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Global Hormone Replacement Therapy Market Expected to Deliver Dynamic Progression until 2028|| Market Drivers are Novartis AG, Novo Nordisk A/S, Teva Pharmaceuticals, Mylan N.V, Pfizer Inc.
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Tier 1 hormone replacement therapy companies are focused on carrying out clinical trials for new product development (NPD). Moreover, these companies are adopting vertical, horizontal and backward integration in a bid to achieve rapid expansion and pace in technological development.
In addition, tier 1 hormone replacement therapy companies are forming alliances to co-develop and commercialize hormone replacement therapy drugs. For instance, Pfizer Inc., and Merck KGaA have formed a strategic alliance to develop avelumab (BAVENCIO) to manage hypothyroidism and other thyroid disorders.
Agreement between FDA and NASEM to Impact Hormone Replacement Therapy Market Growth
Food and Drug Administration (FDA) has signed an agreement with NASEM (National Academies of Science, Engineering & Medicine) and is carrying out expanded agreements with University of Maryland and Johns Hopkins University Centers for Regulatory Science and Innovation. Main focus behind this initiative was to conduct research and inform consumers regarding compounded drugs.
NASEM is examining the utility of treating individuals with compounded BHRT (Bioidentical Hormone Replacement Therapy) products. Compounded Bioidentical hormone replacement therapy products such as testosterone and progesterone are used instead of FDA approved hormone replacement therapy drugs as BHRT drugs are considered more safe and natural for patients. This factor is likely to impact the clinical trials of new hormone replacement therapy products in turn challenging the growth of hormone replacement therapy market.
Use of Low Cost Generic Versions of Hormone Replacement Therapy Drugs – An Upcoming Trend
Affordability has always remained a major challenge for any pharmaceutical drug or formulation. Moreover, insufficient healthcare reimbursements have resulted in individuals opting for cheaper drugs with unclear drug effectiveness. This prompted manufactures of hormone replacement therapy drugs to produce generic versions of the formulations in a bid to bridge the gap between purchasing power of people and hormone replacement therapy drug pricing. Companies developing generic hormone replacement therapy drugs are also acquiring FDA approvals, which is direct inference apropos to drug effectiveness. For instance, Teva pharmaceuticals has introduced generic version of Estrace cream and estradiol vaginal cream in 2018. The trend is expected to auger well for the overall growth of the hormone replacement therapy market.
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Hormone Replacement Therapy Associated with Reduced Dementia – Key Growth Propellant
Hormone replacement therapy can protect memory which is required to carry out short-term cognitive tasks after menopausal stress. Estrogen-only hormone replacement therapy can facilitate lower stress levels without impacting memory. In addition, hormone replacement therapy also reduces possibilities of both vascular dementia and Alzheimer’s disease.
Combination Hormone Replacement Therapy Associated with Cancer – Key Growth Deterrent
Use of hormone replacement therapy can lead to cancerous cell development. The use of combination hormone replacement therapy (combination of progesterone and estrogen) can increase the risk of breast cancer by 75 percent even if used for a short timeframe. According to the U.S Women’s Health Initiative, the use of combination hormone replacement therapy comes with the risk of development of several cancers including ovarian and uterus cancers. This aspect is expected to confine the growth in adoption of hormone replacement therapy in the forthcoming years. Other hormone replacement therapy related disorders such as stroke, cardiac disorders and blood clots are further expected to negatively impact the growth of the hormone replacement therapy market.
Competitive Landscape
The report on hormone replacement therapy market offers intelligence on key participants in the hormone replacement therapy market. The key companies involved in the formulation of hormone replacement therapy products are thoroughly assessed and profiled in the report. Various facets of competition including SWOT analysis, product portfolio analysis, drug developments and innovations, strategies and key financials are covered. Key companies profiled in the report include Novartis AG, Novo Nordisk A/S, Teva Pharmaceuticals, Mylan N.V and Pfizer Inc.
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