Hormone Replacement Therapy MarketThe global hormone replacement therapy market reached a value of US$ 8.16 Billion in 2020. IMARC Group expects the global hormone replacement therapy market to exhibit moderate growth during the next five years.
According to the recent report by IMARC Group, titled “Hormone Replacement Therapy Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global hormone replacement therapy market size reached US$ 4.5 Billion in 2019. Hormone replacement therapy (HRT) refers to a type of treatment wherein low levels of hormones in the body are replenished. It helps in balancing the estrogen or progesterone levels in women nearing menopause. Apart from this, it is suitable for patients with a deficiency of growth hormone and elderly patients suffering from hypogonadism. As HRT is considered an efficacious treatment, patients now prefer it over herbal medicines or chemical drugs. This therapy is available in different forms, including gels, implants, skin and mouth patches, and injections. However, HRT may cause some side effects such as nausea, bloating, indigestion, headaches, and cramps.
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Global Hormone Replacement Therapy Market Trends:
One of the major growth-inducing factors of the market is the rising cases of hormonal imbalance disorders in the neonatal and geriatric populations around the globe. Moreover, the increasing cases of hypogonadism due to poor health and obesity among the geriatric population have created a high demand for HRT in developed regions like North America. Besides this, menopausal women are the leading population base propelling the market growth. A number of women are gaining awareness regarding HRT and its effective results, which has effectively increased its demand in most countries. Furthermore, the key players are introducing innovative drug delivery systems like new gel-based formulations, vaginal estrogen drugs, and estrogen patches. This, along with aggressive marketing, direct selling campaigns, and further investment by manufacturers, is anticipated to bolster the market growth.
- On the basis of the product type, the market has been divided into estrogen, human growth hormone, testosterone, thyroid, and other replacement therapies. Among these, estrogen replacement therapy is leading the market.
- Based on the route of administration, parenteral accounts for the majority of the total market share. Other segments include transdermal and oral.
- On the basis of the type of disease, the market has been classified into growth hormone deficiency, hypothyroidism, menopause, male hypogonadism, and others. At present, menopause holds the biggest market share.
- Region-wise, North America represents the leading market, owing to the increasing cases of hypogonadism among the geriatric population. Other regions include Latin America, Europe, Middle East and Africa, and Asia Pacific.
- The competitive landscape of the market has been analyzed in the report, with some of the key players being Novo Nordisk, Pfizer, Abbott Laboratories, Bayer AG, Hisamitsu Pharmaceutical Co. Inc., Merck, Eli Lilly & Company, Roche, Mylan, and Novartis.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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