Dublin, May 24, 2024 (GLOBE NEWSWIRE) -- The "Global Hormone Replacement Therapy Market, Size, Forecast 2024-2032, Industry Trends, Share, Growth, Insight, Impact of Inflation, Top Companies Analysis" report has been added to ResearchAndMarkets.com's offering.
The global Hormone Replacement Therapy (HRT) market is experiencing significant growth, with an estimated value of US$ 20.91 Billion in 2023. A consistent compound annual growth rate (CAGR) of 6.18% is forecasted from 2024 to 2032, culminating in a market size of US$ 35.86 Billion by the end of the forecast period. This expansion is predominantly driven by an aging population, rising prevalence of menopausal symptoms, increased awareness, and advancements in hormone replacement products and therapies.
Women worldwide are increasingly experiencing menopausal symptoms and hormonal imbalances, compelling a growing need for effective HRT. The demand for HRT is bolstered by the projected worldwide population growth, indicating a substantial future market for hormone therapies. As reported by the NHSBSA Statistics and Data Science, England has seen a significant increase in prescribed HRT items, demonstrating the rising prominence of hormone replacement therapy in healthcare regimes.
Advancements and Trends
Continuous research and development, coupled with product approvals such as Ascendis Pharma A/S's SKYTROFA, are anticipated to further propel the hormone therapy market's growth. The increasing awareness of menopausal challenges in economies such as China and India is steadily translating into heightened market activity. Further, the surge in hormonal disorders is creating opportunities for market expansion, as effective treatments for symptoms like mood swings and reduced libido are sought after.
United States Market Analysis
The United States holds the leading position in the Hormone Replacement Therapy market, supported by an increase in therapy utilization among the target demographic and the continuous introduction of innovative drug delivery technologies. A significant portion of post-menopausal women in the US have utilized HRT, according to NIH. With a substantive patient population affected by conditions such as thyroid hormone imbalances, the market is set to maintain its robust growth trajectory.
Key Companies in the Market
The competitive landscape of the global Hormone Replacement Therapy market features key players including Abbott Laboratories, Bayer AG, Eli Lilly & Company, Novartis AG, Novo Nordisk A/S, Pfizer Inc., Abbvie Inc. (Allergan plc), Teva Pharmaceutical Industries Ltd, and Dr. Reddy’s Laboratories Ltd. Recent developments such as FDA approvals and strategic partnerships accentuate these companies' commitment to meeting the growing demand for advanced HRT solutions.
Segments and Regional Insights
The global Hormone Replacement Therapy market encompasses various product types, disease types, routes of administration, and distribution channels. The market analysis includes segments like estrogen, human growth hormone, thyroid hormone, testosterone hormone, and progestogen replacement therapies. Additionally, the market explores different disease types and administrative routes along with distribution via hospital pharmacies, retail stores, and online pharmacies. The comprehensive market division also offers a granular view of HRT adoption patterns across a global spectrum covering North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
The insights presented reflect the growing significance of Hormone Replacement Therapy and illustrate the market's future outlook in relation to demographic shifts, scientific advancements, and healthcare awareness. The global interest in achieving enhanced quality of life post-menopause and managing hormonal disorders underlines the importance of HRT, ensuring its relevance and expansion in the coming years.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 230 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value (USD) in 2023 | $20.91 Billion |
| Forecasted Market Value (USD) by 2032 | $35.86 Billion |
| Compound Annual Growth Rate | 6.1% |
| Regions Covered | Global |
Companies Featured
- Abbott Laboratories
- Bayer AG
- Eli Lilly & Company
- Novartis AG
- Novo Nordisk A/S
- Pfizer Inc.
- Abbvie Inc. (Allergan plc)
- Teva Pharmaceutical Industries Ltd
- Dr. Reddy’s Laboratories Ltd
For more information about this report visit https://www.researchandmarkets.com/r/8cg2rs
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