Hormone replacement therapy (HRT) involves the administration of synthetic estrogen hormone, human growth hormone, thyroid hormone, testosterone hormone, and progestogen hormone to replace depleting hormone levels of male and female and thus alleviate symptoms of menopause, hypothyroidism, male hypogonadism, and growth hormone deficiency.
The global hormone replacement therapy market was valued at $31.1 billion in 2019, and is projected to reach $46.5 billion by 2027, registering a CAGR of 5.1% from 2020 to 2027.
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The key factors that drive the growth of the global hormone replacement therapy market comprise rise in prevalence of menopausal disorder, increase in awareness about post-menopausal signs & the treatment options available for women, and new product launches of hormone replacement therapy. For instance, according to the National Menopause Foundation, in the U.S., approximately 1.3 million women become menopausal each year between the ages of 51 and 52. About 5% of women experience early menopause between the ages of 40 and 45. Additionally, 1% of women experience premature menopause before the age of 40, due to permanent ovarian failure that may be associated with sex chromosome abnormalities.
By therapy type, the global hormone replacement therapy market is categorized into estrogen hormone replacement therapy, human growth hormone replacement therapy, thyroid hormone replacement therapy, testosterone hormone replacement therapy, and progestogen hormone replacement therapy. The estrogen hormone replacement therapy segment led the market in 2019, due to higher use of estradiol products in women post menopause or hysterectomy to help them maintain the hormonal balance. On the other hand, human growth hormone replacement therapy is expected to grow at fastest rate owing to increase in incidence of growth hormone deficiency (GHD) or dwarfism or pituitary dwarfism, majorly among infants. For instance, according to a survey organized by the WHO, about 15 million newborns are born premature and approximately 85% of these infants are not fully developed.
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On the basis of route of administration, the market is segregated into oral, parenteral, and others. The oral segment dominated the market in 2019, and is anticipated to grow faster during the forecast period. This is attributed to increase in preference for oral HRT products and consumption accordingly. Furthermore, it enables few patients to reduce the need to visit clinics for treatments, thereby decreasing healthcare cost.
Depending on indication, the market is categorized into menopause, hypothyroidism, male hypogonadism, growth hormone deficiency, and others. The menopause segment spearheaded the market in 2019. This is attributed to rising post-menopausal women population and widening menopausal window from 40 to 55 years. For instance, as per the National Menopause Foundation, in the U.S., approximately 1.3 million women become menopausal each year between the ages of 51 and 52. Thus, by 2030, population of menopausal and postmenopausal women is projected to increase to 1.2 billion globally.
Region wise, the global hormone replacement therapy market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America dominated the market in of revenue in 2019, owing to increase in launches of various generic products of hormone replacement therapy by manufacturers, surge in target population, and innovations in the drug delivery systems along with development of new formulations. On the other hand, the market in Asia-Pacific is expected to register the highest CAGR in terms of revenue during the forecast period, owing to surge in awareness about hormone replacement therapy, rise in prevalence of diabetes population, and increaser in focus of healthcare providers on reducing hormonal deficiencies in China, India, and Japan.
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The Major Key Players Are:
Abbott Laboratories, Bayer AG, Eli Lilly and Company, F. Hoffmann-La Roche Ltd. (Genentech, Inc.), Hisamitsu Pharmaceutical Co., Inc. (Noven Pharmaceuticals, Inc.), Merck KGaA, Mylan N.V. (Viatris Inc.), Novartis International AG, Novo Nordisk A/S, and Pfizer Inc.
Key findings of the study
- Depending on therapy type, the estrogen hormone replacement therapy segment led the hormone replacement therapy market in 2019.
- By route of administration, the parenteral segment held the largest value share of the hormone replacement therapy market in 2019, and is expected to maintain its dominance over the study period.
- As per indication, the menopause segment dominated the market in 2019, and is anticipated to continue this trend during forecast period.
- Region wise, North America occupied substantial revenue share of the hormone replacement therapy market in 2019, whereas Asia-Pacific is anticipated to grow with the highest CAGR during the forecast period.
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