North American Growth Hormone Market size is projected to cross USD 2.2 billion by 2027, according to a latest forecast report by Graphical Research.
Growth hormone therapy enables clinicians to select medications and provide accurate treatment for both pediatric as well as adult growth hormone deficiency. Growth hormone supports longitudinal growth in adolescents and affects a variety of metabolic functions in adults, including protein production, fat utilization, insulin level, and blood sugar level. The growth hormone (GH) deficiency is caused when the pituitary gland does not produce enough growth hormone to perform normal body functions. Growth hormone deficiency can lead to various chronic conditions including genetic disorders such as Turner syndrome and Prader-Willi syndrome. Patients with GH deficiency are treated with subcutaneous injections of recombinant human growth hormone. Growth hormone therapy is only used in severe cases if all the other medical and nutritional treatment options are exhausted. With growing number of people realizing the benefits of growth hormone therapy receiving growth hormone treatment, the market will experience enormous growth in the forthcoming years.
The solvent segment accounted for more than USD 448 million revenue in 2020 as increasing usage of solvent form of growth hormone. Furthermore, major players are focusing on development of growth hormone in solvent form that secures the market expansion. For instance, two major companies such as Novo Nordisk, and Ipsen Pharma manufacture and supply growth hormone drugs Norditropin and Nutropin respectively in the solvent form.
Browse detailed statistical insights from the report, “North America Growth Hormone Market Forecast 2027 By Application (Growth Hormone Deficiency, Idiopathic Short Stature, Turner Syndrome, Small for Gestational Age, Prader-Willi Syndrome), By Product (Powder, Solvent), By Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Online Medstores), Research Report, Country Outlook (U.S., Canada), 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 held over USD 678 million revenue in 2020 due to rising awareness about treatment and early diagnosis of GH deficiency in humans. Moreover, the introduction of novel drugs in the hGH market coupled with rising number of pipeline drugs will accelerate the industry growth. For instance, in January 2018, Ferring Pharmaceuticals Inc. announced that US FDA approved Zomacton (somatropin), a recombinant growth hormone used for the treatment of GH deficiency in adults. For instance, according to Oregon Health & Science University, every year one in 4,000 to 6,000 children are affected with GHD, and it affects nearly 50,000 adults in the U.S.
The retail pharmacy segment dominated around 33% market share in 2020 attributed to increasing number of retail pharmacies in North America. Retail pharmacies include both independent pharmacy stores and pharmacy chains that sell both OTC and prescription medications. The growing preference towards retail pharmacies due to easy accessibility and lucrative discounts offered by them has proved beneficial for the market growth. Additionally, increasing direct collaborations with distributors and drug manufacturers, will further drive the industry size.
The Canada growth hormone industry is anticipated to experience around 7.7% CAGR during the analysis period. Presence of well-established healthcare facilities have improved the diagnosis of GH deficiency disorders. Rising demand for growth hormone treatment in the region will prove beneficial for the market revenue. Moreover, increasing awareness about the importance of growth hormone therapy for treatment of various diseases along with growing healthcare expenditure will foster the country-level growth. Additionally, major players adopting business expansion strategies will enhance the market size.
The North American 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:
North America Market, By Product
North America Market, By Application
- Growth hormone deficiency
- Idiopathic short stature
- Turner syndrome
- Small for gestational age
- Prader-Willi syndrome
North America Market, By Distribution Channel
- Hospital pharmacy
- Retail pharmacy
- Online medstores
The above information has been provided for the following countries: