The global biosimilar growth hormones market size is expected to grow from $0.59 billion in 2021 to $0.64 billion in 2022 at a compound annual growth rate (CAGR) of 8.4%. The growth in the market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The biosimilar growth hormone market is expected to reach $0.89 billion in 2026 at a CAGR of 8.4%.
What is the Global Biosimilar Growth Hormones Market?
The biosimilar growth hormone market consists of sales of Somatropin or human growth hormone (HGH) and related services by entities (organizations, sole traders and partnerships) that manufacture growth hormones. Biosimilar growth hormones are used to stimulate growth, cell reproduction and cell regeneration in humans and other animals.
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What drives the Global Biosimilar Growth Hormones Market?
The growing number of children suffering from growth hormone deficiency is driving the growth of the global biosimilar growth hormone market. Growth hormone deficiency is caused by damage to the pituitary gland or hypothalamus, which may be the result of an abnormal formation that occurred before the child was born (congenital) or something that occurred during or after birth (acquired). Growth hormone deficiency has been identified in about 1 in every 3,800 babies. Additionally, some children acquire it later in their life as a result of a brain tumor, brain operation, radiation therapy, injury or infection. Thus, an increase in the number of children suffering from growth deficiency drives the growth of the market.
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Global Biosimilar Growth Hormones Market Segments
The global biosimilar growth hormones market is segmented:
By Route of Administration: Intravenous, Subcutaneous, Intramuscular, Oral
By Application: Growth Hormone Deficiency, Turner Syndrome, Idiopathic Short Stature, Prader Willi Syndrome, Others
By Distribution Channel: Hospital and Retail Pharmacy, Online Pharmacy/ePharmacy, Specialty Clinics
By Geography: The regions covered in the biosimilar growth hormones market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Biosimilar Growth Hormones Global Market Report 2022provides market size and growth forecasts for the global biosimilar growth hormones market, global biosimilar growth hormones market share, biosimilar growth hormones market segments and geographies, biosimilar growth hormones market competitive landscape including leading competitors’ revenues, profiles and market shares. The biosimilar growth hormones market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Biosimilar Growth Hormones Industry Playersinclude Biopartners And LG Chem, Amega Biotech, Eli Lilly and Company, Genetech Inc., Novartis AG, Zhongshan Hygene Biopharm Co. Ltd., Merck, Sanofi S.A., Biosidus and Ferring Pharmaceuticals. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
