U.S (New York) – Report Ocean has recently published a comprehensive research report titled “Human Growth Hormone (hGH) Market ” Research Report 2023-2031. This report delves deep into the market and offers valuable insights into (Key Market Trends, Emerging Technologies, Market Drivers and Challenges of the Industry, Regulatory Policies), company profiles of key players, and their strategies. With over 100+ market data tables, pie charts, graphs, and figures, this global market study is now available. The report provides a thorough evaluation of the market, (Encompassing Future Trends, Current Growth Factors, Expert Opinions, Factual Information), and industry-validated market data, with a forecast extending until 2031.
The global human growth hormone market was valued at $2,840.70 million in 2018 and is expected to reach $5,563.60 million by 2026, registering a CAGR of 8.6% from 2019 to 2026. Human growth hormone is a protein made by the pituitary gland and is secreted into the bloodstream to other parts of the body. Its production is regulated by an intricate set of hormones produced in the hypothalamus gland, intestinal tract, and pancreas. Further, these hormones act on several tissues throughout the body. In adolescents, it stimulates the growth of bone and cartilage. Whereas in adults, it boosts protein production, promotes the utilization of fat, interferes with the action of insulin, and raises blood sugar levels.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
GH also raises levels of insulin-like growth factor1. Surge in awareness regarding the effectiveness of growth hormones and increase in prevalence of chronic diseases including growth retardation and pituitary dysfunctions and surge in compliance for growth hormone formulations are the major factors that drive the growth of the global human growth hormone market. However, the side effects associated with its vigorous usage such as muscle pain, joint pain, and fluid retention and high cost of the treatment hampers the growth of the market.
Moreover, stringent government approvals are expected to restrain the growth and development of the market in the coming years. Furthermore, rise in disposable income and surge in healthcare expenditure in developing economies is anticipated to create lucrative growth opportunities for the market. The human growth hormone market can be segmented on the basis of application, route of administration, distribution channel, and region. By application, it is categorized into growth hormone deficiency, Prader-Willi syndrome, Turner syndrome, and small for gestational age, and others . By route of administration, it is classified into intravenous, intramuscular, subcutaneous, and oral. On the basis of distribution channel, it is divided into hospital pharmacy, retail pharmacy, clinic, and online pharmacy. Region wise, it is analyzed across North America, Asia-Pacific, Europe, and LAMEA.
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KEY BENEFITS FOR STAKEHOLDERS
? The study provides an in-depth analysis of the market along with the current trends and future estimations to elucidate the imminent investment pockets.
? It offers a quantitative analysis from 2018 to 2026, which is expected to enable the stakeholders to capitalize on prevailing market opportunities.
? Comprehensive analysis of all geographical regions is provided to determine the prevailing opportunities.
? Key players are profiled, and their strategies are analyzed thoroughly to understand the competitive outlook of the global market.
KEY MARKET SEGMENTS
By Application – Growth Hormone Deficiency – Prader-Willi Syndrome – Turner Syndrome – Small for Gestational Age – Others
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By Route of Administration – Intravenous – Intramuscular – Subcutaneous – Oral By Distribution Channel – Hospital Pharmacy – Retail Pharmacy – Clinics – Online Pharmacy
By Region – North America o U.S. o Canada o Mexico – Europe o Germany o France o UK o Italy o Spain o Rest of Europe – Asia Pacific o Japan o China o India o Australia o Rest of Asia-Pacific – LAMEA o Brazil o Saudi Arabia o South Africa o Rest of LAMEA
LIST OF KEY PLAYERS – Novo Nordisk – Merck & Co., Inc – Eli Lilly and Company – Pfizer Inc. – Teva Pharmaceutical Industries Ltd – Novartis AG – AnkeBio Co. Ltd – F. Hoffmann-La Roche – Ipsen – Ferring B.V.
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