Pune, July 12, 2024 (GLOBE NEWSWIRE) -- Hormone Replacement Therapy Market Analysis:
“According to SNS Insider Research, The Hormone Replacement Therapy Market size is valued at US$ 21.97 Billion in 2023 and is anticipated to surpass USS 39.14 Billion, with a compound annual growth rate (CAGR) of 6.97% over the forecast period 2024-2032.”
The hormone replacement therapy (HRT) market is driven by factors such as the increasing prevalence of target diseases, along with the rising availability of long-acting hGH products. The American Thyroid Association estimates about 12.0% of the population in the United States would have thyroid disease in some form throughout their lives.
The majority of companies are joining the race to develop novel treatments, which is the reason why we're seeing new medical products launched so often. As an example, this included the European Commission granting marketing authorization to Ascendis Pharma for SKYTROFA in January 2022, which is indicated as a treatment for children and adolescents with growth hormone disorders. The product is the first weekly treatment for growth hormone deficiency in children and adolescents.
Hence, all these factors are skyrocketing the growth of the hormone replacement therapy market.
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Major Players Analysis Listed in this Report are:
- ASCEND Therapeutics US, LLC
- Eli Lilly and Company
- Viatris, Inc.
- Pfizer Inc.
- Bayer AG
- Novo Nordisk A/S
- Merck & Co., Inc.
- F. Hoffmann-La Roche Ltd.
- AbbVie, Inc.
- Other Players
Hormone Replacement Therapy Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | US$ 21.97 Billion |
| Market Size by 2032 | US$ 39.14 Billion |
| CAGR | CAGR of 6.97% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
| Key Growth Drivers | •Raising Awareness of Post-Menopausal Complications Amongst Women is Fuelling the Demand for Hormone Replacement Therapy Market. •The Rising Geriatric Population Led to Hormonal Imbalance Disorders Raising the Demand for Hormone Replacement Therapy Which is Boosting Market Growth. |
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Segmentation Dynamics
In 2023, Based on product, the estrogen and progesterone replacement therapy segment held a maximum market share of 54.55%. The dominance was explained by an increase in the number of women experiencing menopause. The American Congress of Obstetricians and Gynaecologists reports that daily, some 6,000 women in the U.S. go into menopause.
The parathyroid hormone replacement segment, by product, is expected to reach the fastest CAGR during the forecast period due to increasing incidence as well as rising product penetration. Approximately 70,000 people in the US have hypoparathyroidism according to a National Organization for Rare Disease database as of 2021. Only one product is approved in the Parathyroid hormone segment, i.e. Natpara.
Based on route type, the parenteral segment is estimated to grow lucratively from 2024-2032. The introduction of parenteral modes such as pen-based drug delivery is expected to improve patient compliance and ease of administration for the segment.
“The Availability of long-acting human growth hormone (hGH) products Around the World has Propelled the Hormone Replacement Therapy Market.”
Major Segments and Sub-Segments Listed in this Report are:
By Route of Administration
- Oral
- Parenteral
- Transdermal
- Others
By Disease Type
- Menopause
- Hypothyroidism
- Male hypogonadism
- Growth hormone deficiency
- Hypoparathyroidism
By Product
- Estrogen & Progesterone Replacement Therapy
- HGH replacement therapy
- Thyroid hormone replacement therapy
- Testosterone Replacement Therapy
- Parathyroid Hormone Replacement
Regional Analysis
North America was the largest market in 2023 in global hormone replacement therapy accounting for 40% as due to major product launches, inking of collaborative agreements between manufacturers, and favorable reimbursement policies which account for the highest market share from this region. For example, in August 2020 US FDA approved Sogroya (somapacitan-beco), which is the recombinant form of human growth hormone for HGH replacement therapy developed by Novo Nordisk A/S that hails it as a once-weekly treatment given subcutaneously to adults with GHD.
Asia Pacific is projected to be the fastest-growing region during the forecast period According to a report in the May 2022 Journal of The North American Menopause Society, vasomotor symptoms that are associated with menopausal transition have been experienced by 43%-83% of women living in East Asia. Consequently, an increasing number of women who are approaching menopause is anticipated to boost the demand for hormone replacement therapy in APAC.
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Recent Developments
- In November 2021, I-MAB Biopharma Co., Ltd. signed a collaboration agreement with Jumpcan Pharmaceutical Group for the development & commercialization of eftansomatropin alfa (TJ101) within China; - TJ101 is a candidate for treatment in pediatric growth hormone deficiency, and it has been entered into phase 3 development as long-acting recombinant human GH. The tie-up will fortify the company's position in hormone replacement therapy range, it added.
- In February 2023, Korea’s Ministry of Food and Drug Safety approved NGENLA from Pfizer for growth hormone deficiency.
Table of Contents – Major key Points
1. Introduction
2. Industry Flowchart
3. Research Methodology
4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges
5. Porter’s 5 Forces Model
6. Pest Analysis
7. Hormone Replacement Therapy Market Segmentation, By Product
8. Hormone Replacement Therapy Market Segmentation, By Route of Administration
9. Hormone Replacement Therapy Market Segmentation, By Disease Type
10. Regional Analysis
11. Company Profiles
12. Competitive Landscape
13. Use Case and Best Practices
14. Conclusion
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