The first question to ask, is why? Why are you considering this supplement? A supplement is not intended to fix a crappy diet or poor exercise program. A supplement is intended to be just that, a supplement to your existing good diet/good exercise program. And if you’re eating a well-rounded diet, then there’s really no need for supplementation at all.
“I've been taking deer antler since 2012 so I've been taking it for years and I definitely believe in it. And for recovery after hard, intense workouts, deer antler is a must. Go to AntlerFarms.com, definitely get the [deer antler velvet extract tablets] and the [deer antler velvet capsules]. Take those two in combination and you will feel great.”*
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.
Euricoma Longfolia: A shrub found in Southeast Asia that is said by some native cultures to enhance male virility. It has been used unofficially to treat fever, high blood pressure, bone pain, and syphilis, and the limited clinical data about euricoma longfolia that exists suggests it may possibly increase testosterone levels. There is no data about the long-term effects of euricoma longfolia consumption.
While Lentini admits sales have picked up, he says he's been hurt by the perception in the recent baseball letter, which told players that deer antler velvet could be contaminated with methyltestosterone, a banned steroid. The connection is based on the fact that David Vobora tested positive for the steroid after using antler spray. He won a $5.4 million judgment against the company that made the spray.
One study (duplicated in Medline) that used a water extract of Velvet Antler at 50-200mg/kg failed to inhibit the pain killing effect of Morphine yet reduced the rate at which rats became tolerant to Morphine over the course of 6 days when taken an hour prior to Morphine each day. Rats who were given Velvet Antler prior to Morphine also experienced 26.6-36.6% less withdrawal (dose-dependent) and reduced reverse tolerance and dopamine receptor supersensitivity relative to morphine control.
In September, 2013, the headquarters of S.W.A.T.S. was raided and ordered to be shut down by Alabama's attorney general citing "numerous serious and willful violations of Alabama’s deceptive trade practices act". Among the violations were "claims that the company made about a number of products that were unsupported by scientific research. Some of these products were marketed as 'dietary supplements.'"  The assistant Alabama attorney general "says that Deer Antler Spray is dangerous and its sellers are law-breakers." 
According to modern research, deer antler velvet has shown gonadotropic activity. Studies by both Fisher and Wang indicate that deer antler velvet may increase testosterone levels in men and can help prevent some conditions associated with aging. The estrogen hormone most affected by deer antler velvet is estradiol. Estradiol is a precursor to testosterone.
No direct reports of chronic wasting disease (CWD) related to deer velvet supplementation have been published. However, several Web sites contain disclaimers mentioning the possibility of the disease being present in antler products. The CDC has not yet found a relationship between CWD and any neurological disease that affects humans with deer velvet use.
Advanced Healing: You don’t have to be a bodybuilder, martial artist or cage fighter to appreciate fast healing. Our bodies get torn down every day from just living, walking, working and interacting with life. Deer Antler Velvet helps the body heal faster, meaning we have more energy, fewer aches and pains and less recovery time from all the things we do to ding, stress, stretch and hurt our bodies every day.
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.
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 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.