Estimated to exceed the revenue of around US$3 Bn in 2021, global growth hormone market is poised for a healthy growth curve in the near future.
Turner Syndrome to Fuel Growth of Growth Hormone Market
The concentration of growth hormone in human body begins to decrease slowly as the growth hormone production reduces by about 12-14% every 10 years, making the muscles progressively weaker and fatter. If an adult has growth hormone deficiency, their bodies have a reduced ability to use oxygen and energy when resting or working. There are numerous ways of boosting the hormone, such as by replacement therapy, and natural approaches. Utilised widely in medicines that heal the growth disorders in children, and hormone deficiency in adults, growth hormone therapy continues to grow in popularity. The natural ageing process can be slowed down by injections of artificially synthesised somatotropin. The synthetic hormone may also be necessary for some people based on health grounds. These are likely to remain the key factors driving the growth of global growth hormone market.
Females who have Turner syndrome suffer from an uncommon chromosomal condition. One of the X chromosomes may be lost entirely or partially, which defines the Staten. A wide neck, a low or undetectable hairline, a propensity to develop high blood pressure, mild vision issues, drooping eyelids, and an underactive thyroid gland are all signs of Turner syndrome. Turner syndrome sufferers are more likely to develop COVID-19-related severe diseases. Patients with Turner syndrome also frequently have congenital heart problems, such as a bicuspid aortic valve. Severe COVID-19 issues might arise from underlying medical conditions such as heart disease. Intractable & Rare Diseases Research (2018) reported a study by Xiaoxiao Cui et al. showing Turner syndrome (TS) is a moderately common type of human chromosomal aberration in 1:2,500 live female births. It is widespread in China. Turner syndrome is linked to numerous consequences that can affect the heart, autoimmune illnesses, mental health, hearing loss, infertility, and pregnancy troubles. As a result, a growing need for treatments that use growth hormones drives the expansion of growth hormone market.
Global growth hormone market is predicted to develop as more public and private groups raise awareness about the early detection and treatment of Turner syndrome. For instance, non-profit groups like the Turner Syndrome Foundation, Turner Syndrome Society of the United States, and Turner Syndrome Support Society in the United Kingdom commemorate "Turner Syndrome Awareness Month" in February and have started a national awareness campaign. Additionally, growth hormone market is expected to grow due to increased research and effective therapies for TS development. For instance, the future generation of treatment for would be based on stem cells and regenerative medicine, according to the research report published in the Intractable & Rare Diseases Research 2018.
Increase in Hospital Visits to Drive Growth Hormone Market Forward
The market for human growth hormones has been divided into hospital pharmacies, retail pharmacies, online pharmacies, and specialty pharmacies based on the distribution channel. The hospital pharmacy market held a sizable portion. This high percentage is ascribed to increased hospital visits due to growing public awareness of human GH insufficiency and its therapy. According to the Children's Hospital of Philadelphia (CHOP), the number of beneficiaries receiving growth hormone prescriptions has climbed from 5.1 in 2001 to 14.6 in 2021. Growth hormone, also known as somatotropin, is a 191 amino acid single-chain polypeptide hormone that is produced by the somatotropic cells of the anterior pituitary gland. The primary function of the growth hormone is to stimulate development, regeneration, and growth. It is responsible for the growth of every tissue and organ and controls metabolism. However, deficiency in the growth hormone might result in decreased skeletal muscle, low bone density, and lack of energy.
Increased R&D Activity to Drive Growth of North America’s Growth Hormone Market
North America is the largest user of growth hormone and is expected to grow fastest throughout the forecast period. Increased R&D activity, attractive reimbursement policies, a well-established healthcare infrastructure, considerable government initiatives, and rising healthcare awareness are the leading growth influencers for the growth hormone market in the United States. According to Foundation for Prader-Willi Research registry data from August 2020, COVID-19 regulations in the United States affect access to medical treatment and therapies for people with Prader-Willi syndrome. In addition, temporary access to physical, occupational, speech, and psychological therapy was impacted by COVID-19-related restrictions. Access to Prader-Willi Syndrome-related treatments decreased by 60–80%. In the United States10,000 and 20,000 people live with Prader-Willi syndrome (PWS), a rare genetic illness, according to a study by Jessica Bohonowych et al. s p. published in the Genes Journal in 2019.
According to the American Academy of Pediatrics, growth hormone deficiency is an uncommon illness that affects less than one in 3,000 to one in 10,000 children in the United States. Treating chronic renal failure, growth hormone deficiency (GHD), gestational age or intrauterine growth retardation, Turner's syndrome, Prader-Willi syndrome, and cachexia in the US has been made possible by the widespread availability of recombinant growth hormone. Additionally, growing public awareness of growth hormone deficiency and its therapy is anticipated to accelerate the expansion of growth hormone market.
For instance, the International Coalition of Organizations Supporting Endocrine Patients (ICOSEP) observes Children's Growth Awareness Day to raise awareness regarding the early detection and treatment of growth hormone abnormalities. The growing number of pipeline pharmaceuticals results from increased research and development efforts in creating efficient therapies. For instance, in October 2019, Pfizer Inc., and its partner OPKO Health Inc. stated that the primary endpoint of their Phase III research testing Somatrogon's non-inferiority to daily somatropin in pre-pubertal children using human growth hormone had been met. North America’s growth hormone market is thus anticipated to grow throughout the projection period due to the variables above.
Global Growth Hormone Market: Competitive Landscape
Pfizer Inc. began Phase III clinical research in February 2021 to examine the effectiveness and security of somatropin in a cohort of Japanese patients with Prader-Willi Syndrome (PWS). On the other hand, A Phase III clinical trial to examine the impact of growth hormone therapy (Genotropin) on the physical and psychosocial health of adults with Prader-Willi syndrome who are 30 years of age or older was launched by Erasmus Medical Center in October 2020 in partnership with Pfizer, the Foundation for Prader-Willi Research, and the Prader-Willi Fonds. A few of the key players in global growth hormone market include CK KGaA, Ipsen S.A., Novo Nordisk A/S, Eli Lily and Company, Pfizer Inc., Anhui Anke Biotechnology (Group) Co., Ltd, Novartis AG, LG Chem Ltd., Ferring B.V., and Genetech Inc. (Roche Group).
The global growth hormone market is segmented as below:
By Distribution Channel
Key Elements Included In The Study: Global Growth Hormone Market
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