Hormone Replacement Therapy Market is expected to reach US$ 14.82 billion by 2031

Based on by Therapy Estrogen Hormone Replacement Segment to Hold Significant Share of Hormone Replacement Therapy Market During 2023–2031

According to our latest study on "Hormone Replacement Therapy Market Forecast to 2031 – Global Analysis – Therapy, Application, Route of Administration, and End User," the market is expected to reach US$ 14.82 billion by 2031 from US$ 8.46 billion in 2023; it is estimated to record a CAGR of 7.3% during 2023–2031. The report emphasizes the key factors driving the market and prominent players' developments. The increasing prevalence of hormone disorders across the world and rising government initiatives and support for research in the field of reproductive health propel the market growth. However, side effects associated with hormone replacement therapy impede the hormone replacement therapy market growth.

Hormone replacement therapy is recommended to manage various hormonal conditions such as menopause, growth hormone (GH) deficiency, hypothyroidism, and hypogonadism. The therapy replaces progesterone, estrogen, or both of the hormones that are depleted when menopause sets in. Hormone imbalances (too low or too high) can cause uncomfortable (at best) and disruptive symptoms as they regulate anxiety, heart rate, appetite, body temperature, brain function, metabolism, mood, sleep cycles, sexual function, stress, urination, and other activities. Various hormone combinations and methods of administration such as medications, patches, and creams are used for reestablishing balance. Every year, millions of women experience the menopause. Many women undergoing menopause struggle with various symptoms, including dry vagina, anxiety, depressive mood swings, hot flashes, and trouble falling asleep. A few of these symptoms can negatively impact their day-to-day functioning. Menopause symptoms can be relieved with hormone replacement therapy. Thus, an increase in the prevalence of menopause and other hormonal conditions fuels the hormone replacement therapy market growth.

Hormone Replacement Therapy Market, by Geography, 2023 (%)

Source: The Insight Partners Analysis

According to NHS, an estimated 1.93 million patients with hormonal diseases in England were identified and prescribed HRT during 2021–2022,  a 30.5% increase compared to an estimated 1.48 million identified patients during 2020–2021.

Emerging countries such as Brazil, India, Argentina, the UAE, and South Africa are expected to offer significant opportunities for the hormone replacement therapy market players due to rising disposable incomes, expanding patient population, increasing R&D activities, improving healthcare infrastructure, growing disease awareness, and relatively lenient guidelines compared to developed countries. The popularity of hormone therapy is growing in India as most women look for ways to control menopausal symptoms. A growing number of women are using this therapy as a secure and reliable means of controlling their symptoms and enhancing their general health, which drives the market growth in India.

Owing to the loss of the hormone estrogen and its advantageous effects, menopause affects about 75% of women globally as per the National Library of Medicine. The brain, bones, heart, blood vessels, vagina, and skin can all be impacted, though each woman's experience with these symptoms may differ in severity. The cornerstone of treatment for many of these women is hormone replacement therapy (HRT), which has long been the subject of discussion and investigation. The potential advantages of HRT in treating or preventing heart disease are currently being examined in a number of government-sponsored trials. The National Heart, Lung, and Blood Institute (NHLBI) is funding a randomized, double-blind Phase III trial that is currently accepting participants to find out if progesterone or estrogen alone can treat postmenopausal women with unstable angina. Moreover, Wyeth-Ayerst is conducting Phase II clinical trials for its combination progesterone/estrogen product, Trimegestone, with Premarin.  Solvay Pharmaceuticals is conducting Phase III trials for its Combi-Patch of progestin and estrogen. Thus, a significant product pipeline is likely to provide opportunities for the hormone replacement therapy market growth during the forecast period.

The “hormone replacement therapy market analysis” has been carried out by considering the following segments: therapy, application, route of administration, and end user. By therapy, the market is segmented into estrogen hormone replacement, growth hormone replacement, thyroid hormone replacement, testosterone replacement, and others. The estrogen hormone replacement segment held the largest market share in 2023 and is anticipated to register the highest CAGR during the forecast period. The market, by application, is categorized into menopause, growth hormone (GH) deficiency, hypothyroidism, hypogonadism, and others. The menopause segment held the largest hormone replacement therapy market share in 2023 and is further anticipated to register the highest CAGR during the forecast period. Based on route of administration, the market is categorized into oral, parenteral, and others. The oral segment held the largest market share in 2023.

Hormone Replacement Therapy Market, by Geography:

The geographic scope of the hormone replacement therapy market report entails North America (the US, Canada, and Mexico), Europe (Spain, the UK, Germany, France, Italy, and the Rest of Europe), Asia Pacific (South Korea, China, India, Japan, Australia, and the Rest of Asia Pacific), the Middle East & Africa (South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).

In 2023, North America held the largest hormone replacement therapy market share. The increasing adoption of the latest innovative technologies, high prevalence of hormonal disorders, and product innovations by key players contribute to the growing hormone replacement therapy market size in North America. Asia Pacific is expected to record the highest CAGR during the forecast period owing to an increase in government initiatives to improve the healthcare infrastructure and thereby improve product access.

The hormone replacement therapy market report emphasizes key developments by prominent players. AstraZeneca; Pfizer Inc.; Novartis AG; Abbott, Tolmar Inc; Par Pharmaceutical; Mayne Pharma Group Limited; Novo Nordisk A/S; Eli Lily And Company; and Noven Pharmaceuticals, Inc. are among the prominent players contributing to the hormone replacement therapy market progress. These companies have been implementing various strategies that contribute to their growth and lead to various changes in the market. Organic strategies implemented by market players include product launches, expansions, and product approvals, while inorganic strategies include collaborations and partnerships.

A few of the recent developments in the global market, as per the company press releases, are mentioned below:

• In March 2024, AstraZeneca declared that it had finalized a deal to buy Amolyt Pharma, a biotechnology company in the clinical stages that specializes in creating cutting-edge therapies for uncommon endocrine disorders. The remarkable addition of eneboparatide (AZP-3601), a Phase III investigational therapeutic peptide with a novel mechanism of action intended to meet important therapeutic goals for hypoparathyroidism, is a part of the proposed acquisition, which will strengthen the Alexion, AstraZeneca Rare Disease late-stage pipeline and expand its bone metabolism franchise.
• In June 2023, Pfizer Inc. announced the availability of DUAVEE (conjugated estrogens/bazedoxifene), an estrogen-based menopause hormone therapy, in better packaging in the US. 

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