According to an article published by Business Insider, between 20 to 40 percent of professional MLB and NFL athletes admit to purchasing and using deer antler spray (also called “deer antler velvet”). They hope to benefit from its performing-enhancing effects. (1) Some famous athletes turn to deer antler spray in hopes of promoting growth of new tissue cells or gaining strength due to more easily putting on lean muscle mass.
The latest and greatest performance enhancer, if you've been living under a rock, is deer antler velvet. On the surface, it seems like it could make sense. The coating on the antlers of young male deer that contribute to the growth of that part of their body could help athletes. First, the NFL prohibited Oakland Raiders coach Hue Jackson from endorsing it. Now, according to SI.com, Major League Baseball is warning players about using it.
Deer antlers have been closely linked to IGF-1, which is another term for insulin. This has been well received in eastern medicine as an anti-aging and bodybuilding product. Because it’s also a known natural growth hormone, it’s said to aid in muscle development by enhancing strength and improving recovery time. This is what attracts bodybuilders to this product.
CONDITIONS OF USE AND IMPORTANT INFORMATION: This information is meant to supplement, not replace advice from your doctor or healthcare provider and is not meant to cover all possible uses, precautions, interactions or adverse effects. This information may not fit your specific health circumstances. Never delay or disregard seeking professional medical advice from your doctor or other qualified health care provider because of something you have read on WebMD. You should always speak with your doctor or health care professional before you start, stop, or change any prescribed part of your health care plan or treatment and to determine what course of therapy is right for you.

A systemic review on human interventions[25] makes note of a study conducted on patients of osteoarthritis (Edelman et al. 2000; cannot be located online) which found improvements in joint pain symptoms relative to baseline in the Velvet Antler group and not placebo, although a lack of information on blinding and randomization precludes results that can be drawn from this study.
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