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] 
In a double blind study (Edelman, 2000), 54 patients with arthritis in the knee were given deer antler velvet or a placebo and assessed at 1, 3 and 6 months. Patients treated with deer antler velvet showed improvement in pain and physical global assessment at 3 and 6 months. No significant improvement was observed for the placebo group for any of the parameters examined.

However, if you’ve never taken deer antler product before, chances are you’re considering trying it because you have a specific concern or problem and someone has suggested you try Deer Antler Velvet, or you saw something on the Internet and here you are. You’re wondering if this is the right product, or whether you should keep looking, right? So, here are the Top 10 Benefits of Deer Antler Velvet.
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.
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.