According to the research 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 likely to surpass a valuation of USD 2.2 billion value in 2027.

Increasing demand for early diagnosis solutions, growing awareness regarding growth hormone therapy, and focus among various organizations improving their research quality to discover new drugs are the key factors driving the expansion of North America growth hormone market.

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Apart from this, the rising prevalence of growth hormone diseases has prompted the government to launch several initiatives and programs. This coupled with rapid technological breakthroughs like IoT and AI is further aiding the healthcare sector in offering treatments and prescribing medications as per patients’ medical requirement, thereby stimulating the overall industry outlook.

Based on product landscape, the report cites that the powder segment held a market share worth USD 986 million in 2020 and is expected to expand exponentially through 2027, on account of its extensive usage in varying concentrations of suspension and rising development of different doses for growth hormone injections. For those unaware, this powder is the most common form of growth hormone as well as it is also available as a lyophilized powder.

Based on the application spectrum, the turner syndrome is estimated to record a 7.4% CAGR through 2027, ascribed to rapidly growing awareness among the younger generation which will, in turn, boost the sale of growth hormone medicines.

Moving on to the distribution channel, the hospital pharmacies segment accounted for a market share worth USD 781 million in 2020, primarily attributed to the surging government investments in developing advanced healthcare infrastructure and the increasing number of patients opting for hospital pharmacies due to convenience and availability of a wide range of expensive drugs.

Regionally, Canada growth hormone market size is estimated to record a 7.7% CAGR through 2021-2027, owing to the robust availability of the best-in-class healthcare facilities which in turn improves the quality of diagnosis.

Some of the prominent companies operating in North America growth hormone market are Pfizer Inc., Novo Nordisk A/S, Ferring B.V., Ipsen S.A., Eli Lily and Company, and Novartis International AG, among others.