Pediatric Growth Hormone Deficiency Market Will Grow at Highest Pace owing to Increasing Health Issues among Children
The pediatric growth hormone deficiency treatment market involves the use of recombinant human growth hormone (rhGH) drugs to stimulate growth in children with growth hormone deficiency. rhGH drugs mimic the body's natural growth hormone by stimulating cell reproduction and growth. They are administered through daily subcutaneous injections and have minimal side effects.
The global Pediatric Growth Hormone Deficiency Market is driven by the rising cases of genetic mutations, birth defects, tumors, and injuries causing underdeveloped pituitary glands and insufficient growth hormone secretion in children.
The Global pediatric growth hormone deficiency market is estimated to be valued at US$ 4.5 billion in 2024 and is expected to exhibit a CAGR of 5% over the forecast period 2024-2030.
Key Takeaways
Key players operating in the pediatric growth hormone deficiency market include Pfizer Inc., Novo Nordisk A/S, Eli Lilly and Company, Merck KGaA and Novartis AG.
Increasing health issues among children related to genetic mutations or birth defects is fuelling the demand for rhGH drugs globally. According to estimates, around 1 in 4000 children are affected by growth hormone deficiency worldwide. Recent advancements in drug delivery mechanisms like convenient multi-dose pens and wearable pumps vs daily injections are expected to boost medication adherence and market growth.
Market Trends
Precision medicine: Key players are increasingly focusing on tailored treatment approaches for individual patients based on disease severity, genotype and phenotype to maximize efficacy.
Biosimilars: With patent expiries of major rhGH brands, biosimilar approvals and market entry is steadily increasing competition and driving down drug prices. However, interchangeability and automatic substitution remain challenging.
Market Opportunities
Emerging markets: Rising medical infrastructure and awareness in developing Asian and Latin American countries presents lucrative opportunities for major players to tap an underpenetrated region.
Combination therapy: Combining rhGH therapy with other supportive care modalities like nutrition, physical therapy holds promise to optimize treatment outcomes in severe cases.
Impact of COVID-19 on Pediatric Growth Hormone Deficiency Market Growth
The COVID-19 pandemic has significantly impacted the growth of the pediatric growth hormone deficiency market. Various lockdowns and social distancing norms implemented worldwide negatively affected the market in the short run. During the early phases of the pandemic, outpatient visits and elective surgeries were postponed to focus on COVID patients. This led to delayed diagnosis and treatment of pediatric growth hormone deficiency.
However, with the implementation of stringent safety protocols, the service providers have now resumed their full-fledged operations. The development of more effective and advanced treatment options during the pandemic also supported the market revival. For instance, the availability of longer-acting formulations requiring less frequent dosing reduced patients' hospital visits. Teleconsultations and home healthcare further ensured continuity of care amid social restrictions. Going forward, increasing government aid and awareness programs are expected to boost market growth in the post-pandemic period.
Geographical Regions with Highest Pediatric Growth Hormone Deficiency Market Value
North America dominates the global pediatric growth hormone deficiency market with the highest revenue share. This can be attributed to the rising incidence of genetic disorders, advanced healthcare infrastructure, and government funding for rare diseases in the region. Furthermore, major market players based in the US and Canada accelerate therapeutic development and commercialization in North America. Europe holds the second position owing to the presence of supportive public healthcare systems and availability of reimbursement. On the other hand, Asia Pacific is anticipated to exhibit the fastest growth rate during the forecast period. The rising medical tourism industry, growing middle-class population, and increasing research activities drive the pediatric growth hormone deficiency market expansion in Asia Pacific.
Fastest Growing Region for Pediatric Growth Hormone Deficiency Market
Asia Pacific presents the most lucrative prospects for the pediatric growth hormone deficiency market players globally. The key factors fueling the market growth in this region include rising healthcare expenditure, increasing public awareness, and improving access to diagnosis and treatment across various Asian countries. For instance, China and India have a large patient population suffering from growth hormone deficiency due to genetics. Moreover, the presence of a massive underserved patient base in rural areas offers significant untapped opportunities. Leading international providers are actively entering into strategic partnerships with local players to strengthen their presence in Asia Pacific. Extensive research funding from private and public organizations also contributes to the faster adoption of innovative therapies. All these elements will consistently accelerate the Asia Pacific pediatric growth hormone deficiency market expansion during the coming years.
