2018 - 2026
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The Hormone Replacement Therapy Market was valued at approximately USD 17,376.73 million in 2020 and is expected to witness a revenue of USD 26,847.46 million by 2026, with a CAGR of 7.59% over the forecast period.
The COVID-19 pandemic is expected to have a significant impact on the home replacement therapy market. There has been an increasing number of research studies being carried out to find the application of hormone replacement therapy in COVID-19 infected patients. For instance, as per the research article published in BMC Medicine, 2020, the survival rate was in post-menopausal women who are infected with SARS-CoV-2 was found to be high, who were on a regular dose of exogenous estradiol for postmenopausal complaints. Additionally, a phase 2 clinical trial was initiated by the Stony Brook University, in April 2020, to evaluate the role of estrogen in reducing the severity of COVID19 symptoms compared to regular care, with the administration of estradiol through a transdermal patch for a short duration of 7 days. Hence, owing to the aforementioned factors, Hormone replacement therapy is expected to play a promising role in the development of novel therapeutics for the effective treatment against SARS-CoV2 virus infection, which in turn leads to the growth of the studied market during the pandemic.
Certain factors that are positively affecting the Hormone Replacement Therapy (HRT) market growth are increasing awareness on post-menopausal issues among women, rise in drug development with novel delivery systems, and hormonal imbalance disorders with the rising geriatric population.
According to the United Nations, World Population Ageing, 2019 report, as of 2050, women population is estimated to comprise 54 per cent of the global population aged 65 or over, with a life expectancy at birth of 74.7 years in 2019. With various kinds of hormonal changes, the female body predominantly gets affected by the natural process of aging, leading to abnormalities and diseases. Some of the common problems include weight gain, memory decline, fatigue, low libido, aging appearance, and muscle loss.
The most frequently reported consequence of age-related hormonal changes occurs in cases related to menopause. The global average onset age for menopause among women is approximately 50 years. In women, by the age of 50 years and above, the production levels of estrogen and progesterone decrease significantly. The decrease in production levels of estrogen and progesterone are compensated by the pituitary gland, with the increased production of follicle-stimulating hormone (FSH). This is physically manifested in women in the form of post-menopause symptoms, which include flush. These factors associated with age lead to the rising demand for HRT, thus driving the market studied.
Additionally, the growing research and development activities by the key players in the discovery of novel therapetics for treatment of hormonal imbalances and rising product approvals is expected to aid in the positive growth of the studied market over the forecast period. However, the high cost of hormone replacement therapy and the risk of developing cancers with HRTs is anticipated to hamper the market growth globally.
Scope of the Report
Hormone replacement therapy (HRT) is a treatment technique for replacing and/or replenishing hormones in the human body, which are at inadequate levels than those required for the normal physiology of the human body. The most prominent application of HRT is in the treatment of symptom alleviation of menopause. The Hormone Replacement Therapy Market is segmented by Therapy (Estrogen Hormone Replacement, Growth Hormone Replacement, Thyroid Hormone Replacement, and Testosterone Replacement), Route of Administration (Oral, Parenteral and Other Routes of Administration), Indication (Menopause, Hypothyroidism, Growth Hormone Deficiency, and Other Indications), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The report offers the value (in USD million) for the above segments.
|Estrogen Hormone Replacement|
|Growth Hormone Replacement|
|Thyroid Hormone Replacement|
|By Route of Administration|
|Other Routes of Administration|
|Growth Hormone Deficiency|
Key Market Trends
In Indication Menopause is Expected to Grow at Healthy CAGR over Forecast Period
Menopause is the time that marks the end of women's menstrual cycles. It is diagnosed after a woman had gone 12 months without a menstrual period. Menopause can happen at an age ranging between 40stor 50s. Menopause is a natural biological process. Hormone replacement therapy improves the quality of life and prolongs life for many elderly women, whether it is initiated at menopause or much later. The therapy helps elderly women maintain their estrogen levels.
