L-Arginine: An amino acid usually found in red meats that is important for the body’s ability to manufacture proteins. L-Arginine has been used to treat conditions like high blood pressure, congestive heart failure, blocked arteries, and erectile dysfunction. L-Arginine is safe for most people, however it should not be taken by women that are pregnant or breastfeeding.
On January 30, 2013, Vijay Singh professional PGA Tour golfer was caught unaware and openly admitted to the personal use of deer antler spray which contained a banned substance at the time. A week later the World Anti-Doping Agency (WADA) lifted the ban on deer antler spray, but with urgency, "Deer Antler Velvet Spray may contain IGF-1 and WADA recommends therefore that athletes be extremely vigilant with this supplement because it could lead to a positive test."  The consensus opinion of leading endocrinologists concerning any purported claims and benefits "is simply that there is far too little of the substance in even the purest forms of the spray to make any difference,"  and "there is no medically valid way to deliver IGF-1 orally or in a spray." 
Deer velvet might have an effect due to the hormones it may contain, including testosterone, androstenedione, and dehydroepiandrosterone. Research in rats, using elk velvet antler, suggested the substance may have an androgen-like effect. The antlers are ground into powder, which people take by mouth. Dosage varies by brand, but a recent study used 215 mg per day. Some distributers, though, recommend dosages ranging from 250 mg to as high as 3000 mg (3 g) per day. So talk with your doctor before you start using deer velvet.
1g of Velvet Antler taken daily for 12 weeks in otherwise healthy adult men has failed to significantly alter serum testosterone levels, either total or free testosterone. Another study in otherwise healthy men has also failed to find such an effect on the endocrine profile, with 11 weeks of 1.5g supplementation failing to alter serum testosterone and a lack of effects also noted after 10 weeks of 560mg in males and females who performed a consistent rowing regimen.
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It is difficult to analyze the quality of Deer Antler Velvet Spray’s ingredients due to their largely untested nature. Deer velvet contains glucosamine and chondroitin, two key chemicals in the body’s joint health processes that our panel of experts highly recommends. It may also increase estrogen production in the body, which can be both good and bad. In some that may be helpful for correcting existing hormonal imbalances, for others it may create them.
In Asia, velvet antler is dried and sold as slices, or as a powder which may be boiled in water, usually with other herbs and ingredients, and consumed as a medicinal soup. In the traditional commercial trade of Korea and China, whole stick antler velvet is divided into three sections based upon their supposed properties. Although there is an absence of uniform standardization, these sections are known as the wax piece (uppers or tips), the blood piece (middles), and the bone piece (bottoms): the wax piece may be marketed as a growth tonic for children, the blood piece supposedly for joint and bone health, and the bone piece supposedly for calcium deficiency and geriatric needs. Early commercial activity in Russia between the 1930s and 1980s led to the production of an alcohol extract from deer antler velvet marketed under the Russian drug trade name Pantocrin (also pantocrine or pantokrin).