Currently, IGF-1 is banned by both the World Anti-Doping Agency and the Food and Drug Administration (FDA). However, deer antler spray seems to provide only very small amounts of IGF-1. This is why it’s no longer considered illegal. Insulin-like growth factor is also naturally found in other animal-derived foods, including eggs, milk and red meat. Some experts believe that the amount of IGF-1 obtained from using deer antler products is really not much more than from eating these foods.
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. 
In an experiment (Gerard, 2004) conducted to study muscle damage and repair, 20 males ran for 35 minutes on a downhill treadmill. The participants, who were not trained runners, were pre-treated with deer antler velvet or a placebo 14 days prior to the run. The subjected treated with deer velvet showed that their creatine kinase levels, a marker of muscle damage, was significantly lower than the control group. Also, muscle soreness on average was reported to be gone 24 hours before subjects in control.
IGF-1 is currently on the World Anti-Doping Agency’s prohibited list due to how it gives athletes an unfair advantage in terms of building strength and muscle mass. (7) However, it’s still legal to use supplements that may provide IGF-1 or similar effects. Most of the studies that show positive results from using deer antler supplements have used high doses. And some have tested the product on animals (mice or rats) rather than humans.
Companies attributing health claims from using dietary supplements of velvet antler have received warning letters from the US Food and Drug Administration (FDA) concerning the sale of encapsulated powders connected to their marketing claims.[12] The claims were in violation of the United States Food, Drug and Cosmetic Act [21 USC/321 (g)(1)][36] because they "establish the product as a drug intended for use in the cure, mitigation, treatment, or prevention of disease" when velvet antler has no such scientific evaluation. Additionally stated by the FDA, velvet antler was "not generally recognized as safe and effective for the referenced conditions" and therefore must be treated as a "new drug" under Section 21(p) of the Act. New drugs may not be legally marketed in the United States without prior approval of the FDA.[12][14][15][16][17] As of 2018, it is legal to sell velvet antler powder, extract or spray in the U.S. as a dietary supplement as long as no disease treatment claims are made and the label bears the FDA disclaimer: "This product has not been evaluated by the FDA. It is not intended to diagnose, treat, cure or prevent any disease."
To be clear, some doctors and researchers have stated that they feel deer antler spray is unlikely to cause any significant benefits. This is because it only provides very small amounts of IGF-1, some of which may not even be fully absorbed. However, studies do show that higher doses, or using very high-quality supplements, may contribute to some improvements in performance, body composition, etc. IGF-1 itself has been studied extensively. It can certainly change the way the body looks and operates. Whether or not the role of IGF-1 in the body will translate into any real benefits when obtained from deer antler products will depend on the specific person and dosage used.
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.