Growth Hormone Deficiency Market Key Developments Trends, Analysis and Forecasts to 2030
Growth Hormone Deficiency Market
Growth hormone deficiency also called pituitary dwarfism or simply dwarfism, refers to a condition resulting from inadequate quantities of growth hormone in the body. Kids with GHD have weirdly short stature with usual body proportions. According to the MRFR reports, the global Growth Hormone Deficiency market size for growth hormone deficiency is projected to acquire a market size of USD 5,243.3 Million by 2027 with a healthy CAGR of 4.20%.
The growth of the GHD market is being driven by the factors such as a rise in growth hormone used to prevent aging, an increase in neuropsychiatric cases, an increase in growth hormone deficiency disorders, and the rise in awareness of the treatment procedure. However, the fluctuations in drug productivity in pharmaceutical companies and the high cost of the treatment may have an adverse impact on the market growth.
The global market for growth hormone deficiency is flooded with a wide number of players spread worldwide. The players in the market are focusing more and more on the implementation of new strategies and policies such as collaborations, expansions, acquisitions, joint ventures, and a rising number of FDA approvals. The list of leading players in the growth hormone deficiency market includes companies such as Pfizer, Merck KGaA, Novartis AG, Eli Lily and Company, Novo Nordisk A/S, and several others.
The global Growth Hormone Deficiency Market is divided into several segments based on brand, application, distribution channel, route of administration, and region.
By brand, the market is split into Omnitrope, Saizen, Humatrope, Genotropin, Norditropin, and others.
By application, the growth hormone deficiency market is divided into prader willi syndrome, adult growth hormone deficiency, turner syndrome, small for gestational age, idiopathic short stature, and pediatric growth hormone deficiency.
Based on the route of administration, the market is split into intravenous, intramuscular, and subcutaneous.
The market is split into E-commerce, clinics, retail pharmacies, and hospital pharmacies by distribution channel.
The global market for growth hormone deficiency is studied across five major regions: Asia-Pacific, Europe, North America, South America, and the Middle East & Africa.
The North American regional market for growth hormone deficiency held the top position in the global market in 2019 and is likely to maintain dominance over the review timeframe. The growth of the regional market is attributed to the factors such as growing awareness regarding the efficacy of the hormone in short stature, expanding applications of the hormone, and the rising prevalence of growth hormone deficiency. The US and Canada are two major markets in the region.
The European regional market for growth hormone deficiency is likely to exhibit substantial growth over the review timeframe. The region is mainly divided into two major parts, such as Western Europe and Eastern Europe. The Western European region is comprised of Spain, Italy, France, the UK, and Germany. The market is projected to secure the second position in the growth hormone deficiency market over the assessment timeframe. The regional market’s growth is being driven by the factors such as growing government expenditure for the healthcare sector, rising shift towards growth hormones in the treatment of Idiopathic Short Stature (ISS), and the increasing occurrences of growth hormone deficiencies.
The Asia-Pacific regional growth hormone deficiency market is projected to record the highest growth rate over the forecasted era. The growing healthcare expenditure is mainly propelling the growth of the regional market. Additionally, the rising investments by market players in the region, given the increasing demand, are also projected to catalyze the regional market’s growth.
The Middle East & African regional market is expected to significantly grow over the assessment timeframe due to the growing patient pool, rising investments by major market players, and increasing healthcare expenditure.
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