The pediatric growth hormone deficiency market is witnessing significant growth owing to increasing prevalence of growth hormone deficiency disorders amongst children and rising adoption of human growth hormone therapy for treatment. Growth hormone deficiency or GHD in children leads to short stature, metabolic disorders and other medical issues. Recombinant human growth hormones help address the underlying growth hormone insufficiency and aid normal development in pediatric patients.
The global pediatric growth hormone market size was valued at US$ 3 billion in 2020 and is expected to reach a value of US$ 4 billion by 2026, registering a CAGR of 5% over the forecast period.
Key Takeaways
Key players operating in the pediatric growth hormone deficiency market are Novo Nordisk A/S, copyright Inc., Eli Lilly and Company, Merck KGaA and Novartis AG. Novo Nordisk dominates the global pediatric growth hormone market with its somatropin product Norditropin.
The growing incidence of growth-hormone deficiency disorders in children worldwide along with improving diagnosis is fueling the demand for pediatric growth hormone therapies. Additionally, favorable reimbursement policies for growth hormone treatment in developed countries is encouraging its uptake.
The Pediatric Growth Hormone Deficiency Market is witnessing increasing penetration in developing markets like Asia Pacific, Latin America and Middle East & Africa due to rising awareness, improving access and expanding healthcare infrastructure in these regions.emerging biologics companies focusing on pediatric indications also offers lucrative opportunities.
Market drivers
One of the major drivers for the pediatric growth hormone deficiency market is the high efficiency and effectiveness of recombinant human growth hormone therapy. Studies have shown that treatment with biosimilar human growth hormones led to rapid catch up growth and helped children with growth hormone deficiency achieve normal adult height. The long-term benefits and proven efficacy of these drugs is ensuring continued usage in pediatric patients. Additionally, sustained investments in R&D by biopharmaceutical players for development of improved and convenient drug delivery systems such as tablet formulations are also fueling market revenues.
Impact of current geopolitical situations on the pediatric growth hormone deficiency market without mentioning any numbers
The pediatric growth hormone deficiency market is facing challenges due to geopolitical instability and economic uncertainties in various parts of the world. The ongoing conflicts and political unrest in the Middle East and Africa have significantly affected the healthcare infrastructure and resources available for treatment of chronic diseases like growth hormone deficiency in these regions. This is negatively impacting the growth prospects of market players in these geographical areas. Additionally, economic slowdowns and rising healthcare costs have made it difficult for many patients to regularly avail the expensive treatment required for this condition.
The market will need to devise strategies to tackle these geopolitical hurdles and ensure access to therapy is not disrupted. Players could consider partnerships with local stakeholders and governments to boost supply even in conflict zones. Developing affordable and low-maintenance treatment solutions will help expand reach in regions with financial constraints. While political issues may remain unsolved, the industry must focus on building resilience within national healthcare systems to minimize external shocks. Remote and telehealth monitoring can assist continuity of care. Overall, overcoming geopolitical barriers and prioritizing patient needs over profits will be crucial for sustainable long-term growth of this market.
In terms of geographical concentration, North America currently accounts for the largest share of the pediatric growth hormone deficiency market value owing to developed healthcare infrastructure and high adoption rates among patients and physicians. Europe is another major regional market driven by favorable reimbursements and awareness programs. The Asia Pacific region offers high growth potential and is expected to emerge as the fastest growing market for players as economies expand access to modern therapies. Countries like China and India with their huge patient pools and rising standards of living present lucrative opportunities.
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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)