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Human Growth Hormone Market Size Analysis
The human growth hormone market size is expected to increase by USD 1.16 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 5.44%.
This human growth hormone market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
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The development of long-acting and needle-free deliveries to improve adherence is notably driving the human growth hormone market growth, although factors such as the high cost of human growth hormone treatment may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the human growth hormone industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Human Growth Hormone Market Driver
The advancement of long-acting and needle-free delivery methods is a significant catalyst propelling growth in the human growth hormone market. In the United States, it is estimated that approximately 3%-5% of children grapple with short stature, defined as having a height below the 3rd percentile. Presently, most treatments for these conditions involve the use of needles for drug administration. However, recent research reveals that more than 60% of children aged 6-17 years harbour a fear of needles.
In response to this challenge, many manufacturers of growth hormone products are now dedicated to developing needle-free delivery mechanisms. These innovative initiatives are poised to make a substantial contribution to the growth of the human growth hormone market during the forecast period.
Key Human Growth Hormone Market Trend
The rising prevalence of growth disorders stands out as a significant trend in the human growth hormone market, bolstering its overall growth. Robust research and development efforts have led to a substantial pipeline of potential treatments in this field. Currently, the human growth hormone pipeline boasts approximately sixteen trials in either Phase II or Phase III stages of clinical development. Among these, several promising molecules target a range of growth disorders, including growth hormone deficiency, pediatric growth hormone deficiency, small for gestational age infants, Prader-Willi syndrome (PWS), acromegaly, and dwarfism.
Leading companies such as Novo Nordisk, Merck, and Pfizer have assembled strong pipelines within their portfolios to address various growth hormone disorders. Collectively, these factors are anticipated to propel the global human growth hormone market forward during the forecast period.
Key Human Growth Hormone Market Challenge
The high cost of human growth hormone treatment is one of the factors hindering the human growth hormone market growth. The estimate for the cost of human growth hormone therapy can only be evaluated once the condition, dosage, and treatment process are being defined for a particular individual. However, a few individuals have very low levels of human growth hormone, which result in spending around USD500 on human growth hormone supplements per month. Whereas for others, the minimal dosage of human growth hormone supplements costs around USD200 per month. Therefore, the high cost of these therapeutics is not affordable for many patients in developing and cost-sensitive regions, which, in turn, hinders human growth hormone market growth.
This human growth hormone market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
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37% of the market's growth will originate from North America during the forecast period. US and Canada are the key markets for the human growth hormone market in North America. Market growth in this region will be faster than the growth of the market in ROW.
Increasing demand for human growth hormone due to rising growth hormone deficiency diseases and technological advancement will facilitate the human growth hormone market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for Companies , which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The outbreak of COVID-19 in early 2020 led to a rise in the research on identifying and developing human growth hormones in the region. Moreover, by H2 2021, lockdown restrictions were lifted due to the initiation of vaccination drives in the region. This has led to the resumption of R and D for human growth hormone products apart from COVID-19 vaccines. Such factors are expected to drive the growth of the market during the forecast period.
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The human growth hormone market share growth by the growth hormone deficiency segment will be significant during the forecast period. In 2021, the growth hormone deficiency segment dominated the global human growth hormone market and is expected to maintain its dominance over the forecast period. According to an article published in NCBI by Adda Grimberg et al. in 2015, the estimated prevalence of 1 in 3500 children. Thus, the increasing incidence of growth hormone deficiency is expected to spur market growth during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the human growth hormone market size and actionable market insights on post COVID-19 impact on each segment.
The report analyzes the market's competitive landscape and offers information on several market Companies, including:
This statistical study of the human growth hormone market encompasses successful business strategies deployed by the key Companies. The human growth hormone market is concentrated and Companies are deploying growth strategies such as price, availability, brand, and variety to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market Companies should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The human growth hormone market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the human growth hormone market, which Companies can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help Companies drive costs and enhance customer services during the forecast period.
US Human Growth Hormone market - The market share will grow at a CAGR of 3.86 % over the period 2014-2019.
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Human Growth Hormone Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.44% |
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Market growth 2022-2026 |
USD 1.16 billion |
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Market structure |
Concentrated |
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YoY growth (%) |
4.29 |
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Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
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Performing market contribution |
North America at 37% |
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Key consumer countries |
US, Canada, Denmark, China, and India |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Abbott Laboratories, Anhui Anke Biotechnology Group Co. Ltd., Ascendis Pharma AS, F. Hoffmann La Roche Ltd., Ferring B.V., Ipsen Pharma, Merck and Co. Inc., Novo Nordisk AS, and Pfizer Inc. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Application
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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