Global Human Growth Hormone Market Size, Share, Trends, COVID-19 Impact & Growth Analysis Report – Segmented By Application (Growth Hormone Deficiency, Turner Syndrome, Idiopathic Short Stature, Prader Willi Syndrome and Others), Distribution Channel & Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa) – Industry Forecast From 2024 to 2029

Updated On: January, 2024
ID: 9027
Pages: 120

Global Human Growth Hormone Market Size (2023 to 2028)

As per our report, the size of the global HGH market is forecasted to reach USD 7096 million by 2028 from USD 4942 million in 2023, growing at a CAGR of 7.50% from 2023 to 2028.

The growth hormone plays a vital role in regulating body composition and primarily spurs growth in children. However, when there is an issue producing these hormones by pituitary glands, they may not correctly develop bone and muscles. In these cases, human growth hormone injections are prescribed by doctors.

MARKET DRIVERS:

The growing number of health disorders among children, primarily due to changes in food habits is one of the key factors driving the growth of the global HGH market. In addition, the rise in awareness of treatment procedures is propelling the market's growth. Besides, the market is growing with a surge in the research institutes in the biotechnology field, leveraging the demand of the global human growth hormone market. Rising neuropsychiatric cases and increasing government funds for R & D in the endocrinology sector fuel market demand. In addition, advanced technologies are introduced in the healthcare domain to improve the services' quality helping the HGH market grow. With the growing number of approvals by the FDA and other government organizations, public and private organizations have taken some initiatives to promote healthcare-related services and policies among the developed and under-developing companies and accelerate the human growth hormone market. Increasing older people is one-factor fostering market demand.

Rising disposable income in the urban population and people's demand the effective treatment procedures is to set up growth opportunities for the market. The increasing consumption rate of these drugs in significant applications is likely to boost the market's growth. In addition, the growing prevalence of adopting the latest technologies in producing the pills at low cost may positively impact the HGH market demand.

MARKET RESTRAINTS:

The ongoing usage of the medicines is likely to produce side effects impacting the global HGH market growth negatively. Strict government rules in approving the drugs are restraining the market growth. The pharmaceutical companies facing ups and downs while producing drugs impede the market's growth. The treatment's cost culture is very high and will likely limit the demand for human growth hormone. Fluctuations in the productivity of drugs in pharmaceutical companies are also hindering the growth of the global human growth hormone market.

Impact of COVID-19 on the HGH Market:

The widespread coronavirus has impacted medical health very, mainly across the globe. The growth hormone has got important control over the immune system. The human cells consist of GH. COVID-19 very rarely affects children when compared with those older people. 

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2022 to 2028

Base Year

2022

Forecast Period

2023 to 2028

Segments Analysed

By Application, Distribution Channel, and Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges; PESTLE Analysis; Porter’s Five Forces Analysis; Competitive Landscape, Analyst Overview of Investment Opportunities

Regions Analysed

North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa

 

This research report on the global human growth hormone market has been segmented and sub-segmented based on application, distribution channel, and region.

Human Growth Hormone Market - By Application:

  • Growth Hormone Deficiency
  • Turner Syndrome
  • Idiopathic Short Stature
  • Prader Willi Syndrome
  • Others

Based on the application, the growth hormone deficiency segment is predicted to hold the major share of the worldwide market during the forecast period owing to the increasing birth rate every year and a rise in incidences of various diseases in children. Additionally, awareness among people regarding early-stage diagnosis and the associated treatment propels segmental growth. According to the Human Growth Foundation, around 4,000 to 10,000 children have a growth hormone deficiency.

Human growth hormone market - By Distribution Channel:

  • Hospital and Retail Pharmacy
  • Online Pharmacy / ePharmacy
  • Specialty Clinics

Based on distribution channels, the hospitals and retail pharmacies segment held the largest share of the global HGH market in 2022 and is expected to grow promisingly during the forecast period owing to the growing construction activities of hospitals with the latest equipment. For example, according to the Children’s Hospital of Philadelphia (CHOP), growth hormone prescriptions had increased from 5.1 patients per 10,000 advantages in 2001 to 14.6 per 10,000 in 2016.

