Market Overview:
The Global Hormone Replacement Therapy Market size is expected to grow from USD 29.83 billion in 2022 to USD 48.63 billion by 2030, at a CAGR of 6.3 % during the forecast period (2023-2030).
When the body's hormone production is insufficient, hormone replacement therapy, or HRT, is used to supplement natural hormones. Patients who need hormone replacement therapy might, for instance, be thyroid or human growth hormone patients. In addition, HRT was frequently given to menopausal women to treat symptoms like hot flashes, night sweats, sleep issues, psychological issues, Genito-urinary disorders (such as frequent urination and dry vagina), as well as to prevent osteoporosis. Hormone replacement therapy has been shown to help women with menopause symptoms like hot flashes and osteoporosis by lowering their risk. These medications are also fueling the market's expansion because they are now being used to treat a wide range of additional hormone-related diseases that affect both men and women of all ages.
Top Key Players in the Hormone Replacement Therapy Market:
Ascendis Pharma A/S, Abbott Laboratories, Bayer AG, Merck KGaA, Pfizer Inc, Novartis AG, Noven Pharmaceuticals Inc, Novo Nordisk A/S, TherapeuticsMD Inc and other major players.
Market Dynamics and Factors for Hormone Replacement Therapy Market:
Drivers:
Launch of New Products by Key Market Players
The launch of new products by key market players is a significant driver for the growth of the Hormone Replacement Therapy (HRT) Market. Hormone Replacement Therapy involves the administration of hormones, such as estrogen and progesterone, to manage and alleviate symptoms associated with hormonal imbalances, particularly during menopause in women.
Key players in the HRT market are constantly researching and developing innovative hormone therapy products to address unmet medical needs. These new products aim to provide safer and more effective treatment options, thereby expanding the market's reach to a broader patient base.
Opportunities:
Growing Awareness Among Individuals About HRT
Pharmaceutical companies release new cutting-edge drugs to the global market as a result of rising unmet hormone replacement demand in developing nations and growing awareness of the treatment of hormone abnormalities. In addition, the prevalence of menopause and hormone deficiency issues in important nations has prompted manufacturers to release novel products like combination therapy products to displace the regular use of long-acting parenteral drugs. For instance, Myovant Sciences reported that in May 2021, the FDA had approved its drug MYFEMBREE® (relugolix 40 mg, estradiol 1 mg, and norethindrone acetate 0.5 mg) for the management of heavy menstrual bleeding in premenopausal women caused by uterine fibroids. This ground-breaking medication was created in collaboration with Pfizer.
Segmentation Analysis of the Hormone Replacement Therapy Market:
By Route of Administration, the oral segment is expected to dominate the market. For men, administration of testosterone is done orally, and for women, oral medication is the most common form of estrogen replacement therapy.
By HRT Type, estrogen is likely to dominate in this area. Menopause symptoms are becoming more common among women all over the world. Many doctors will prescribe an estrogen-containing medicine for menopause.
Regional Analysis of the Hormone Replacement Therapy Market:
North America is expected to dominate the market during the forecast period. The majority of disorders affecting people in the United States are endocrine-related. Eight major glands in the endocrine system produce vital hormones that are crucial to the functioning of the human body. In the US, diabetes is the most prevalent endocrine disease. The National Diabetes Statistics Report for 2020 from the CDC (Centers for Disease Control) estimates that 34.2 million Americans, or 10.5% of the population, have diabetes. An estimated 26.8 million people, or 10.2% of the population, have been diagnosed with diabetes.
Key Industry Development:
In August 2021, Ascendis Pharma A/S announced that the FDA has approved its medicine SKYTROFA for the treatment of pediatric patients aged one year and older who suffer from growth hormone insufficiency. This treatment was developed with the help of TransCon technology.
In April 2021, TherapeuticsMD Inc, and Theramex announced that the Medicines and Healthcare Products Regulatory Agency (MHRA) has approved BIJUVE® for use in the United Kingdom, and the Federal Agency for Medicines and Health Products (FAMHP) has approved BIJUVA® for use in Belgium.
Regional Outlook (Revenue in USD Million; Volume in Units, 2023-2030)
North America
- The U.S.
- Canada
- Mexico
Eastern Europe
- Russia
- Bulgaria
- The Czech Republic
- Hungary
- Poland
- Romania
- Rest of Eastern Europe
Western Europe
- Germany
- UK
- France
- Netherlands
- Italy
- Spain
- Rest of Western Europe
Asia Pacific
- China
- India
- Japan
- Singapore
- Australia
- New-Zealand
- Rest of APAC
Middle East & Africa
- Turkey
- Saudi Arabia
- Qatar
- UAE
- Israel
- South Africa
South America
- Brazil
- Argentina
- Rest of SA
