As per the report titled ‘North America Growth Hormone Market Forecast 2027 By Application, By Product, By Distribution Channel, Research Report, Country Outlook, COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share’, available with MarketStudyReport, North America growth hormone market is estimated to reach a valuation of USD 2.2 billion by the year 2027.
 

Rising prevalence of chronic disorders like growth retardation, Prader-Willi syndrome, and Turner syndrome along with increasing R&D activities towards early diagnosis and treatment are favoring the expansion of growth hormone market in North America.

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Further, rising awareness about synthetic growth hormone therapy is positively impacting the industry outlook. On the contrary, high cost of this treatment form along with the linked side effects may hinder progress during the assessment period

Based on product type, the market is split into powder and solvent. Of these, the former held a market share worth USD 986 million in 2020 and is likely to record strong gains in the forthcoming years. Growth hormone is most commonly available as lyophilized powered. It is formulated and utilized in varying concentration of suspension and assists in developing various doses for growth hormone injections

Moving to the application spectrum of North America growth hormone market, growth hormone deficiency, idiopathic short stature, small for gestational age, Turner syndrome, and Prader-Willi syndrome are the major segments highlighted in the research piece.

The Turner syndrome segment is projected to record 7.4% CAGR through 2027, attributable to increasing prevalence of the condition and rising awareness among the younger population.

With respect to distribution channel, the market is divided into retail pharmacy, hospital pharmacy, and online med stores. Among these, the hospital pharmacies segment accounted for USD 781 million in 2020. The increasing preference of patients towards hospital pharmacies can be ascribed to factors like greater convenience in accessing medicine during emergencies and availability of a wide range of expensive drugs. Besides, government investments towards healthcare development is adding to the segmental value.

From a geographical perspective, Canada market is anticipated to garner 7.7% CAGR over 2021-2027, mainly creditable to widespread availability of state-of-the-art healthcare facilities in the country.

Major players influencing North America growth hormone industry trends are Genetech Inc., Ferring B.V., LG Chem Ltd., Ipsen S.A., Merck KGaA, Eli Lily and Company, Novartis AG, Pfizer Inc., and Novo Nordisk A/S.