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Hormone Replacement Therapy Market Trends

ID: MRFR//10846-HCR | 128 Pages | Author: Rahul Gotadki| July 2024

Global Hormone Replacement Therapy Market Overview

Hormone Replacement Therapy Market Size valued at USD 21.5 Billion in 2022. The Hormone Replacement Therapy market industry is projected to rise from USD 22.6 Billion in 2023 to USD 34.8 Billion by 2032, exhibiting a compound yearly growth rate (CAGR) of 5.51% during the forecast period (2023 - 2032). Increased health concerns, growing awareness and acceptance of HRT among healthcare professionals and patients, and an aging population are the key market drivers improving the market growth.

Hormone Replacement Therapy Market

Source: The Secondary Research, Primary Research, MRFR Database and Analyst Review

Hormone Replacement Therapy Market Trends

  • Growing awareness and acceptance of HRT among healthcare professionals and patients is driving the market growth

Market CAGR for hormone replacement therapy is being driven by the rising awareness and acceptance of HRT among healthcare professionals and patients. The Ongoing scientific research and advancements in the understanding of hormones and their effects on health have provided a clearer picture of the benefits and risks associated with HRT. Hence, healthcare professionals are better equipped to make informed decisions about when and how to prescribe HRT. They have access to a growing body of evidence that supports the use of HRT in specific cases, such as managing menopausal symptoms, hormone deficiencies, or other related conditions.

Healthcare professionals, including nurse practitioners, physicians, and pharmacists, receive better education and training regarding hormone replacement therapy. This education equips them with the knowledge and skills needed to properly evaluate patients' hormonal needs and prescribe appropriate HRT regimens. Patients are growingly taking an active role in managing their healthcare. They are more likely to research treatment options and discuss them with their healthcare providers. This empowerment has led to greater demand for HRT among individuals who experience hormonal imbalances and seek treatments to enhance their quality of life. Pharmaceutical companies, healthcare organizations, and advocacy groups often run awareness campaigns to educate both healthcare professionals and the general public about the benefits of HRT when used appropriately. These campaigns help dispel myths and misconceptions surrounding HRT and promote its use for appropriate medical indications.

As patients and healthcare providers become more aware of potential alternatives to traditional HRT, such as bioidentical hormones or individualized hormone therapy, it has driven interest and growth in the market. These alternatives may offer more personalized and potentially safer options for patients. Attitudes toward aging and healthcare have evolved. Many individuals are now more proactive about addressing age-related health concerns, including hormonal imbalances. This shift in attitude contributes to the growing acceptance of HRT as a legitimate and effective medical intervention.

Pharmaceutical companies continue to develop and improve hormone replacement therapy formulations, including transdermal patches, gels, and creams, which offer more convenient and precise dosing options. These advancements make HRT more appealing to both healthcare providers and patients. Regulatory bodies in various countries have established guidelines and recommendations for the safe and effective use of HRT. These guidelines gives a framework for healthcare providers to prescribe HRT with confidence, further supporting market growth. Thus driving the Hormone Replacement Therapy market revenue.

Hormone Replacement Therapy Market Segment Insights

Hormone Replacement Therapy Product Insights

The Hormone Replacement Therapy Market segmentation, based on product, includes Estrogen & Progesterone Replacement Therapy, HGH Replacement Therapy, Thyroid Hormone Replacement Therapy and Parathyroid Hormone Replacement. The estrogen & progesterone replacement therapy segment dominated the market, accounting for the largest market revenue, because of the prevalence of menopausal symptoms and the widespread use of these hormones to manage them. Further, thyroid replacement therapy is the second most common product due to the increase in cases of hyperthyroidism.

Hormone Replacement Therapy Route of Administration Insights

The Hormone Replacement Therapy Market segmentation, based on the route of administration, includes Oral, Parenteral, Transdermal and Others. The oral segment dominates the market as many patients prefer taking medications orally because it is a familiar and convenient method. Oral HRT is generally easy to administer and offers the convenience of self-administration, allowing patients to take their medication at home without the need for frequent visits to healthcare facilities. Moreover, prescribing patterns and guidelines may favor oral HRT for certain conditions. Further, the transdermal segment is expected to experience a relatively significant growth during the forecast period due to the introduction of novel gel formation therapies which holds more efficiently without any risk in the treatment.

Hormone Replacement Therapy Disease Type Insights

The Hormone Replacement Therapy Market segmentation, based on disease type, includes Menopause, Hypothyroidism and Male Hypogonadism. The menopause category dominates the market as many women actively seek relief from menopausal symptoms, and HRT is one of the primary treatment options for managing these symptoms. Estrogen and progesterone replacement therapy, as well as other hormone-based therapies, are prescribed to alleviate these discomforts. Women may use HRT for an extended period to manage menopausal symptoms, as these symptoms can persist for several years after menopause. This prolonged use contributes to the demand for HRT products. Further, hypothyroidism is expected to hold the second-largest market revenue due to the increase in the prevalence of thyroid disease.

Figure 1: Hormone Replacement Therapy Market by Disease Type, 2022 & 2032 (USD Billion)

Hormone Replacement Therapy Market by Disease Type, 2022 & 2032 (USD Billion)

Source: The Secondary Research, Primary Research, MRFR Database and Analyst Review

Hormone Replacement Therapy Regional Insights

By region, the study gives market insights into the North America, Europe, Asia-Pacific and the Rest of the World. The North American Hormone Replacement Therapy market area will dominate this market due to a well-established healthcare infrastructure, a high prevalence of menopausal and hormonal imbalance-related conditions, and widespread awareness and acceptance of hormone replacement therapies among both patients and healthcare providers. Additionally, robust research and development efforts, regulatory support, and a competitive landscape with several pharmaceutical companies contribute to the region's dominance in this market.

