According to the research report titled ‘Europe Growth Hormone Market Forecast 2027 By Distribution Channel, By Product, By Application, Research Report, Country Outlook, COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share’, available with MarketStudyReport, Europe growth hormone market is estimated to be worth USD 1.6 billion by the end of the forecast period 2021-2027.
 

Increasing prevalence of growth disorders, awareness about synthetic growth hormone therapy, and surging R&D activities aimed at discovering new & effective drugs are primarily driving Europe growth hormone market expansion.

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Despite the positive outlook, side effects associated with using synthetic growth hormones, and high costs of treatment are likely to hamper industry growth over the upcoming years.

Based on product type, the market is split into powder, and solvent. The growth hormone solvents segments is expected to surge at 8% CAGR through 2027, with companies introducing solvent products to gain competitive edge.

By application scope, Europe growth hormone industry classification comprises idiopathic short stature, growth hormone deficiency, Turner syndrome, small for gestational age, Prader-Willi syndrome, and others. Among these, the market size from small for gestational age disorder is slated to grow at 6.9% CAGR over 2021-2027. As per data provided by Tommy's Organization, nearly 60,000 babies born in the U.K. are premature at birth every year. This striking figure is likely to boost research & development of effective medicines to treat this disorder, thereby propelling segmental growth.

Considering distribution channel, the market is split into retail pharmacy, online medstores, and hospital pharmacy. Online medstores accounted for 11.5% share of the market in 2020, as they offer more convenience to consumers looking for critical medicines. Moreover, increasing awareness about online pharmacies, and availability of high-speed internet are also boosting the outlook of this sector.

On the regional front, France captured 20% of Europe growth hormone market in 2020. Increasing prevalence of growth hormone deficiency in the country’s population, and rising partnerships & collaborations among leading players for development of robust medicines and treatment methods are propelling regional market growth.

Prominent players in the industry include Genentech Inc., Ferring B.V., LG Chem Ltd., Ipsen S.A., Merck KGaA, Eli Lilly and Co., Novartis AG, Pfizer Inc., and Novo Nordisk A/S.