The global hormone replacement therapy market is projected to keep expanding and reach an estimated value of US$23,729.6 million by 2034. With a market valuation projected to reach US$16,825.2 million in 2024, this translates into a 3.5% Compound Annual Growth Rate (CAGR).
Hormone replacement therapy is becoming more widely known in this area. Asia is predicted to see a greater pace of growth for hormone replacement therapy, especially in China, Japan, and India. Any form of hormone therapy known as “hormone replacement therapy” involves giving a patient hormones as part of their medical care, either to make up for a deficiency in naturally occurring hormones or to replace them with other hormones.The time in most women’s lives when their menstrual cycles permanently end and they lose their ability to become pregnant is known as menopause. The menopause usually sets in between 45 and 55 years of age. Medical experts characterize a decline in the ovaries’ ability to produce hormones. Menopause often hits at age 40 for women who have experienced
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The primary forces behind the rise in demand for hormone replacement therapy are regenerative medications like anti-aging and reproductive cycle-boosting treatments like menopausal hormone replacement. Growth in the market is anticipated to be positively impacted by the rising demand in other therapeutic areas, such as growth hormone therapy and thyroid hormone therapy, because of these medications’ relative safety, effectiveness, and cost-effectiveness.
Furthermore, during the projected period, innovative formulations such as transdermal medications, gels, and creams that provide advantages like convenient drug administration and localized impact are anticipated to propel the expansion of the hormone replacement treatment market. Benefits of hormone replacement therapy include decreased risk of osteoporosis, cardiovascular disease, and vasomotor symptoms. These outcomes are anticipated to increase the
Key Players are Scheming for Success in the Hormone Replacement Therapy Market:
In order to position themselves for success, major companies in the hormone replacement treatment business are actively working together. In an effort to boost customer confidence and improve the effectiveness of these therapies, players are increasing their research and development expenditures. Market players are also trying to get product approvals and patents in order to diversify their offerings.
In order to raise awareness on postmenopausal issues, market participants are also collaborating with other companies or social media influencers. It is believed that this will increase customer awareness of the range of possibilities at their disposal.
Manufacturers are introducing hormone replacement medications in unique, user-friendly forms, such as pills and patches, in an effort to boost product uptake. In order to reach more customers, market leaders are likewise breaking down barriers..
New Developments Giving Shape to the Hormone Replacement Therapy Market
- In June 2023, Pfizer’s NGENLA received FDA approval. The product acts as a long-acting once-weekly treatment for patients suffering from pediatric growth hormone deficiency. In August 2023, NGENLA became available in the United States.
- In April 2023, Novo Nordisk reported that it had gained FDA approval for a new indication of Sogroya. These indications are intended for +2.5-year-old children who suffer from growth failure caused by insufficient endogenous growth hormone secretion.
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Prominent Companies in the Hormone Replacement Therapy Market are as Follows:
- Eli Lilly and Company
- Bayer AG
- Noven Pharmaceuticals, Inc.
- Pfizer Inc.
- Merck & Co., Inc.
- Viatris, Inc.
- Novo Nordisk A/S
- F. Hoffmann-La Roche Ltd.
- ASCEND Therapeutics US, LLC.
- AbbVie, Inc.
- Others
Key Market Segments Covered in Global Hormone Replacement Therapy Market Research:
By Therapy Type:
- Estrogen Replacement Therapy
- Growth Hormone Replacement
- Dopamine Agonist
- Somatostatin Analogues
- Thyroid Hormone Replacement
By Route of Administration:
- Oral Tablets/Capsules
- Parenteral
- Transdermal
- Others
By Disease Type:
- Menopause
- Hypothyroidism
- Male hypogonadism
- Growth hormone deficiency
- Hypoparathyroidism
By Region:
- North America
- Latin America
- East Asia
- South Asia and Pacific
- Western Europe
- Eastern Europe
- The Middle East and Africa
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