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APAC Growth Hormone Market revenue to cross $1.1 Bn by 2027
Published Date: 2021-11-19
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APAC Growth Hormone Market size is poised to surpass USD 1.1 billion by 2027, according to a latest forecast report by Graphical Research.
Awareness is a foremost aspect when it comes to any rare health condition. If the awareness about the disorder is unknown or less, there are greater chances of it getting ignored and can further be undiagnosed. Similar is the case with growth diseases. There is a scanty study available concerning the underlying symptoms of the different growth conditions and their progression. In most of the developing economies, these disorders have been undiagnosed or misdiagnosed for a long time. However, the scenario has changed in last few years. Numerous efforts have been made to surge the awareness level regarding children growth. Different awareness programs and campaigns are also being organized that fosters the market size. As a result of these programs, large number of population base in the developing economies are getting diagnosed with growth disorders.
The solvent segment held around USD 240 million revenue in 2020. The most extensively used product in this segment include Norditropin and Nutropin that are supplied in the form of solvent/solution in different concentrations that fosters the market value. Also, rising sales of these brands across the Asia pacific is expected to foster the market progression.
Browse detailed statistical insights from the report, “Asia Pacific Growth Hormone Market Forecast 2027 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), Research Report, Country Outlook (Japan, China, India, South Korea, Australia, Singapore, Philippines, Thailand, Indonesia), COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share” along with the table of contents (ToC) @
The growth hormone deficiency segment dominated more than USD 317 million revenue in 2020, owing to rising prevalence of GH deficiency. Growth hormone deficiency in humans can be caused by a variety of genetic illnesses that further results into delayed puberty. Also, GH deficiency leads to several growth dysfunctions such as underdevelopment of body parts as well as shortness of height among others. Children with growth hormone deficiency are usually treated with synthetic growth hormones until their puberty that secures the market revenue.
The online medstore segment accounted over USD 54 million revenue size in 2020, owing to rising demand for purchasing online medicine due to COVID-19 pandemic. Access to high-speed internet and rising smartphone usage have made it possible to access e-commerce websites even in India's most rural and remote areas. Moreover, with the ease of use, home delivery of medicines, higher discount on MRP of medicines offered by online pharmacies, further attracts a large number of customer base. Hence, above-mentioned aspects propel the overall industry expansion.
India growth hormone industry is projected to exhibit a CAGR of 10% CAGR during the forecast period, due to increasing research and development activities. Presence of numerous industry players and favorable government initiatives to raise awareness regarding growth hormone deficiency will boost market growth.
APAC growth hormone market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2016 to 2027, for the following segments:
Asia Pacific Market, By Product
Asia Pacific Market, By Application
- Growth Hormone Deficiency
- Idiopathic Short Stature
- Turner Syndrome
- Small For Gestational Age
- Prader-Willi Syndrome
Asia Pacific Market, By Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Online Medstores
The above information has been provided for the following countries:
- Asia Pacific
- South Korea
- The Philippine