Portland, OR, Aug. 11, 2020 (GLOBE NEWSWIRE) — As per the report published by Allied Market Research, the Human Growth Hormone Market was projected at $2.84 billion in 2018 and is anticipated to reach $5.56 billion by 2026, growing at a CAGR of 8.6% from 2019 to 2026. The report provides comprehensive analyses of the top investment pockets, key drivers & opportunities, major market segments, and competitive landscape.
Increase in usage of growth hormone to control aging and surge in disorders related to growth hormone deficiency propel the growth of the global human growth hormone (hGH) market. On the other hand, several side effects related with the treatment impede the growth to some extent. However, rise in awareness toward usage of human growth hormone in developing economies is expected to offer multiple opportunities to the industry.
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- Due to the global pandemic all over the world, the medical devices manufacturers are majorly focusing on essential medical devices production including ventilators and diagnostics.
- However, due to the precautionary measures taken by governments in various regions, the supply chain has been hampered. Which may result in shortage of devices in certain locations.
- Food and Drugs Administration (FDA), on the other hand, shared a COVID-19 guidance with medical device manufacturers to notify the agency about changes that could affect availability of their products.
Based on application, the turner syndrome segment held the major share in 2018, contributing nearly one-third of the global human growth hormone (hGH) market. The segment is expected to dominate the market throughout the forecast period. On the other hand, the growth hormone deficiency segment would cite the fastest CAGR of 9.9% in between 2019 to 2026.
Based on route of administration, the subcutaneous segment accounted for nearly two-thirds of the global human growth hormone market (hGH) share in 2018, and is expected to dominate during the study period. In addition, the same segment is expected to portray the fastest CAGR of 9.1% by 2026.
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Based on geography, North America contributed to nearly half of the global human growth hormone market (hGH) revenue in 2018, and is projected to rule the roost throughout the estimated period. At the same time, the Asia-Pacific region is estimated to grow at the fastest CAGR of 10.2% during the forecast period.
Key market players analyzed in the research include Novo Nordisk, Merck & Co., Inc., Eli Lilly and Company, Pfizer Inc., Teva Pharmaceutical Industries Ltd, Novartis AG, AnkeBio Co. Ltd, F. Hoffmann-La Roche, Ipsen, and Ferring BV.
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