Hormone Replacement Therapy Market Forecasts to 2030 – Global Analysis By Therapy Type (Estrogen Hormone Replacement Therapy, Human Growth Hormone Replacement Therapy and Other Therapy Types), By Route of Administration (Oral, Parenteral and Other Route of Administrations), Indication, Distribution Channel and By Geography
According to Stratistics MRC, the Global Hormone Replacement Therapy Market is accounted for $35.8 billion in 2023 and is expected to reach $62.1 billion by 2030 growing at a CAGR of 8.2% during the forecast period. Hormone Replacement Therapy (HRT) involves medical treatments aimed at supplementing or replacing hormones, such as estrogen, progesterone, or testosterone, in individuals experiencing hormonal imbalances due to aging, menopause, or other conditions. HRT can alleviate symptoms like hot flashes, mood swings, and vaginal dryness in women and address hormonal deficiencies in men.
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.
Market Dynamics:Driver:Growing prevalence of various hormonal disorders
The increasing prevalence of diverse hormonal disorders serves as a significant driver in the hormone replacement therapy market. Factors such as aging populations, lifestyle changes, and environmental influences contribute to rising incidences of hormonal imbalances, menopause-related symptoms in women and andropause in men. Conditions like hypothyroidism, menopausal symptoms and hormonal deficiencies drive the demand for HRT. This growing patient pool seeking relief from symptoms and complications associated with hormonal disorders fuels the expansion of the hormone replacement therapy market.
Restraint:High cost of hormone replacement therapy
Expenses for hormone replacement therapy medications, consultations and follow-up visits can be substantial, impacting affordability for many patients. Moreover, insurance coverage and reimbursement limitations often lead to out-of-pocket expenses, limiting accessibility. This financial barrier can deter individuals from seeking or continuing hormone replacement therapy, affecting treatment adherence and overall market growth.
Opportunity:Rise in drug development with novel delivery systems
Innovative delivery methods, such as transdermal patches, subcutaneous implants and biodegradable microspheres, enhance treatment efficacy, patient compliance and convenience. These advancements offer precise dosing, steady hormone release and reduced side effects compared to traditional oral formulations. They also attract patient interest and expand treatment options, driving market growth by improving therapeutic outcomes and addressing the diverse needs of individuals seeking hormone replacement therapies.
Threat:Adverse effects of therapies
Hormone therapies, particularly estrogen-based ones, may elevate the risk of blood clots, stroke, breast cancer and cardiovascular complications. These risks vary based on factors like age, dosage, duration of therapy, and individual health history. Concerns about these adverse effects have led to a decline in HRT usage and raised questions about its long-term safety, impacting market growth.
Covid-19 Impact:
The COVID-19 pandemic had varied impacts on the market. Disruptions in healthcare services, including limited access to clinics and reduced elective procedures, affected HRT prescriptions and patient consultations. Heightened health concerns led to delays in seeking hormonal therapies. However, increased awareness of menopausal symptoms and mental health issues during the pandemic might have driven demand for HRT.
The menopause segment is expected to be the largest during the forecast period
During the forecast period, the menopause segment is anticipated to become the largest in the market. As the population ages, the number of women entering menopause increases, leading to a larger demographic seeking therapies to manage menopausal symptoms like hot flashes, night sweats, and mood changes. Additionally, advancements in HRT formulations and delivery methods tailored specifically for menopausal symptoms contribute to the growth of this segment.
The human growth hormone replacement therapy segment is expected to have the highest CAGR during the forecast period
During the forecast period, the human growth hormone (HGH) replacement therapy segment is anticipated to experience robust growth owing to increased awareness of growth hormone deficiencies, coupled with rising instances of hormonal imbalances in adults and children, which is driving demand for HGH therapies. In addition, advancements in biotechnology, leading to the development of innovative HGH formulations and delivery methods, along with expanding applications in addressing various health conditions, are key contributors to the projected substantial growth in this segment.
Region with largest share:
North America is expected to witness the largest market share, due to the advanced healthcare infrastructure, high healthcare expenditure, and a significant emphasis on research and development. Moreover, the prevalence of hormonal imbalances, coupled with an aging population seeking hormone therapies, contributes to substantial market growth. Favorable reimbursement policies and the presence of key market players further reinforce North America's dominance in the market.
Region with highest CAGR:
Asia Pacific is poised for robust growth in the market due to the region's expanding aging population, coupled with increasing awareness of menopausal symptoms and hormonal disorders. Additionally, rapid urbanization, lifestyle changes, and a growing focus on healthcare have heightened the prevalence of hormonal imbalances, propelling market growth. Moreover, improving healthcare infrastructure, rising disposable incomes and evolving regulatory frameworks are facilitating greater accessibility to fostering substantial growth in the Asia Pacific region.
Key players in the marketSome of the key players in Hormone Replacement Therapy Market include AbbVie Inc., Acerus Pharmaceuticals, Amgen, Bausch Health Companies, Bayer AG, Eli Lilly and Company, Merck & Co., Mithra Pharmaceuticals SA, Mylan NV, Novartis AG, Novo Nordisk, Pfizer Inc., QuatRx Pharmaceuticals, Radius Health, Sanofi, Serum Institute of India, Teva Pharmaceutical Industries, TherapeuticsMD and Veru Inc.
Key Developments:In August 2022, Akorn announced that it had successfully received FDA approval for launching its Generic-Cetrorelix Acetate in the form of Injection (0.25 mg quantity). Cetrorelix is one of the most effective chemicals used in hormone replacement therapy as it totally blocks the adverse impacts of a natural hormone, known as GnRH or gonadotropin-releasing hormone.
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.
Therapy Types Covered:
• Estrogen Hormone Replacement Therapy
• Human Growth Hormone Replacement Therapy
• Oestrogen Hormone Replacement Therapy
• Parathyroid Hormone Replacement Therapy
• Progestogen Hormone Replacement Therapy
• Testosterone Hormone Replacement Therapy
• Thyroid Hormone Replacement Therapy
• Other Therapy Types
Route of Administrations Covered:
• Oral
• Parenteral
• Transdermal
• Other Route of Administrations
Indications Covered:
• Menopause
• Growth Hormone Deficiency
• Hypothyroidism
• Male Hypogonadism
• Other Indications
Distribution Channels Covered:
• Retail Pharmacies and Drugstores
• Online Pharmacies
• Other Distribution Channels
Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa
What our report offers:- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements