Growth Hormone Deficiency Market Overview
Growth Hormone stimulates the growth of all essential tissues of the human body, including bone. Growth hormone deficiency (GHD) is a disorder that is caused due to the lack of growth hormones and is caused when the pituitary gland doesn’t produce enough concentration of human growth hormone also referred to as somatotropin. Several genetic disorders, such as Prader-Willi syndrome and Turner syndrome, might also be the reason for growth hormone deficiency in humans, leading to late puberty and shorter-than-average height. The condition can follow at any stage in a person’s life and treatments comprise growth hormone injections to stimulate growth.
Market Size and Forecast
The growth hormone deficiency market is expected to observe an attainable high CAGR during the forecast period, i.e., 2020-2028. The market is segmented by application, route of administration, distribution channel, and region. Among product applications, the Turner syndrome segment is expected to dominate the market on account of a surge in its incidence across the globe and better awareness of Turner syndrome in the medical community. Turner syndrome is a chromosomal abnormality in females, characterized by the partial or complete loss of one of the X chromosomes. As the syndrome is associated with many complications related to heart, hearing loss, autoimmune disorders, mental health issues, infertility, and pregnancy complications, the demand for treatment concerning growth hormones is growing.
Non-profit establishments such as Turner Syndrome Support Society (U.K.), Turner Syndrome Society of the United States, and Turner Syndrome Foundation celebrate “Turner Syndrome Awareness Month” every year and spread awareness about the condition via nationwide campaigns which were affected this year owing to COVID-19.
Increase in the prevalence of serious chronic diseases
Chronic diseases such as growth retardation, pituitary dysfunctions, accompanied by changing lifestyle, the prevalence of other genetic disorders, incidence of GHD in adults, and surge in compliance for growth hormone creations are the key factors that are driving the growth of the global growth hormone deficiency market.CLICK TO DOWNLOAD FREE SAMPLE
Furthermore, initiatives taken by numerous government and private organizations to spread alertness about growth hormone deficiencies, rise in disposable income, a surge in healthcare facilities in developing nations, and awareness for human growth hormone treatment are estimated to drive the market growth during the forecast period.
Unfavorable effects of growth hormones on the human body
Side effects of growth hormones such as muscle pain, joint pain, and fluid retention might surface are the growth hindrances for the growth hormone deficiency market.
Furthermore, stringent government regulations and high cost involved in the treatments using these growth hormones might also contribute as growth constraints for the overall growth hormone deficiency market.
Our in-depth analysis of the growth hormone deficiency market includes the following segments:
By Route Of Administration
By Distribution Channel
Geographically, the growth hormone deficiency market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region.
North America is projected to hold the largest market share in the forecast period. The dominance is attributed towards the factors such as high healthcare expenditure, and amplified intake of human growth hormone therapies in this region in order to cure different syndromes such as Turner syndrome. Further, the ease of availability of artificial growth hormones, rise in research and development concerning human growth hormone, and the availability of reimbursements are further contributing towards the regional growth.
The European region is anticipated to hold the second-largest market share in the growth hormone deficiency market. The growth in this region is attributed to the rising incidences of growth hormone deficiencies, increasing inclination towards growth hormones for the treatment of Idiopathic Short Stature (ISS), and rising government spending for the healthcare facilities in the region.
Asia-Pacific is estimated to grow at the fastest rate during the forecast period. Factors such as a rise in the incidence of growth hormone deficiency disorders, upsurge in healthcare expenditure, infiltration of leading players, growing population, and a rise in disposable income, are projected to propel the growth in the Asia-Pacific region.
The growth hormone deficiency market is further classified based on region as follows:
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