Human Growth Hormone Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024
- Transparency Market Research
Human growth hormones are responsible for the growth and maintenance of tissues and organs throughout the life. Human growth hormones are also known as somatotropin which is a peptide hormone that stimulates growth, cell division, cell growth and cell regeneration in humans. These hormones are naturally secreted from the pituitary gland in the hypothalamus. Any deformity or damage to pituitary gland can impact the natural productivity of the hormone levels. The natural slowdown of the growth hormones results into underdevelopment of any organ or tissue which further triggers the usage of synthetic human growth hormones in order to get the desired growth. Benefits of using human growth hormone are increased muscle strength, better fracture healing, stronger bones, depression, improved erectile function, decreased obesity and many more. Over secretion of growth hormones causes disfiguration of the body parts like face, feet. Gigantism and dwarfism are also caused by the disproportionate secretion of the growth hormones. Human growth hormones are also been used in the treatment of cancer especially in the post cancer therapy for the hair growth, loss of muscles and decreased bone mass.
The global human growth hormone market is segmented according to the type, end users and geography. According to the product type, the market is segmented into spray, injections and pill. Spray form of growth hormone is administered sublingually through the mucous membrane. Injections are the most common and oldest form administration of human growth hormone, it is the most potent form and contains real recombinant growth hormones. Pills used the form of growth hormones that are not actual human growth hormones but they stimulate the pituitary gland to produce natural human growth hormone in the body. According to the end users the market is segmented into hospitals and private clinics. Geographically, the human growth hormone market can be segmented into North America, Europe, Asia Pacific, Latin America and Middle East and Africa.
The global growth hormone market is driven by increased use of bio similar drugs, improved therapeutic options for diseases like Alzheimer’s, rising number of cancer cases, rising prevalence of HIV/AIDS cases, increase in incidence of human growth hormone deficiency disease, growing aging population, technological advancement in the development of recombinant growth hormone. Increased disposable income and the willingness for better living are also increasing the demand for the development of human growth hormone. Whereas there are few restraining factors for the development of the market such as stringent regulatory approvals for recombinant DNA technology, high cost of treatment and adverse effects associated with the usage of synthetic growth hormone.
Geographically the U.S. leads the human growth hormone market due increase in the proportion of aging population as it is used as an anti – ageing agent, high incidence of turner syndrome, human growth deficiency disorder. Asia Pacific is the fastest growing market as there is increase in the healthcare expenditure, changing lifestyle due to increased disposable income thereby having accessibility and affordability for growth hormone injections and larger geriatric population in countries like India and China. Europe is a saturated market for human growth hormones. The expected growth in Europe during the forecast period can be only with innovation of needless injector devices. Latin America is expected to emerge as potential market for human growth hormone due increase in the disposable income and rising healthcare reforms. Middle East and Africa are slow emerging markets for human growth hormone due to low socio economic status in majority of the Middle East and Africa.
The leading players in the Human growth Hormone market are Pfizer Inc., Novo Nordisk, Merck Sereno, Eli Lilly, Sandoz Intrnational, Teva Pharmaceuticals and Roche.
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