Hormone Replacement Therapy Market Poised for Heightened Growth in Healthcare Sector Along with Eminent Players by 2026 Novartis AG, Abbott Laboratories, Mylan N.V., Merck KgaA, Bayer AG, Pfizer Inc., Novo Nordisk A/S, QuatRx Pharmaceuticals
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Robust pipeline is also expected to support growth of the hormone replacement therapy market size. For instance, Somapacitan sponsored by Novo Nordisk A/S, a Denmark-based company, completed phase 3 clinical trials in 2017. This drug is used for the treatment of growth hormone deficiency in adults.
The global hormone replacement therapy market size was valued at US$ 10.58 billion in 2017 and is expected to witness a CAGR of 5.2% over the forecast period (2018 – 2026).
Increasing number of people suffering from hypogonadism and rising adoption of testosterone products in various economies is expected to propel overall growth of the market. According to the data published in the European Association of Urology Journal: 2017, testosterone prescription trends in the U.S. exhibited an increase between 1.8- and 4-fold over the last two decades (1997 - 2017). Moreover, from 2000 to 2011, there was a 4.3-fold increase in testosterone testing when compared to a 3.7-fold increase in prescriptions.
Rising number of generic versions of hormone replacement therapies by various manufacturers will drive growth of the market in terms of volume and value. For instance, Teva Pharmaceutical Industries Ltd. launched the generic Axiron1 (testosterone) topical solution CIII, 30 mg/1.5 mL, in the U.S. on August 18, 2017 to treat adult males who have low or no testosterone due to certain medical conditions. This solution was supplied in a metered dose pump with an underarm applicator.
However, high cost associated with the replacement therapy and complex reimbursement scenario that causes excluding of the therapy from coverage by insurers, as it is a rare disease, hampers growth of the hormone replacement therapy market.
Increasing prevalence of various chronic conditions are expected to drive growth of the hormone replacement therapy market:
Increasing prevalence of hypogonadism in adult men worldwide is expected to drive growth of the hormone replacement therapy market.
According to the European Association of Urology: 2016 report, in middle-aged men, the incidence of hypogonadism varies from 2.1% to 12.8%. The incidence of low testosterone and symptoms of hypogonadism in men aged 40-79 varies form 2.1% to 5.7%, in Europe.
Ease in access and government support for research and development activities is expected to aid in growth of the hormone replacement therapy market. Financial help by NGOs such as the National Gaucher Society help patients receive enzyme replacement therapy that are costly.
Hormone Replacement Therapy Market - Regional Insights:
On the basis of region, the global hormone replacement therapy market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America is expected to hold dominant position in the global hormone replacement therapy market, owing to continuous launch of various generic products for hormone replacement therapies by manufacturers.
Furthermore, Europe is expected to be the second largest contributor to the hormone replacement therapy market, in terms of revenue and is expected to gain significant traction in the near future. This is owing to launch of new drugs and therapies to combat secondary hyperparathyroidism and presence of significant population suffering from the disease in this region.
For instance, in December 2016, Amgen’s drug etecalcetide (Parsabiv) received marketing approval in Europe by the European Commission for the treatment of secondary hyperparathyroidism in adult patients with chronic kidney diseases.
Asia Pacific is expected to witness fastest growth over the forecast period, owing to increasing healthcare associated issues with rising incidence of chronic diseases, high prevalence of hypogonadism in men with type II diabetes mellitus, and rising prevalence of diabetes population in this region.
For instance, according to the International Diabetes Federation (IDF) Diabetes Atlas: 2017, number of people suffering from diabetes aged between 20 to 79 years in South East Asia region and Western Pacific region in 2017, was 82 million and 159 million, respectively.
Global Key Players:
Key players operating in the global hormone replacement therapy market include
• Novartis AG
• Abbott Laboratories
• Mylan N.V.
• Merck KgaA
• Bayer AG
• Pfizer Inc.
• Novo Nordisk A/S
• QuatRx Pharmaceuticals
• Teva Pharmaceutical Industries Ltd.
• Amgen, Inc.
• Eli Lilly and Company.
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Global Hormone Replacement Therapy Market, By Therapy Type:
• Estrogen Replacement Therapy
• Human Growth Hormone (HGH) Replacement Therapy
• Thyroid Replacement Therapy
• Testosterone Replacement Therapy
Global Hormone Replacement Therapy Market, By Route of Administration:
Global Hormone Replacement Therapy Market, By Application:
• Male Hypogonadism
• Growth Hormone Deficiency
Global Hormone Replacement Therapy Market, By Distribution Channel:
• Hospital Pharmacies
• Retail Pharmacies
• Online Pharmacies
Global Hormone Replacement Therapy Market, By Region:
• North America
• Asia Pacific
• Latin America
• Middle East
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