Growth Hormone Market - By Product (Powder, Solvent), Application (Growth Hormone Deficiency, Idiopathic Short Stature, Turner Syndrome, Small for Gestational Age, Prader-Willi Syndrome), Distribution Channel (Hospital, Retail), & Global Forecast, 2023 -

Growth Hormone Market - By Product (Powder, Solvent), Application (Growth Hormone Deficiency, Idiopathic Short Stature, Turner Syndrome, Small for Gestational Age, Prader-Willi Syndrome), Distribution Channel (Hospital, Retail), & Global Forecast, 2023 - 2032

Global Growth Hormone Market size will expand significantly through 2032. Growing applications of growth hormone therapy in pediatric patients are contributing to industry growth. The global burden of growth hormone disorders in this demographic has increased the need for growth hormone therapies. Moreover, the advancements in diagnostic capabilities and rising awareness among healthcare professionals have led to earlier detection of growth-related disorders in pediatric patients, enabling timely intervention with growth hormone therapy.

Furthermore, industry players operating in the field are emphasizing mergers and acquisition strategies to retain their industry standing. In June 2023, Eli Lily And Company, an American pharmaceutical company, announced its intent to acquire Sigilon, a biopharmaceutical company that develops functional cures for patients with acute and chronic disorders.

The overall growth hormone market is classified based on product, application, distribution channel, and region.

Based on the product, the growth hormone industry from the solvent segment will record notable growth from 2023 to 2032. The ease of administration and compatibility of growth hormone solvents with different formulation favors its adoption. The use of growth hormone solvents can contribute to improved patient compliance with treatment regimens. By simplifying the reconstitution process and minimizing discomfort during the injection, patients may find it easier and more convenient to adhere to their prescribed growth hormone therapy.

Based on the application, industry share from the Turner syndrome segment will grow at a 6.5% CAGR from 2023 to 2032 due to the remarkable efficacy of growth hormones in addressing the growth and development challenges faced by individuals with Turner syndrome. Growth hormone therapy depicts notable benefits in improving height, bone density, body composition, and overall quality of life. As more awareness is raised about Turner syndrome and its impact, the need for effective interventions like growth hormones continues to increase, providing hope and opportunities for individuals to achieve optimal growth and reach their full potential.

Based on the distribution channel, industry value from the retail pharmacy segment will register significant gains through 2032. The easy availability of a wide range of medications has increased patient preference for retail pharmacies. Moreover, these facilities offer diagnostic solutions, special feeding solutions, and medications directly to patients. They often offer educational resources and materials to promote patient health and well-being. They may provide information on various health conditions, preventive care, and lifestyle modifications.

From the regional perspective, Europe growth hormone market size will reach over USD 1.7 billion by 2032. The surging prevalence of growth hormone deficiency disorders has increased the demand for growth hormone therapies in Europe. The regional growth can also be attributed to rising digitalization coupled with a robust presence of industry players such as Novartis AG, Ferring B.V., and others, focusing on product innovations.