The Increasing Prevalence of Hormone-Related Issues in the World Is Driving the Growth of the Global Hormone Replacement Therapy Market

Hormone Replacement Therapy Market

Hormone Replacement Therapy Market, by Therapy Type (Estrogen Replacement Therapy, Human Growth Hormone (HGH) Replacement Therapy, Thyroid Replacement Therapy, and Testosterone Replacement Therapy), by Route of Administration (Oral, Parenteral, and Others), by Application (Hypothyroidism, Male Hypogonadism, Growth Hormone Deficiency, Menopause, and Others), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)- Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030.

Market Overview:

Hormone replacement therapy (HRT) is a medical treatment that involves the use of hormones to supplement or replace the body's natural hormone levels. It is primarily used to alleviate symptoms caused by hormonal imbalances, particularly during menopause or the menopausal transition in women.

Competitive Landscape:

Major players operating in the global hormone replacement therapy market include Amgen, Mithra Pharmaceuticals, Eli Lilly and Company, Allergan plc, Endo International plc, Merck KGaA, AbbVie’s, Pfizer Inc., and Novo Nordisk A/S.

The According to Hormone Replacement Therapy Market is estimated to be valued at US$ 13,556.7 million in 2022 and is expected to exhibit a CAGR of 5.4% during the forecast period (2022-2030).

Key Market Drivers:

The global population is experiencing a demographic shift with a larger proportion of the population entering the menopausal age group. This rising aging population is contributing to the increased demand for hormone replacement therapy as it helps manage menopausal symptoms. This is expected to augment the growth of the global hormone replacement therapy market.

There is a growing awareness among women about the benefits of hormone replacement therapy in managing menopausal symptoms, such as hot flashes, night sweats, and mood swings. The increasing acceptance of HRT as a viable treatment option is propelling market growth.

Advancements in hormone delivery methods, such as transdermal patches, gels, and implants, have improved the convenience and effectiveness of hormone replacement therapy. These technological advancements are estimated to enhance the growth of the global hormone replacement therapy market. For instance, in May 2021, Myovant Sciences GmbH received the approval of the United States Food and Drug Administration, for Myfembree, which is a hormone therapy used for treating uterine fibroid bleeding.

Hormonal disorders, such as hypogonadism and thyroid disorders, are on the rise globally. Hormone replacement therapy plays a crucial role in managing these disorders, leading to an increased demand for HRT products and services.

Covid-19 Impact Analysis:

The COVID-19 pandemic has increased the focus on overall health and wellness, including the management of menopausal symptoms. As a result, there has been a heightened interest in hormone replacement therapy as a solution for symptom relief, contributing to the growth of the global hormone replacement therapy market.  For instance, in October 2020, OPKO Health Inc. and Pfizer Inc. announced there have been positive results in the Phase III clinical trial related to their investigational long-acting hormone.

Key Takeaways:

North America is expected to dominate the growth of the global hormone replacement therapy market, owing to the large aging population, high awareness about menopausal health, and access to advanced healthcare facilities. The United States is a key contributor to market growth in this region. For instance, according to the American Biotechnology Association, there are currently around 3429 biotech businesses in the United States.

Europe is estimated to witness high growth in the global Hormone Replacement Therapy Market, owing to the substantial aging population, increasing healthcare expenditure, and supportive government policies. Countries like Germany, France, and the United Kingdom contribute significantly to market growth. For instance, in April 2021, Theramex and TherapeuticsMD, Inc. received approval from the Federal Agency of Medicines and Health Products (FAMHP) and the Medicines and Healthcare Products Regulatory Agency (MHRA) for its BIJUVE in the U.K. market.