Growth Hormone Deficiency Market Overview
Global Growth Hormone Deficiency Market is anticipated to exhibit a CAGR of 4.20% during the review period of 2020 to 2027, to surpass USD 5,243.3 Million by 2027. Growth hormone deficiency is a disease caused by the inadequacy of growth hormones in the body. Growth hormone deficiency is an endocrine disease characterized by low or deficient secretion of growth hormone.
The global market growth is attributed to the rising prevalence of GHD, the growing launch of drugs by prominent market players, and growing awareness about the disease. Moreover, a growing engagement of major market players in the advancement of growth hormone products is expected to enhance the market growth during the review period.
The Global Growth Hormone Deficiency Market is estimated to register significant market growth during the review period owing to the rising number of individuals suffering from Growth Hormone Deficiency (GHD), increasing awareness regarding the effectiveness of growth hormone along with clinical trials focused on the safety and efficacy of GHD, and the changing lifestyle along with the growing prevalence of genetic disorders.
However, the high cost of treatment and increasing counterfeit products being used for the treatment are restraining the market growth. On the other hand, the collaboration of major players with small players, coupled with the rise in the innovation marked by prominent players, poses lucrative opportunities for the global growth hormone deficiency market.
Global Growth Hormone Deficiency Market has been classified into Brand, Application, Distribution Channel, and Route of Administration.
Global Growth Hormone Deficiency Market has been divided into various brands such as Norditropin, Genotropin, Humatrope, Saizen, Omnitrope, and others.
Based on the application segment the global market has been classified into pediatric growth hormone deficiency, Turner syndrome, Idiopathic Short Stature (ISS), small for gestational age, adult growth hormone deficiency, Prader-Willi syndrome, and others.
In terms of route of administration, the global market has been categorized into subcutaneous, intravenous, and intramuscular.
Global Growth Hormone Market based on the distribution channel has been segmented into hospital pharmacies, retail pharmacies, online pharmacies, and specialty pharmacies.
Global Growth Hormone Deficiency Market, based on region, has been divided into the Americas, Europe, Asia-Pacific, and the Middle East and Africa.
The Americas is divided into North America and Latin America. The Americas dominated the market in 2019 and is expected to command the market during the review period as well.
The regional market growth is driven by the factors such as the rising prevalence of growth hormone deficiency, increasing applications of the hormone, and increasing awareness about the effectiveness of the hormone in short stature.
The European growth hormone deficiency market has been further bifurcated into Eastern Europe and Western Europe. Western Europe market is spread across Germany, the UK, France, Italy, and Spain.
The European market is anticipated to register a substantial market of the global growth hormone deficiency owing to the increasing occurrences of growth hormone deficiencies, rising preference for growth hormones, and growing government expenditure for the healthcare sector.
Asia-Pacific is expected to be the fastest-growing market due to the rising healthcare expenditure and existence of the largest patient pool. The regional market growth is driven by the increasing investments by key market players in the region because of the growing demand.
The Middle East & Africa market is expected to register a steady market growth owing to the rising healthcare expenditure, increasing investments by major market players, and an increasing patient pool in the region.
The Key Players in the Global Growth Hormone Deficiency Market include Novo Nordisk A/S, Eli Lily and Company, Novartis AG, Merck KGaA, and Pfizer.
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