The size of the human growth hormone market in the European region is predicted to grow at a CAGR of 6.24% from 2022 to 2027.
The growth of the European growth hormone market is expected to be driven by the factors such as increasing diseases related to growth hormone deficiency, the rising use of aging hormones, and increased neuropsychiatric cases. Other factors such as increasing awareness, a growing number of health disorders, robust product portfolio are propelling the market growth. The major companies in the region are significantly investing in research and development activities which are expected to provide lucrative growth opportunities for the market players.
On the other hand, the market is predicted to expand due to the increased use of these drugs in critical applications. In addition, the expanding trend of adopting cutting-edge technology to create tablets at a low cost may positively impact the Human Growth Hormone market. Furthermore, every year, the International Coalition of Organizations Supporting Endocrine Patients (ICOSEP) observes International Children's Growth Awareness Day to raise awareness about the early detection and treatment of growth hormone problems in people, particularly children. In addition, the rising disposable income in the metropolitan population and the public desire for effective treatment processes are creating market development potential.
Moreover, the government and private organizations are taking initiatives to create awareness about the growth of hormone deficiency and strong productivity, which positively influences the market growth.
However, the continued use of the drugs is likely to cause adverse effects, negatively influencing the HGH market's growth. Also, strict government regulations governing medicine approval are limiting market expansion. Furthermore, the European human growth hormone market is expected to be limited further by drug production changes in pharmaceutical enterprises and the treatment's high-cost culture.
This research report on the European human growth hormone market has been segmented and sub-segmented into the following categories.
By Application:
By Distribution Channel:
By Country:
The European Human hormone market held the second-largest share over the forecast period, and it is most likely to continue its growth throughout the forecast period. The growth of this regional market is predicted to be fuelled by factors such as the commercial and public sectors demonstrating their commitment to raising human consciousness, expanding hormone deficiency illnesses, rising government costs, and the growing importance of growth hormones in treating patients with Idiopathic Short Stature. In addition, the availability of advanced healthcare infrastructure, the presence of key market players, and favorable reimbursement policies contribute to regional market growth. The emerging countries such as Germany, the UK, and France are expanding the regional market growth is significant market share.
Germany accounted for the largest share of the European market, and it is projected to witness a prominent share during the forecast period. The factors such as increased neuropsychiatric cases, growing awareness, established healthcare infrastructure, and rising research and development activities are propelling the market growth.
The UK is more likely to account for a significant share in the market due to the growing population. Significant government investments and technological advancements in the healthcare sector boost market growth.
Other countries such as Italy, France, and Spain are projected to record a considerable share in the market owing to the increasing health consciousness among the masses and growing awareness regarding preventive measures against endocrine disorder. In addition, improving the healthcare sector is uplifting the market growth.
KEY MARKET PLAYERS:
Pfizer Inc., Novo Nordisk A/S, Anhui Anke Biotechnology Co. Ltd., Eli Lilly and Company, GeneScience Pharmaceuticals Co. Ltd., Genetech Inc., Novartis AG, Biopartners GmbH, Zhongshan Hygene Biopharm Co. Ltd., Merck KGaA, Ipsen S.A. and Lifetech Labs are a few of the prominent companies operating in the European human growth hormone market profiled in this report.
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