I know of no scientific evidence to support any of the marketing claims made for these supplements. I discussed your question with Tieraona Low Dog, M.D., an internationally recognized expert in the fields of integrative medicine, dietary supplements and women’s health, and an authority on botanical medicine. She explains that IGF-1 in the velvet promotes rapid growth of the antler. Dr. Low Dog notes that the two studies examining the effects of deer antler velvet supplements taken by athletes have yielded conflicting results. One showed some improvements in endurance and knee strength in weightlifters, but the other found no differences in rowers after 10 weeks of supplementation.
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." 
Research has been conducted on the potential use of deer antler velvet for healing of wounds. In Russia (Arapov, 1969), Pantocrin was administered to patients with surgical and internal wounds. The study reported that there were a number of positive effects, including the normalization of arterial pressure, reduction in surgical complications, and becoming active quicker. In tests on rats (Wang, 1985), bone fracture repair was accelerated. A recent study by Bubenik found that antler helped heal epidermal wounds in rats. In another study by Takikawa, et al., researchers reported observing new bone formation following experimental whiplash injuries in rabbits. Pretreatment in rats reduced cell degradation and improved recovery times from extreme temperature and electric shock exposure.
Nutronics Labs IGF-1 Platinum is the strongest Antler Velvet on the market. With our 300,000 Nanograms of IGF-1, IGF-2 & other growth factors from the World's Purest Deer Antler Velvet, IGF-1 Platinum helps individuals of all backgrounds train harder, build lean muscle and speed their recovery time, this is by far the strongest and most effective product on the market. This can be used by anyone who wants to achieve optimum IGF levels and a healthy lifestyle.
Indeed, within weeks you may begin to notice less extra weight around the waist and a firmer belly (a.k.a. a smaller "spare-tire").* We tell them, "That is because your hormones are working better and why you are looking and feeling better from all that hard work exercising." We get a spare-tire because our body gets tired, Your new thing to do with your nutrition and fitness program will remove that spare-tire and replace it with a lean and solid waist that you and others can be proud of.
Velvet antler in the form of deer antler spray has been at the center of multiple controversies with professional sports leagues and famous athletes allegedly using it for injury recovery and performance enhancement purposes. In mid-2011 a National Football League (NFL) player successfully sued a deer antler velvet spray manufacturer for testing positive for methyltestosterone in 2009 for a total amount of 5.4 million US dollars. In August 2011, Major League Baseball (MLB) added deer antler spray to their list of prohibited items because it contains "potentially contaminated nutritional supplements." 
Bottom line: Rogol says it’s “extremely unlikely” that deer antler in any form could offer athletes a boost. “Deer antlers do contain growth factors,” he explains. But it’s a huge leap of faith to talk about an extract doing anything beneficial for human beings, whether it’s slowing aging, developing muscle, or repairing tendons, he adds. Opinions like Rogol’s are one reason the FDA and anti-doping agencies haven’t yet taken steps to ban deer antler products that contain IGF-1.
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.