As per our report, the size of the global hormone replacement therapy market was worth USD 15.75 billion in 2019 and to grow USD 22.31 billion by 2024, showcasing a CAGR of 7.21% during the forecast period.
This hormonal replacement therapy is a medical term used for substituting the natural hormones that are present in the human body with other hormones.
In general, this hormonal replacement takes place in females, especially those who are in menopause stage, which is for restoring the hormones. This HRT used for diseases like cancer, arthritis and also rise in novel drug development. Hormones like estrogen, testosterone and follicle-stimulating hormone are the hormones that can help in the replacement therapy of hormones.
As the elderly population grows, hormonal imbalance is one of the main factors driving the growth of the market. Due to various hormonal changes, the female body is primarily affected by the natural ageing process, leading to abnormalities and illness. Some common problems include weight gain, memory loss, fatigue, decreased libido, the appearance of ageing and loss of muscle.
Drivers & Restrains
The increase in demand for advance medical solutions and changes made in the new lifestyle is boosting up the market growth of HRT. The support that women get from government increases the HRT market growth. Customary approvals like the FDA by introducing different kinds of initiatives for the help of women's health. Increasing knowledge among the women about the HRT also boost up the market. Additionally, factors that have a positive effect on market growth include increased women's awareness of postmenopausal issues, increased drug development due to new drug delivery systems, and an increasing elderly population that leads to hormonal disorders.
Profitable and non-profitable organizations spread awareness by offering treatments of low-cost for low and middle-income people. Increase in elder people population, increase in novel drug development and hormonal disorders also increase the market. The advantages that are related to the HRT that comprises of minimum occurrences of heart diseases, osteoporosis and blood vessels symptoms are fuelling the market growth.
Hormonal replacement therapy shows harmful effects like swelling, bloating, nausea, headache etc. and this attribute hampers the market growth. This replacement may not be appropriate for the patients, who have a past medical history like blood clots, liver disease and patients with high blood pressure. It may also degrade the demand of the market. However, the high cost that is associated with the replacement therapy is restraining the market.
The high cost of these therapies, some side effects, and product shortages due to weak pipelines are some of the factors that are supposed to hinder business growth.
Recent Market Developments
REPORT COVERAGE
|
REPORT METRIC |
DETAILS |
|
Market Size Available |
2018-2024 |
|
Base Year |
2018 |
|
Forecast Period |
2019-2024 |
|
Segments Covered |
By Type, Basis of Route of Administration and Region |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges, PESTLE Analysis, Porter's Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
|
Regions Covered |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
This research report on the Global Hormone Replacement Therapy Market has been segmented and sub-segmented into the following categories and calculated market size and forecast for each segment until 2024.
Hormone Replacement Therapy Market - By Type
Based on type, with a market share of more than 60%, the estrogen replacement therapy segment dominates the market. The Estrogen Replacement Therapy is accounted for more than 50% of the share market. This replacement therapy in which estrogen hormones are commonly used to treat the symptoms seen in women for menopause. This helps to decrease short-term changes of menopause like vaginal dryness, hot flashes and disturbed sleep in women.
Hormone Replacement Therapy Market - By Route of Administration
Based on the route of administration, the oral route of administration segment is regarded to be one of the safest and most preferred routes of drug administration. The Oral Route of Administration segment is accounted for the highest share market. This oral segment is a sub-division of enteral administration.
Regional Analysis
Of these five regions, North America region is likely to dominate the market and this region is expected to maintain its power and influence during the period. This is due to the factors like new methods or products in drug delivering systems, developing new drugs and increase in people population target in this region. Also, increase in common menopause disorders and also rising occurrences of hormone deficiency disorders and also, the awareness among the people related to these therapies is also one of the factors that drive the market.
Asia-Pacific is likely to have highest growth rate in the upcoming years due to the factors like people having awareness about the hormone replacement therapy and in this region countries like China, India and Japan, these countries are expected to have high growth rate during the period.
The Middle East and Africa is likely to have moderate demand due to increasing occurrences of chronic diseases like cancer that require hormone replacement therapy.
North America dominated the market, where the majority of the contribution was from the USA while the market in the APAC region is to witness rapid growth during the forecast period.
Key companies dominating the Global Hormone Replacement Therapy Market profiled in the report are
Leading companies are focusing on collaborations and mergers, which are anticipated over the next seven years to share the cost of technology and innovation in this area.
Pfizer completed the Weiss merger in December 2014, outpacing popular products such as Prempro and Premarin.
1.Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 By Hormone Type
5.1.1 Estrogen Replacement Therapy
5.1.2 Growth Hormone Replacement Therapy
5.1.3 Thyroid Replacement Therapy
5.1.4 Others
5.2 By Route of Administration
5.2.1 Oral
5.2.2 Parenteral
5.2.3 Transdermal
5.2.4 Others
6. Geographical Analysis
6.1 North America
6.1.1 Introduction
6.1.2 United States
6.1.3 Canada
6.2 Europe
6.2.1 Introduction
6.2.2 U.K
6.2.3 Spain
6.2.4 Germany
6.2.5 Italy
6.2.6 France
6.3 Asia-Pacific
6.3.1 Introduction
6.3.2 China
6.3.3 India
6.3.4 Japan
6.3.5 South Korea
6.3.6 Australia
6.4 Latin America
6.4.1 Introduction
6.4.2 Brazil
6.4.3 Argentina
6.4.4 Mexico
6.5 Middle East & Africa
6.5.1 Introduction
6.5.2 Middle-East
6.5.3 Africa
7. Pipeline Product Analysis
7.1 Overview
7.2 Pipeline Development Landscape
7.3 Molecular Targets in the Pipeline
7.4 Clinical Trials
7.4.1 Failure Rate by Stage of Development, Indication, Molecule Type and Molecular Target
7.4.2 Clinical Trial Duration by Stage of Development, Indication, Molecule Type and Molecular Target
7.4.3 Clinical Trial Size by Stage of Development, Indication, Molecule Type and Molecular Target.
8.Strategic Analysis
8.1 PESTLE analysis
8.1.1 Political
8.1.2 Economic
8.1.3 Social
8.1.4 Technological
8.1.5 Legal
8.1.6 Environmental
8.2 Porter’s Five analysis
8.2.1 Bargaining Power of Suppliers
8.2.2 Bargaining Power of Consumers
8.2.3 Threat of New Entrants
8.2.4 Threat of Substitute Products and Services
8.2.5 Competitive Rivalry within the Industry
9.Market Leaders' Analysis
9.1 Abbott Laboratories
9.1.1 Overview
9.1.2 Product Analysis
9.1.3 Financial analysis
9.1.4 Recent Developments
9.1.5 SWOT analysis
9.1.6 Analyst View
9.2 Novartis
9.3 Pfizer
9.4 Mylan Laboratories
9.5 Amgen
9.6 Merck & Co.
9.7 Bayer
9.8 Eli Lily & Company
9.9 Novo Nordisk
9.10 Wyeth
9.11 F. Hoffmann-La Roche
9.12 Hisamitsu Pharmaceutical Co. Inc.
10.Competitive Landscape
10.1 Market share analysis
10.2 Merger and Acquisition Analysis
10.3 Agreements, collaborations and Joint Ventures
10.4 New Product Launches
11.Expert Opinions
11.1 Market Outlook
11.2 Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
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