The human growth hormone market is anticipated to grow at a significant CAGR during the forecast period. The market growth is attributed to the growing demand for human growth hormone for cosmetic treatment. Human growth hormone such as IGF-1 is widely used as an anti-aging treatment. This hormone can increase the thickness and flexibility of skin and reduction of wrinkles caused by ultraviolet rays. Hence, the growing aging population is expected to fuel the demand for human growth hormone globally. Other factors such as advancement in technology such as recombinant DNA technology for the development of human growth hormone drugs and increasing investment and collaborating amongmajor players for the R&D of human growth hormone drugs are also fueling the market growth.
Request a Free Sample of our Global Human Growth Hormone Market: https://www.omrglobal.com/request-sample/human-growth-hormone-market
In addition, rising incidences of human growth hormone deficiency diseases propel the growth of the human growth hormone market during the forecast period. According to the National Organization for Rare Disorders, Inc.(NORD), growth hormone deficiency diseases occur in roughly 1 in 7,000 births. The condition is also a symptom of several genetic diseases, including Noonan syndrome, Turner syndrome and Prader-Willi syndrome.Owing to growing cases of these growth hormone deficiency diseases, the market for human growth hormone is expected to grow. FDA has approved various treatments for growth hormone deficiency. For instance,Nutropin, Humatrope, Genotropin, Saizen, Norditropin, Tev-Tropin, and Omnitropeare approved by the FDA for the treatment of growth hormone deficiency.
However,the high cost of these products is expected to limit the growth of the market. Along with it, stringent regulatory approvals and adverse effects associated with the use of synthetic human growth hormones are the factors hampering the growth of the human growth hormone market.Many companies are investing in R&D of long-acting hormonal therapy which is expected to create enormous opportunities for market growth. For instance, in 2016, Novo Nordisk invested multimillion-dollar in Lebanon to enhance the supply in a rural community. These produce medicines to treat hemophilia and growth disorders.
A full Report of Global Human Growth Hormone Market is Available at: https://www.omrglobal.com/industry-reports/human-growth-hormone-market
Global Human Growth Hormone Market Segmentation
By Application
- Growth Hormone Deficiency
- Prader-Willi Syndrome
- Chronic Kidney Disease
- Turner Syndrome
- Small for gestational stage
- Others (Short Bowel Syndrome)
By Route of Administration
- Intravenous
- Intramuscular
- Subcutaneous
- Oral
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
