The human growth hormone market was $4,399.4 million in the year 2021, and it will grow at a rate of about 14% and reach $14,498.3 million by the end of this decade. The peptide hormone is produced by the pituitary gland, stimulating the development of teenagers and children. The process of Specific cellular differentiation helps in the forming of the skeletal system. The hormone affects, protein metabolism, carbohydrate metabolism, and fat metabolism, furthermore increasing growth.
Because of the growing acquiescence to the treatments of growth hormone-related ailments and a number of growth opportunities on offer, India, and China, will have a major demand for human growth hormone. Owing to being the home of over 50% of the global population, India and the People’s Republic are key opportunistic countries for the healthcare sector. Consequently, medicine companies are spending expansively in these nations, which will lead to an increase in the production of human growth hormone.
Hospital pharmacies accounted for major demand in the human growth hormone market having a share in excess of 45%, in the year 2021. This was because of the partiality for artificial or recombinant variants of this hormone and the ease of availability in the hospitals. Furthermore, the increasing consciousness of the shortage of growth hormone along with the increasing count of visits to the hospitals for treatment will drive the hospital pharmacy distribution industry.
North America human growth hormone market had a share above 40% in the year 2021. The surge in the elderly population, along with the high incidences of Turner syndrome, Noonan syndrome, and short bowel syndrome can be associated with the demand for treatment in the U.S. Other aspects comprise advantageous reimbursement strategies, important initiatives taken by the government, cognizance among people, and recognized healthcare infrastructure in the nation.
The demand for human growth hormone treatments is on the high because of a number of product approval and launches. Apart from this, it is also because of the growing cases of rare diseases.
