Human Growth Hormone Market Expected to Reach $3,864.00 million by 2030

According to a new report published by Allied Market Research, titled, “Global Human Growth Hormone Market by Application, Route of Administration, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2021–2030," the global human growth hormone market size was valued at $3,864.00 million in 2020 and is expected to reach $9,211.63 million by 2030, registering a CAGR of 9.0% from 2021 to 2030.

The global human growth hormone market was valued at $3,864.00 million in 2020 and is expected to reach $9,211.63 million by 2030, registering a CAGR of 9.0% from 2021 to 2030. Human growth hormones were developed in 1985 and approved by the FDA for explicit use in children and adults. In children, growth hormone is allowed to treat short-term height or poor growth due to many medical causes, including Turner syndrome, Prader-Willi syndrome, chronic kidney disease and a lack of hGH. While, in adults it is used to treat short-term bowel disease, hGH deficiency due to abnormal pituitary gland, and HIV/AIDS-related muscle wasting disease.

Significant increase in chronic diseases including growth retardation, immune system dysfunction, and increased adherence to growth hormone production are the factors contributing toward the market growth. In addition, the increase in medical spending and waste in developing countries stimulate the market growth. However, side effects associated with the use of these hormones such as muscle pain, joint pain, and fluid retention; and high medical costs hamper the market growth. In addition, strong government approvals are expected to affect the market growth and the market development in the coming years.

By application, the Turner Syndrome segment dominated the market in 2020, and is expected to exhibit a prominent growth rate in the near future, owing to the surge in its incidence across the globe. For instance, according to U.S. National Organization of Rare Disorders, Turner syndrome is estimated to affect approximately 1 female in 2,000-2,500 live female births. More than 70,000 women and girls in the U.S. are estimated to have Turner syndrome.

On the basis of route of administration, the subcutaneous segment dominated the human growth hormone market in 2020, and is anticipated to maintain its dominance during the forecast period. This is attributed to the fact that growth hormones administered subcutaneously have more bioavailability compared to other routes of administration.

The COVID-19 outbreak is anticipated to impact the global human growth hormone market. As per an article from Frontiers, the patients with decreased growth hormone secretion present a risk factor for COVID-19, which requires attention that will help in the prevention of COVID-19. Along with this, patients who are suffering from Prader-Willi syndrome also need to take enough care to minimize the risk of getting COVID-19. Moreover, Prader-Willi syndrome patients may not show typical symptoms such as a high temperature and they may also experience a higher-than-normal pain threshold which may delay in the diagnosis of COVID-19. Individuals with Turner syndrome are at higher risk for severe illness from the COVID-19 virus. The COVID-19 pandemic has stressed and impacted the healthcare systems of the world. The lockdown situation all over the world, has created obstacles for both the patients and the healthcare providers.

Key Findings Of The Study

• By application, the Turner Syndrome segment dominated the human growth hormone market in 2020 and is anticipated to continue the same during the forecast period.
• By region, North America was the major shareholder and accounted for the highest share of 49% in 2020.
• By route of administration, the subcutaneous segment is expected to grow at a CAGR of 9.3% during the forecast period.
• By distribution channel, the hospital pharmacy segment dominated the market in 2020 and is anticipated to maintain its dominance during the forecast period.