Hormone Replacement Therapy Market Outlook
According to a new report by Expert Market Research titled, “Hormone Replacement Therapy Market Size, Share, Analysis, Report and Forecast 2023-2028″, is projected to grow at a CAGR of 6.9% between 2023 and 2028. Aided by the escalating prevalence of hormonal imbalances and the growing applications of HRT across diverse medical conditions, the market is expected to grow significantly by 2028.
Hormone replacement therapy, typically used to supplement low hormone levels in the body, is widely used for the treatment of conditions related to menopause, hypothyroidism, and hypogonadism. It plays a crucial role in relieving symptoms like hot flushes, sweating, vaginal dryness, and bone loss. Beyond its primary therapeutic function, HRT is also found to improve quality of life and mood, rendering it invaluable in comprehensive patient care.
The rising prevalence of hormonal imbalances, attributed to factors like stress, unhealthy lifestyle, and ageing, is a significant driver of the global hormone replacement therapy market growth. Increased awareness of the discomfort associated with hormonal conditions and the potential benefits of HRT has led to a noticeable increase in the demand for HRT products. Furthermore, the ageing global population, especially the increasing number of postmenopausal women, is another major factor contributing to the HRT market’s expansion.
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The broadening applications of hormone replacement therapy across diverse medical conditions also serve as a substantial propellant for market growth. Apart from menopause, HRT is increasingly being utilised to treat conditions like hypothyroidism, growth hormone deficiency, and male hypogonadism. Moreover, advancements in HRT formulations and delivery systems, providing more convenient and effective treatment options, are expected to increase the hormone replacement therapy market demand.
In the pharmaceutical industry, HRT is witnessing heightened interest due to its potential in mitigating osteoporosis risks, a condition linked to hormonal imbalances and menopause. Also, ongoing research on the benefits of HRT for cardiovascular health, cognitive function, and overall wellbeing, promises to expand the therapy’s scope and market reach significantly.
In addition, the growing focus on personalised medicine and patient-centric treatment plans has driven attention towards HRT as a tailored therapeutic approach. The understanding that hormonal imbalances and their impacts vary significantly between individuals has led to an increased demand for customised hormone therapies, thus stimulating the hormone replacement therapy market expansion.
Hormone Replacement Therapy Market Segmentation
The market can be divided based on product, route of administration, type of disease, end user, distribution channel, and region.
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Market Breakup by Product
- Estrogen and Progesterone Replacement Therapy
- Human Growth Hormone Replacement Therapy
- Thyroid Replacement Therapy
- Testosterone Replacement Therapy
Market Breakup by Route of Administration
Market Breakup by Type of Disease
- Male Hypogonadism
- Growth Hormone Deficiency
Market Breakup by End User
- Speciality Clinics
Market Breakup by Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
Market Breakup by Region
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global hormone replacement therapy companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- Novo Nordisk A/S
- Abbott Laboratories Inc.
- Pfizer Inc
- Bayer AG
- Merck & Co., Inc.
- Viatris Inc.
- Eli Lilly and Company
- Koninklijke Philips N.V.
- F. Hoffmann-La Roche Ltd. (Genentech)
- Hisamitsu Pharmaceutical Co., Inc. (Noven Pharmaceuticals, Inc.)
- ASCEND Therapeutics US, LLC. (Besins Healthcare)
- AbbVie Inc.
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