Hormone Replacement Therapy Market Size - By Product (Estrogen, Progesterone, Thyroid, Growth Hormone, Testosterone), Route of Administration (Oral, Parenteral), Disease (Menopause, Growth Hormone Deficiency), Distribution Channel, Global Forecast, 2023-2032
Published Date: July - 2024 | Publisher: MIR | No of Pages: 240 | Industry: Healthcare | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationHormone Replacement Therapy Market Size
Hormone Replacement Therapy Market size accounted for USD 21.8 billion in 2022 and is estimated to reach USD 40.1 billion by 2032 with a CAGR of 6.3% due to the increasing geriatric population, rising awareness of post-menopausal issues, increasing development of novel drug delivery systems for hormone imbalance issues, and rising prevalence of hormonal disorders.
Hormone Replacement Therapy (HRT) refers to a medical treatment that involves supplementing or replacing specific hormones in the body in order to treat hormonal deficiencies or imbalances. HRT is commonly used to alleviate symptoms and health issues that are associated with hormonal deficiencies or changes. HRT is widely used for various medical conditions such as menopause, hypothyroidism, testosterone deficiency, growth hormone deficiency, any many other conditions.
| Report Attribute | Details |
|---|---|
| Base Year | 2022 |
| Hormone Replacement Therapy Market Size in 2022 | USD 21.8 Billion |
| Forecast Period | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR | 6.3% |
| 2032 Value Projection | USD 40.1 Billion |
| Historical Data for | 2018 to 2022 |
| No. of Pages | 165 |
| Tables, Charts & Figures | 288 |
| Segments covered | Product, Route of Administration, Disease Type, Distribution Channel, and Region |
| Growth Drivers |
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| Pitfalls & Challenges |
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COVID-19 Impact
The pandemic was a major blow to the progress of hormone replacement therapy (HRT). It disrupted global supply chains, causing a shortage of HRT medications worldwide. Manufacturers struggled to get their hands on the raw materials they needed, so production slowed down. As a result, there weren't enough HRT products to go around at the start of the pandemic. In September 2021, for example, the British Menopause Society warned about how hard it was to find HRT in the UK. On top of that, hospitals and clinics were closing or restricting travel, so fewer people were going for appointments. That made it even harder for women to get the HRT they needed.
Moreover, as the covid-19 cases decreased the prominent players resumed the production of pharmaceuticals including HRT products. In addition to this, the increasing investments in research and development of HRT products with novel formulations such as transdermal drug delivery systems, and parenteral drug delivery systems.
Hormone Replacement Therapy Market Driving Factors
The industry is significantly driven by increasing number of geriatric populations, rising prevalence of hormonal disorders, and rising awareness of post-menopausal issues. According to World Health Organization (WHO), it is estimated that by 2030, 1 in 6 people will be aged 60 years or more globally and by 2050, the geriatric population is expected to reach 2.1 billion worldwide. As the global population continues to age, it significantly increases the prevalence of hormonal imbalance conditions, such as menopause in women and low testosterone levels in men.
This results in growing demand for hormone replacement therapies to manage the symptoms associated with such conditions. According to National Institutes of Health (NIH), it is estimated that around 6,000 women reach menopause daily in the U.S. Hormone replacement therapies are widely used all over the globe, in order to relieve the symptoms associated with menopause including hot flashes or vaginal discomfort. The lack of growth hormone in children is increasing the number of pediatric growth hormone deficiency leading to the increase in demand for hormone replacement therapies all over the globe.
Hormone Replacement Therapy Market Analysis
When it comes to hormone replacement therapy (HRT), there are various treatments for different hormone imbalances. One common type is estrogen and Progesterone replacement therapy. This is used mainly for women going through menopause, to help manage symptoms like hot flashes, night sweats, and mood swings. Estrogen replacement can also help prevent osteoporosis, a condition that weakens bones. Another important hormone is thyroid hormone. Thyroid replacement therapy helps treat people with underactive thyroid glands. Growth hormone replacement therapy is for people whose bodies don't produce enough growth hormone, which can lead to stunted growth or other problems. Parathyroid hormone replacement therapy is used for people with low levels of parathyroid hormone, which can cause low calcium levels in the blood. Finally, testosterone replacement therapy is used for men with low testosterone levels, which can lead to fatigue, loss of muscle mass, and other issues. Out of these, estrogen and Progesterone replacement therapy is currently the most common, with sales over $11.9 million in 2022. The growing number of women experiencing menopause and increasing awareness of its symptoms have contributed significantly to the growth of this segment.
