Hormone Replacement Therapy Market To See Stunning Growth by 2027
Theglobal hormone replacement therapy market size was estimated to be USD 33.06 billion in 2021 and reach USD 48.92 billion in 2027, registering a CAGR of 6.75% during the forecast period (2021-2027). Hormonal replacement therapy (HRT) is used to cure the underlying problems or diseases associated with the deficiency of a particular hormone; the hormone is available in transdermal, gels, injections, implants, tablets, and other forms. For instance, estrogen hormone therapy is prescribed for females suffering from menopausal disorders. Estrogen hormone replacement therapy has major applications compared to other hormonal therapies, such as thyroid HRT, growth HRT, testosterone HRT, and others.
The therapy is expensive globally; it may induce medical tourism from developed nations to developing economies for relatively lower treatment costs and other provisions offered. The rise in prevalence of menopausal disorder and increased awareness of post-menopausal difficulties among women are significant factors driving the global hormone replacement therapy market during the forecast period. In addition, the launch of new hormone replacement therapies, such as DUAVIVE, is likely to contribute to the market's growth in upcoming years significantly. The demand for hormone replacement therapy is boosting with the increase of lifestyle-related disorders, and rising adulteration, as these are affecting the health and bodily functions. It is also used for infants to treat deficiency of the hormone and for gender transmission.
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Rising Adoption of Hormone Replacement Therapy
Hormone therapy is recommended for people suffering from hypogonadism or other hormonal disorders. It has many other benefits that concerns with animals and plants, as with its use, the plant's growth can be altered or retarded, to meet the rising demand of population and for commercial use. In animals, hormones are injected to decrease the gestation period, increase milk production, quality of meat, and others. Various utilities are yet to discover under ongoing R&D studies; advancement in technology or healthcare will make it possible to get treatment of the desired hormone to increase performance in sports, the education sector others.
The therapy has benefits, though risks and side-effects correlated to it, including stroke, cancer, weight gain or loss, infertility, hormonal toxicity, and others; therefore, expert advice and guidance are mandatory. Alternative medication or therapies like bioidentical therapy may affect its market. With the introduction of AI in healthcare, the accuracy of hormone insertion will increase declining risks or errors.
Impact of COVID-19 on Hormone Replacement Therapy Market
COVID-19 marked potential growth for the hormone replacement therapy market; the individuals are more aware of their health. Hormonal imbalance incidences are increasing in adults, neonates due to varied reasons; despite associated risks, there is a rising demand for hormonal replacement therapy globally. For instance, estrogen enhances the immune response, postmenopause the amount of estrogen falls in the female body, hence leaving older women at high risk of getting infected. The increasing number of research studies carried out by different institutes to manage the diseases with hormone therapy will affect the growth rate positively.
Scope of the Report
The hormone replacement therapy market has been segmented into therapies type, application, route administration, and region:
Based on the therapies type, the hormone replacement therapy market has been segmented into–
- Estrogen HRT
- Human growth HRT
- Thyroid HRT
- Testosterone HRT
- Progestogen HRT
Based on the indication, the hormone replacement therapy market has been segmented into–
- Menopause
- Hypothyroidism
- Male Hypogonadism
- Growth Hormone Deficiency
- Others
Based on the route administration, the hormone replacement therapy market has been segmented into-
- Oral
- Parenteral
- Transdermal
- others
Hormone Replacement Therapy Market Regional Outlook
Based on the geographical viewpoint, the global hormone replacement therapy market has been segmented into geographical regions: Asia Pacific, North America, Europe, UK, UAE, and others. In 2020, North America held the largest market share for hormone replacement therapy, followed by Europe and the Asia Pacific. Moreover, Asia Pacific is estimated to project the highest CAGR globally during the forecast period.
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Key Global Hormone Replacement Therapy Market Competitors Includes
The global hormone replacement therapy market is highly fragmented, with the presence of a large number of small players across the globe. The vital Hormone Replacement Therapy service providers and key players in the global market are –
- Abbott Laboratories
- Bayer AG
- Eli Lilly and company
- F. Hoffmann-La Roche Ltd
- Hisamitsu Pharmaceutical co. Inc.
- Merck KGaA
- Mylan N.V.
- Pfizer Inc.
- Novartis International AG.
The HRT market report covers a thorough analysis of the market dynamics, business models, segmental/regional analysis, and respective market shares and strategies adopted by the key market players operating globally. It entails an in-depth analysis of the factors influencing the global market and market statistics indicating region-wise and segment-wise market share/growth analysis. The report's study will outlook one of the most exhaustive market analyses, capturing all the hormone replacement therapy market aspects.
The hormone replacement therapy market report provides a thorough analysis of macro-economic factors and every segment's market attractiveness. The report will include an in-depth qualitative and quantitative assessment of the segmental/regional outlook with the market players' presence in the respective segment and region/country. The information concluded in the report includes the inputs.
Hormone Replacement Therapy Market Report Covers Comprehensive Analysis On
- Market Segmentation & Regional Analysis
- Market Size of 10 years
- Pricing Analysis
- Supply & Demand Analysis
- Product Life Cycle Analysis
- Porter's Five Forces & Value Chain Analysis
- Developed & Emerging Economies Analysis
- PEST Analysis
- Market and Forecast Factor Analysis
- Market Opportunities, Risks, & Trends
- Conclusion & Recommendation
- Regulatory Landscape
- Patent Analysis
- Competition Landscape
- 15+ Company Profiles
Hormone Replacement Therapy Market Regional Analysis Includes
- North America (US, Canada, Mexico)
- South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, the Netherlands, Norway, Sweden, Denmark, Rest of Europe)
- Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, the Philippines, Singapore, Australia & New Zealand, Rest of Asia Pacific)
- The Middle East & Africa (Saudi Arabia, UAE, South Africa, Northern Africa, Rest of MEA
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Hormone Replacement Therapy Market Target Audience
- Hormone Replacement Therapy service providers
- Consumers, healthcare students
- Trade publications and magazines
- Government authorities
- Industry associations and organizations
Key Issues Addressed
- What is the market size by various segmentation of the hormone replacement therapy by region and its respective countries?
- What are the customer buying behavior, key takeaways, and Porter's 5 forces of the hormone replacement therapy market?
- What are the key opportunities and trends for manufacturers involved in the hormone replacement therapy supply chain?
- What are the fundamental dynamics (drivers, restraints, opportunities, and challenges) of the market?
- What and how regulations, schemes, patents, and policies are impacting the growth of the market?
- What are the upcoming technological solutions influencing market trends? How will existing companies adapt to the new change in technology?
- What will be the impact of cutting-edge technology on the hormone replacement therapy market?
- How COVID-19 impacted the demand and sales of hormone replacement therapy in the global market? Also, the expected BPS drop or rise count of the market and market expected recovery period.
Detailed analysis of the competitors and their latest launch, and what are the prominent startups introduced in the target market? Also, detailed company profiling of 25+ leading and prominent companies in the market.
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