Hormone replacement therapy (HRT) is a strategy for replenishing and replacing hormones in the body that aren't present at acceptable levels compared to what's needed for their normal physiology. During or just before menopause, hormone replacement therapy helps in balancing the levels of estrogen & progesterone. Hormone replacement therapy, often known as menopausal hormone therapy, reduces hot flashes, night sweats, and other menopausal symptoms. In postmenopausal women, HR treatment has also been shown to minimize fractures and stop bone loss. One of the best methods for treating menopausal hot flashes and night sweats is systemic hormone therapy, which can be taken as a pill, cream, spray, skin patch, gel, or skin patch.

In 2021, the market for hormone replacement therapy was USD 24.97 billion, and by 2030, it will reach USD 49.25 billion, growing at a 7.83% CAGR during the forecast period. 

The rise in medication development with novel delivery technologies, the rising prevalence of hormonal imbalance diseases among the aging population, and increased awareness of post-menopausal concerns among women are some of the key drivers driving the growth of the hormone replacement therapy market.

Market Dynamics

Drivers

The market for hormone replacement therapy is growing due to the rising prevalence of the illnesses that the therapy targets and the increased accessibility of long-acting HGH medicines. The rise in menopausal illness prevalence and women's knowledge of post-menopausal concerns are two major reasons driving revenue growth in the global HRT market. The prevalence of hormonal abnormalities in children, adults, and the elderly is on the rise, fueling the demand for hormone replacement treatment. 

Restraints

Several side effects like dyspepsia, sadness, fluid retention, and headaches hamper the adoption of HRT. 

People with uncontrolled high blood pressure, thrombosis or blood clots, high blood triglyceride levels, stroke, heart disease, breast cancer, or gallbladder disease may be at risk from hormone replacement therapy.

Opportunity 

Pharmaceutical companies provide new cutting-edge medications to the worldwide market due to rising unmet hormone replacement demand in developing nations and greater knowledge of the treatment of hormone irregularities. In addition, the prevalence of menopause and hormone deficiency issues in important nations has prompted manufacturers to release novel items, such as combination therapy products, to replace the regular use of long-acting parenteral drugs.

Market Segmentation 

By Product

In 2022, the estrogen and progesterone replacement therapy segment had the biggest market share of 54.34% due to the rising number of women experiencing menopause. The American Congress of Obstetricians & Gynecologists predicts that nearly 6,000 women in the United States go through menopause daily.

Due to rising incidence and more product penetration, the parathyroid hormone replacement segment will develop at the quickest rate throughout the forecast period.

By Route of Administration 

Due to the high prescription rate and simplicity of administration, the oral category held the majority of the market, with a share of 42.48% in 2022. Tablets and pills are typically included in HRT medicines.

During the forecast period, the parenteral segment will have profitable expansion. The significant share is due to the improvements in parenteral medication delivery, such as pen-based drug delivery increases patient compliance and makes administration easier.

By Disease Type

The menopausal category ruled the market in 2022 with a share of nearly 44.44% due to the rising number of women experiencing menopause. In 2020, the UN predicted that 958 million women worldwide would be 50 years of age or older, and by 2050, it will increase to 1.65 million. Millions of women may likely survive for more than a third of their lives following menopause. 

Regional Analysis

With a share of 39.15% North America held a dominant position in 2022. The region's greatest market share is due to several reasons, including significant product launches, manufacturer collaboration agreements, and benevolent reimbursement policies.  

Over the forecast period, Asia Pacific will experience the fastest growth. The prevalence of vasomotor symptoms linked with menopause has been observed to range from 43% to 83% among women in East Asian countries, Per the Journal of the North American Menopause Society. The region's demand for hormone replacement therapy is thus anticipated to increase as more women enter menopause.

Key Players 

· Bayer Ag.

· Hoffmann-La Roche Ltd. (Genentech, Inc.)

· Abbott Laboratories

· Eli Lily And Company

· Hisamitsu Pharmaceutical Co., Inc. (Noven Pharmaceuticals, Inc.)

· Mylan N.V. (Viatris Inc.)

· Novo Nordisk A/S

· Merck Kgaa

· Novartis International Ag

· Pfizer Inc.

In 2021, the market for hormone replacement therapy was USD 24.97 billion, and by 2030, it will reach USD 49.25 billion, growing at a 7.83% CAGR during the forecast period. Increased awareness of post-menopausal concerns among women, an increase in drug development with novel delivery technologies, and hormonal imbalance diseases with the growing senior population are some factors that favorably affect the growth of the hormone replacement therapy (HRT) market.

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