The examination of traders taking into account their contribution to the market as a whole is provided by the Hormone Replacement Therapy (HRT) Market share analysis. It informs the entire market about the money it generates in comparison to other sellers worldwide. It provides information on how dealers are performing in relation to others in terms of customer base and revenue initiation. Understanding market share gives insight into the size and competitiveness of the vendors for the base year. In terms of growth, breakup, dominance, and incorporation features, it reveals the market descriptions. The revised study takes into account the COVID-19 influence on the market and offers insights, analysis, projections, and forecasts.
Hormone Replacement Therapy (HRT) Market Overview
The global Hormone Replacement Therapy (HRT) Market size is projected to reach a CAGR of 6.3% from 2023-2030.
Hormone replacement therapy is used when the human body is not able to produce enough hormones. It is used for the treatment of menopause, hypothyroidism, male hypogonadism, and growth hormone deficiency conditions. The signs that the individual requires hormone replacement therapy are hot flashes, night sweats, vaginal dryness, pain, itching, or burning during intercourse, bone loss, low sex drive, mood changes, and irritability.
The increasing prevalence of chronic conditions such as hypogonadism in adult men worldwide is expected to drive the growth of the hormone replacement therapy market. Furthermore, another major factor fuelling the growth of the market is the ease of access to hormonal replacement therapy and government support for research and development activities for hormonal replacement therapy drugs.
On the other hand, stringent regulations proposed by the regulatory authorities regarding the application of hormone replacement products, owing to the increased risk of adverse cardiovascular diseases and the high cost associated with the replacement therapy are the major factors restraining the growth of the market.
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The impact of COVID-19 on the hormone replacement market has been negative due to the widespread shortage of these therapies’ supplies across the globe. The shortage has further led to the distress of pre-and post-menopausal women globally. Due to the COVID-19 pandemic, the difficulty of the manufacturers in procuring raw materials is one of the reasons leading to the scarcity of these products. Furthermore, the pandemic has led to a negative impact on the sales of these products across the globe due to the closure of healthcare facilities, such as hospitals and clinics, in the initial days of the pandemic. These closures have led to a significant negative impact on the diagnosis of patients suffering from hormonal disorders.
Delvens Industry Expert's Standpoint
One big area of the pharmaceutical business that is anticipated to increase over the next several years is the market for hormone replacement treatment. The prevalence of menopause is increasing, and this development is fueled by factors including growing public knowledge of the advantages of HRT. The availability of alternative therapies and worries about the security and efficacy of HRT provide further obstacles for the industry. Despite these obstacles, the largest HRT market players are spending on research and development to produce cutting-edge solutions that satisfy patients' changing demands. Companies will need to keep up with market trends and developments as well as any changes in those trends and developments in order to remain competitive.
Key Findings
- The product segment is further fragmented into Estrogen and Progesterone Replacement Therapy, Human Growth Hormone (HGH) Replacement Therapy, Thyroid Hormone Replacement Therapy, Testosterone Replacement Therapy, and Parathyroid Hormone Replacement. The estrogen and progesterone replacement therapy segment held the highest market. The dominance was attributed due to an increase in the number of women suffering from menopause.
- The route of administration segment is further fragmented into Oral, Parenteral, Transdermal, and Others. The oral segment dominated the market due to the high prescription rate and ease of administration. Most HRT products generally include pills & tablets.
- The disease segment is further fragmented into Menopause, Hypothyroidism, Male Hypogonadism, Growth Hormone Deficiency, and Hypoparathyroidism. The menopause segment dominated the market and is anticipated to maintain its dominance during the forecast period. This can be attributed to the owing to increase in the number of women suffering from menopause.
- The market is also divided into various regions such as North America, Europe, Asia-Pacific, South America, and Middle East and Africa. North America dominated the global hormone replacement therapy market and is anticipated to grow at a significant rate during the forecast period. Major product launches, collaborative agreements between manufacturers, and favorable reimbursement policies are among the factors responsible for the largest market share in the region.
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Hormone Replacement Therapy (HRT) Market Regional Analysis
North America to Dominate the Market
- North America dominated the global hormone replacement therapy market and is anticipated to grow at a significant rate during the forecast period.
- Major product launches, collaborative agreements between manufacturers, and favorable reimbursement policies are among the factors responsible for the largest market share in the region.
Hormone Replacement Therapy (HRT) Market Competitive Landscape
- Novartis AG
- Abbott Laboratories
- Mylan N.V.
- Merck KgaA
- Bayer AG
- Pfizer Inc.
- Novo Nordisk A/S
- QuatRx Pharmaceuticals
- Teva Pharmaceutical Industries Ltd.
- Amgen, Inc.
- Eli Lilly and Company
Hormone Replacement Therapy (HRT) Market Recent Developments
- May 2021 – Myovant Sciences GmbH announced that it received approval from the U.S. FDA for its hormone therapy Myfembree as a treatment for uterine fibroid bleeding. The drug launched by Myovant will give direct competition to AbbVie with an added dosing advantage.
- April 2021 – TherapeuticsMD, Inc. and Theramex announced that they received approval from the Medicines and Healthcare Products Regulatory Agency (MHRA) and Federal Agency of Medicines and Health Products (FAMHP) for the use of BIJUVE in the U.K and under BIJUVA trade name in Belgium. The capsule will be used as hormone replacement therapy.
Reasons to Acquire in the Hormone Replacement Therapy (HRT) Market
- Increase your understanding of the market for identifying the best and most suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends, and factors.
- Gain authentic and granular data access for Hormone Replacement Therapy Market so as to understand the trends and the factors involved in changing market situations.
- Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future.
- In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns.
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Frequently Asked Questions
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