Growth Hormone Market Analysis, Revenue, Price, Market Share, Growth Rate, Forecast to 2030

 The growth hormone industry size is projected to escalate at a significant pace in the years to come. The growth would come from the rising cases of growth hormone deficiencies. As per a study by Oregon Health and Science University, growth hormone deficiency is a rare condition that affects nearly 1 in 4,000 to 6,000 children in the US. About 5,000 adults in the country are anticipated to be living with the condition.

With the prevalence just increasing, the demand for growth hormone is soaring to new heights worldwide over the recent years. In this regard, various firms have begun innovating the development and marketing of growth hormone medicines and drugs that seek the reduction in the prevalence of the rare condition. For instance, Pfizer, in 2022, announced receiving a green signal from the EU for long-acting human growth hormone in the European continent.

Following such advancements, the global growth hormone market is envisaged to grow beyond $5.5 billion over the span of 2022-2030, as suggested by Global Market Insights Inc.

Given below are prominent factors supporting the development of growth hormones worldwide-

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1. Surging Prader-Willi Syndrome cases

According to Rarediseases.org statistics, Prader-Willi syndrome (PWS) impacts nearly 350,000 to 400,000 individuals globally. The ailment is a genetic disorder characterized during infancy by diminished muscle tone, lethargy, and feeding difficulties with poor weight gain and growth. In childhood, the features of the syndrome include excessive appetite and short stature.

Under such condition, the human growth hormone treatment would emerge as an ideal option for the PWS therapy. The product is efficient in not only increasing the height but also in decreasing the body fat, improving weight distribution, increasing bone mineral density, and enhancing stamina. The treatment had received a green signal by the US Federal Drug Administration to treat children with the condition.

2. Rising inclination towards online pharmacies and medstores

The demand for online pharmacies is gradually surging over time with the growing penetration of internet and smartphones. The COVID-19 has potentially spurred this demand multifold as online pharmacy stores have played an important role in delivering crucial medication to their customers.

An increase in number of people enjoying benefits of ordering medication online and heavy discounts are expected to add to the growth of online medstores segment across the market. The segment was valued at USD 300 million in 2021 and is poised to grow exponentially over the forthcoming years.

Browse key industry insights spread across 180 pages with 182 market data tables & 14 figures & charts from the report, “Growth Hormone Market Size By Product (Powder, Solvent), By Application (Growth Hormone Deficiency, Idiopathic Short Stature, Turner Syndrome, Small For Gestational Age, Prader-Willi Syndrome), By Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Online Medstores), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2022 – 2030” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/growth-harmone-market

3. Canada- a thriving market for growth hormone industry

In Canada, there are nearly 1,600 children living with growth hormone deficiency. This has led different pharmaceutical companies and governments to work towards the launch of effective medications and treatments in the country to curb the incidence of growth hormone ailments.

For example, Pfizer Canada ULC unveiled its next generation long-acting growth hormone injection approved by Health Canada. Known as PrNGENLA, the treatment is a once-weekly human growth hormone for pediatric patients who have growth failure due to insufficient secretion of endogenous GH.

In a nutshell, an upsurge in cases of growth hormone deficiency ailments worldwide would produce an innate need for human growth hormone treatment. This is projected to generate lucrative opportunities for the market players to seek the development of new projects and solutions to alleviate the condition spurt.

Partial Table of Contents (ToC) of the report:

Chapter 1   Methodology

1.1    Methodology

1.2    Base estimates & working

1.3    Forecast calculations

1.4    Data validation

Chapter 2   Executive Summary

2.1    Growth hormone industry 3600 synopsis, 2017 – 2030

2.1.1    Business trends

2.1.2    Product trends

2.1.3    Application trends

2.1.4    Distribution channel trends

Browse complete table of content of this report@ https://www.gminsights.com/industry-analysis/growth-harmone-market

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