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.
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.