Hormone Replacement Therapy Market Size to Grow USD 18280 Million by 2030 at a CAGR of 1.5% | Valuates Reports
BANGALORE, India, June 10, 2024 /PRNewswire/ -- Hormone Replacement Therapy Market is Segmented by Type (Estrogen Hormone, Growth Hormone, Thyroid Hormone, Male Hypogonadism), by Application (Menopause, Hypothyroidism, Growth Hormone Deficiency, Male Hypogonadism).
The Hormone Replacement Therapy Market was estimated to be worth USD 16450 Million in 2023 and is forecast to a readjusted size of USD 18280 Million by 2030 with a CAGR of 1.5% during the forecast period 2024-2030.
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Major Factors Driving the Growth of Hormone Replacement Therapy Market:
The need for effective treatment methods, such as hormone replacement therapy (HRT), has increased due to the rising prevalence of menopausal symptoms among aging populations, especially in developed nations. Research developments in medicine have also allowed HRT to be used therapeutically for disorders other than menopause, including gender dysphoria and hypogonadism. Furthermore, more patients are seeking therapy as a result of growing understanding and acceptance of HRT's advantages in enhancing quality of life and lowering risks of osteoporosis and cardiovascular disorders. The industry is further propelled by innovations in formulations and delivery techniques that provide safer and more individualized solutions. Finally, more widespread availability to and use of HRT across the world is made possible by benevolent government policies and advancements in the healthcare system.
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TRENDS INFLUENCING THE GROWTH OF THE HORMONE REPLACEMENT THERAPY MARKET:
Because estrogen hormone treatment (EHT) is so successful at treating menopausal symptoms, it is a major market driver for hormone replacement therapy (HRT). As the world's female population ages, more women will go through menopause, which will increase the frequency of associated symptoms such as vaginal dryness, night sweats, and hot flashes. EHT successfully reduces these symptoms, which enhances many women's quality of life. Furthermore, more women are choosing EHT and seeking medical guidance as a result of increased awareness campaigns regarding menopause and its treatment alternatives. The HRT industry is being driven by this increased understanding and acceptance of EHT.
Growth hormone shortages are becoming more common, and scientific developments have led to a major increase in the use of growth hormone treatment (GHT). Thanks to improved diagnostic technologies and more access to healthcare, conditions such idiopathic short stature, chronic renal disease, and Turner syndrome are being identified more often. Growth hormone products are now safer and more effective because of advances in recombinant DNA technology, which also makes them more dependable and widely available. The availability of GHT is also being improved by the development of healthcare infrastructure in emerging nations, which is supporting the market's overall growth for HRT.
The market for thyroid hormone replacement treatment is being driven by the increased incidence of thyroid diseases, such as hyperthyroidism and hypothyroidism. Because hypothyroidism is characterized by inadequate synthesis of thyroid hormone, symptoms such as sadness, weight gain, and tiredness must be managed throughout life with hormone replacement therapy. The need for thyroid hormone replacement treatments is rising as more people are receiving diagnosis for thyroid problems, in part because of improved diagnostic methods and increased public awareness of health issues. Furthermore, the prevalence of autoimmune disorders such as Hashimoto's thyroiditis is rising, which drives up demand for thyroid hormone therapies and propels the market.
Hormone replacement therapy delivery method advancements are improving the efficacy and convenience of treatment. Transdermal patches, gels, and injectables are being used in addition to traditional techniques like oral pills because they provide more stable hormone levels and less negative effects. For example, compared to oral formulations, transdermal patches for estrogen treatment offer consistent hormone delivery and are less likely to result in liver problems. Growth hormone injections are convenient and provide accurate dosage, which enhances treatment compliance. The whole HRT market is being driven upward by these innovations in delivery techniques, which also improve patient happiness and compliance.
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HORMONE REPLACEMENT THERAPY MARKET SHARE ANALYSIS
The industry leaders, such as Novo Nordisk, Pfizer, AbbVie, and Eli Lilly, have high-end clientele and possess important patents and technology. Together, the top 5 firms own a 45.13% market share.
Because of its strong healthcare system, high rate of menopausal women, and high level of knowledge of the advantages of hormone replacement therapy, North America accounts for a sizable portion of the global HRT industry. Particularly the United States makes a substantial contribution by investing much in cutting-edge medical research and healthcare.
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Key Companies:
- Merck KGaA
- Mylan NV
- Bayer
- TEVA
- Novartis
- Abbott
- Roche
- Endo International
- Ipsen S A
- ANI Pharmaceuticals
- TherapeuticsMD
- Novo Nordisk
- Eli Lilly
- Pfizer Inc
- AbbVie
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DISCOVER MORE INSIGHTS: EXPLORE SIMILAR REPORTS!
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