Further, the major countries studied in the market report are The US, Canada, Germany, France, the UK, Italy, Spain, Japan, India, China, Australia, South Korea, and Brazil.



Source: The Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe's Hormone Replacement Therapy market accounts for the second-largest market share due to a growing aging population, increased awareness about the management of menopausal symptoms, and government healthcare initiatives promoting women's health. Further, the German Hormone Replacement Therapy market held the largest market share, and the UK Hormone Replacement Therapy market was the fastest-growing market in the European region.

The Asia-Pacific Hormone Replacement Therapy Market is expected to grow at the rapid CAGR from 2023 to 2032. This is owing to an aging population, increasing awareness of menopausal and hormonal imbalance issues, and growing healthcare infrastructure in the region. Moreover, China’s Hormone Replacement Therapy market held the largest market share, and the Indian Hormone Replacement Therapy market was the fastest-growing market in the Asia-Pacific region.

Hormone Replacement Therapy Key Market Players & Competitive Insights

Leading market players are investing hugely in research and development in order to expand their product lines, which will help the Hormone Replacement Therapy market grow even more. Market players are also undertaking a variety of strategic activities to spread their global footprint, with important market developments including contractual agreements, new product launches, mergers and acquisitions, higher investments, and collaboration with other organizations. To spread and survive in a more competitive and rising market climate, the Hormone Replacement Therapy industry must offer cost-effective items.

Manufacturing locally to minimize the operational costs is one of the key business tactics used by the manufacturers in the global Hormone Replacement Therapy industry to benefit clients and grow the market sector. In recent years, the Hormone Replacement Therapy industry has offered some of the most significant benefits to the medicine. Major players in the Hormone Replacement Therapy market, including Bayer AG; Pfizer Inc.; Merck & Co., Inc.; Viatris, Inc.; Novo Nordisk A/S; Eli Lilly and Company; F. Hoffmann-La Roche Ltd; Noven Pharmaceuticals, Inc.; ASCEND Therapeutics US, LLC.; AbbVie, Inc., and others, are trying to increase market demand by investing in the research and development operations.

Theramex is a pharmaceutical company specializing in women's health. The company aims on developing, manufacturing, and marketing a range of products and treatments mainly designed to address the health needs of women at different stages of their lives. In April 2023, Theramex was acquired. Theramex may have products and services addressing a range of women's health issues, including fertility, sexual health, and reproductive health. In April 2023, TherapeuticsMD for $1.2 billion. TherapeuticsMD is a women's health company that develops and does the commercialization innovative products for the menopause treatment and other women's health conditions. The acquisition gives Theramex access to TherapeuticsMD's portfolio of HRT products, including Bijuva, a once-weekly oral estrogen and progesterone combination therapy.

Pfizer Inc. is a multinational pharmaceutical company headquartered in New York City, USA. It is one of the largest and most well-known pharmaceutical companies in the world. Pfizer is known for its diverse portfolio of prescription medications, vaccines, and consumer healthcare products. Some of its well-known products include Lipitor (atorvastatin), Viagra (sildenafil), Prevnar 13 (pneumococcal vaccine), and Celebrex (celecoxib). The company invests heavily in research and development, focusing on innovative treatments and therapies for various medical conditions. In January 2023, Pfizer and OPKO Health acquired Somatrogon, a long-acting growth hormone therapy, from Ascendis Pharma. Somatrogon is currently under development for the treatment of growth hormone deficiency (GHD) in adults and children. The acquisition gives Pfizer and OPKO Health a new growth hormone therapy that has the potential to be more convenient and effective than existing therapies.

Key Companies in the Hormone Replacement Therapy market include

  • Bayer AG

  • Pfizer Inc.

  • Merck & Co., Inc.

  • Viatris, Inc.

  • Novo Nordisk A/S

  • Eli Lilly and Company

  • Hoffmann-La Roche Ltd

  • Noven Pharmaceuticals, Inc.

  • ASCEND Therapeutics US, LLC.

  • AbbVie, Inc.

Hormone Replacement Therapy Industry Developments

May 2023:Myovant Sciences and Evofem Biosciences announced a strategic partnership in order to develop and commercialize a new topical HRT product for women with moderate to severe vasomotor symptoms (VMS). The partnership will combine Myovant's expertise in women's health with Evofem's expertise in vaginal products.
March 2023:AbbVie and ObsEva announced a collaboration to develop and commercialize a new HRT product for women with menopause-associated vulvar and vaginal atrophy (VMVA). The collaboration will combine AbbVie's global commercial reach with ObsEva's expertise in women's health.

April 2023:TherapeuticsMD and Theramex entered into a collaboration to develop and commercialize a new oral HRT product for the treatment of menopausal women. The collaboration will combine TherapeuticsMD's expertise in women's health and Theramex's global commercialization capabilities.

Hormone Replacement Therapy Market Segmentation

Hormone Replacement Therapy Product Outlook

  • Estrogen & Progesterone Replacement Therapy

  • HGH Replacement Therapy

  • Thyroid Hormone Replacement Therapy

  • Parathyroid Hormone Replacement

Hormone Replacement Therapy Route of Administration Outlook

  • Oral

  • Parenteral

  • Transdermal

  • Others

Hormone Replacement Therapy Disease Type Outlook

  • Menopause

  • Hypothyroidism

  • Male Hypogonadism

Hormone Replacement Therapy Regional Outlook

  • North America

    • US

    • Canada

  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe

  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Australia

    • Rest of Asia-Pacific

  • Rest of the World

    • Middle East

    • Africa

    • Latin America

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