacies are distributing drugs. Also, high investment for development of advanced healthcare centers and hospitals by governments in various countries is also driving the distribution of growth hormone drugs through hospital pharmacy.

Growth Hormone Deficiency to Witness Highest Growth based on Indication

Growth hormone deficiency is likely to account for the largest market share in terms of value. Towards the end of 2026, growth hormone deficiency is estimated to create an incremental opportunity of more than US$ 1,100 million between 2017 and 2026. Pituitary tumors, metabolic abnormalities, and skeletal abnormalities are some of the factors resulting in the rise of growth hormone deficiency. Adults with growth hormone deficiency are also increasingly taking growth hormone injections as it protects them from increased muscle mass, fractures, and also reduces the risk of heart diseases.

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North America to Emerge as the Largest Region in the Global Market for Human Growth Hormone

North America is likely to emerge as the largest region between 2017 and 2026. Presence of the major market players and commercialization of growth hormone by the U.S. Food and Drugs Administration (FDA) are driving the market growth. Meanwhile, Asia Pacific Excluding Japan (APEJ) is also expected to witness the fastest growth in the coming years. India, China, and Australia are contributing towards the growth in the region. Moreover, increasing number of people suffering from growth hormone deficiency also presents an opportunity for the leading companies in APEJ region.

Key Competitors in the Global Market for Human Growth Hormone

Merck KGaA, Pfizer Inc., Eli Lilly and Company, Novartis AG, Novo Nordisk A/S, Anhui Anke Biotechnology (Group) Co., Ltd, Biopartners GmbH, Ipsen S.A, GeneScience Pharmaceuticals Co., Ltd., and Roche Holdings, Inc., are some of the major companies operating in the global market for human growth hormone.

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Escalating Cases of Chronic Diseases to Accelerate the Growth Opportunities across the Human Growth Hormone Market

The human growth hormone market is estimated to gain extensive growth opportunities across the assessment period of 2017-2026 on the back of the rise in the awareness about the effectiveness of growth hormones and the increasing prevalence of chronic diseases.

• The human growth hormone is a type of peptide hormone whose function is the production of cells, growth stimulation, and cell regeneration in the body. It has a significant role in the development of the human body. The overwhelming advantages of human growth hormones will bring immense growth prospects across the forecast period of 2017-2026.
• The growing prevalence of human growth disorders has led to an increase in awareness about the importance of treatment among a large chunk of the global populace, which will eventually help in increasing the growth of the human growth hormone market substantially.
• Robust research and development activities play a vital role in the growth of the human growth hormone market. The players in the human growth hormone market invest heavily in these activities for exploring novel formulations that aid in boosting their revenues. The players are also involved in expansion activities which further boost the growth opportunities across the human growth hormone market.
• The initiatives undertaken by various government and non-government organizations to spread the information about growth hormone deficiencies have helped the human growth hormone market to accelerate its growth at a rapid pace. All these aspects will prove to be vital growth contributors during the forecast period of 2017-2026.
• Online pharmacies will further propel the growth of the human growth hormone market as retail and medical stores have been hit hard by the novel coronavirus pandemic. Even though pharmacies were allowed to function during the strict lockdown enforcements, the unwillingness of the people to step out due to the fear of transmission boosted the demand for online pharmacies greatly.

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