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New Zealand research reports that although the mechanism is unknown, deer antler velvet shows strong anti-inflammatory effects. Recent clinical tests suggest oral ingestion of glycosaminoglycan-peptide complex, or components such as chondroitin sulfate and glucosamine sulfate — both found in deer antler velvet — may help stimulate cartilage repair.
A study by Chen found that deer antler velvet inhibits monoamine oxidase activity in the liver and brain tissues of aged mice. Monoamine-oxidase inhibitors prevent breakdown of monoamine neurotransmitters such as norepinephrine and serotonin. Antler apparently allows these vital neurotransmitters to be available longer to the brain structure, enhancing mood.
Deer antler velvet's effects on cell growth and repair have been investigated in several areas. Deer antler velvet may be a natural source of hormones for those seeking aid to muscle growth and development. Research has identified various growth factors in deer antler velvet including IGF-1 (insulin–like Growth Factor-1), IGF-2 (insulin–like Growth Factor-2), and EGF (Epidermal Growth Factor).

In an ovalbumin sensitized mouse model, 4 weeks of Velvet Antler at 2.5-10mg total (weight of mice not given, assuming 20g this equals 125-500mg/kg or 10-40mg/kg for humans) was able to reduce total Immunoglobulin E (IgE) and Ovalbumin-specific IgE at 14, 21, and 28 days.[21] When challenged with methacholine and subsequently having their airway power measured, it appeared that Velvet Antler exert anti-asthmatic effects in regards to allergies.[21] 
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.
IGF-1 can help slow this aging process down by increasing the telomere length of our DNA. Telomeres are a protective "cap" at the end of each strand of our DNA which prevents the DNA from becoming damaged. DNA becomes damaged as the telomeres grow shorter with age. As more DNA strands become damaged, cells in our bodies can no longer function properly which results in many medical conditions, diseases, and even death. This is how IGF-1 can help longevity. It does this by promoting healthy DNA strands to keep our cellular functions optimal.
Using deer antler velvet benefits sexual functions and libido by helping to increase gonadotropin hormones which include luteinizing hormone (LH) and follicle-stimulating hormone (FSH). Luteinizing hormone (LH) and follicle-stimulating hormone are hormones that stimulate the sex glands. The stimulation of the sex glands is pivotal for sexual reproduction. Without the presence of the gonadotropin hormones, the sexual organs will fail at their purpose and the individual will be considered infertile. As the deer antler velvet promotes an increase in LH, the LH causes the testes to produce more testosterone.
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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