Global Hormone Replacement Therapy Market 2022: A $25+ Billion Market by 2027 - Industry Trends, Growth, Impact of Inflation, Opportunities, Company Analysis - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Jan 11, 2023--
The “Hormone Replacement Therapy Market, Global Forecast 2023-2027, Industry Trends, Growth, Impact of Inflation, Opportunity Company Analysis” report has been added to ResearchAndMarkets.com’s offering.
Global Hormone Replacement Therapy Market is expected to reach US$ 25.09 Billion by 2027 from US$ 18.04 Billion in 2022, growing with a CAGR of 6.82% during 2022-2027.
Over the years, hormone replacement therapy has been widely used to treat disorders associated with Menopause in women, which has positively influenced the reduction of hot flashes, risks of osteoporosis, and other menopause symptoms.
Certain factors positively affecting the growth of hormone replacement therapy (HRT) are increasing awareness of postmenopausal issues among women, hormonal imbalance disorders with the rising geriatric population, and a rise in drug development with novel delivery systems.
According to the UN, the global population will grow by 8.5 billion in 2030 and 9.7 billion in 2050. Common problems include weight gain, fatigue, memory decline, low libido, aging appearance, and muscle loss. However, the dangers of HRT vary with the Type, dose, and route of administration, use duration, and initiation age.
Type of Hormone Replacement Therapy
Based on Type, hormone replacement therapy is categorized into Estrogen, Human Growth, Thyroid, Testosterone, and Progestogen. Estrogen & progesterone replacement therapy dominated the HRT market. It continues to maintain its dominance in the future due to high demand due to the increasing number of women reaching Menopause. In addition, Estrogen plus progesterone therapy has a small increased risk of breast cancer, which is more significant with synthetic progestins.
Disease Type of Hormone Replacement Therapy
Based on Disease type, Menopause will emerge as a significant disease segment for the colonoscopy devices industry. The rising number of women aged 45 to 60 years and the increasing incidence of vasomotor symptoms that may lead to severe conditions, such as osteoporosis, are projected to fuel market growth.
As per the American Congress of Obstetricians and Gynecologists, around 6,000 ladies arrive at Menopause every day. In Sept 2021, Theramex announced the approval of Bijuva/Bijuve across Europe, body-identical HRT for estrogen deficiency symptoms in postmenopausal women with an intact uterus at least one year since last menses, which combines progesterone and estradiol in a single daily oral capsule.
The Route of Administration of Hormone Replacement Therapy
Based on the route of administration, the oral category dominated the market in 2022 owing to the rise in prescription rate. Around 120 million prescriptions of Levothyroxine sodium tablets are dispensed annually in the U.S. Parenteral is expected to witness the fastest growth.
In addition, developing and approving long-acting products are expected to boost segment growth. For instance, in October 2021, Pfizer, Inc. received approval for its NGENLA (somatrogon), a once-a-week long-acting recombinant human growth hormone, from Health Canada to treat a patient with growth hormone deficiency.
Region Insights - Hormone Replacement Therapy Market
North America ruled the general market for hormone replacement therapy, owing to the growth hormone deficiency disorders and rise in the prevalence of Menopause and also high awareness of the therapy amongst the age group of 35 years and above patients. In addition, the Availability of advanced product launches of various treatments boosted the North American market.
Europe is the another most dominant region, owing to the geriatric population suffering from hypothyroidism, a surge in hormonal disorders in women suffering from menopausal symptoms, and a rise in growth hormone disorders. For instance, according to Frontier, in June 2021, the prevalence of thyroid disorders ranged from 0.2-5.3% in Europe. Thus, this is leading to an increase in demand for thyroid replacement therapies in Europe, further boosting the market growth in the region.
Asia Pacific is supposed to observe the quickest development over the forecast period. Expanding mindfulness levels and rising focal points of medical services suppliers on the destruction of hormonal lacks are supposed to help the market’s growth inside the locale.
The market in Latin America and Middle East & Africa is expected to grow slower owing to the unmet needs of these therapies, low awareness among the population, reduced healthcare expenditure, and others. For instance, according to the National Library of Medicine, in December 2021, the prevalence of menopausal hormone therapy was 12.5% in these regions, which is still lower compared to the other areas globally. Furthermore, the launch of new products in this region by various key players may fuel the subsequent growth of the market.
Key Companies & Market Share Insights
In 2021, I-MAB Biopharma Co., Ltd. entered into a collaboration with Jumpcan Pharmaceutical Group for the development & commercialization of eftansomatropin alfa (TJ101) in China.
Major global hormone replacement therapy players include
- Merck KgaA
- Bayer AG
- Pfizer Inc.
- Abbott Laboratories
- Novartis AG
- Novo Nordisk A/S
- Amgen, Inc.
- F. Hoffmann-La Roche
- Eli Lilly and Company
Key Topics Covered:
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1 Growth Driver
5. Hormone Replacement Therapy Market
6. Market Share - Hormone Replacement Therapy Market
6.1 By Type
6.2 By Disease Type
6.3 Route of Administration
6.4 By Region
7. Type - Hormone Replacement Therapy Market
7.2 Human Growth
8. Disease Type - Hormone Replacement Therapy Market
8.3 Male Hypogonadism
8.4 Growth Hormone Deficiency
9. Route of Administration - Hormone Replacement Therapy Market
10. Region - Hormone Replacement Therapy Market
10.1 North America
10.3 Asia Pacific
10.4 Rest of World
11. Key Players Analysis
11.2 Recent Initiatives
11.3 Net Sales
For more information about this report visit https://www.researchandmarkets.com/r/q7mr8n
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INDUSTRY KEYWORD: HEALTH PHARMACEUTICAL
SOURCE: Research and Markets
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PUB: 01/11/2023 08:19 AM/DISC: 01/11/2023 08:19 AM