Somatotropin, or human growth hormone, is a peptide hormone made by the pituitary gland that controls cell growth, reproduction, metabolism, and regeneration. These processes are all necessary for general human growth. Human growth hormones play a role in bone and muscle growth, sugar and fat metabolism, body fluid balance, and injury recovery. It also enhances the performance and strength of the muscles.
A robust product pipeline and sizable R&D investments for developing novel growth hormone therapies are predicted to contribute to market growth over the forecast period significantly. For instance, in October 2021, Pfizer, Inc. and OPKO Health, Inc. updated their Biologics License Application to the U.S. FDA for the investigational drug somatropin to treat growth hormone deficiency. Similar to this, several significant firms, such as Teva Pharmaceutical Industries, Ltd., OPKO Health, Inc., Eli Lilly and Company, Ferring Pharmaceuticals, Sanofi S.A., and L.G. Life Sciences, are involved in R&D activities in developing novel HGH treatments. Major market players' investments to improve the quality of life for patients with hormone imbalances will drive market expansion over the forecast period.
The National Organization for Rare Disorders, the Child Growth Foundation, the Pituitary Foundation, the MAGIC Foundation, and the Turner Syndrome Foundation are just a few of the organizations working hard to raise awareness of growth hormone deficiency around the globe daily. For instance, the Child Growth Foundation, a non-governmental organization with its main office in the United Kingdom, provides support to people with rare growth hormone disorders. In an effort to raise the quality of life for patients, this organization provides information and support to patients, caregivers, and medical professionals. These organizations raise public awareness of these conditions and fund studies to advance medical knowledge.
North America is the most significant global human growth hormone market shareholder and is expected to grow at a CAGR of 12.50% over the forecast period. Due to excellent reimbursement conditions, a developed healthcare infrastructure, major government initiatives, and rising healthcare awareness, North America is anticipated to have the most significant share of the market. Major companies' presence in the region also makes it easier for patients to get cutting-edge drugs, which is advantageous for the North American market. A range of human G.H. medications is available in the region from several large corporations with U.S. headquarters, including Pfizer, Inc., Eli Lilly and Company, and Genentech, Inc.
Asia-Pacific is anticipated to grow at a CAGR of 10.3% over the forecast period. Major companies aim to capture a significant market share in potential Asia-Pacific countries like China and Japan by acquiring authorization and releasing innovative products. For instance, the somapacitan phase III clinical trial for the treatment of adult growth hormone deficiency by the pharmaceutical company Novo Nordisk A/HGH S began in Japan in March 2017.
The global human growth hormone market's major companies are Novo Nordisk A/S, Pfizer, Inc, Eli Lilly and Company, Sandoz International GmbH (Novartis AG), Merck KGaA, Genentech, Inc (Roche), Ferring Pharmaceuticals, Teva Pharmaceutical Industries Ltd, and Ipsen.