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.
In a randomized, placebo controlled test in 2004, researchers at the University of Alberta, Canada, placed 18 males from the Edmonton Police Force into a 9 week strength training program. The results showed that deer antler velvet increased the strength and endurance of the subjects relative to the control group. The researchers found that use of deer antler velvet significantly increased blood plasma testosterone levels. 
Generally researchers agree that deer antler velvet protects, strengthens and restores the body's functions that are out of balance. In other words, it can act as an adaptogen on the human body, helping where it is needed. Studies suggest that deer antler velvet may have beneficial effects related to: increases in muscular development, strength and endurance; improved recovery; prevention and reduction of inflammation; improvement of sexual health; reduction in blood pressure; improvement in bone and joint health; stimulation of the immune system; and more.

Deer antler velvet can act as a natural adaptogen, restoring homeostasis to an unbalanced body by helping where it is needed. Deer antler velvet has an effect on many systems of the body given its complex chemical composition. The active ingredients in deer antler velvet are mostly precursors that are required by the body to process substances that maintain its health and wellbeing.
"Unlike steroids, which are small, cholesterol-based hormones, protein-based hormones or growth factors can easily be destroyed," he wrote in an email. Cohen guesses that even if you consume high levels of IGF-1, most if not all of the substance would be destroyed after hitting the acid in our stomach and before entering the blood system, which is how compounds we ingest reach the muscles. "This is also why you have to inject insulin instead of just eating insulin pills," he added.
Velvet Antler is a supplement derived from powdered or crushed antlers, most commonly from deer (and thus referred to as Deer Velvet Antler) although Elk have also been used. They have been used in Traditional Chinese Medicine.[1] The base of the antler is referred to as Cervus (in reference to deers), Lu Jiao Pan, Zhen Zhu Pan, as well as Lu Hua Pan and appears to have been traditionally used for cardiovascular disease, gynecological problems, immunological deficiencies, blood cancers, tissue repair and health promotion.[1] The specific part used is the antler base; when the antler is sawed off the base temporarily remains until the regeneration of the new antler pushes it off which occurrs occasionally in the wild. Traditional usage involves using the base and macerating it in wine or decocting it with water for oral consumption.[1]

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. 
Data is limited. Two studies (n=40 and 168) investigating the efficacy of elk velvet antler supplementation on rheumatoid arthritis found no effect, while a study conducted in people with osteoarthritis (n=53) reported symptomatic relief among participants. The small sample sizes may result in the trials being underpowered to detect effects.25, 28, 29

I am sure we will want to discover the truth and go buy he easy to read and well cited book to make your own study. She has a earned a PhD in nutrition. Written 500 articles, been on talk radio, on TV, in Time Magazine, Prevention Magazine and written up in the New York Times a couple times. Okay sure, so what did her book say? This is where it starts to get good...
Repeated studies have been conducted on the interactions of Velvet Antler and hormones, and all studies have found that this supplement has failed to increase circulating hormone levels. One study found a highly variable increase in power output, which is antagonized by another study suggesting no significant increase in power. For the purposes of performance enhancement, the evidence does not currently support Velvet Antler as a supplement.
For those of you in your teens and 20’s, if you take this type of supplementation your body will begin to stop producing this naturally; and that right there is NOT a good thing. If you really believe you are getting some benefit from using this supplement than you will need to take more and more as your body stops making it completely (at an early age), and will most very likely have complications later, if not sooner, due to having to increase your dose. Therefore when it is found, and it is known that IGF-1, the active ingredient of why Deer Antler Velvet is used, can cause cancer, especially prostate cancer and the enlargement of other vital organs in the body, not muscles.
Deer antler spray products are not cheap. Expect that buying a high-quality product will set you back about $60–$100 per bottle. When taken as directed, each bottle should last you about one month. You don’t need to refrigerate the spray. However, keep it away from very hot temperatures to preserve the chemical composition of the product. Manufacturers claim that you can start experiencing benefits within 3–4 days. However, results definitely differ from one person to the next.

“Nutronics Labs Deer Antler Spray is an incredible product. After just a few days of using it, I noticed a significant decrease in the chronic knee arthritis pain I’ve suffered from for many, many years due to dancing and sports injuries. As an added bonus, my ENTIRE body suddenly felt lighter, and generally pain free…it wasn’t until taking the product that I realized most of my joints had been stiff and achey. I had been living in pain for years without even realizing it, having become accustomed to being constantly uncomfortable and sore. I was able to work out harder, recover faster, and noticed significantly increased flexibility and overall mobility. I noticed substantial improvement in muscle tone.

Powdered velvet antler is available in capsule form from health shops. As a general tonic and to fight fatigue, the recommended dosage is usually 1 or 2 capsules (250 to 350 milligrams each) per day. For conditions such as osteoarthritis, higher doses may be used under supervision of a health practitioner. The effects of velvet antler gradually accumulate and are typically seen 8 to 12 weeks.

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. 
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