Human Growth Hormone Market

1. Human Growth Hormone Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast The global human growth hormone market size was valued USD 5.9 billion in 2020 and is projected to reach USD 10.84 billion by 2028, expanding at a CAGR of 8.4 % during the forecast period, 2021–2028. The growth of the market is attributed to the factors such as increasing industry players’ investments in R&D activities, the presence of a strong pipeline, and expanding government initiatives. Human growth hormone (hGH), also known as somatotropin, is a peptide hormone that is vital for human development, as it stimulates growth, cell reproduction, and cell regeneration. In humans, growth hormone (GH) insufficiency is caused by the failure of pituitary gland to generate enough hGH. In humans, this deficit is addressed by subcutaneous injections of recombinant hGH. Growth hormone insufficiency in humans can be caused by a variety of genetic illnesses, including Prader-Willi syndrome and Turner syndrome, which can result in delayed puberty and shorter-than-average height. According to data released by the American Academy of Pediatrics, growth hormone insufficiency is a rare illness that affects less than one in 10,000 children in the US. hGH is being abused by bodybuilders and sportsmen as an anti-aging treatment and as a performance-enhancing anabolic substance. However, according to the USFDA, hGH is a regulated chemical that has not been licensed for anti-aging or performance-enhancing purposes. International Children's Growth Awareness Day is observed every year by the International Coalition of Organizations Supporting Endocrine Patients (ICOSEP), a non-profit charitable organization based in the US, to raise awareness about the early detection and treatment of growth hormone disorders in humans, particularly children. According to UPMC Children's Hospital of Pittsburgh. Knee, hip, or other joint discomfort, allergic reactions, such as redness, swelling, or hives, and increase in the blood sugar levels are all possible adverse effects of GH therapy,

2. Market Trends, Drivers, Restraints, and Opportunities  Various government and private organizations initiatives to raise awareness about GH deficiency and human growth hormone treatment are driving the market growth. High cost of therapies can hinder the market growth. Rapid development of new novel recombinant human growth hormones is estimated to spur the market expansion in the coming years.   Sample - https://growthmarketreports.com/request-sample/1868 Market Segment Insights Growth Hormone Deficiency segment is projected to account for a key market share Based on applications, the market is segmented into growth hormone deficiency, Turner syndrome, idiopathic short stature, Prader Willi syndrome, small for gestational age, and others. The growth hormone deficiency segment is further divided into adult growth hormone deficiency and pediatric growth hormone deficiency. The growth hormone deficiency segment is expected to account for a key market share during the forecast period owing to the early detection and treatment of GH deficiency in people, as well as the introduction of new medications into the market. For instance, Ascendis Pharma A/S gained Orphan Designation from the European Commission (EC) in October 2018 for TransCon hGH, an experimental long-acting GH medication for humans, recommended for the treatment of pediatric GH deficiency. Similarly, Ferring Pharmaceuticals Inc. got USFDA approval in January 2018 for Zomacton (somatropin), a novel recombinant hGH intended for the treatment of adults with GH insufficiency. Adult GH deficiency and pediatric GH deficiency are the two types of GH deficiency, with the latter expected to dominate the market during the forecast period due to the growing number of pipeline medications. For instance, in October 2019, Pfizer Inc. and its partner OPKO Health Inc., stated that their Phase III research of Somatrogon in pre-pubertal children with hGH met its primary endpoint of non- inferiority to daily somatropin. Inquiry- https://growthmarketreports.com/enquiry-before-buying/1868 Competitive Landscape Key players competing in the human growth hormone market include Novo Nordisk A/S, Pfizer, Inc, Eli Lilly and Company, Sandoz International GmbH (Novartis AG), Merck KGaA, Genentech, Inc. (Roche), Ferring Pharmaceuticals, Teva Pharmaceutical Industries, Ltd., and Ipsen. Mergers, collaborations, and acquisitions are common strategies adopted by big industry players to increase their geographic reach. For instance, in October 2018, Novo Nordisk and Strongbridge Biopharma agreed to buy MACRILEN's rights in the US and Canada. MACRILEN (macimorelin) is the first and only oral medicine licenced by the Food and Drug Administration (FDA) for the diagnosis of adult growth hormone insufficiency. In September 2018, Novo Nordisk reported Phase II clinical trial data for Somapacitan, an experimental

3. growth hormone medication indicated for the treatment of juvenile growth hormone insufficiency. In May 2019, Ascendis Pharma A/S released results from a Phase III clinical trial of their TransCon hGH, which is indicated for pediatric growth hormone insufficiency. Teva Pharmaceutical Industries, Ltd., OPKO Health, Inc., Eli Lilly and Company, Ferring Pharmaceuticals, Sanofi S.A., and LG Life Sciences are among the prominent companies that are active in R&D activities for the development of innovative hGH therapy. About Growth Market Reports: GMR provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Industry Intelligence Solutions”. GMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain. Our key analysis segments, though not restricted to the same, include market entry strategies, market size estimations, market trend analysis, market opportunity analysis, market threat analysis, market growth/fall forecasting, primary interviews, secondary research & consumer surveys. Contact: Growth Market Reports Phone: +1 909 414 1393 Email: sales@growthmarketreports.com Web: https://growthmarketreports.com Follow Us: LinkedIn | Twitter