Based on route of administration, the hormone replacement therapy market is classified into oral, parenteral, and other routes of administration. In 2022, the oral segment held majority of industry share of 41.5% and is expected to reach USD 16.9 billion by 2032. The HRT products are most commonly available in the form of pills and tablets. The patient preference, ease of administration, widespread availability, cost-effectiveness, and increased patient compliance.. Few of the most widely available parenteral delivery systems are Norditropin FlexPro Pen, Genotropin Mixer Pen, and Humatrope HumatroPen.
Imagine you're at the doctor's office for a hormone replacement therapy consultation. The doctor explains that this treatment is used for various conditions, like menopause, growth hormone deficiency, and hypothyroidism. Menopause is a stage in women's lives where they experience hormonal changes that can cause uncomfortable symptoms like hot flashes, sleep problems, and mood swings. These symptoms can impact women's daily lives. Hormone replacement therapy helps reduce these symptoms by replacing the declining estrogen levels during menopause. As the number of older women increases and they become more aware of the challenges of menopause, the demand for hormone replacement therapy for menopause is expected to grow. This means more women will be seeking treatment to improve their quality of life as they transition through menopause.
Based on the distribution channel, the hormone replacement therapy market is segmented into hospital pharmacies, retail pharmacies, and online pharmacies. In 2022, the hospital pharmacies segment held highest industry share of 50.7%. The hospital pharmacies are the primary source of prescription drugs for patients who are hospitalized or receiving other medical treatments. They have access to a wide range of hormone replacement therapy drugs. In addition to this the increasing prevalence of hormonal diseases, increasing awareness of post-menopause symptoms, and increasing prescription rate of HRT products. The retail pharmacies accounted for second highest industry share in 2022 due to the increasing adoption and availability of over-the-counter HRT products.
The market in North America dominated the hormone replacement therapy market in 2022 with industry share of 40.2%. The rising prevalence of menopause and growth hormone deficiency disorders, increasing awareness related to post-menopause issues, presence of key players in the industry, research and development of products with novel formulations, and increased adoption of hormone replacement therapies. Asia Pacific is expected to grow at fastest CAGR of 6.7% by 2032 due to increasing awareness related to hormonal disorders, development of novel formulations, and increasing ageing population.
Hormone Replacement Therapy Market Share
The key players in the hormone replacement therapy market are
- Eli Lilly and Company
- Bayer AG
- Pfizer, Inc
- Viatris, Inc.
- Noven Pharmaceuticals, Inc.
- Merck & Co., Inc.
- Novo Nordisk A/S
- AbbVie, Inc.
- F. Hoffmann-La Roche Ltd.
- ASCEND Therapeutics US, LLC.
- Abbott Laboratories
- Genentech Inc.
- Teva Pharmaceutical Industries Ltd.
- Novartis AG
Hormone Replacement Therapy Industry News
- In February 2022, MHLW of Japan approved NGENLA of Pfizer, Inc. and OPKO which is a long-lasting treatment for pediatric growth hormone deficiency. This strategic initiative helps the companies to expand their customer base in different geography and boost their revenue.
- In August 2020, U.S. FDA approved Sogroya injection of Novo Nordisk A/S in U.S. for adults with growth hormone deficiency (AGHD). This development helped them to strengthen their product portfolio and enhance their revenue growth.
The hormone replacement therapy market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2018 to 2032 for the following segments
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By Product
- Estrogen & progesterone replacement therapy
- Thyroid replacement therapy
- Growth hormone replacement therapy
- Parathyroid hormone replacement therapy
- Testosterone replacement therapy
By Route of Administration
- Oral
- Parenteral
- Other routes of administration
By Disease Type
- Menopause
- Growth hormone deficiency
- Male hypogonadism
- Hypothyroidism
- Hypoparathyroidism
- Other disease types
By Distribution Channel
- Retail pharmacies
- Hospital pharmacies
- Online pharmacies
The above information is provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Switzerland
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
- Rest of Middle East & Africa
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