This application is expected to rise in the future as the geriatric population globally is increasing. As the women reach the end of the reproductive stage, the levels of estrogen lower, which could lead to mood swings, depression, and anxiety along with certain physical changes. Hormone replacement therapy, with estrogen hormone, plays a vital role in combating the complications associated with menopause in the aging women population. According to the research article published in the Journal of Menopausal Medicine, 2020, nearly 75% of women experience the symptoms of menopause between the age of 45-55 years, which has lead to a reduction of self-esteem among them. Hence, combination therapy of levonorgestrel releasing-intrauterine system (LNG-IUS) with oral or percutaneous estrogen, low-dose combined oral contraceptives (COCs), and estrogen-progestogen therapy (EPT) are usually suggested HRTs for treating the symptoms of menopause during the menopausal transition.
Additionally, the rise in product approvals is expected to drive the segment growth. For instance, in October 2018, US FDA approved bioidentical estradiol and progesterone capsules (Bijuva) of TherapeuticsMD as hormone therapy for menopausal women suffering from moderate to severe vasomotor symptoms. Thus, owing to the aforementioned factors the menopause indication segment is expected to witness significant growth over the forecast period.
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North America Holds the Largest Market Share and is Expected to do the same Over the Forecast Period
The rising geriatric population is one of the primary factors responsible for the growth of the hormonal replacement therapy market in the North American region, especially in the United States and Canada.
According to the National Institutes of Health (NIH), almost half of all the postmenopausal women in the United States reported having used HRT at least once in their life. Also, according to a research article published in Statpearls, 2021, nearly 1.3 million American women enter into the menopause phase each year in the United States. The conjugated equine estrogens (CEE)/bazedoxifene tablet, a combination of estrogen and a selective estrogen receptor modulator, is available in the United States for menopausal VMS treatment and osteoporosis prevention.
Additionally, as per the American Thyroid Association (ATA), more than 12 percent of the population in the United States are predicted to experience a thyroid disorder during the lifetime, and nearly 20 million Americans being affected with some form of thyroid disease every year. Thus, the high incidence of thyroid hormone imbalance among the population in the United States is expected to boost the studied market in the region.
Also, in August 2020, US FDA approved Sogroya (somapacitan), a human growth hormone (hGH) therapy for adult patients with growth hormone deficiency and is indicated to be taken once a week by injection under the skin. Thus, the high trend of product approvals is also expected to drive the studied market in the region.
Overall, the market for HRT in North American is scheduled for high growth over the forecast period. The major drivers of this market are expected to increase the adoption of HRT among women, for both post-menopausal and menopause management.
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The market is moderately competitive with few major players dominating the market globally. The key companies are Abbott laboratories, Bayer AG, Merck KGaA, Novartis AG, and Pfizer Inc. However, there are efforts being made by new players to enter the hormone replacement therapy market. Additionally, the key players are focused on global product portfolio expansion through strategies such as acquisitions and collaborations with companies that complement the portfolio. For instance, in December 2020, US FDA approved Thyquidity (levothyroxine) oral solution, of VistaPharm, for replacement therapy of primary (thyroidal), secondary (pituitary), and tertiary (hypothalamic) congenital or acquired hypothyroidism, along with an additional approval as an adjunct to surgery and radioiodine therapy in the management of thyrotropin-dependent well-differentiated thyroid cancer.
In December 2020, US FDA approved the Myovant Sciences' Orgovyx (relugolix), which is an orally administered treatment that works by blocking the pituitary gland from making hormones called luteinizing hormone and follicle-stimulating hormone, thus leading to the reduction in the amount of testosterone produced by the testicles. Thus, aiding in the treatment of adult patients with advanced prostate cancer.
In August 2020, Bayer AG announced the acquisition of KanDy Therapeutics, Inc, which aids in the expansion of Bayer's women's drug pipeline by adding KanDy's menopause drug to it portfolio.
