*As the coronavirus disease (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.
Hormone Replacement Therapy Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026
Hormone replacement therapy (HRT) is used for replenishing the hormones that are present in low levels in the human body. This treatment is particularly favourable for patients with growth hormone deficiency, women nearing menopause and elderly people suffering from hypogonadism. HRT is available in several forms such as skin and mouth patches (transdermal), gels, injections and implants. However, HRT may not be suitable for patients who have a history of blood clots, liver disease and untreated high blood pressure. This therapy may also include some adverse effects like bloating, swelling, nausea, leg cramps, headaches, indigestion, increased cholesterol levels and a rise in the number of red blood cells. According to the latest 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 reached a value of US$ 8.16 Billion in 2020.
A surge in the incidences of hormone imbalance disorders in the geriatric and neonatal populations is primarily driving the market growth. The rising need for new treatment options with better safety results is further boosting the demand for (HRT) hormone replacement therapy. Additionally, aggressive marketing and direct selling campaigns by the key players along with the development of new gel-based formulations creates an attractive market for these therapies. Moreover, increasing awareness among the consumers and the presence of regularly monitored formulations are some of the other drivers stimulating the growth of the market. Looking forward, IMARC Group expects the global hormone replacement therapy market to exhibit moderate growth during the next five years.
Based on product, estrogen replacement therapy accounts for the majority of the market share. Other types include human growth hormone replacement therapy, testosterone replacement therapy, thyroid replacement therapy and others.
On the basis of route of administration, the report has segmented the market on the basis of oral, parenteral and transdermal segments.
On the basis of disease, the report has segmented the market on the basis of menopause, hypothyroidism, male hypogonadism, growth hormone deficiency and Others.
Region-wise, the market has been segmented into North America, Asia Pacific, Europe, Middle East and Africa, and Latin America. Amongst these, North America is the largest market, accounting for the majority of the market share.
The report has also analysed the competitive landscape of the market with some of the key players being Abbott Laboratories, Bayer AG, Eli Lilly & Company, Roche, Hisamitsu Pharmaceutical Co. Inc., Merck, Mylan, Novartis, Novo Nordisk and Pfizer.
This report provides a deep insight into the global hormone replacement therapy market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the hormone replacement therapy market in any manner.
Sudden outbreak of the COVID-19 pandemic had led to the limited number of hospital visits for mitigating the risk of coronavirus transmission, thereby hampering the demand for elective hormone replacement therapy across the globe.
On the basis of the product type, the market has been bifurcated into estrogen replacement therapy, human growth hormone replacement therapy, testosterone replacement therapy, thyroid replacement therapy, and others. Amongst these, estrogen replacement therapy holds the majority of the total market share.
On the basis of the route of administration, the market has been classified into oral, parenteral, and transdermal segments. At present, parenteral route of administration exhibits a clear dominance in the market.
On the basis of type of disease, the market has been categorized into growth hormone deficiency, hypothyroidism, menopause, male hypogonadism, and others. Currently, menopause accounts for the majority of the total market share.