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Europe Growth Hormone Market Forecast 2027 By Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Online Medstores), By Product (Powder, Solvent), By Application (Growth Hormone Deficiency, Idiopathic Short Stature, Turner Syndrome, Small For Gestational Age, Prader-Willi Syndrome), Research Report, Country Outlook (Germany, France, UK, Italy, Spain, Russia, Netherlands, Denmark, Poland), COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share
Published Date: October 2021 | Publisher: Graphical Research Report ID: GR1983 | Delivery : PDF  Request Free Sample

Europe Growth Hormone Market size crossed USD 1 billion in 2020 and is anticipated to exhibit a CAGR of 7% between 2021 and 2027. Increasing R&D activities in the growth hormone industry will ensure steady market demand.

 

Europe Growth Hormone Market

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The R&D activities in the market are growing due to the increasing partnership as well as merger and acquisition between various companies coupled with robust product pipeline. For instance, in January 2021, the FDA accepted OPKO and Pfizer Biologic Licensing Application (BLA) for TransCon hGH for the treatment of paediatric patients. Similarly, in September 2020, Ascendis Pharma A/S filed an application with the European Medicines Agency seeking marketing authorization for a therapy to treat growth hormone deficiency in children.

Europe Market, By Product

The solvent product segment is poised to witness a growth rate of 8% through 2027, owing to rising need for growth hormone treatment coupled with increasing prevalence of Prader-Willi syndrome and growth hormone deficiency in Europe. Growth hormones are widely supplied in either solvent or powder form. Various manufacturers are focusing on introducing solvent based products.

Europe Market, By Application

 Europe Growth Hormone Market, By Application

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The small for gestational age segment will likely showcase over 6.9% growth during the forecast timeline, due to its increasing prevalence across the Europe. According to the data published by Tommy’s Organization, in UK, approximately 60,000 babies are born prematurely every year. That means 1 in every 13 babies born in the UK is born premature (before 37 weeks of pregnancy). Therefore, to reduce the risk of small for gestational cases the demand for growth hormone is on the rise.

Europe Market, By Distribution Channel

The hospital pharmacy segment accounted for more than USD 562 million in 2020, as hospital pharmacies are distributing human growth hormone drugs at lower cost as compared to others.

Rising government spending for the development of advanced healthcare centres and hospitals pharmacies are some factors that drives the overall segment progression. In addition, growing rate of diagnosis of various growth disorders in hospital settings will push the demand for growth hormone medication in hospital pharmacies.

Europe Market, By Country

France growth hormone market held around 20% market share in 2020, attributed to rising number of population base getting diagnosed with growth hormone deficiency. Also, companies are focusing on various strategic initiatives including partnerships that surges the industry progression.

For instances, in September 2021, Eli Lilly collaborated with Lycia Therapeutics, to gain access to its lysosomal targeting chimera (LYTAC) protein degradation technology. Similarly, Ascedis Pharma expected to launch Skytrofa, a growth hormone drug in Europe by the end of year. The development will significantly improve the position of company in the industry.

Competitive Industry Landscape

Some of the industry leaders include Novo Nordisk A/S, Pfizer Inc., Novartis AG, Eli Lily and Company, Merck KGaA, Ipsen S.A., LG Chem Ltd., Ferring B.V., and Genetech Inc. (Roche Group).

These industry participants have undertaken numerous strategies including acquisitions and new product launches that have helped them to gain competitive advantage over others. For instance, in September 2021, BIOCORP, a French medical devices maker announced partnership with Merck & Co Inc. for the development and supply of a specific version of Mallya device, to monitor adherence of the human growth hormone. This novel strategy will help the company gain significant momentum.
 

Frequently Asked Question(FAQ) :

The market value for growth hormone in Europe was exceeded USD 1 billion in 2020 and is set to grow at a CAGR of 7% from 2021 to 2027 with an increase in R&D activities.
The market share from solvent product application will expand at a rate of 8% up to 2027 owing to the surging prevalence of Prader-Willi syndrome and growth hormone deficiency in the region.
The market revenue from hospital pharmacies recorded over USD 562 million in 2020 and will grow on account of lower cost of human growth hormone drugs offered by these facilities.
The market for growth hormone in France accounted for nearly 20% of the industry revenue in 2020 and will expand with the increasing diagnosis of growth hormone deficiency in the country.
Major companies across the Europe industry comprise Novartis AG, Novo Nordisk A/S, Ferring B.V., Genetech, Inc., Merck KGaA, Pfizer, Inc., LG Chem Ltd., Eli Lily and Company, and others.

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