The human growth hormone Market is extremely useful because it is responsible for the regeneration as well as growth of cells. It also stimulates cell reproduction. With growing incidences of deficiency of growth hormone among people, the demand for human growth hormone is increasing manifold. With the development of recombinant human growth hormone by industry players, this market is expected to boom in the coming few years. According to a recent research report by Transparency Market Research (TMR), the market for human growth hormone worldwide will witness a CAGR of 6.2% between 2017 and 2026. This market is anticipated to be worth US$ 5,261.5 mn in terms of revenue by 2026 end.
The following blog post answers a few important questions regarding the global human growth hormone by expert TMR analysts:
Q. Which indication is expected to command highest demand for human growth hormone?
Among the various indications such as Turner syndrome, prader willi syndrome, growth hormone deficiency, and idiopathic short stature, the demand for growth hormone deficiency is expected to be the highest. The growth hormone deficiencies expected to create an opportunity of US$ 1,100 mn by 2026. In recent times, there is a rise in the deficiency of growth hormones which in turn is leading to pituitary tumors, skeleton abnormalities, and metabolic abnormalities. The growing number of adults with growth hormone deficiency is also increasing across the globe, this in turn is inspiring the demand for growth hormone injections as these injections help in protecting them from increased muscle mass, reduces the risk of heart diseases, and fractures.
Q. What are the factors which are restricting or challenging the demand for human growth hormone?
The high cost of drugs is a factor which may hamper the demand for human growth hormone. The side effects caused due to the human growth hormone is anticipated to threaten the demand for the same. With increasing incidences of the use of off label human growth hormone, this market is expected to be impacted negatively. Moreover, weightlifters illicitly using human growth hormone has become extremely common in America. This will also create a negative publicity and restrict the growth of this market. Moreover, the rising illicit use of human growth hormone is resulting in a form of drug abuse which has extremely severe complications on the health of the person. All these factors are expected to challenge the growth of this market. On a bright note however, market players are focusing on R&D so as to develop advanced hormonal therapy which has fewer adverse effects.
Q. Which region showcases the highest demand for human growth hormone?
At present, North America accounts for the lion’s share in terms of highest consumption of human growth hormone. The rising affordability of costly human growth hormones is one of the key factors boosting the demand for human growth hormone in North America. In addition to this, the presence of a large number of local companies is also helping this market to grow in the region. Plus, the availability of several types of human growth hormone drugs in the US for treating the deficiency of growth hormone is also boosting the growth of this market. The ongoing research and development within the market is also helping this market to grow in North America.
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