Global Growth Hormone Deficiency Market is expected to have a market value of USD 5,243.3 Million by 2027.
Growth Hormone Deficiency (GHD) is a rare type of disorder where the pituitary gland produces an insufficient secretion of growth hormone in the body. GHD can be congenital or developed in a later stage.
Global Growth Hormone Deficiency Market is classified into a brand such as Norditropin, Genotropin, Humatrope, Saizen, Omnitrope, and others. In addition, the global growth hormone deficiency market, by application, is segmented into pediatric growth hormone deficiency, Turner syndrome, Idiopathic Short Stature (ISS), small for gestational age, adult growth hormone deficiency, Prader-Willi syndrome, and others. By route of administration, the market is segmented into subcutaneous, intravenous, and intramuscular. The global growth hormone market is segmented by the distribution channel into hospital pharmacies, retail pharmacies, online pharmacies, and specialty pharmacies
Global Growth Hormone Deficiency Market, based on region, has been divided into the Americas, Europe, Asia-Pacific, and Rest of the World.
The Americas is classified into North America. North America is further categorized into the US Canada and Latin America. The growth hormone deficiency market in the US is expected to hold a major share owing to the growing prevalence of growth hormone deficiency and Turner syndrome, affordability of costly hormonal therapy, and the presence of a well-established healthcare sector.
Asia-Pacific is anticipated to be the fastest-growing market owing to the growing healthcare expenditure and the presence of a large patient pool. Growing investments in the region due to increasing demand are expected to contribute to the market growth. For instance, in March 2017, Novo Nordisk initiated a phase 3 clinical trial of somapacitan (NNC0195-0092) for Adult Growth Hormone Deficiency (AGHD) in Japan. Additionally, the rising awareness about the efficiency of growth hormone therapy in short stature is likely to increase the demand for growth hormone products in this region.
The Middle East and Africa region includes the Middle East Africa. Increasing healthcare expenditure, rising investments by major market players, and growing patient pool in this region are attributing to the market growth. For instance, according to the International Trade Administration, health expenditure in the UAE was USD 17 billion in 2017 and is likely to reach USD 21.3 billion by 2021.
Key Findings of the Study
- Global Growth Hormone Deficiency Market is estimated to reach USD 5,243.3 Million by 2027 at a CAGR of 4.2% during the assessment period of 2020 to 2027.
- The US accounted for the largest share of the global growth hormone deficiency market due to high uptake rate, the presence of prominent players in the US, and product clearances from regulatory authorities.
- Based on brand, the norditropin segment accounted for the largest market share of 32.33% in 2019.
- On the basis of Application, the pediatric growth hormone deficiency, turner syndrome segment is expected to be the fastest-growing segment during the forecast period at a CAGR of 4.47%.
- Based on Route of Administration, the subcutaneous segment dominated the market with a share of 43.8% in the year 2019.
- Based on Distribution Channel, hospital pharmacies held the largest market share of 40.8% and the e-commerce website segment was the fastest-growing segment with a CAGR of 4.51%