LONDON--(BUSINESS WIRE)--The global human growth hormone market is expected to post a CAGR of close to 4% during the period 2018-2022, according to the latest market research report by Technavio.
A key factor driving the growth of the global human growth hormone market is the FDA approval of human growth hormone replacement therapy for new indications. Nearly 80% of children with Noonan syndrome have short statures. At present, somatropin injection is the only growth hormone therapy approved for treating short stature in children with Noonan syndrome. Therefore, receiving the FDA approval for human growth hormone for new indications is expected to increase the awareness of the diagnosis. Also, many medical practitioners are expected to use growth hormone therapy in patients with Noonan syndrome.
This market research report on the global human growth hormone market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period.
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Global human growth hormone market: Increasing incidence of growth disorders
The increasing incidence of growth hormone disorders owing to the deficiency of growth hormone is likely to boost the global human growth hormone market during the forecast period. Moreover, various indications fall under the growth hormone disorders such as Laron syndrome, short stature, Turner syndrome, growth hormone deficiency, acromegaly, septo-optic dysplasia, gigantism, ISS, and Noonan syndrome.
Moreover, there is no impact of biosimilar entry in the human growth hormone market due to various factors such as safety and efficacy as well the quality of regulatory decision-making.
“Along with FDA approval of human growth hormone replacement therapy for new indications, the development of long-acting and needle-free deliveries to improve adherence and a strong pipeline of human growth hormone are expected to positively impact the growth of the global human growth hormone market during the forecast period,” says a senior analyst at Technavio
Global human growth hormone market: Segmentation analysis
This market research report segments the global human growth hormone market by application (growth hormone deficiency, ISS, Turner syndrome, and PWS) and geographical regions (APAC, EMEA, and the Americas).
The Americas region led the market in 2017 with a market share of over 57%, followed by EMEA and APAC respectively. The Americas region will continue to dominate the market with the highest incremental growth during the forecast period.
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Five Forces Analysis
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