Hormone Replacement Therapy Market

The global hormone replacement therapy market size was valued at USD 22 billion in 2019 and is anticipated to expand at a CAGR of 7.5% during the forecast period, 2021–2028. The growth of the market is attributed to the hormonal imbalance disorders such as menopause.
 

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Hormone replacement therapy is suggested for replenishing the hormones when the level of hormones present in the body drops as compared to required standard levels for appropriate functioning of the body. The female human body go through various types of hormonal changes. Level of hormones get changed by growing age which leads to several disorders and diseases. Because of hormonal imbalance human need to face some challenges such as fatigue, muscle loss, memory decline, weight gain, and low libido. Increasing number of females having menopause is impelling the market. Starting age of menopause in women is around 45 to 50 years. In this hormonal level of estrogen and progesterone decrease significantly in women.

The study is conducted by some agencies such as Therapeutic MD, the Rose Research, and the North American Menopause Society (NAMS). According to this study, in the U.S. around one million women are going for hormone replacement therapy and this number is estimated to reach around 2.5 million over the forecast period.
The hormone replacement therapy market is significantly impacted by the COVID-19 pandemic. There is rise in research study for finding the application of hormone replacement in COVID-19 patients. For instance, BMC Medicine in 2020 published a research article. As per this article the survival rate was high in post-menopausal women who are infected with SARS-CoV-2 and on regular dose of exogenous estradiol. Therefore, hormone replacement therapy is anticipated to play important role in the novel therapeutics development for the effective treatment against SARS-CoV2 virus infection, which further leads to the market growth during the COVID-19 pandemic.

Market Trends, Drivers, Restraints, and Opportunities

• Growing awareness about post-menopausal hazards and increase in number of menopausal women are anticipated to drive the market expansion.
• Increasing prevalence of menopausal disorder and development in drug delivery systems with increased effectiveness are expected to fuel the market expansion in the coming years.
• Growing adoption of anti-aging therapy, untapped market of emerging economies are expected to offer significant opportunities for the market players.
• High cost of treatment and side effects of hormone replacement therapy are projected to hamper the market growth.
• Stringent regulations, product recalls and delay in FDA approvals are anticipated to impede the growth of the market.

Scope of the Report

The report on the global hormone replacement therapy market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Market Segment Insights

Estrogen segment is projected to hold a key market share
In terms of products, the hormone replacement therapy market is segmented into estrogen, human growth, thyroid, and testosterone. The estrogen hormone replacement therapy segment dominated the market share and is expected to hold a key share of the market during the forecast period. During hysterectomy or post-menopause in women the estrogen replacement therapy is used for maintaining the hormonal balance. For generating huge number of prescriptions estrogen- based product is studied which makes the segment largest.

On the other hand, the human growth hormone replacement therapy segment is anticipated to expand at a rapid pace during the forecast period due to increasing prevalence of growth deficiencies, mainly in children. Based on survey conducted by WHO, around 15 million infants are born premature and about 85% of these newborns are not developed completely. In adults, for the treatment of pituitary tumors and short bowel syndrome the hormone replacement therapy is used.
 

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Parental segment is expected to grow at a significant pace
On the basis of routes of administration, the hormone replacement therapy market is segregated into oral, parenteral, transdermal, and others. The parenteral segment is expected to account for a key share of the market in the coming years. For testosterone drugs the oral route of administration is widely preferred. The other segments includes vaginal tablets, implants, vaginal creams, and vaginal rings.

Menopause segment is anticipated to register a substantial CAGR
Based on types of diseases, the hormone replacement therapy market is bifurcated into menopause, hypothyroidism, male hypogonadism, growth hormone deficiency, and others. The menopause segment is expected to hold a key share of the market during the forecast period. Based on the statistics given by the American Congress of Obstetricians and Gynecologists, daily approximately 6,000 women are affected by menopause disease. The existence of several generic and branded drugs and growing awareness about menopause among women are projected to boost the market growth.

North America is expected to dominate the market
On the basis of regions, the hormone replacement therapy market is categorized as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market of North America is anticipated to dominate the market during the forecast period. The regional market growth can be attributed to development of new formulation, innovation in the drug delivery systems, and growing target population in North America. According to the National Institute of Health (NIH), around 50% of the total postmenopausal women have done HRT at least once.

On the other hand, the market of Asia Pacific is expected to exhibit a rapid growth rate in the coming years. Growing level of awareness and increasing focus on healthcare providers are anticipated to fuel the market growth inside the region.
 

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Segments

Segments Covered in the Report
The global hormone replacement therapy market has been segmented on the basis of

Products

• Estrogen
• Human Growth
• Thyroid
• Testosterone

Routes of Administration

• Oral
• Parenteral
• Transdermal
• Others

Types of Diseases

• Menopause
• Hypothyroidism
• Male Hypogonadism
• Growth Hormone Deficiency
• Others

Regions

• Asia Pacific
• North America
• Latin America
• Europe
• Middle East & Africa

Key Players

• Abbott Laboratories
• Novartis
• Pfizer Inc.
• Mylan Laboratories
• Merck and Co.
• Novo Nordisk
• Bayer Healthcare
• Eli Lilly
• Genentech

Competitive Landscape

Key players competing in the hormone replacement therapy market includes Abbott Laboratories, Novartis, Pfizer Inc., Mylan Laboratories, Merck and Co., Novo Nordisk, Bayer Healthcare, Eli Lilly, and Genentech.

Key players are implementing business strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market shares. For instance, in February 2015, Famy Care was acquired by Mylan Laboratories. After this acquisition Mylan started the female health business including the production of hormone replacement drugs, Intra-Uterine Devices (IUD), and contraceptives.