The global hormone replacement therapy market size was worth USD 16.89 billion in 2021 and to grow USD 23.92 billion by 2026, showcasing a CAGR of 7.21% during the forecast period.
Hormonal replacement therapy is a medical term used to substitute the natural hormones present in the human body with other hormones. Hormone replacement therapy (HRT) is the latest technological roadmap that targets the hormonal imbalance in people. This process involves the stimulation or induction of hormones like estrogen, thyroid-stimulating hormone (TSH), testosterone, etc.
MARKET DRIVERS:
The rising geriatric population and behavioral changes are majorly driving the global hormone replacement therapy market growth.
As People age is increasing, their health concerns increase, resulting in chronic illness in the population. So as to reduce the impact of diseases, hormonal balance is necessary. In the case of lactating women, hormones like progesterone and estrogen play a vital role due to the behavioral changes in women’s lifestyle; there is a huge demand for hormone therapy in pre and post-pregnancy and lactating periods, respectively. Apart from these aspects, increased expenditure on R&D and people's consciousness for health are also the aspects that are driving the global hormone replacement therapy market for further expansion.
There are many opportunities for the HRT process; due to the people's behavioral aspects, there is a lot of scope for global hormone replacement therapy market expansion. Many Non-curable diseases are now days addressed with Hormone therapy techniques. Particularly in the case of women experiencing menopause in the very early stage, like in the mid-40s are stating their interest in exploring the HR therapies for estrogen and progesterone therapies. Impotent males and people who have the medical illness are tilting towards these kinds of safe hormone replacement therapies. The market is currently valued at around USD 17,800 million and is expected to reach USD 29.685 million by 2027, with an annual CAGR of 7.2% over the forecast period. Increased investments in developing countries for such advanced therapies provide a big opportunity for the market players to expand and capture the segment in those countries.
MARKET RESTRAINTS:
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 the global hormone replacement therapy market growth.
Generally, harmonic imbalances are quite natural in people who do not maintain a proper lifestyle, so correcting those imbalances is a tedious task and requires a lot of effort both behaviorally and financially. So, it is a barrier for the market. Regulatory approvals for these kinds of therapies are much complex and cannot be obtained easily. As these kinds of therapies are highly advanced, less developed countries lack awareness and cannot afford to invest in these kinds of research. Less penetration and lack of prominent players in major markets like APAC are barriers to the global hormone replacement therapy market expansion.
In Hormone replacement therapies process is involved where there is a disease that is involved with hormonal imbalance. As the adjoining cells should not be disturbed, the therapy involves targeting particular cells. So, this makes Hormone replacement therapy costlier. Also, HRTs make the patients more exposed to risks from cancer and cell disorders. Apart from all the above-stated factors getting regulatory approvals for the HRTs either for clinical research or application is quite challenging in nature.
COVID-19 Impact on the global hormone replacement therapy market:
The COVID-19 pandemic has disrupted the market initially due to the supply chain and demand-side disruptions. But the players in the market had opened up the market to new avenues. There is ongoing research to apply the HRTs in treating the covid 19 infected patients. There are some findings that the recovery and survival rates in post-menopausal women are high. So, scientists are relating the effect of estrogen in inhibiting the virulence caused by the covid 19. There are also ongoing clinical trials to infuse estradiol to increase the immunity in the women patients to reduce the infection caused by covid 19. Not only estradiol but also many other hormone replacement therapies are being researched clinically to cure the covid 19 infected patients.
REPORT COVERAGE:
|
REPORT METRIC |
DETAILS |
|
Market Size Available |
2021 to 2026 |
|
Base Year |
2020 |
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Forecast Period |
2021 to 2026 |
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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 |
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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 2026.
Hormone Replacement Therapy Market - By Type:
Based on type, with a market share of more than 60%, the estrogenic replacement therapy segment dominates the market. Estrogenic Replacement Therapy is accounted for more than 50% of the share market. This replacement therapy in which estrogenic 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 the 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.
Hormone Replacement Therapy Market – By Region:
Geographically, the North American region is likely to dominate the global market during the forecast period due to the factors such as new methods or products in drug delivery systems, developing new drugs, and increase in target people population. Also, the growing incidence of menopause disorders, the rising prevalence of hormone deficiency disorders, and the awareness among the people related to these therapies further drive the North American regional market.
The Asia-Pacific market is likely to register the highest growth rate over the forecast period due to the factors such as awareness among people regarding hormone replacement therapy in APAC countries such as China, India, and Japan.
The Middle East and Africa are likely to have moderate demand due to increasing occurrences of chronic diseases like cancer that require hormone replacement therapy.
KEY MARKET PARTICIPANTS:
Some of the prominent companies operating in the global hormone replacement therapy market profiled in the report are Abbott Laboratories, Novartis, Pfizer, Mylan Laboratories, Amgen, Merck & Co, Bayer, Eli Lily, Novo Nordisk, Wyeth, F. Hoffmann-La Roche, and Hisamitsu Pharmaceutical Co. Inc.
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.
RECENT MARKET DEVELOPMENTS:
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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