Hormone Replacement Therapy Market to Reach $46.50 Bn, Globally, by 2027 at 5.1% CAGR: Allied Market Research
PORTLAND, Ore., March 1, 2021 /PRNewswire/ -- Allied Market Research published a report, titled," Hormone Replacement Therapy Market by Therapy Type (Estrogen Hormone Replacement Therapy, Human Growth Hormone Replacement Therapy, Thyroid Hormone Replacement Therapy, Testosterone Hormone Replacement Therapy, and Progestogen Hormone Replacement Therapy), Route of Administration (Oral, Parenteral, and Others), and Indication (Menopause, Hypothyroidism, Male Hypogonadism, Growth Hormone Deficiency, and Others): Global Opportunity Analysis and Industry Forecast 20202027."
PORTLAND, Ore., March 1, 2021 /PRNewswire/ -- Allied Market Research published a report, titled, "Hormone Replacement Therapy Market by Therapy Type (Estrogen Hormone Replacement Therapy, Human Growth Hormone Replacement Therapy, Thyroid Hormone Replacement Therapy, Testosterone Hormone Replacement Therapy, and Progestogen Hormone Replacement Therapy), Route of Administration (Oral, Parenteral, and Others), and Indication (Menopause, Hypothyroidism, Male Hypogonadism, Growth Hormone Deficiency, and Others): Global Opportunity Analysis and Industry Forecast 2020–2027." According to the report, the global hormone replacement therapy industry was estimated at $31.06 billion in 2019, and is anticipated to hit $46.50 billion by 2027, registering a CAGR of 5.1% from 2020 to 2027.
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Drivers, restraints, and opportunities-
Rise in prevalence of menopausal disorder, increasing awareness about post-menopausal issues among women, and new launches of hormone replacement therapy fuel the growth of the global hormone replacement therapy market. On the other hand, certain adverse effects of hormone replacement therapy and high cost of treatment impede the growth to some extent. However, emergence of telemedicine for hormone replacement therapy is expected to pave the way for lucrative opportunities in the industry.
Covid-19 scenario-
- Fertility treatment, post menopause, has been affected during the pandemic, due to the evidence suggesting that falling estrogen levels could leave older women at heightened risk from the disease and the possibility that hormone withdrawal may speed up the progression of the virus in body. This factor has impacted the global hormone replacement therapy market negatively.
- Also, implementation of lockdown, during the initial phase, has also been detrimental to the growth of the market.
- However, things have started getting normalized yet again and the market is anticipated to revive soon.
The estrogen hormone replacement therapy segment to dominate by 2027-
Based on therapy type, the estrogen hormone replacement therapy segment contributed to more than two-fifths of the global hormone replacement therapy market share in 2019, and is expected to rule the roost by the end of 2027, owing to rise in use of estradiol products in women during post-menopause. The human growth hormone replacement therapy segment, on the other hand, would register the fastest CAGR of 7.1% during the forecast period.
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North America garnered the major share in 2019-
Based on region, North America held the major share in 2019, garnering more than two-fifths of the global hormone replacement therapy market, due to increasing launches of generic products of hormone replacement therapy by manufacturers, growth in target population, innovations in the drug delivery systems, and development of new formulations. Simultaneously, the region across Asia-Pacific would exhibit the fastest CAGR of 7.1% from 2020 to 2027. This is attributed to growing awareness about hormone replacement therapy, rising prevalence of diabetes population, and increasing focus of healthcare providers on reducing hormonal deficiencies in China, India, and Japan.
Key players in the industry-
- 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
- Pfizer Inc.
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