The Increasing Number Of Children With Growth Hormone Deficiency Will Drive The Biosimilar Growth Hormones Market

The Increasing Number Of Children With Growth Hormone Deficiency Will Drive The Biosimilar Growth Hormones Market

“Global Biosimilar Growth Hormones Market, Forecast Market Size, 2019 – 2023, $ Billion”
The Business Research Company’s Global Biosimilar Growth Hormones Market Report 2020-30: Covid 19 Growth And Change; Segments Covered: 1) By Route Of Administration: Intravenous, Subcutaneous, Intramuscular, Oral 2) By Application: Growth Hormone Deficiency, Turner Syndrome, Idiopathic Short Stature, Prader Willi Syndrome, Others 3) By Distribution Channel: Hospital And Retail Pharmacy, Online Pharmacy/ePharmacy, Speciality Clinics

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.

The global biosimilar growth hormones market is expected to decline from $0.55 billion in 2019 to $0.53 billion in 2020 at a compound annual growth rate (CAGR) of -2.92%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities resulting in operational challenges. The entire supply chain has been disrupted, impacting the market negatively. The global biosimilar growth hormones market is then expected to recover and reach $0.69 billion in 2023 at a CAGR of 9.07%.

Recombinant DNA technology (rDNA technology) is increasingly being implemented in the global biosimilar growth hormone industry. The development of biosimilar growth hormone by using recombinant DNA technology (rDNA technology) is an emerging trend. For instance, in 2018, Genevatropin was produced utilizing Recombinant DNA Secretion Technology. Genevatropin® (Genevatropin [rDNA origin] injectable delivery) is a pharmaceutical solution that supplements the natural human growth hormone for people who may be deficient in this hormone.

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.

The growing awareness about the side effects caused by the continuous usage of biosimilar growth hormones is expected to restrict the growth of the market. Possible side effects of HGH use include nerve, muscle, or joint pain, swelling due to fluid in the body’s tissues (edema), carpal tunnel syndrome, numbness and tingling of the skin, and high cholesterol levels. Continuous dosage of HGH can also increase the risk of diabetes and contribute to the growth of cancerous tumors, thus restraining the growth of the market.

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