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Awareness on Post-menopausal Issues among Women
4.2.2 Rise in Drug Development with Novel Delivery Systems
4.2.3 Hormonal Imbalance Disorders with Rising Geriatric Population
4.3 Market Restraints
4.3.1 High Cost of Hormone Replacement Therapy
4.3.2 Substantial Risk of Cancer Associated with Hormone Replacement Therapy
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Therapy
5.1.1 Estrogen Hormone Replacement
5.1.2 Growth Hormone Replacement
5.1.3 Thyroid Hormone Replacement
5.1.4 Testosterone Replacement
5.2 By Route of Administration
5.2.3 Other Routes of Administration
5.3 By Indication
5.3.3 Growth Hormone Deficiency
5.3.4 Other Indications
5.4.1 North America
126.96.36.199 United States (By Therapy, By Route of Administration, and By Indication)
188.8.131.52 Canada (By Therapy, By Route of Administration, and By Indication)
184.108.40.206 Mexico (By Therapy, By Route of Administration, and By Indication)
220.127.116.11 Germany (By Therapy, By Route of Administration, and By Indication)
18.104.22.168 United Kingdom (By Therapy, By Route of Administration, and By Indication)
22.214.171.124 France (By Therapy, By Route of Administration, and By Indication)
126.96.36.199 Italy (By Therapy, By Route of Administration, and By Indication)
188.8.131.52 Spain (By Therapy, By Route of Administration, and By Indication)
184.108.40.206 Rest of Europe (By Therapy, By Route of Administration, and By Indication)
220.127.116.11 China (By Therapy, By Route of Administration, and By Indication)
18.104.22.168 Japan (By Therapy, By Route of Administration, and By Indication)
22.214.171.124 India (By Therapy, By Route of Administration, and By Indication)
126.96.36.199 Australia (By Therapy, By Route of Administration, and By Indication)
188.8.131.52 South Korea (By Therapy, By Route of Administration, and By Indication)
184.108.40.206 Rest of Asia-Pacific (By Therapy, By Route of Administration, and By Indication)
5.4.4 Middle East and Africa
220.127.116.11 GCC (By Therapy, By Route of Administration, and By Indication)
18.104.22.168 South Africa (By Therapy, By Route of Administration, and By Indication)
22.214.171.124 Rest of Middle East and Africa (By Therapy, By Route of Administration, and By Indication)
5.4.5 South America
126.96.36.199 Brazil (By Therapy, By Route of Administration, and By Indication)
188.8.131.52 Argentina (By Therapy, By Route of Administration, and By Indication)
184.108.40.206 Rest of South America (By Therapy, By Route of Administration, and By Indication)
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Company Profiles
6.1.1 Abbott Laboratories
6.1.2 Bayer AG
6.1.3 Eli Lilly and Company
6.1.4 F. Hoffmann-La Roche
6.1.5 Hisamitsu Pharmaceutical Co. Inc.
6.1.6 Merck KGaA
6.1.7 Mylan NV
6.1.8 Novartis AG
6.1.9 Novo Nordisk AS
6.1.10 Pfizer Inc.
6.1.12 Genentech, Inc.
6.1.13 Abbvie Inc. (Allergan plc)
6.1.14 Noven Pharmaceuticals, Inc.
6.1.15 Orion Pharma
6.1.16 TherapeuticsMD, Inc.
6.1.17 Teva Pharmaceutical Industries Ltd
6.1.18 Dr. Reddys Laboratories Ltd
6.1.19 Sanofi S.A.
6.1.20 Boehringer Ingelheim
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Global Hormone Replacement Therapy Market market is studied from 2018 - 2026.
What is the growth rate of Global Hormone Replacement Therapy Market?
The Global Hormone Replacement Therapy Market is growing at a CAGR of 7.59% over the next 5 years.
What is Global Hormone Replacement Therapy Market size in 2018?
The Global Hormone Replacement Therapy Market is valued at 17376.73 Million USD in 2018.
What is Global Hormone Replacement Therapy Market size in 2026?
The Global Hormone Replacement Therapy Market is valued at 26847.46 Million USD in 2026.
Which region has highest growth rate in Global Hormone Replacement Therapy Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Global Hormone Replacement Therapy Market?
North America holds highest share in 2020.
Who are the key players in Global Hormone Replacement Therapy Market?
- Abbott Laboratories
- Novartis AG
- Pfizer Inc.
- Merck KGaA
- Bayer AG
Are the major companies operating in Global Hormone Replacement Therapy Market.