Allied Market Research has recently published a report namely, “Human Growth Hormone (HGH) Market by Application (Growth Hormone Deficiency, Prader-Willi Syndrome, Turner Syndrome, Small for Gestational Age, and Others), Route of Administration (Intravenous, Intramuscular, Subcutaneous, and Oral), and Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Clinics, and Online Pharmacy): Global Opportunity Analysis and Industry Forecast, 2019–2026.”
This report estimates the global human growth hormone industry to cross $5,56 billion by end of 20206. In 2018, it was estimated to be a net worth of $2.84 billion. It is predicted to grow at a CAGR of 8.6% from last year to 2026.
Allied Market Research or AMR is a market research business and consultant that is located in Portland, Oregon. It provides big international enterprises and local small business ventures with the most accurate “Market Research Reports” and “Business Intelligence Solutions.”
These reports help to find new business ideas and insights which help these companies to make the right business decisions and maintain sustainable growth in an area of their expertise.
The company shares how they are professionally connected with various corporate companies. This way it gets easier for them to dig market data and generate figures that prove to be most accurate. All this data which is a part of reports published by Allied Market Research is collected through interviews. Like most people know, an interview is a direct mode of data collection and this date is extracted from the top officials of leading companies. The secondary data in this survey was taken from online and online research and communication with expert professionals from the respective domain.
This sudden increase in the use of growth hormones is not surprising. The reason is that the incidence of growth-related hormones has been increased drastically which led to this boom in demand for human growth hormone (HGH).
In addition to that, there are multiple side effects associated with this treatment that impact growth. However, it is a matter of public awareness that using human growth hormone in lower economies may not be a viable solution to all these problems.
Typically, adults with growth hormone deficiency experience several health problems, for which the doctors recommend using synthetic HGH. The reason behind this hormonal deficiency is mainly a benign tumor formation on pituitary gland or it may also be caused during the surgical removal of adenoma and/or radiotherapy.
Using HGH supplement or injection can improve stamina, bone density, muscle mass and reduce body fat. It is also a prescribed treatment for HIV/AIDS in adult patients for treating the irregular fat deposition in the whole body. Till the date, there is limited information on how HGH supplements affect healthy individuals.
Although it looks like that intake of this growth hormone improves exercise capacity, body mass and reduces fat but it doesn’t mean that a person would be stronger and more powerful. The benefits of using HGH supplements by healthy people are not clear yet and maybe more extensive research can answer it.
Coming back to these survey results, a major part of this increased worth in 2018 was generated from North America. It is probably the biggest market for the global human growth hormone market and it continues to be the same for the coming years. The bigger target market, ease in availability and healthcare systems are main factors that may explain this high demand for HGH in North America.