Global Human Growth Hormone Market to reach $9.21 billion by 2030: Allied Market Research

Portland, OR, Oct. 11, 2021 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global Human Growth Hormone Market generated $3.86 billion in 2020, and is projected to reach $9.21 billion by 2030, witnessing a CAGR of 9.0% from 2021 to 2030. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.

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Rise in prevalence of menopausal disorder, surge in awareness about post-menopausal issues among women, and increase in new launches by key players drive the growth of the global human growth hormone market. However, high cost of treatment and adverse effects of hormone replacement therapy restrain the market to some extent. On the other hand, alternatives of hormone replacement therapy and telemedicine for hormone replacement therapy present new opportunities in the upcoming years.

COVID-19 scenario:

• The outbreak of the COVID-19 pandemic has negatively impacted the hormone replacement therapy market.
• Fertility treatment and post menopause has been affected during the pandemic due to evidence suggesting that falling estrogen levels could leave older women at increased risk from the disease and possibility that hormone withdrawal may accelerate COVID-19 progression

The report offers detailed segmentation of the global human growth hormone market based on application, distribution channel, route of administration, and region.

Based on application, the turner syndrome segment held the highest market share in 2020 holding nearly one third of the total market share, and is expected to continue its leadership status during the forecast period. However, the growth hormone deficiency segment is estimated to register the highest CAGR of 10.1% from 2021 to 2030.

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Based on distribution channel, the hospital pharmacy segment held the largest market share in 2020,  holding more than half of the total market share, and is expected to continue its leadership status during the forecast period. However, the online pharmacy segment is projected to register the highest CAGR of 10.2% from 2021 to 2030.

Based on region, North America contributed to the highest share in terms of revenue in 2020, holding nearly half of the total market share, and is estimated to continue its dominant share by 2030. However, Asia-Pacific is projected to manifest the fastest CAGR of 10.2% during the forecast period.

Leading players of the global human growth hormone market analyzed in the research include Abbott Laboratories, Bayer AG, Eli Lilly and Company, F. Hoffmann-La Roche Ltd. (Genentech, Inc.), Hisamitsu Pharmaceutical Co., Inc. (Noven Pharmaceuticals, Inc.), Merck KGaA, Mylan N.V. (Viatris Inc.), Novartis International AG, Novo Nordisk A/S, and Pfizer Inc.

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“We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.”

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.