Pune, India, April 13, 2023 (GLOBE NEWSWIRE) -- The global hormone replacement therapy market size was USD 13.40 billion in 2020. The market is projected to grow from USD 14.17 billion in 2021 to USD 21.49 billion in 2028 at a CAGR of 6.1% in the 2021-2028 period. The market's growth is being driven by several key factors, including a rise in hormonal deficiencies, the introduction of new products, strong research and development efforts resulting in innovative drugs, and the creation of advanced delivery devicesTop of Form. This information is provided by Fortune Business Insights, in its report titled, “Hormone Replacement Therapy Market, 2021-2028.”
Key Industry Development:
May 2021: Myovant Sciences GmbH declared that it gained sanction from the U.S. FDA for hormone therapy Myfembree as a treatment for uterine fibroid bleeding. The drug unveiled by Myovant is set to give uninterrupted competition to Abbvie with an extra dosing benefit.
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Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2021 to 2028 |
| Forecast Period 2021 to 2028 CAGR | 6.1% |
| 2028 Value Projection | USD 21.49 Billion |
| Base Year | 2020 |
| Hormone Replacement Therapy Market Size in 2020 | USD 13.40 Billion |
| Historical Data for | 2017 to 2019 |
| No. of Pages | 138 |
Key Takeaways
- Market is experiencing significant growth due to advanced drug delivery systems and hormone therapies.
- The market growth will be driven by the increasing prevalence of various hormonal disorders.
- The dominance in market growth was by estrogen and combination hormone replacement therapy.
- North America's market size was USD 7.07 billion in 2020, and it's expected to dominate globally.
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Drivers and Restraints:
Unveiling of Radical Drug Delivery Systems with Spurred Efficiency to Drive Market Growth
Hormone replacement therapy is vital for patients with growth hormone scarcities, women experiencing menopausal conditions, elderly population having hypogonadism, and other patients. The treatment is obtainable in several forms, which involve skin and buccal patches, injectable, and tablets, and others.
Attributed to the increase in implementation of these products across the world, numerous manufacturers are emphasizing on the development of the progressive drug delivery systems such as vaginal estrogen drugs as well as transdermal estrogen patches. This is expected to bolster the hormone replacement therapy market growth.
Segments:
Therapy Type, Indication, Route of Administration, Distribution Channel, and Region are studied for the Market
On the basis of therapy type, the market is segregated into estrogen and combination replacement therapy, growth hormone replacement therapy, thyroid hormone replacement therapy, and testosterone hormone replacement therapy. Estrogen and combinations hormone replacement therapy led the market growth, owing to augmentation in the consciousness linked with menopause symptoms across the world.
Based on indication, the market is classified into menopause, hypothyroidism, male hypogonadism, and growth hormone deficiency.
On the basis of route of administration, the hormone replacement market is categorized into oral, transdermal, and parenteral.
In terms of distribution channel, the market is segmented into hospital pharmacies, retail pharmacies & stores, and online pharmacies.
Geographically, the global market is branched into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
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Report Coverage:
The report offers a holistic evaluation of the hormone replacement therapy market along with present trends and forthcoming expectations to launch approximate investment profits. Moreover, a detailed examination of any forthcoming opportunities, threats, competitions or driving aspects is also conversed in the report. Step by step, methodical regional review is offered in the report.
COVID-19 influences have been added to the report to aid investors and business owners to perceive an amplified knowledge of the existing threats. The key players in the market are distinguished, and their tactics to bolster the market growth are mentioned in the report.
Regional Insights:
The market in North America was worth USD 7.07 billion in 2020 and held the maximum hormone replacement therapy market share. Moreover, the market is anticipated to lead the global market, owing to an increase in the occurrence of menopause and growth hormone scarcity illnesses.
Europe is the second dominant region, owing to an escalation in the hormonal conditions in women experiencing menopausal symptoms, older people undergoing hypothyroidism, and increase in growth hormone ailments.
Asia Pacific is projected to appear as one of the biggest suppliers of the product coupled with the highest CAGR in future.
Competitive Landscape:
Principal Companies to Grasp Effective Tactics and Expand their Market Presence
Medical companies operate fundamentally on the importance of the product and its demand in the market. Additionally, to uplift their market size & share, and to attain a competitive benefit, numerous dominating players are engaged in several tactical deals to promote the brand and elevate their sales.
List of Key Players Mentioned in the Report:
- Novo Nordisk A/S (Bagsværd, Denmark)
- Pfizer Inc. (New York, U.S.)
- AbbVie’s (Lake Bluff, U.S.)
- Merck KGaA (Dermstadt, Germany)
- Endo International plc (Dublin, Ireland)
- Allergan plc (Irvine, U.S.)
- Eli Lilly and Company (Indianapolis, U.S.)
- Mithra Pharmaceuticals (Liege, Belgium)
- Amgen (Thousand Oaks, U.S.)
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Major Table of Contents:
- North America Hormone Replacement Therapy Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Therapy Type
- Estrogen and Combinations Replacement Therapy
- Thyroid Hormone Replacement Therapy
- Growth Hormone Replacement Therapy
- Testosterone Hormone Replacement Therapy
- Market Analysis, Insights and Forecast – By Indication
- Menopause
- Hypothyroidism
- Male hypogonadism
- Growth hormone deficiency
- Market Analysis, Insights and Forecast – By Route of Administration
- Oral
- Transdermal
- Parenteral
- Market Analysis, Insights and Forecast – By Distribution Channel
- Hospitals Pharmacies
- Retail Pharmacies & Stores
- Online Pharmacies
- Market Analysis, Insights and Forecast – By Country
- U.S.
- By Therapy Type
- Estrogen and Combinations Replacement Therapy
- Thyroid Hormone Replacement Therapy
- Growth Hormone Replacement Therapy
- Testosterone Hormone Replacement Therapy
- By Therapy Type
- U.S.
-
-
- Canada
-
-
-
-
- By Therapy Type
- Estrogen and Combinations Replacement Therapy
- Thyroid Hormone Replacement Therapy
- Growth Hormone Replacement Therapy
- Testosterone Hormone Replacement Therapy
- By Therapy Type
-
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- Europe Hormone Replacement Therapy Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Therapy Type
- Estrogen and Combinations Replacement Therapy
- Thyroid Hormone Replacement Therapy
- Growth Hormone Replacement Therapy
- Testosterone Hormone Replacement Therapy
- Market Analysis, Insights and Forecast – By Indication
- Menopause
- Hypothyroidism
- Male hypogonadism
- Growth hormone deficiency
- Market Analysis, Insights and Forecast – By Route of Administration
- Oral
- Transdermal
- Parenteral
- Market Analysis, Insights and Forecast – By Distribution Channel
- Hospitals Pharmacies
- Retail Pharmacies & Stores
- Online Pharmacies
TOC Continued…!
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Injectable Reproductive Hormone Market Size, Share, Revenue Forecast and Opportunities
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