Get More Insights On- Pediatric Growth Hormone Deficiency Market
Author Bio:
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (
https://www.linkedin.com/in/money-singh-590844163)
Pediatric Growth Hormone Deficiency Market Will Grow at Highest Pace owing to Increasing Health Issues among Children
The pediatric growth hormone deficiency treatment market involves the use of recombinant human growth hormone (rhGH) drugs to stimulate growth in children with growth hormone deficiency. rhGH drugs mimic the body's natural growth hormone by stimulating cell reproduction and growth. They are administered through daily subcutaneous injections and have minimal side effects.
The global Pediatric Growth Hormone Deficiency Market is driven by the rising cases of genetic mutations, birth defects, tumors, and injuries causing underdeveloped pituitary glands and insufficient growth hormone secretion in children.
The Global pediatric growth hormone deficiency market is estimated to be valued at US$ 4.5 billion in 2024 and is expected to exhibit a CAGR of 5% over the forecast period 2024-2030.
Key Takeaways
Key players operating in the pediatric growth hormone deficiency market include Pfizer Inc., Novo Nordisk A/S, Eli Lilly and Company, Merck KGaA and Novartis AG.
Increasing health issues among children related to genetic mutations or birth defects is fuelling the demand for rhGH drugs globally. According to estimates, around 1 in 4000 children are affected by growth hormone deficiency worldwide. Recent advancements in drug delivery mechanisms like convenient multi-dose pens and wearable pumps vs daily injections are expected to boost medication adherence and market growth.
Market Trends
Precision medicine: Key players are increasingly focusing on tailored treatment approaches for individual patients based on disease severity, genotype and phenotype to maximize efficacy.
Biosimilars: With patent expiries of major rhGH brands, biosimilar approvals and market entry is steadily increasing competition and driving down drug prices. However, interchangeability and automatic substitution remain challenging.
Market Opportunities
Emerging markets: Rising medical infrastructure and awareness in developing Asian and Latin American countries presents lucrative opportunities for major players to tap an underpenetrated region.
Combination therapy: Combining rhGH therapy with other supportive care modalities like nutrition, physical therapy holds promise to optimize treatment outcomes in severe cases.
Impact of COVID-19 on Pediatric Growth Hormone Deficiency Market Growth
The COVID-19 pandemic has significantly impacted the growth of the pediatric growth hormone deficiency market. Various lockdowns and social distancing norms implemented worldwide negatively affected the market in the short run. During the early phases of the pandemic, outpatient visits and elective surgeries were postponed to focus on COVID patients. This led to delayed diagnosis and treatment of pediatric growth hormone deficiency.
However, with the implementation of stringent safety protocols, the service providers have now resumed their full-fledged operations. The development of more effective and advanced treatment options during the pandemic also supported the market revival. For instance, the availability of longer-acting formulations requiring less frequent dosing reduced patients' hospital visits. Teleconsultations and home healthcare further ensured continuity of care amid social restrictions. Going forward, increasing government aid and awareness programs are expected to boost market growth in the post-pandemic period.
Geographical Regions with Highest Pediatric Growth Hormone Deficiency Market Value
North America dominates the global pediatric growth hormone deficiency market with the highest revenue share. This can be attributed to the rising incidence of genetic disorders, advanced healthcare infrastructure, and government funding for rare diseases in the region. Furthermore, major market players based in the US and Canada accelerate therapeutic development and commercialization in North America. Europe holds the second position owing to the presence of supportive public healthcare systems and availability of reimbursement. On the other hand, Asia Pacific is anticipated to exhibit the fastest growth rate during the forecast period. The rising medical tourism industry, growing middle-class population, and increasing research activities drive the pediatric growth hormone deficiency market expansion in Asia Pacific.
Fastest Growing Region for Pediatric Growth Hormone Deficiency Market
Asia Pacific presents the most lucrative prospects for the pediatric growth hormone deficiency market players globally. The key factors fueling the market growth in this region include rising healthcare expenditure, increasing public awareness, and improving access to diagnosis and treatment across various Asian countries. For instance, China and India have a large patient population suffering from growth hormone deficiency due to genetics. Moreover, the presence of a massive underserved patient base in rural areas offers significant untapped opportunities. Leading international providers are actively entering into strategic partnerships with local players to strengthen their presence in Asia Pacific. Extensive research funding from private and public organizations also contributes to the faster adoption of innovative therapies. All these elements will consistently accelerate the Asia Pacific pediatric growth hormone deficiency market expansion during the coming years.
Get More Insights On- Pediatric Growth Hormone Deficiency Market
Author Bio:
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)
English
Arabic
French
Spanish
Portuguese
Deutsch
Turkish
Dutch
Italiano
Russian
Romaian
Portuguese (Brazil)