Currently, one study that induced a fracture unto a rat bone and injected 20mg/kg of Velvet Antler polypeptides into the area every other day for 7 weeks noted that fracture healing rate was dose-dependently increased at weeks 4-7 relative to control and that the bone loading weight was increased following rehabilitation with 10mg/kg (60.7%) and 20mg/kg (93% more than control) after 7 weeks.[29] An in vitro study suggested that this was due to a concentration-dependent mitogenic activity on osteoblastic precursors and chondrocytes.[29]
Research in Korea, New Zealand and China has shown that deer antler velvet can stimulate the immune system. Extracts of deer antler velvet were variously shown to increase macrophage activity, stimulate the production of lymphocytes and increase the number of red and white blood cells. Each of these effects may directly complement the body’s ability to resist or fight disease and so promote and maintain health and an associated feeling of well being.
Deer antler velvet is used for its purported ability to raise testosterone levels to treat decreased libido (low sex drive), infertility, and erectile dysfunction in men.  It is used in combination with other herbs to treat sexual dysfunction and hormonal dysfunction in men and women.  It is used to treat conditions resulting from deficient kidneys.  Some people use it because of its reputed benefit as an aphrodisiac and muscle strength enhancer.  It is also sometimes prescribed to help alleviate withdrawal symptoms in the treatment of morphine addiction.  
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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.
Deer Antler Velvet Spray has been tested and results show that this is safe. It doesn’t contain the controversial Human Growth Hormone, but it offers the same benefits. This doesn’t need a prescription. However, the site states that some have experienced mild stomach pains. While this is considered a supplement, doctors still advise you to go in for consultation because this product is surrounded with controversy and isn’t well accepted by the medical community.
The harvesting of deer antler velvet can be a painful process, as the velvet tissue contains an abundance of nerves and bleeds profusely if cut or removed. Dr. Low Dog says she has no problem with harvesting velvet from deer killed for food, but is concerned that shortcuts will be taken should demand for the supplements continue to grow. She notes that the United Kingdom has banned the removal of deer antler velvet under its welfare-of-livestock regulations, unless the antlers have been damaged or most of the velvet has been shed.
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."

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