The size of the North American hormone replacement therapy market is estimated to be worth USD 10.95 billion by 2028 from USD 7.76 billion in 2023, growing at a CAGR of 7.12% from 2023 to 2028.
The growing incidence of menopause among the women population of the North American region is one of the key factors propelling the North American HRT market growth. Approximately one million women in the U.S. experience menopausal symptoms every year. Menopause is a physiological condition characterized by the absence of menstrual periods for 12 consecutive months, resulting in various bodily changes, including hormonal imbalances and mood swings. It is primarily observed among women between the ages of 45 to 55 years.
The growing awareness among women about the benefits of hormone replacement therapies in North America further fuels regional market growth. With increasing literacy rates, women are becoming more informed about menopause conditions and taking proactive measures to prevent adverse outcomes. Hormonal replacement therapies have emerged as an effective solution for managing hormonal imbalances during menopause. Consequently, the demand for such therapies is expected to rise as women seek to manage their hormonal levels and maintain their well-being.
In addition, factors such as increasing number of advancements in HRT treatment development, rising adoption of HRT treatment, growing geriatric population, rising disposable income, increasing healthcare expenditure, growing demand for hormone-based therapies, the emergence of novel drug delivery technologies and an increasing number of women entering menopause contributes to the growth of the HRT market in North America.
Furthermore, rising emphasis on women's health, increasing efforts by the market participants to develop customized hormone replacement therapies, growing number of government initiatives and funding, rising availability of over-the-counter HRT products and advancements in pharmaceutical manufacturing processes favor the hormone replacement therapy market in North America. The growing number of clinical trials, rising demand for non-oral HRT products, increasing demand for bio-identical hormones, growing number of men opting for HRT and rising prevalence of hormone-related disorders support the growth rate of the North American market.
The high cost of the treatment and lack of awareness of hormone replacement therapy among the North American population primarily hamper the market growth. Side effects of hormone replacement therapy such as bloating, breast swelling, weight gain, feeling sick, leg pains, headache, indigestion, vaginal bleeding and back pain are affecting the adoption of these therapies and resulting negatively on the regional market growth. Furthermore, the lack of skilled professionals, the stringent regulatory environment for HRT therapies and the lack of proper infrastructure hinder the regional market growth.
This research report on the North America Hormone Replacement Therapy Market has been segmented and sub-segmented into the following categories:
By Hormone Type:
By Route of Administration:
The North American region accounted for the largest share of the global market in 2022 and is estimated to continue its domination throughout the forecast period. Factors such as the rising adoption of advanced medical devices for various treatments, increasing support from the governments of North American countries and rising healthcare expenditures by the population contribute to the regional market.
From this region, the U.S. captured the leading share of the North American market in 2022 and is expected to grow promisingly during the forecast period. Factors such as an increasing number of product launches, growing awareness among women about the benefits of HRT and the rising prevalence of menopausal symptoms primarily boost the U.S. market growth. According to the American College of Obstetrics and Gynaecology, hormonal replacement therapy is approved for people older than 65 years of age for optimal results. Healthcare providers in the country also use hormonal therapy for cancer treatment in women, primarily for breast cancer. Considering these factors, the US is expected to hold the highest market share during the forecast period.
Canada is also poised to experience significant growth in the hormone replacement therapy market. Health Canada approves the treatment of menopausal issues, and the regulatory body follows strict rules and regulations in medication approval to ensure the safety of the population. The country is witnessing a rise in the number of manufacturing facilities and clinical trial centers, further driving the growth of the market in Canada.
KEY MARKET PARTICIPANTS:
Companies playing a dominant role in the North America Hormone Replacement Therapy Market profiled in this report are Novartis, Abbott Laboratories, Pfizer, Mylan Laboratories, F. Hoffmann-La Roche, Merck & Co, Amgen, Eli Lily, Bayer, Novo Nordisk, Wyeth, Hisamitsu Pharmaceutical Co. Inc.,
Leading companies operating in the North America hormone replacement therapy market include Pfizer, Novartis AG, Amgen Inc., and Merck & Co.
Emerging trends in the hormone replacement therapy market in North America include increasing use of customized hormone replacement therapy, rising demand for non-oral HRT products, and growing popularity of bio-identical hormones.
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