What is the global market size of Growth Hormone Deficiency Market?

Global Growth Hormone Deficiency Market size was valued at USD 3.47 billion in 2022 and is poised to grow from USD 3.70 billion in 2023 to USD 6.12 billion by 2031, growing at a CAGR of 6.50% in the forecast period (2024-2031).

What is the key market trend for Global Growth Hormone Deficiency Market?

The pharmaceutical industry is poised for tremendous growth due to rapid advancements in drug delivery. Pioneering innovations such as wearables, needleless devices and autoinjectors have been central, improving the high level of comfort and patient compliance with growth hormone therapy delivery Notably the rapid availability of long-acting drugs and implantable devices is feasible, allowing for longer delivery times and longer delivery of growth hormone to reduce dose frequency Not that these improvements provide not only improve clinical outcomes, but improve the overall patient experience, expanding the availability and efficacy of growth hormone therapies.

Which region accounted for the largest share in Global Growth Hormone Deficiency Market?

By 2022, North America emerged as the leading country in the growth hormone therapy market, commanding a substantial 42.27% of the total revenue, This leadership position can be attributed to improved health awareness among the population , outstanding government programs and good reimbursement programs in the region With more money, organizations dedicated to increasing awareness and treatment in the region are expected to contribute significantly to expansion of the market reaffirming the important role of North America in the development of growth hormone therapies.

Growth Hormone Deficiency Market Updates

Q: Who are the key vendors in the Global Growth Hormone Deficiency Market?

The competitive environment of the global Growth Hormone Deficiency market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. Innovation is a key competitive factor. 'Pfizer (US)', 'Eli Lilly and Company (US)', 'Genentech (US)', 'Novo Nordisk (Denmark)', 'Merck & Co. (US)', 'Sandoz International (Switzerland)', 'Ferring Pharmaceuticals (Switzerland)', 'Ipsen (France)', 'Teva Pharmaceutical Industries (Israel)', 'GeneScience Pharmaceuticals (China)', 'LG Chem (South Korea)', 'Anhui Anke Biotechnology Group (China)', 'Biopartners (Switzerland)', 'Procter & Gamble (US)', 'Endo International (Ireland)', 'LG Life Sciences (South Korea)', 'Versartis (US)', 'Opko Health (US)', 'LG Electronics (South Korea)', 'Rani Therapeutics (US)'.

Growth Hormone Deficiency Market News

In August 2023, Genexine's weekly growth hormone, eftansomatropin alfa, has equaled daily injections in a pivotal China trial, positioning it, along with partners I-Mab and Jumpcan, for approval filing next year and eventual medicine launch. The Phase 3 trial compared eftansomatropin alfa to Norditropin, demonstrating comparable height velocity in children with growth hormone deficiency, meeting primary endpoint.
In June 2023, Pfizer Inc. and OPKO Health Inc. disclosed that the U.S. Food and Drug Administration (FDA) has approved NGENLA (somatrogon-ghla), a human growth hormone analog administered once weekly. This medication is indicated for treating pediatric patients aged three years and older experiencing growth failure due to insufficient secretion of natural growth hormone. NGENLA is anticipated to be accessible for prescribing in the United States starting August 2023.

FAQs

Growth Hormone Deficiency Market size was valued at USD 3.7 Billion in 2023 and is poised to grow from USD 3.94 Billion in 2024 to USD 6.52 Billion by 2032, growing at a CAGR of 6.50% during the forecast period (2025-2032).

The competitive environment of the Growth Hormone Deficiency market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. Innovation is a key competitive factor. Leading brands invest in research and development to introduce new flavors, packaging formats, and health-focused variations to cater to changing consumer preferences. They often set the trends in the industry. 'Pfizer (US)', 'Eli Lilly and Company (US)', 'Genentech (US)', 'Novo Nordisk (Denmark)', 'Merck & Co. (US)', 'Sandoz International (Switzerland)', 'Ferring Pharmaceuticals (Switzerland)', 'Ipsen (France)', 'Teva Pharmaceutical Industries (Israel)', 'GeneScience Pharmaceuticals (China)', 'LG Chem (South Korea)', 'Anhui Anke Biotechnology Group (China)', 'Biopartners (Switzerland)', 'Procter & Gamble (US)', 'Endo International (Ireland)', 'LG Life Sciences (South Korea)', 'Versartis (US)', 'Opko Health (US)', 'LG Electronics (South Korea)', 'Rani Therapeutics (US)'

Human growth hormone (HGH), also referred to as somatotropin, plays a pivotal role in human development by facilitating cell growth, division, and regeneration. Insufficient synthesis of growth hormone (GH) by the pituitary gland leads to a deficiency of hGH in humans. The remedy for this deficiency involves the subcutaneous administration of recombinant human growth hormone. Genetic disorders such as Prader-Willi syndrome and Turner syndrome, characterized by delayed puberty and shorter stature, can also contribute to growth hormone insufficiency.

The pharmaceutical industry is poised for substantial progress as a result of rapid advancements in drug delivery systems. Pioneering innovations, including wearable patches, needle-free devices, and autoinjectors, have taken center stage, offering heightened convenience and improved patient compliance in the administration of growth hormone therapies. Notably, the introduction of long-acting formulations and implantable devices is gaining momentum, enabling extended-release and sustained delivery of growth hormone, thereby reducing dosing frequency. These breakthroughs not only elevate treatment outcomes but also enhance overall patient experiences, while simultaneously broadening the accessibility and effectiveness of growth hormone therapies. The evolving landscape of drug delivery systems presents lucrative opportunities for the industry's continual growth.

In 2023, North America emerged as the frontrunner in the growth hormone therapies market, commanding a substantial 42.27% share of the overall revenue. This leadership position can be attributed to heightened healthcare awareness among the population, notable government initiatives, and favorable reimbursement policies prevalent in the region. The consistent increase in research and development activities, coupled with ample funding for research initiatives, further underscores North America's pivotal role in advancing growth hormone therapies. The presence of organizations dedicated to enhancing awareness and treatment rates in the region is expected to contribute significantly to the expansion of the market.