Growth Hormone Market in North America to grow substantially at 7% CAGR till 2027

North America growth hormone market size is expected to surpass $2.2 billion in valuation by 2027. The number of people being diagnosed with growth hormone disorders is increasing every year. To mitigate the rising cases, the healthcare sector is intensifying its research and development activities to facilitate early diagnosis and treatment.

Chronic medical conditions, such as growth retardation, Prader-Willi syndrome, and Turner syndrome are on the rise across North America. This has fostered the need for synthetic and recombinant growth hormone injections. Recombinant growth hormones are readily available in the U.S. and are effective in the treatment of Prader-Willi syndrome, Growth Hormone Deficiency (GHD), intrauterine growth retardation, and Turner syndrome.

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Growth hormone powders held a share worth $986 million of North America market in 2020. It is the most commonly found form of growth hormone and is available as a lyophilized powder. It is formulated and used in varying concentrations of suspension and helps in developing different doses for growth hormone injections.

Patients diagnosed with Turner syndrome, idiopathic short stature, and GHD, among others have the suspension injected subcutaneously. Pfizer is one of the leaders supplying the powdered form of genotropin growth hormone.

Growth hormone market in North America size from Turner syndrome application will observe a steady 7.4% CAGR up to 2027. According to the National Organization for Rare Disorders, nearly 70,000 girls and women are likely to be diagnosed with Turner syndrome in the U.S. The disorder may also affect around one in 2,000-2,500 live female births. Moreover, the awareness of this disease is growing among the younger population, which will boost the sale of growth hormone medicines.

Hospital pharmacies held a share worth $781 million of North America growth hormone market in 2020. Patients are increasingly opting for hospital pharmacies as they offer great convenience in getting the required medicines in emergency situations. These pharmacies contain a wide range of expensive drugs. Governments across the region are increasing their investments in developing an advanced healthcare infrastructure, thereby increasing the sale of growth hormone drugs in hospital pharmacies.

Canada growth hormone market size will record 7.7% CAGR over 2021-2027 as there is a robust availability of the best-in-class healthcare facilities. This has, in turn, improved the quality of diagnosis of growth hormone disorders.

The demand for treating these illnesses at an early stage is growing at a significant rate and the awareness of the importance of using growth hormone therapy has increased to a great extent. Organizations are improving their quality of research to discover new drugs, thereby augmenting the production of growth hormone medicines in the country.

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The rising prevalence of growth hormone diseases has prompted governments across North America to launch several initiatives and programs so that more and more people are aware of the importance of getting regular medical check-ups done. The introduction of advanced technologies, such as AI and IoT has transformed the healthcare sector as doctors and their medical staff can now formulate treatments and prescribe medication according to the patient’s medical needs. These technologies have made early diagnosis of these ailments possible, which can positively impact a patient’s survival rate.

Companies, such as Pfizer Inc., Novo Nordisk A/S, Ferring B.V., Ipsen S.A., Eli Lily and Company, and Novartis AG, among many others are amplifying their drug discovery efforts to find effective growth hormone medicines for disorders, such as GHD, Turner syndrome, Prader-Willi syndrome, and idiopathic short stature. The main distribution channels of these medicines include, retail & hospital pharmacies, and online med stores.

Table of Contents (ToC) of the report:

Chapter 1   Methodology

1.1    Definition and forecast parameters

1.1.1    Definitions

1.1.2    Methodology and forecast parameters

1.2    Data sources

1.3    References & sources

1.3.1    Secondary

1.3.2    Primary

Chapter 2   Executive Summary

2.1    North America growth hormone market summary, 2016 – 2027

2.1.1    Business trends

2.1.2    Product trends

2.1.3    Application trends

2.1.4    Distribution channel trends

2.1.5    Country trends

Chapter 3   Growth Hormone Market Insights

3.1    Industry segmentation

3.2    Industry outlook, 2016 – 2027

3.3    Major factor analysis

3.3.1    Growth drivers

3.3.1.1    Rising incidence of growth disorders

3.3.1.2    Growing R&D activities in growth hormone market

3.3.1.3    Rising awareness about the synthetic growth hormone therapy

3.3.2    Restraints & challenges

3.3.2.1    High cost of synthetic growth hormone treatment

3.3.2.2    Side effects associated with use of synthetic growth hormones

3.4    COVID-19 impact analysis

3.5    Porter’s analysis

3.6    PEST analysis

3.7    Competitive review, 2020

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