Hormone Replacement Therapy Market Worth $35.79 Billion by 2030 - Grand View Research Inc.

SAN FRANCISCO, July 13, 2022 /PRNewswire/ -- The global hormone replacement therapy market is expected to reach USD 35.79 billion by 2030, according to a new study by Grand View Research Inc. expanding at a CAGR of 6.4% from 2022 to 2030. The growth in the hormone replacement therapy market is largely attributable to the rising prevalence of hormonal disorders coupled with technological advancements in drug delivery systems. According to the National Organization of Rare Diseases, there are around 70,000 people with hypoparathyroidism in the U.S.

Key Industry Insights & Findings from the report:

• Based on the product, the estrogen & progesterone replacement therapy segment dominated the market in 2021 and is estimated to maintain its dominance during the forecast period due to high demand due to the increasing number of women reaching menopause.
• Parathyroid hormone replacement therapy is anticipated to witness the fastest growth during the forecast period due to the rising adoption of hormone replacement for the treatment of hypoparathyroidism.
• Based on the route of administration, the oral segment dominated the market in 2021 owing to the high prescription rate. Around 120 million prescriptions of Levothyroxine sodium tablets are being dispensed annually in the U.S.
• Parenteral is expected to witness the fastest growth. The development and approval of long-acting products are expected to boost segment growth. For instance, in October 2021, Pfizer, Inc. received approval for its NGENLA (somatrogon), a once-a-week long-acting recombinant human growth hormone, from Health Canada for the treatment of a patient with growth hormone deficiency.
• Menopause disease type segment dominated the market in 2021 due to the rising number of women in the age group of 45 to 60 years and increasing incidence of vasomotor symptoms that may lead to severe conditions, such as osteoporosis, which are projected to fuel market growth.

Read 123-page market research report, "Hormone Replacement Therapy Market Size, Share & Trend Analysis By Product (Estrogen & Progesterone Replacement Therapy), By Route Of Administration, By Disease Type, By Region, and Segment Forecasts, 2022 - 2030", published by Grand View Research.

Hormone Replacement Therapy Market Growth & Trends

Technological advancements to minimize the side effects and enhance drug bioavailability are expected to boost the market growth. Due to better bioavailability, the treatment frequency increases. Products such as NGENLA, which is used to treat growth hormone deficiency, require a once-a-week dosage, which ensures better patient compliance. Furthermore, improvement in the route of administration is expected to boost the adoption of products. For instance, intranasal estrogen medication such as Nafarelin is comparatively more compliant in women than the conventional method.

Companies are taking initiatives such as collaboration, partnership, and agreement to expand their business footprint and generate revenue. For instance, in September 2021, Merck & Co., Inc. entered into an agreement with BIOCORP, a French company, for the development and distribution of the HGH monitoring device, Mallya. It is used to monitor and track daily HCG treatment. Such strategies are anticipated to propel the market growth during the forecast period.

Moreover, the launch of new hormone replacement therapy medicines in the market is anticipated to drive market growth. For instance, in November 2021, Fuji Pharma Co, Ltd. announced the launch of F-meno (100 mg capsule) for the prevention of endometrial hyperplasia on the administration of estrogen drugs for menopausal disorders. F-memo is an orally administered drug and is included in Japan's National Health Insurance Drug Price list. This initiative may boost the prescription rate for hormone replacement therapy drugs, thereby driving the market growth.

However, severe adverse effects act as key restraints for market growth. The FDA has identified certain drugs in estrogen therapy that can cause adverse reactions and increase the risk of cancer in women. Premarin and Prempro, manufactured by Pfizer, are found to be associated with inducing cancer.

Hormone Replacement Therapy Market Segmentation

Grand View Research has segmented the hormone replacement therapy market by product, route of administration, disease type, and region:

Hormone Replacement Therapy Market - Product Outlook (Revenue, USD Billion; 2018 - 2030)

• Estrogen and Progesterone Replacement Therapy
• Human Growth Hormone (HGH) Replacement Therapy
• Thyroid Hormone Replacement Therapy
• Testosterone Replacement Therapy
• Parathyroid Replacement Therapy

Hormone Replacement Therapy Market - Route of Administration Outlook (Revenue, USD Billion, 2018 - 2030)

• Oral
• Parenteral
• Transdermal
• Others

Hormone Replacement Therapy Market - Disease Type Outlook (Revenue, USD Billion, 2018 - 2030)

• Menopause
• Hypothyroidism
• Male Hypogonadism
• Growth Hormone Deficiency
• Hypoparathyroidism

Hormone Replacement Therapy Market - Regional Outlook (Revenue, USD Billion; 2018 - 2030)

• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• France
• Italy
• Spain
• Asia Pacific
• Japan
• China
• India
• Australia
• South Korea
• Latin America
• Brazil
• Mexico
• Argentina
• MEA
• South Africa
• Saudi Arabia
• UAE

List of Key Players of Hormone Replacement Therapy Market

• Eli Lilly and Company
• Bayer AG
• Noven Pharmaceuticals, Inc.
• Pfizer Inc.
• Merck & Co., Inc.
• Viatris, Inc.
• Novo Nordisk A/S
• F. Hoffmann-La Roche Ltd.
• ASCEND Therapeutics US, LLC.
• AbbVie, Inc.

Check out more related studies published by Grand View Research:

• Hemophilia Market - The global hemophilia market size is expected to reach USD 18.1 billion by 2027, according to a new report by Grand View Research, Inc. It is anticipated to register a CAGR of 5.5% over the forecast period. Increasing R&D initiatives especially on identifying therapeutic agents is one of the major factors expected to positively impact market growth.
• Human Growth Hormone Market - The global human growth hormone market size is expected to reach a value of USD 8.5 billion by 2027, registering a CAGR of 8.2% over the forecast period, according to a new report by Grand View Research, Inc. Factors such as investments by market players, the presence of a strong pipeline, extensive R&D activities, robust product portfolio, and increasing government initiatives are expected to significantly drive the market.
• Uveitis Treatment Market - The global uveitis treatment market size is expected to reach USD 765.31 million by 2026, according to a new report by Grand View Research, Inc. It is projected to register a CAGR of 5.8% during the forecast period. Rising prevalence of the condition is anticipated to drive the growth. For instance, according to The Ocular Immunology and Uveitis Foundation, around 43,000 new eye inflammation cases are being diagnosed each year in U.S.

Browse through Grand View Research's Pharmaceuticals Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Contact:

Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
Web: https://www.grandviewresearch.com
Grand View Compass | Astra ESG Solutions
Follow Us: LinkedIn | Twitter

Logo: https://mma.prnewswire.com/media/661327/Grand_View_Research_Logo.jpg