USD 24.97 billion
Report ID: SQMIG35F2010 | Region: Global | Published Date: February, 2024 | Pages: 165 | Tables: 92 | Figures: 77
Hormone Replacement Therapy (HRT) Market size was valued at USD 24.97 billion in 2021 and is poised to grow from USD 26.87 billion in 2022 to USD 49.25 billion by 2030, growing at a CAGR of 7.83% in the forecast period (2023-2030).
Hormone replacement therapy has been successfully utilized for many years to treat menopause-related illnesses in women. As a result, hot flashes, osteoporosis risks, and other menopause symptoms have decreased as well. These treatments are also fueling the market's expansion due to the rise in other hormone-related illnesses targeted at various age groups that impact both women and men. As a result, during the forecast period, diseases such thyroid disorders, growth deficiencies, and others are also expected to accelerate market expansion globally.
The availability of long-acting hGH products and factors including the increased prevalence of target diseases are driving the expansion of the hormone replacement therapy (HRT) market. The American Thyroid Association estimates that 12% of Americans will experience thyroid disease at some point in their lives. Additionally, it stated that about 20 million Americans suffer from thyroid disease. Numerous investigations revealed that individuals receiving HRT treatment probably had a low risk of COVID-19 infection and mortality.
US Hormone Replacement Therapy (HRT) Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 24.97 billion
growth hormone replacement therapy
growth hormone replacement therapy
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Global hormone replacement therapy (HRT) market is segmented based on therapy type, indication and region. Based on therapy type, the market is segmented into estrogen & combinations replacement therapy, thyroid hormone replacement therapy, growth hormone replacement therapy, testosterone hormone replacement therapy segments. On the basis of indication, the market can be bifurcated into menopause, hypothyroidism, male hypogonadism, growth hormone deficiency segments. Based on the route of administration, the market is segregated into oral, transdermal and parenteral route segments. The regional insights of the market are into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa.
Hormone Replacement Therapy (HRT) Market Analysis by Therapy Type
The increased adoption of these better therapies, the availability of these medications in a variety of formulations, and the increased awareness of menopause symptoms around the world, Estrogen and combined hormone replacement therapy have dominated the market expansion. During the foreseeable period, growth hormone replacement therapy is anticipated to support a significant CAGR. Growing demand for growth hormone therapies, which are safe and effective in comparison with low risks such as fluid retention, peripheral edema, carpal tunnel syndrome, glucose intolerance, and others, is due to an increase in the prevalence of growth hormone deficiencies in important nations. Additionally, this therapy segment's medications generate higher market revenues.
Hormone Replacement Therapy (HRT) Market Analysis by Route of Administration
Due to the launch of innovative gel formation therapies that hold more effectively without any risk in the treatment, the transdermal segment is predicted to experience a comparatively high CAGR throughout the forecast period. For instance, Gedeon Richter reported that it has begun selling Lenzetto (a transdermal spray containing estradiol) in the United Kingdom. The spray is used to treat and manage the symptoms of oestrogen insufficiency in postmenopausal women. During the forecast period, the parenteral segment is anticipated to have the lowest CAGR.
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The region with the largest market share is Asia Pacific, which is expected to hold the position over the forecast period. This is related to the fact that the region is home to major consumers like China and India. Reliance Industries Limited reports that the demand for PE increased by 4%. Growing demand from sectors like packaging and infrastructure & construction is what's fueling market expansion in this nation.
The second-largest portion of the global market was accounted for by Europe. Growing demand from automotive industry for this polymer is anticipated to add to the high market revenue in the region. Due to its qualities including electric insulation, corrosion inhibition, strong heat resistance, and low density, Polyethylene (PE) is the most desired polymer among the several others used in Europe.
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Hormone Replacement Therapy (HRT) Market Driver
Hormone Replacement Therapy (HRT) Market Restraint
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Due to their extensive global product portfolios, Novo Nordisk A/S and Pfizer Inc. are the primary players currently leading this market. Due to the success of its well-known pharmaceutical product, Norditropin, Novo Nordisk dominates the market in terms of revenue. During the projected period, it is estimated that significant product upscaling will fuel the market's expansion.
Top Players in the Global Hormone Replacement Therapy Market
Hormone Replacement Therapy (HRT) Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, the global hormone replacement therapy (HRT) market is segmented based on therapy type, indication, route of administration, and region. The increased adoption of these better therapies, the availability of these medications in a variety of formulations, and the increased awareness of menopause symptoms around the world, Estrogen and combined hormone replacement therapy have dominated the market expansion. Due to the launch of innovative gel formation therapies that hold more effectively without any risk in the treatment, the transdermal segment is predicted to experience a comparatively high CAGR throughout the forecast period. The region with the largest market share is Asia Pacific, which is expected to hold the position for the duration of the forecast.
|Market size value in 2021
|USD 24.97 billion
|Market size value in 2030
|USD 49.25 billion
|Forecast Unit (Value)
|North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Hormone Replacement Therapy (HRT) Market Recent Developments
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Hormone Replacement Therapy (HRT) Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Hormone Replacement Therapy (HRT) Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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