When the body cannot produce enough hormone, hormone replacement therapy is used to replace the natural hormone. The menopause symptoms and long-term health are typically treated with hormonal replacement treatment. The level of female hormones fluctuates during menopause. Hence, hormone replacement treatment aids in balancing the hormone levels in females. Hormone replacement therapy also aids in the prevention of osteoporosis and cardiovascular problems in females following menopause. In addition, the risk of many illnesses, such as diabetes and bowel cancer, is decreased with hormone replacement treatment.
In 2021, the hormone replacement therapy market was worth USD 24.97 billion, and by 2030 it will be worth USD 49.25 billion, at a 7.83% CAGR during the forecast period.
Due to key players’ increasing involvement in the development of novel therapies, the market will likely see the release of new products. Also, growing public awareness of illnesses and hormone deficits will also encourage market expansion.
Market Dynamics
Drivers
An increase in the rate of hormone imbalance disorders in the geriatric and neonatal populations primarily drives the expansion of the market. The growing need for novel treatment options with better safety outcomes further drives the demand for hormone replacement therapy (HRT). An appealing market for these treatments is also created by the leading players’ intensive marketing and direct-selling operations and the development of novel gel-based formulations. Also, rising consumer awareness and the availability of formulations that are routinely examined are two other factors promoting the market’s expansion.
Restraints
Women who use hormone replacement therapy are more likely to develop breast cancer. Furthermore, a high dose of hormone replacement therapy may pose a greater risk than a lower disease. Furthermore, using estrogen-only HRT for more than ten years increases the risk of breast cancer. Females who use estrogen-only hormone replacement therapy are more likely to develop ovarian cancer.
Opportunity
One of the best methods for preventing postmenopausal symptoms and lowering the risk of osteoporosis is hormone replacement therapy. The global hormone replacement treatment market’s vendors may have a number of chances for growth as a result of growing public awareness of hormone replacement therapy, particularly in emerging nations.
Market Segmentation
By product
In 2021, the estrogen and progesterone segment had the biggest market share of 53.15%. It is due to the increase in the number of women experiencing menopause. Per the American Congress of Obstetricians and Gynecologists, approximately 6,000 women in the U.S. reach menopause each day.
Because of rising incidence and increasing product penetration, the parathyroid hormone replacement segment will grow the fastest during the forecast period. Hypoparathyroidism affects approximately 70,000 people in the United States, according to the National Organization for Rare Diseases 2021 database.
By Route of Administration
The market is divided into oral, parenteral, transdermal, and other segments on the basis of the route of administration. The oral segment dominated the market in 2021 because it is so easily administered and has a high prescription rate. Tablets and pills are typically included in HRT medicines.
The parenteral segment will expand at a rapid rate. It will grow due to improvements in parenteral drug delivery techniques, increasing patient compliance, and simplifying administration.
By Disease Type
On the basis of disease type, the market is segmented into hypothyroidism, menopause, male hypogonadism, growth hormone insufficiency, and hypoparathyroidism. In 2021, the menopausal category dominated the market. It is due to the rise in the number of women experiencing menopause.
The hypoparathyroidism segment will grow significantly due to an increase in new treatments and product introductions.
Regional Overview
North America ruled the market with a revenue share of nearly 37.54% in 2021. The biggest market share in the area is due to significant product launches, manufacturer collaboration agreements, and benevolent reimbursement policies. For instance, Novo Nordisk A/Sogroya S’s, a medication for HGH replacement therapy, received FDA approval in August 2020. When an adult is diagnosed with a growth hormone shortage, this medication is given subcutaneously once a week.
Key Players
- Bayer Ag.
- Abbott Laboratories
- Hoffmann-La Roche Ltd. (Genentech, Inc.)
- Pfizer Inc.
- Eli Lily And Company
- Novartis International Ag
- Hisamitsu Pharmaceutical Co., Inc. (Noven Pharmaceuticals, Inc.)
- Mylan N.V. (Viatris Inc.)
- Novo Nordisk A/S
In 2021, the hormone replacement therapy market was worth USD 24.97 billion, and by 2030 it will be worth USD 49.25 billion, at a 7.83% CAGR during the forecast period. The hormone replacement therapy (HRT) market is expanding due to factors such as rising target disease incidence and the accessibility of long-acting hGH products.
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