Hormone Replacement Therapy Market
Hormone Replacement Therapy Market - Global Industry Assessment & Forecast
- By Products Estrogen & Progesterone Replacement Therapy, Human Growth Hormone (HGH) Replacement Therapy, Thyroid Hormone Replacement Therapy, Testosterone Replacement Therapy, Parathyroid Hormone Replacement
- By Routes of Administration Oral, Parenteral, Transdermal, Other Routes of Administration
- By Disease Types Menopause, Hypothyroidism, Male Hypogonadism, Growth Hormone Deficiency, Hypoparathyroidism
- By Region North America, Europe, Asia Pacific, Latin America, Middle East & Africa
|Forecast Years:||2021 - 2028|
|Historical Years:||2016 - 2020|
|Revenue 2021:||USD 20.1 Billion|
|Revenue 2028:||USD 28.6 Billion|
|Revenue CAGR (2021 - 2028):||6.1%|
|Fastest Growing Region (2021 - 2028)||Asia Pacific|
|Largest Region (2021):||North America|
- Cross-segment Market Size and Analysis for Mentioned Segments
- Additional Company Profiles (Upto 5 With No Cost)
- Additional Countries (Apart From Mentioned Countries)
- Country/Region-specific Report
- Go To Market Strategy
- Region Specific Market Dynamics
- Region Level Market Share
- Import Export Analysis
- Production Analysis
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Global Hormone Replacement Therapy Market is valued at USD 20.1 Billion in 2021 and is projected to reach a value of USD 28.6 Billion by 2028 at a CAGR (Compound Annual Growth Rate) of 6.1% over the forecast period.
The global market for hormone replacement treatment is anticipated to rise as chronic disorders like hypogonadism in adult males become more common. In addition, increased product approvals and expanding R&D efforts by key companies to find novel therapies to treat hormonal imbalances are anticipated to contribute to the growth of the market under study throughout the forecast period. The prevalence of menopausal disorders is on the rise, and women are becoming more aware of the problems associated with post-menopause, which are two key contributors in the expansion of the global market for Hormone Replacement Therapy. New launches of Hormone Replacement Therapy are also anticipated to make a significant contribution to the expansion of the Hormone Replacement Therapy Market. However, it is anticipated that the negative effects of Hormone Replacement Therapy and the high cost of treatment will restrain market expansion. The development of bioidentical hormone replacement treatment and the use of telemedicine for Hormone Replacement Therapy, on the other hand, are anticipated to offer lucrative opportunities for the expansion of the worldwide Hormone Replacement Therapy Market soon. HRT was also frequently recommended to menopausal women to treat their symptoms. In addition, increased product approvals and expanding R&D efforts by key companies to find novel therapies to treat hormonal imbalances are anticipated to contribute to the growth of the market under study throughout the forecast period.
Hormone Replacement Therapy Market Size, 2021 To 2028 (USD Billion)
The Hormone Replacement Therapy Market is segmented based on Products, Route of Administration, Disease Types, and Region. Based on Products, the market is segmented as Estrogen Replacement Therapy, Human Growth Hormone (HGH) Replacement Therapy, Thyroid Replacement Therapy, and Testosterone Replacement Therapy. Furthermore, based on route of administration, the market is further bifurcated into Oral, Parenteral, and Other Routes of Administration. In addition, based on the Disease Types the market is further divided into Menopause, Hypothyroidism, Male Hypogonadism, Growth Hormone Deficiency, and Hypoparathyroidism. Likewise, based on the Region, the market is further divided into North America, Europe, Asia Pacific, Latin America, Middle East & Africa.
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Based on Products
Estrogen replacement therapy category dominated the market in 2021
On the basis of product, the market is segmented as Estrogen Replacement Therapy, Human Growth Hormone (HGH) Replacement Therapy, Thyroid Replacement Therapy, and Testosterone Replacement Therapy. Estrogen replacement therapy segment holds the significant share in the market. This is related to women using more estradiol products to help them maintain hormonal balance during post-menopause or after hysterectomy. Estrogen-based products have been thought to make the most arrangements overall, making them the best item.
Based on Routes of Administration
Parental category dominated the market in 2021
Based on route of administration, the market is segmented as Oral, Parenteral, and Other Routes of Administration. The parental segment is anticipated to grow at the highest rate during the forecast period. because it is widely prescribed and is simple to administer. Tablets and pills are typically included in HRT medicines. During the projected time, the parenteral segment is anticipated to have profitable expansion. The category is expected to grow because of improvements in parenteral drug delivery techniques, such as pen-based medication delivery, which are expected to increase patient compliance and simplify administration. The Huma trope Homatropine, Norriton Flexor Pen, and Genotropin Mixer Pen are a few of the well-known items offered in pen form.
Based on Regional Analysis
North America is expected to hold the substantial market share in the market during the forecast period.
North America is estimated to dominate the market with the highest CAGR during the forecast period. Due to an increase in generic Hormone Replacement Therapy product launches by manufacturers, a growth in the target market, and advancements in drug delivery technologies combined with the creation of new formulations. The main factors driving this market are anticipated to be a rise in women's use of HRT for post-menopausal and menopause treatment. The biggest market share in the area is a result of several reasons, including significant product launches, manufacturer collaboration agreements, and benevolent reimbursement policies. The demand for Hormone Replacement Therapy in the area is anticipated to increase as more women enter menopause.
The key players in the Hormone Replacement Therapy Market include- Bayer AG (Germany), Pfizer Inc. (US), Merck & Co. Inc. (US), Viatris Inc. (US), Novo Nordisk A/S (Denmark), Eli Lilly and Company (US), F. Hoffmann-La Roche Ltd. (Switzerland), Noven Pharmaceuticals Inc. (US), ASCEND Therapeutics US LLC. (US), AbbVie Inc. (US) and others.
· In August 2020, the U.S. FDA approved Sogroya (somapacitan-beco), an HGH replacement therapy product developed by Novo Nordisk A/S. This product is administered once a week through a subcutaneous route in adults diagnosed with growth hormone deficiency.
· In December 2020, the US FDA approved the Myovant Sciences' Orgovyx (relugolix), which is an orally administered treatment that works by blocking the pituitary gland from making hormones called luteinizing hormone and follicle-stimulating hormone, thus leading to the reduction in the amount of testosterone produced by the testicles. This aids in the treatment of adult patients with advanced prostate cancer.
Segmentation of Hormone Replacement Therapy Market
|Regions & Countries Covered||
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis|
Frequently Asked Question
What is the global demand for Hormone Replacement Therapy in terms of revenue?
The global Hormone Replacement Therapy valued at in 2020 and is expected to reach in 2028 growing at a CAGR of 6.1%.
Which are the prominent players in the market?
The prominent players in the market are Bayer AG (Germany), Pfizer Inc. (US), Merck & Co. Inc. (US), Viatris Inc. (US), Novo Nordisk A/S (Denmark), Eli Lilly and Company (US), F. Hoffmann-La Roche Ltd. (Switzerland), Noven Pharmaceuticals Inc. (US), ASCEND Therapeutics US LLC. (US), AbbVie Inc. (US).
At what CAGR is the market projected to grow within the forecast period?
The market is project to grow at a CAGR of 6.1% between 2021 and 2028.
What are the driving factors fueling the growth of the market.
The driving factors of the Hormone Replacement Therapy include
- Rising prevalence of hormonal disorders and increasing number of patients undergoing hormone replacament therapy
Which region accounted for the largest share in the market?
North America was the leading regional segment of the Hormone Replacement Therapy in 2020.