According to the recent report by IMARC Group, titled “Hormone Replacement Therapy Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” offers a comprehensive analysis of the industry, which comprises insights on hormone replacement therapy market analysis. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global hormone replacement therapy market size reached US$ 8.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 12.4 Billion by 2028, exhibiting a growth rate (CAGR) of 6.26% during 2023-2028.
Hormone replacement therapy (HRT) is utilized for replenishing the hormones that are present in low levels in the human body. This treatment is particularly favorable for women nearing menopause, patients with growth hormone deficiency, and geriatric people suffering from hypogonadism. HRT is available in several forms, including gels, injections, skin and mouth patches (transdermal), and implants. However, this therapy may not be suitable for patients who have a history of liver disease, blood clots, and untreated high blood pressure. As HRT is considered an efficacious treatment, patients prefer it over chemical drugs or herbal medicines. However, this treatment may also include some adverse effects, such as swelling, nausea, leg cramps, bloating, headaches, indigestion, increased cholesterol levels, and a rise in the number of red blood cells.
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Market Trends:
The escalating cases of imbalance disorders in the neonatal and geriatric populations across the globe are among the primary factors driving the hormone replacement therapy market. Besides this, the elevating requirement for new treatment options with adequate safety results, the aggressive marketing and direct selling campaigns by the leading players, and the development of innovative gel-based formulations are further augmenting the market growth. Moreover, the increasing awareness among menopausal women toward the benefits of HRT and the presence of regularly monitored formulations are also catalyzing the global market. Apart from this, the introduction of the latest drug delivery systems, including vaginal estrogen medicines and estrogen patches is acting as another significant growth-inducing factor. Furthermore, the rising cases of hypogonadism, owing to poor health and obesity, are expected to bolster the hormone replacement therapy market in the coming years.
The major drivers of the Hormone Replacement Therapy market include an increase in the prevalence of menopausal symptoms, rising awareness about the benefits of HRT, and an increase in the number of women who are opting for HRT. In addition, the growing number of aging populations, the increasing prevalence of hormonal imbalances, and the rising prevalence of chronic diseases are also contributing to the growth of the market.
In conclusion, the Hormone Replacement Therapy market is a growing market that is driven by an increase in the aging population, rising awareness about the benefits of HRT, and an increase in the number of women who are opting for HRT. However, the market is also facing some challenges, such as the risk of side effects associated with HRT and the high cost of HRT. Despite these challenges, the market is expected to grow significantly over the next few years, driven by the growing demand for HRT in emerging economies and the development of new and innovative HRT products.
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- Abbott Laboratories
- Bayer AG
- Eli Lilly & Company
- Roche
- Hisamitsu Pharmaceutical Co. Inc.
- Merck
- Mylan
- Novartis
- Novo Nordisk
- Pfizer
Hormone Replacement Therapy Market Segmentation:
Our report has categorized the market based on region, product, route of administration and type of disease.
Breakup by Product:
- Estrogen Replacement Therapy
- Human Growth Hormone Replacement Therapy
- Thyroid Replacement Therapy
- Testosterone Replacement Therapy
- Others
Breakup by Route of Administration:
- Oral
- Parenteral
- Transdermal
Breakup by Type of Disease:
- Menopause
- Hypothyroidism
- Male Hypogonadism
- Growth Hormone Deficiency
- Others
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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