Hormone Replacement Therapy Market
Number of pages: 100 | Report Format: PDF | Published date: February 02, 2023
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
|
Report Attribute |
Details |
|
Market Size Value in 2021 |
US$ 18 billion |
|
Revenue Forecast in 2030 |
US$ 30.93 billion |
|
CAGR |
6.2% |
|
Base Year for Estimation |
2021 |
|
Forecast Period |
2022-2030 |
|
Historical Year |
2020 |
|
Segments Covered |
Therapy Type, Route of Administration, Indication, and Region |
|
Regional Scope |
North America, Europe, Asia Pacific, and the Rest of the World (RoW) |
According to the deep-dive market assessment study by Growth Plus Reports, the global hormone replacement therapy market was valued at US$ 18 billion in 2021 and is expected to register a revenue CAGR of 6.2% to reach US$ 30.93 billion by 2030.
Hormone Replacement Therapy Market Fundamentals
Hormone replacement therapy (HRT) is a medical method used to refill and replace hormone levels in order to maintain the necessary levels required in the body for a healthy physiology. It is a medical technique in which patients receive hormones to increase missing or replace naturally produced hormones. Treatment of menopausal symptoms is the most well-known use of HRT. This therapy is utilized to bring back hormone levels in menopausal women so that the body can function normally. When the body’s production of natural hormones is insufficient, HRT employs synthetic hormones to replace them. For instance, human growth hormone insufficiency and patients with thyroid issues frequently receive HRT. In addition, HRT is often provided to menopausal women to treat symptoms such as night sweats, hot flashes, sleep disturbances, psychological issues, genito-urinary problems (including frequent urination and dry vagina), and osteoporosis prevention.
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Hormone Replacement Therapy Market Dynamics
The global hormone replacement treatment market is expanding at a significant revenue CAGR due to the increasing prevalence of the disorders the therapy targets and the rise in the accessibility to long-acting HGH products. The American Thyroid Association estimates that 12.0% of Americans are likely to experience thyroid disease at some point in their lives. Two key factors propelling revenue growth in the global HRT market are the rise in the prevalence of menopausal sickness and the growth in awareness about post-menopausal issues among women. The market for hormone replacement therapy is fueled by an increase in the cases of hormonal imbalances in children, adults, and the elderly population. For instance, Thader-Willi syndrome (PWS) affects one in every 15,000 infants.
Growing public awareness about hormone deficiencies and diseases is anticipated to fuel market revenue growth. For instance, a UK-based non-governmental organization Child Growth Foundation supports individuals with uncommon growth hormone problems. This group offers information and support to patients, carers, and medical professionals to enhance patients' quality of life.
The adverse effects of HRT are anticipated to limit market revenue growth during the forecast period. Moreover, the development of the global hormone replacement therapy market is anticipated to be constrained by the high cost of treatment and the danger of developing cancer. The market is likely to be restricted by the risks associated with hormone replacement treatment, which include breast cancer, heart disease, stroke, and blood clots.
Hormone Replacement Therapy Market Ecosystem
The global hormone replacement therapy market has been analyzed from four perspectives: therapy type, route of administration, indication, and region.
Hormone Replacement Therapy Market by Therapy Type
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Based on the therapy type, the global hormone replacement therapy market has been segmented into thyroid hormone replacement therapy, testosterone hormone replacement therapy, progestogen hormone replacement therapy, human growth hormone replacement therapy, and estrogen hormone replacement therapy.
The estrogen hormone replacement therapy segment leads the global market. This can be attributed to rising usage of estradiol products by women to help maintain hormonal balance after menopause or hysterectomy. Some of the vaginal symptoms of menopause that can be relieved by estrogen-replacement hormone therapy include dryness, burning, itching, and pain during sex. One can consume estrogen as a pill, gel, patch, lotion, or spray. Approximately 45% of women between the ages of 40 and 60 reported asking a doctor for guidance on the advantages and disadvantages of using HRT after menopause. It has a decent success rate in treating menopausal night sweats and hot flashes.
Hormone Replacement Therapy Market by Route of Administration
Based on the route of administration, the global hormone replacement therapy market has been segmented into parenteral, oral, and others.
The parenteral segment is expected to have a significant revenue share during the forecast period. Improvements in parenteral medication delivery, such as pen-based drug delivery, are projected to increase patient compliance and simplify administration, spurring market revenue growth.
Hormone Replacement Therapy Market by Indication
Based on the indication, the global hormone replacement therapy market has been segmented into male hypogonadism, growth hormone deficiency, menopause, hypoparathyroidism, and others.
The menopausal category dominates the global hormone replacement therapy market due to rise in the number of women experiencing menopause. In 2020, the UN predicted that around 958 million women worldwide would be 50 years of age or older. This number is expected to increase to 1.65 million by 2050. Millions of women may likely survive for more than a third of their lives following menopause. Menopause age does, however, vary depending on several variables; biological variables, such as habitat and heredity, might alter an individual’s menopause age. Due to an increase in new treatments and product introductions, the hypoparathyroidism segment is expected to show growth at a significant revenue CAGR during the forecast period.
Hormone Replacement Therapy Market by Region
Based on the region, the global hormone replacement therapy market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World.
North America dominates the global market for hormone replacement therapy. The biggest revenue share of the market in North America is due to several factors, such as increase in product launches, manufacturer collaboration agreements, and favorable reimbursement policies.
Hormone Replacement Therapy Market Competitive Landscape
The prominent players operating in the global hormone replacement therapy market are:
Hormone Replacement Therapy Market Strategic Developments
The global hormone replacement therapy market is expected to register revenue growth at a CAGR of 6.2% during the forecast period from 2022 to 2030.
Abbott Laboratories, Hisamitsu Pharmaceutical Co., Inc., Merck KgaA, Novo Nordisk A/S, and Bayer AG are among the key players in the global hormone replacement therapy market.
The estrogen hormone replacement therapy segment dominates the global hormone replacement therapy market.
Asia Pacific is expected to register the highest revenue growth during the forecast period.
The global hormone replacement therapy market was valued at US$ 18 billion in 2021.
*Insights on financial performance are subject to the availability of information in the public domain