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Human Growth Hormone Market to increase to 6.2% CAGR from 2017-2026

Added: (Fri Jan 25 2019)

Pressbox (Press Release) - Human growth hormone is responsible for growth and regeneration among humans and also stimulates cell reproduction. However, deficiency of growth hormone is constantly on the rise. Advancements in technology including development of recombinant human growth hormone by the major players is boosting the market growth. Also, the leading companies are focusing on increasing their production capacity in order to increase supply in the rural areas.

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As per the latest report by Transparency Market Research (TMR), the global market for human growth hormone is likely to see strong growth in the coming years. The market is estimated to increase to 6.2% CAGR. The global market for human growth hormone is also estimated to generate US$ 5,261.5 million revenue by 2026 end.

Among various route of administration, subcutaneous as the route of administration is likely to witness substantial growth between 2017 and 2026. Subcutaneous as the route of administration is estimated to surpass US$ 1,600 million revenue by 2026 end. The preference for the subcutaneous method is increasing as it leads to the significant rise in growth rates and low incidence of antibody development. Moreover, subcutaneous route is highly preferred for chronic growth hormone therapy.

Compared to the various distribution channels, hospital pharmacy is likely to emerge as one of the largest distribution channels. By the end of the forecast period, hospital pharmacy is projected to bring in close to US$ 2,200 million revenue. Owing to the high cost of human growth hormone drugs, a lot of hospital pharmacies are distributing drugs. Also, high investment for development of advanced healthcare centers and hospitals by governments in various countries is also driving the distribution of growth hormone drugs through hospital pharmacy.

North America is likely to emerge as the largest region between 2017 and 2026. Presence of the major market players and commercialization of growth hormone by the U.S. Food and Drugs Administration (FDA) are driving the market growth. Meanwhile, Asia Pacific Excluding Japan (APEJ) is also expected to witness the fastest growth in the coming years. India, China, and Australia are contributing towards the growth in the region. Moreover, increasing number of people suffering from growth hormone deficiency also presents an opportunity for the leading companies in APEJ region.

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Merck KGaA, Pfizer Inc., Eli Lilly and Company, Novartis AG, Novo Nordisk A/S, Anhui Anke Biotechnology (Group) Co., Ltd, Biopartners GmbH, Ipsen S.A, GeneScience Pharmaceuticals Co., Ltd., and Roche Holdings, Inc., are some of the major companies operating in the global market for human growth hormone.

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Submitted by:Amanpreet
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