The global human growth hormone market size is expected to reach a value of USD 8.5 billion by 2027, registering a CAGR of 8.2% over the forecast period, according to a new report by Grand View Research, Inc. Introduction of novel therapies, increasing R&D activities, and the rising awareness for the diagnosis and treatment of growth hormone (GH) disorders are expected to drive the market over the forecast period.
Key
players operating in the market are involved in extensive R&D activities
for the development of novel GH therapies to strengthen their position in the
market. For instance, in October 2019, VISEN Pharmaceuticals, a joint venture
of Denmark-based Ascendis Pharma A/S, received approval from the China National
Drug Administration (NMPA) for its new drug (IND) application to start Phase
III clinical study of TransCon hGH. Furthermore, two South Korean companies,
Genexine Inc. and Handok Inc. are conducting a Phase II clinical trial study on
GX-H9, a recombinant human GH for the treatment of adult and pediatric GH
deficiency.
Furthermore,
an increase in the number of regulatory approvals and the launch of novel HGH
therapies are expected to fuel the market over the forecast period. For
instance, in January 2018, Ferring Pharmaceuticals Inc., a Switzerland-based
pharmaceutical company, received United States Food and Drug Administration
(USFDA) approval for its new recombinant HGH, Zomacton (somatropin), indicated
for the treatment of adult patients with GH deficiency.
Various
government and private organizations have been undertaking initiatives and
programs to spread awareness about GH deficiency and facilitate timely
diagnosis and treatment. Nonprofit organizations such as the Human Growth
Foundation are engaged in providing research support and spreading awareness
about GH deficiency and its treatment. Such initiatives are expected to drive
the demand for hGH treatment therapies.
Full Research Report On Human Growth Hormone Market Visit Here:
https://www.grandviewresearch.com/industry-analysis/human-growth-hormone-drugs-market
Human Growth
Hormone Market Report Highlights
- GH deficiency was the
largest application segment in 2019 owing to an increase in regulatory
approvals and the launch of novel therapies
- Rising awareness about GH
deficiency, coupled with increasing hospital visits for its treatment, is
expected to drive the hospital pharmacy distribution channel segment
- North America dominated the
human growth hormone market with the largest share in 2019. This is
attributed to favorable reimbursement scenario, high awareness, and the
presence of major players in the region
- Asia Pacific is projected to
witness a lucrative CAGR over the forecast period owing to increasing
penetration of key players with their new growth hormone therapies
- The key players include Novo
Nordisk A/S; Pfizer Inc.; Eli Lilly and Company; Sandoz International GmbH
(Novartis AG); Merck KGaA; Genentech, Inc. (Roche); Ferring
Pharmaceuticals; Teva Pharmaceutical Industries, Ltd; and Ipsen.
Request a Sample Copy of the Report @
https://www.grandviewresearch.com/industry-analysis/human-growth-hormone-drugs-market/request/rs1
Human Growth
Hormone Market Segmentation
Grand View Research has segmented
the global human growth hormone market on the basis of application,
distribution channel, and region:
Human Growth
Hormone (HGH) Application Outlook (Revenue, USD Million, 2016 - 2027)
- Growth Hormone (GH)
Deficiency
- Adult GH Deficiency
- Pediatric GH Deficiency
- Turner Syndrome
- Idiopathic Short Stature
- Prader-Willi Syndrome
- Small for Gestational Age
- Other
Human Growth
Hormone (HGH) Distribution Channel Outlook (Revenue, USD Million, 2016 - 2027)
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
- Specialty Pharmacy
Human Growth
Hormone (HGH) Regional Outlook (Revenue, USD Million, 2016 - 2027)
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Asia Pacific
- Japan
- China
- India
- South Korea
- Singapore
- Australia
- Latin America
- Brazil
- Mexico
- Argentina
- MEA
- South Africa
- Saudi Arabia
- UAE
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
No comments:
Post a Comment