The rising incidence of GH deficiency among the population globally and other major driving factors is expected to favour the rise in the global growth hormone deficiency market
Global Growth Hormone Deficiency Market, By Application (adult growth hormone deficiency and pediatric growth hormone deficiency), By Treatment type (Surgery and Growth Hormone Therapy), By End-user (Hospitals, Clinics, and Homecare settings), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a significant CAGR for the period between 2020 and 2028.
The global growth hormone deficiency market in 2020 is estimated for more than US$ xx Bn and expected to reach a value of US$ xx Bn by 2028 with a significant CAGR of xx%.
Growth hormone deficiency (GHD) is an outcome of poor functioning of the hypothalamic-pituitary axis either at the pituitary or hypothalamic levels. GH deficiency might be present in blend with other pituitary shortcomings, for instance, various pituitary hormone deficiency (MPHD) or as a solitary shortfall.
The prevalence of GH deficiency is approximated between 1:4000 and 1:10,000. Even though the precise reason of growth hormone deficiency is unclear, it is believed to be of genetic lineage or it also has a possibility to develop after a brain injury, trauma, due to pituitary tumors and many other reasons. The incidence of GH deficiency among children reflects delayed growth and oftentimes retarded adolescence. The signs and symptoms of GH deficiency is likely to differ among children and adults. The foremost indication among children is that the child is anonymously lesser than other kids of their age, irrespective of the jeopardize in intellectual intelligence while in adults, growth hormone deficiency is likely to lead to tiredness, fatigue, depression and anxiety.
The GH deficiency can be medically treated with growth hormone drugs and injections on a weekly or a daily basis however the personal effects of medications may start reflecting after a couple of months of medication and entire treatment procedure. One of the prime factors that is accelerating the growth of the global growth hormone deficiency market is the elevating cases of GH deficiency among the population, especially children, worldwide.
In addition to that, the awareness among the masses regarding the massive significance of growth hormones as well as the development of cost-efficient therapeutics for GH deficiency is also playing a substantial role in boosting the growth of the global growth hormone deficiency market.
However, certain side-effects of GH deficiency drugs, including fluid retention, joint pain, and muscle pain is likely to act as a restraining factor for the growth of the global growth hormone deficiency market in the years to come. Nevertheless, rapid surge in the FDA approvals is further offering numerous lucrative growth opportunities for the global growth hormone deficiency market in the coming years.
MMC Study identifies some of the key participating players in the growth hormone deficiency market globally are Sandoz International GmbH, Sanofi-Aventis, Pfizer, Novo Nordisk A/S, Teva Pharmaceutical Industries Limited, Ranbaxy, EMD Serono, Inc., Sun Pharmaceutical Industries Ltd., Eli Lilly and Company, Ferring Holding SA, Genentech, Inc., Merck & Co., Inc., Ipsen, GeneScience Pharmaceuticals Co., Ltd., and Roche Holdings, Inc., among others.
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