The online pharmacy segment is projected to account for a significant share of the HGH market during the forecast period. In existing countries like India and China, the trend of online pharmacies is increasing daily. In addition, the high perforation of pharmacies is also growing in North America and Europe.

Human Growth Hormone Market - By Region:

  • North America
    • United States
    • Canada
    • Rest of North America
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Italy
    • Rest of EU
  • Asia Pacific
    • India
    • Japan
    • China
    • South Korea
    • ANZ
    • Rest of APAC
  • Latin America
    • Mexico
    • Brazil
    • Argentina
    • Rest of LATAM
  • Middle East
  • Africa

Geographically, The North American HGH market holds the most significant share of the global human growth hormone market with the rise in capital income and an increasing number of research institutes to develop new products. Supportive reimbursement policies and increasing government assistance in improving healthcare infrastructure are major factors boosting North America's market growth. The United States is leading with the largest share in the market with favorable government reimbursement policies. In addition, increased healthcare expenditure and technological advancements are propelling the market demand. Canada is expected to have rapid market growth. According to a published article in the Journal of Clinical Endocrinology and Metabolism in November 2016, around 6,000 Adult Growth Hormone Deficiency cases are registered annually in the U.S.

The Asia Pacific Human growth hormone market follows North America in leading dominant shares of the HGH market due to the latest technological developments. Increasing incidences of genetic disorders are ascribed to bolster the growth of this market. Also, the growing number of healthcare centers, even in rural areas, is increasing the market's demand to an extent. Increasing occurrences of genetic disorders and a rise in healthcare expenses are fueling the market growth. China is leading the market demand with technological advancements and increased disposable income. Japan is expected to have rapid growth in the human growth hormone market. Growing research and development activities with an increase in huge investments from the government are propelling the market growth.

The European HGH Market will grow at the highest CAGR in foreseen years, increasing support from public and private organizations. The increasing prevalence of the treatment of short stature is escalating the European regional market. The market in this region is driven by factors like private and public sectors showcasing their support in bringing awareness among humans. In addition, growing hormone deficiency disorders, increasing government expenses, and the growing significance of growth hormones for treating patients with Idiopathic Short Stature are propelling the market's demand. Germany is predicted to lead the market, followed by the UK.

The human growth hormone market in Latin America is expected to grow steadily. This is because the top companies' key players aim to increase their ability to produce to escalate the supply chain amid the rural areas, augmenting the market demand.

The Middle East and Africa HGH market anticipate having a prominent growth rate in the coming years. According to the Annals of Saudi Medicine's survey in 2015, the regular rate is registered as 0.2 per 10000 children in Saudi Arabia. In Kuwait, the growth hormone deficiency rate accounts for 38%, whereas the idiopathic short stature and Turner syndrome account for 20% and 12%.

KEY MARKET PLAYERS:

Companies that are playing a dominating role in the global human growth hormone market profiled in the report are 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.

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Frequently Asked Questions

What is the current size of the human growth hormone market?

The global human growth hormone market was worth USD 4598 million in 2022 and is expected to be USD 4942 million in 2023.

Who are the major players in the human growth hormone market?

Pfizer Inc., Eli Lilly and Company, Novartis AG, Merck & Co. Inc., and F. Hoffmann-La Roche Ltd. are some of the leading companies in the human growth hormone market.

What is driving growth in the human growth hormone market?

The growth of the human growth hormone market is being driven by the increasing prevalence of growth hormone deficiency and other medical conditions that can be treated with HGH therapy. Additionally, advancements in technology and growing awareness about the benefits of HGH therapy are also contributing to market growth.

What are some of the challenges facing the human growth hormone market?

One of the biggest challenges facing the human growth hormone market is the high cost of HGH therapy, which can make it inaccessible to many patients. Additionally, there are concerns about the potential side effects of HGH therapy, including the risk of cancer.

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