Human Growth Hormone Market Will Generate New Growth Opportunities by 2024

Our latest research report entitled Human Growth Hormone Market (by route of administration (oral, intramuscular, intravenous and subcutaneous), distribution channel (online pharmacy, retail pharmacy and hospital pharmacy),) provides complete and deep insights into the market dynamics and growth of Human Growth Hormone. Latest information on market risks, industry chain structure Human Growth Hormone cost structure and opportunities are offered in this report. The past, present and forecast market information will lead to investment feasibility by studying the essential Human Growth Hormone growth factors.

The forecast Human Growth Hormone Market information is based on the present market situation, growth opportunities, development factors, and opinion of the industry experts. An in-depth analysis of the company profiles, Human Growth Hormone on global and regional level and applications is conducted. The analysis of downstream buyers, sales channel, raw materials, and industry verticals is offered in this report. According to report the global human growth hormone market is projected to grow at a CAGR of 7.15% over the forecast period of 2018-2024.

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Human growth hormone is a peptide hormone that promotes growth, cell reproduction, and cell regeneration in humans. Human growth hormone, also called as somatotropin, is produced by the pituitary gland, and stimulates growth in children, youths and adults. It also helps to regulate body composition, body fluids, muscle and bone growth, sugar and fat metabolism, and heart function. Produced synthetically, HGH is an active ingredient in several prescription drugs. Growth hormone deficiency usually occurs due to any damage to the pituitary gland and it is passed genetically. Growth hormone deficiency is also caused by mutations in genes that regulate its synthesis and secretion.

The demand for human growth hormone is increasing due to rising incidences of growth hormone deficiency; these deficiencies are treated by injecting the growth hormone injections. In addition, technology advancement of recombinant form of human growth hormone (rhGH) called somatropin by leading player is further expected to propel the growth of the market. However, increased research and development in growth hormone drugs have resulted in the development of anti-aging drugs. Furthermore, innovations in research and development of long acting drugs; increasing incidences of cancer and HIV/AIDS and rising expenditure on healthcare are some of the factors driving the growth of the market. On the other hand, there are number of side effect of human growth hormone such as increasing risk of diabetes, joint pain, swelling due to fluid in the body's tissues (edema) and carpal tunnel syndrome is likely to hamper the growth of the market. Furthermore, high cost of drugs and increasing anxieties over the growing off label uses of human growth hormone are some of the factor that are likely to restraint the growth of the market. Moreover, unexplored market in the emerging economies such as Asia-Pacific and Latin America creates more opportunities to this market in coming few years.

Among the geographies, North America is expected to be the largest market for human growth hormone due to presences of leading players in this region and commercialization of growth hormone drugs by the U.S.FDA. Moreover, The U.S., the dominant market in North America, accounted for the largest market size worldwide. Asia-Pacific is the fastest growing region in the global human growth hormone market, which is driven by increasing healthcare expenditures and high incidences of growth hormone deficiency disorders. Asia-Pacific is the fastest growing region, due to increasing healthcare expenditures and high incidences of growth hormone deficiency disorders among the people in this region. Moreover, rising demand of growth hormone drugs in emerging countries such as China, and India is anticipated to bring more opportunities to this market.

Pfizer Inc, Novo Nordisk A/s, and Eli Lilly And Company are the top leading players in this market. The leading players are entering into mergers and acquisitions and joint ventures, to undertake research and development activities in order to introduce new products and expand worldwide. Increasing investments by key players to increase the production capacities, for instance, to increase supply in a rural areas, Novo Nordisk financed multi-million dollar in Lebanon, in 2016.

Segment Covered

The report on global human growth hormone market covers segments such as, route of administration and distribution channel. On the basis of route of administration the global human growth hormone market is categorized into oral, intramuscular, intravenous and subcutaneous. On the basis of distribution channel the global human growth hormone market is categorized into online pharmacy, retail pharmacy and hospital pharmacy.

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