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Human Growth Hormone Market to Exhibit Robust Growth
Human Growth Hormone Market Size is predicted to expand at an impressive 7.50% CAGR over the forecast period (2018-2023). Growth hormone (GH) popularly known as somatotropin or human growth hormone (HGH) is a peptide hormone which stimulates growth, cell regeneration and cell reproduction in humans as well as animals. Thus, it is crucial in human development. Major functions of such hormones include boost DE iodination of T4-T3, stimulate the immune system, cutdown uptake of glucose, stimulates growth of internal organs except the brain, increases protein synthesis, plays a pivotal part in homeostasis, promotes lipolysis, increase muscle mass, strengthen and increase mineralization of bones, increase calcium retention and increase height during childhood.
There are plentiful factors that is boosting the growth of the human growth hormone market. These factors as per the Market Research Future (MRFR) report include increasing incidences of serious chronic diseases, technological developments, creation of top-quality healthcare solutions, increased healthcare expenditure, burgeoning need for human growth hormone medicines, growing occurrence of deficiency diseases related to human growth hormone, and advancements namely recombinant DNA technology used for making growth hormone drugs. Besides, many key players are investing greatly and also collaborating for the R&D of growth hormone drugs that is driving the market growth. On the contrary, lack of awareness, strict regulatory approvals, adverse effects related with the use of synthetic growth hormones and low penetration of latest healthcare solutions are factors that may deter the human growth hormone market growth over the forecast period.
Human Growth Hormone Market Top Leaders Share Overview
Leading players profiled in the human growth hormone market include Lifetech Labs, Ipsen S.A., Merck KGaA, Zhongshan Hygene Biopharm Co. Ltd., Biopartners GmbH, Novartis AG, Genetech Inc., GeneScience Pharmaceuticals Co. Ltd., Eli Lilly and Company, Anhui Anke Biotechnology Co. Ltd., Novo Nordisk A/S, and Pfizer Inc.
Market Segmentation
MRFR report provides an extensive segmental analysis of the human growth hormone market on the basis of route of administration, brand, distribution channel and application.
Based on brand, it is segmented into omnitrope, sainzen, mumatrope, genotropin, norditropin and others. Of these, norditropin will have the maximum share in the market over the forecast period.
Based on application, the human growth hormone market is segmented into prader-willi syndrome, turner syndrome, small for gestational age, idiopathic short stature, growth hormone deficiency and others. Of these, growth hormone deficiency will lead the market over the forecast period.
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Based on route of administration, it is segmented into oral, intravenous, intramuscular and subcutaneous. Of these, subcutaneous will dominate the market over the forecast period.
Based on distribution channel, the human growth hormone market is segmented into e-commerce websites, retail pharmacies, clinics and hospital pharmacies. Of these, hospital pharmacies will have maximum share in the market over the forecast period.
Regional Analysis
By region, the human growth hormone market covers growth opportunities and latest trends across Americas, Asia Pacific, Europe and Middle East and Africa. Of these, Americas will garner highest share in the market owing to widespread awareness about human growth hormone amid consumers, high healthcare spending and increasing incidence of human growth hormone deficiency. The human growth hormone market in the European region will have the second major share followed by Asia Pacific. Sales of such hormones in GCC countries too have picked up pace that brings the Middle East and Africa under the radar of market experts operating on the global level.
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