Fact.MR – A Market Research and Competitive Intelligence Provider: The hormone replacement therapy market is projected to grow at a robust pace during the forecast period from 2018 to 2028, predicts Fact.MR.
Burgeoning Adoption of Estrogen Hormone Replacement Therapy to Push the Global Hormone Replacement Therapy Demand Past US$ 1.2 Bn
Fact.MR presents a detailed outlook of the global hormone replacement therapy market from the period of 2018 to 2028 in its latest study. It also includes the assessment of the leading segments in terms of product type, dosage form, indication, distribution channel, and region.
Fact.MR – A Market Research and Competitive Intelligence Provider: The hormone replacement therapy market is projected to grow at a robust pace during the forecast period from 2018 to 2028, predicts Fact.MR. Increasing affordability of these therapy products is likely to drive the market in the forthcoming years.
Hormone replacement therapy is primarily used for the treatment of symptoms related to female menopause. These symptoms include vaginal dryness, hot flashes, bone loss, skin aging, sexual dysfunction, vaginal atrophy, and low muscle mass.
As per Fact.MR, rising prevalence of osteoporosis among women is likely to bolster the growth in this market. This condition increases the gap between spine bones and reduces the estrogen levels during menopause.
For instance, the International Osteoporosis Foundation (IOF) states that osteoporosis causes approximately 8.9 million fractures worldwide every year. Also, by 2050, more than 50% of all osteoporotic hip fractures are set to occur in Asia.
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Besides, several government agencies are working together to conduct extensive research & development activities in the field of hormone replacement therapy. The National Academies of Science, Engineering & Medicine (NASEM), for instance, is currently investigating the usage of bioidentical hormone replacement therapy products to treat women during menopause.
Against this backdrop, Fact.MR estimates the global hormone replacement therapy market sales are projected to surpass US$ 1.2 Bn over the forecast period.
“Increasing development of the generic versions of branded formulations is set to bridge the gap between the product pricing and purchasing power of people. In addition, various manufacturers of generic drugs are likely to acquire FDA approvals for their products in the near future, thereby propelling the demand,” says a Fact.MR analyst.
Key Takeaways:
- By indication, the menopause segment is projected to hold the largest market share owing to the rising number of aging women worldwide.
- Based on product type, the estrogen hormone replacement therapy segment is likely to dominate as the need to maintain the hormonal balance during post-menopause surges.
- In terms of therapy, estrogen hormone replacement therapy segment is expected to reach US$ 1.8 Bn by the end of 2028
- In terms of dosage form, the tablets segment is anticipated to hold the lion’s share as it is considered to be the most effective way to treat menopause.
- By region, North America is expected to lead in terms of share owing to the rising prevalence of thyroid disorder across the U.S.
- Asia Pacific is estimated to account for the second-largest share on the backdrop of rising cases of diabetes and higher awareness regarding hormone replacement therapy across India and China.
Growth Drivers:
- Rising usage of estrogen-only hormone replacement therapy to facilitate lower stress levels without impacting one’s memory is anticipated to boost the growth.
- Ability to protect the memory for carrying out short-term cognitive tasks after menopausal stress of this therapy is set to drive the market.
- Signing of an agreement between the FDA and NASEM to conduct research activities on compounded drugs is projected to spur the market.
Restraints:
- Replacement of FDA approved therapies with compounded bioidentical hormone replacement therapy products may limit the growth in this market.
- Lack of favorable healthcare reimbursements is set to increase the shift of consumers towards low-cost products with unclear drug effectiveness.
- Various side-effects associated with the hormone replacement therapy, such as blood clots, cardiac disorders, and stroke may hinder its demand.
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Competitive Landscape
Top five players operating in the hormone replacement therapy market include Novo Nordisk, Pfizer Inc., Janssen NV (a Johnson & Johnson company), Novartis AG and Bayer AG. Together, these players account for about 35% of the revenue share. They are focusing on the development of unique formulations.
Meanwhile, some of the other players are engaging in mergers & acquisitions and fast track approvals to broaden their existing portfolios and distribute novel products in the market.
For instance,
- January 2021: Myovant Sciences, a developer of innovative medicines headquartered in the U.K., received the U.S. Food and Drug Administration (FDA) approval for the usage of ORGOVYX (relugolix). It will be available through authorized specialty distributors and will be utilized to treat adult patients suffering from advanced prostate cancer. ORGOVYX is the company’s first and the only oral gonadotropin-releasing hormone (GnRH) receptor antagonist.
- August 2020: Bayer, a multinational pharmaceutical and life sciences company based in Germany, acquired KaNDy Therapeutics Ltd., a U.K.-based private clinical-stage biotech. This acquisition would enable Bayer to broaden its drug development pipeline in the women’s healthcare segment. It will also include the non-hormonal oral treatment option for women during menopause. The company is aiming to address the unmet need for medicines of women across the globe.
Key Players in the Hormone Replacement Therapy Market Include:
- Novo Nordisk
- Pfizer Inc.
- Janssen NV (a Johnson & Johnson Company)
- Novartis AG
- Bayer AG
- Mylan N.V
- Abbott Laboratories
- Hoffmann-la Roche ltd.
- Eli Lily and Company
- Hisamitsu Pharmaceutical Co., Inc.
- Merck KGAA
- Others
More Valuable Insights on Hormone Replacement Therapy Market
Fact.MR provides an unbiased analysis of the hormone replacement therapy market, presenting historical demand data (2012-2017) and forecast statistics for the period from 2018-2028. The study divulges compelling insights on the global hormone replacement therapy market with a detailed segmentation on the basis of:
Product Type
- Estrogen Hormone Replacement Therapy
- Thyroid Hormone Replacement Therapy
- Growth Hormone Replacement Therapy
Dosage Form
- Tablets
- Patches
- Injections
- Implants
- Creams
Indication
- Menopause
- Osteoporosis
- Thyroid
- Growth Hormone Deficiency
Distribution channel
- Hospital Pharmacies
- Clinics
- Retail Pharmacies
- Online Pharmacies
Region
- North America
- Latin America
- Europe
- Asia Pacific excluding Japan (APEJ)
- Middle East and Africa (MEA)
Key Questions Covered in Hormone Replacement Therapy Market Report
- The report offers insight into the hormone replacement therapy market demand outlook for 2018-2028.
- The market study also highlights projected sales growth for hormone replacement therapy market between 2018 and 2028.
- Hormone replacement therapy market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry.
- Hormone replacement therapy market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others.
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