Hormone Replacement Therapy Market Flourishes As Demand For Treatment Rises

AUSTIN, TEXAS, UNITED STATES, June 19, 2024 /EINPresswire.com/ -- The SNS Insider report estimates the Hormone Replacement Therapy Market Size at USD 22.69 billion in 2023, with a projected CAGR of 6.7% to reach USD 38.12 billion by 2031.

Rising Need For HRT Fuels Market Expansion: Innovation Offers Convenience, Affordability Key

The hormone replacement therapy (HRT) market is on an upward trend and this growth is driven by several factors, including a rise in the number of people with conditions treatable by HRT, such as thyroid disease. Additionally, the development of new, long-acting HRT products is making treatment more convenient. For example, the recent approval of a once-weekly growth hormone therapy for children highlights this trend.

However, the high cost of HRT remains a challenge like Injectable treatments can range from hundreds to thousands of dollars per year, even with insurance. This can limit patient access and hinder market expansion.

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List of Hormone Replacement Therapy Companies Profiled in Report:
• Abbott Laboratories
• AbbVie, Inc.
• ASCEND Therapeutics US, LLC.
• Bayer Ag
• Eli Lilly and Company
• Hisamitsu Pharmaceutical Co
• Hoffmann- LA Roche Ltd.
• Merck & Co., Inc.
• Novartis International
• Noven Pharmaceuticals, Inc.
• Novo Nordisk A/S
• Pfizer Inc.
• Viatris, Inc.

Key Market Segmentation
By Therapy Type
• Estrogen Hormone Replacement Therapy
• Human Growth Hormone Replacement Therapy
• Testosterone Hormone Replacement Therapy
• Others

By Route of Administration
• Oral
• Parenteral
• Others

By Indication
• Menopause
• Hypothyroidism
• Others

Segments Dynamics
By Product, the hormone replacement therapy (HRT) market is divided into different product categories. Estrogen & progesterone therapy, used to manage menopause symptoms, holds the largest share due to the rising number of women reaching menopause. In contrast, the parathyroid hormone replacement segment, though smaller, is expected to grow the fastest. This is driven by increasing awareness of hypoparathyroidism, a rare condition, and limited treatment options (currently only one approved product).

By Route Of Administration, the HRT market offers various delivery methods, with pills and tablets dominating due to their convenience. However, injectable options are gaining traction. Advancements like pen-based delivery systems and long-acting injections (like the recently approved NGENLA) are expected to boost patient compliance and market growth in the parenteral segment.

By Disease Type, Menopause is the leading driver of HRT use due to the growing global population of women over 50. However, the market for hypoparathyroidism treatments is poised for significant growth with new options like Ascendis Pharma's TransCon PTH, currently in late-stage trials, are expected to contribute to this rise alongside the increasing number of diagnoses.

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Regional Analysis
North America leads the HRT market with nearly 40% share, fueled by factors like new product approvals, industry collaborations, and supportive insurance policies. For example, the US FDA's green light for a once-weekly growth hormone therapy in 2020 highlights this trend. However, the Asia Pacific region is expected to see the fastest growth with a high prevalence of menopause symptoms in countries like China and India, the rising number of women reaching menopause is anticipated to be a key driver for HRT demand in this region.

Recent Developments
In a further boost to once-weekly growth hormone therapies, Korea's Ministry of Food and Drug Safety approved Pfizer's NGENLA in February 2023 for treating growth hormone deficiency.

Marking a significant advancement in growth hormone therapy for children, Ascendis Pharma A/S secured European Commission approval for SKYTROFA in January 2022. This groundbreaking medication offers the first-ever once-weekly treatment option for growth hormone deficiency in the pediatric population.

Key Takeaways Of The Hormone Replacement Therapy Market
• Understand the market potential and future trends to make informed business decisions.
• Gain insights into the factors influencing market growth and develop strategies to address limitations like affordability.
• Identify the most promising areas for investment and development based on current trends and unmet needs.
• Understand the regional dynamics and recent developments to stay ahead of the curve in a growing market.
• Leverage the report's data and analysis to identify profitable opportunities in the HRT market.

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Table of Content
Chapter 1 Introduction
Chapter 2 Research Methodology
Chapter 3 Hormone Replacement Therapy Market Dynamics
Chapter 4 Impact Analysis (COVID-19, Ukraine- Russia war, Ongoing Recession on Major Economies)
Chapter 5 Value Chain Analysis
Chapter 6 Porter’s 5 forces model
Chapter 7 PEST Analysis
Chapter 8 Hormone Replacement Therapy Market Segmentation, By Therapy Type
Chapter 9 Hormone Replacement Therapy Market Segmentation, By Route of Administration
Chapter 10 Hormone Replacement Therapy Market Segmentation, By Indication
Chapter 11 Regional Analysis
Chapter 12 Company profile
Chapter 13 Competitive Landscape
Chapter 14 Use Case and Best Practices
Chapter 15 Conclusion
Continued…

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Akash Anand
SNS Insider Pvt. Ltd
+1 415-230-0044
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