The hormone replacement therapy market has been disrupted by the development of male hormone therapy used to treat male hypogonadism, a condition that impacts testosterone production in men. Low testosterone production in men is linked to infertility, osteoporosis, loss of facial hair, and impotency. These issues can lead to the lifelong stigma that can often impact the mental health of men and drive them even to consider drastic steps such as committing suicide. However, hormonal replacement therapy market key players are gradually changing the landscape of male hypogonadism treatment by providing therapies in the form of gels, injections, and transdermal systems. These transdermal systems consist of patches that slowly release hormones through the process of osmosis. The increasing use of these methods amongst the male population has positively driven the growth of the hormone replacement therapy market.
Furthermore, the treatment of menopausal symptoms continues to be the most significant trend in the market. Menopause symptoms such as hot flashes and vaginal atrophy have been reported to have considerably lessened in women after they are treated with hormonal replacement therapy. Women are also approaching hormone therapy for anti-aging, which is creating further opportunities for the hormone replacement therapy market. During the forecast period of 2019-2025, the hormonal replacement therapy market will grow with a CAGR of 7.5, and it earned a revenue of $16.5 billion in 2018. The report covers Hormone Replacement Therapy Market size by type and applications, Hormone Replacement Therapy Market share by top 5 companies and also the market share by start-ups during the forecast period.
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Menopause and Its Prevalence: The Propelling Factor of Hormone Replacement Therapy Market
Menopause is a women’s condition which nearly every woman undergoes around the age of 50. Characterized by permanent termination of menstruation, menopause can also have a host of other effects, especially on cardiovascular, musculoskeletal, and psychogenic health of women. According to a study conducted by researchers at the University of Nottingham titled ‘Supporting working women through the menopause,’ around 80% of women experience intense symptoms of menopause both at the peri-menopausal and post-menopausal stage. Some of these symptoms include hot flushes, sleep disturbance, urinary problems, heavy periods, and vaginal symptoms. A lot of these women have to survive working in offices while suffering from the symptoms, which can span from two to twelve years. This has generated a high demand for the hormone replacement therapy market, which has solutions for the alleviation of menopausal symptoms and could make work life easier. With an enhanced drug delivery system in place, hormone replacement therapy side effects have also become negligible in women acquiring the dosage for reducing symptoms. Furthermore, hormone replacement therapy benefits are many, and the methods have achieved desired results in patients after several trials.
Post-birth, women can undergo numerous uterine issues which can induce a need for hysterectomy resulting in the complete removal of the uterus. Furthermore, laparoscopy used for minimally invasive removal of the uterus is gaining leverage over hysterectomies in most countries. According to the American Journal of Obstetrics and Gynecology, approximately 400,000 hysterectomies are performed each year in the United States of America. Menopausal symptoms can occur with the same intensity in patients having undergone hysterectomies as compared to those who have not. This is why doctors prescribe estrogen therapy to women who have undergone surgical procedures for uterus removal. Some of the common methods of drug deliverance of estrogen include pills, patches, topical estrogen such as sprays, gels, and creams, and vaginal rings. The market segment of estrogen replacement therapy has emerged as a promising one, and it will advance with a CAGR of 7.2% during the forecast period of 2019-2025.
North America Leading the Global Hormonal Replacement Therapy Market
According to research conducted by IndustryARC, North America has emerged as the geographical leader of the global hormonal replacement therapy market. In 2018, it held a 45% share out of the total revenue earned by the market. The statistics of women suffering from menopause and how the consequences of it affect their daily lives are staggering. According to the American Journal of Obstetrics and Gynecology, 6000 women in the U.S. reach menopause every single day, increasing the count by 2 million women per year. Characterized by hot flashes and emotional episodes, which can often cause sleeplessness, menopause can negatively impact daily lives. Women also face the stigma associated with menstrual issues that prevent them from disclosing symptoms that they suffer from regularly. According to a researcher at the University of Nottingham, women shy away from disclosing menopausal symptoms to their manager owing to the negative impact on confidence and work performance. These factors have made hormonal replacement therapy necessary in the lives of women suffering from both peri-menopausal and post-menopausal symptoms.
Improved Drug Delivery Systems Holds Growth Opportunities for the Hormonal Replacement Therapy Market
The healthcare industry is undergoing a visible transformation of drug delivery as a growing number of technologies with enhanced results come into being. The hormonal replacement therapy market has conventionally stuck to the oral administration of hormones, but this is changing now with improved drug delivery systems. A wide range of available options increases consumers as they can choose their preferred kind of hormone therapy delivery method. The focus of key players pertaining to drug delivery has been primarily on reducing the dosage amount and removing potential side effects associated with HRT. Some of the newer methods of drug delivery of hormonal replacement therapy include transdermal, intravenous, intravaginal, and intrauterine ways. The transdermal method is becoming increasingly popular amongst patients for its ease of usage and deliverance of the lowest possible dosage. The most popular transdermal method is the use of hormonal patches, which contains an adhesive that sticks to the skin. The dosage deliverance is gradual, which helps in achieving desired results while assuring negligible side effects at the same time. Other notable drug delivery methods include the use of creams or gels and vaginal rings. Market experts are also delving into a less popular but highly effective method of drug delivery: intra-vaginal drug delivery system. Some of the advantages of using this method are observed an increase in bioavailability of hormones, negligible contact with digestive fluid, use of less drug in the entire therapy, fast inception of action, and prolonged release. These improved methods of drug delivery systems have made a remarkable impact on the hormonal replacement therapy market as the demand for HRT rises amongst women with more preferential methods in store.
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Hormone Replacement Therapy Market: Key Market Players
Key companies operating in the hormone replacement therapy market are expending their resources on R&D that could further increase the scope of the market. One of the key areas of focus includes the reduction of side effects in women and men undergoing hormonal replacement therapy. Another area includes removing the stigma associated with women undergoing hormonal therapy for the reduction of menopausal symptoms. These key areas will be pivotal in shaping the growth of the hormone replacement therapy market in the upcoming years. The key companies responsible for this growth are Eli Lilly, Mylan Laboratories, Roche, Pfizer, Abbott Laboratories, Novo Nordisk, Novartis, Merck Serono, and Bayer Healthcare.
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The Global PVC Window Profile Market Research Report - Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026 gives an evaluation of the market developments based on historical studies and comprehensive research respectively.
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According to a research report "Cognitive Assessment and Training Market by Assessment Type (Pen- and Paper-Based, Hosted, Biometrics), Component, Application (Clinical Trial, Screening & Diagnostics, Brain Training, Academic Research), Vertical, and Region - Global Forecast to 2021", published by MarketsandMarkets, the cognitive assessment and training market size is expected to grow from USD 1.98 Billion in 2016 to USD 8.06 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 32.3%.Browse 63 market data tables and 47 figures spread through 150 pages and in-depth TOC on "Cognitive Assessment and Training Market - Global Forecast to 2021"The major forces driving this market are aging global population, increasing awareness about brain fitness, and advancements in technology.
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The latest trending report Global Circulating Fluidized Bed (CFB) Market 2020 by Manufacturers, Regions, Type and Application, Forecast to 2025 offered by DecisionDatabases.com is an informative study covering the market with detailed analysis.
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