Press release
Hormone Replacement Therapy Market 2023 Precise Scenario Covering Trends, Opportunities and Growth Forecast 2032
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The estrogen hormone replacement therapy accounted for the major market share and valued at USD 8.90 billion in the year 2020
The type segment is divided into estrogen hormone replacement therapy, human growth hormone replacement therapy, thyroid hormone replacement therapy, testosterone hormone replacement therapy, and others. The estrogen hormone replacement therapy accounted for the major market share and valued at USD 8.90 billion in the year 2020. Estrogen hormone and combination of progesterone and estrogen hormone is commonly used for the treatment of hormonal balance among the women after menopause. Thus, rising usage of estrogen hormone to restore the hormones among the females, driving the growth of the market.
The parental route of administration held the major market share and valued at USD 7.88 billion in the year 2020
The route of administration segment classified into oral, parenteral, transdermal, and others. The parental route of administration held the major market share and valued at USD 7.88 billion in the year 2020. It is one of the most commonly used route of administration for the drug delivery. It offers many advantages, such as it acts immediately and allow the administrator to control drug delivery.
Growth hormone deficiency segment is projected to grow at the highest CAGR of 12.7% over the forecast period
The disease type segment is classified into menopause, hypothyroidism, male hypogonadism, growth hormone deficiency, and others. Growth hormone deficiency segment is projected to grow at the highest CAGR of 12.7% over the forecast period. The growth hormone deficiency is the disorder which occurs due to the absence of enough growth hormone in the body. This disorder is most commonly seen in the children and symptoms are short height, and decreased muscle mass and strength. Thus, rising use of hormone replacement therapy for the treatment of growth hormone deficiency driving the growth of the market.
Regional Segmentation Analysis:
The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. The North America region dominated the global hormone replacement therapy market and held the largest market share of 51.69% in the year 2020. The high prevalence rate of menopause across the region is one of the key factor driving the growth of the market. In addition to this, high awareness about the therapy and early adoption of medication, further boosting the growth of the market in North America. Asia Pacific region is anticipated to grow at the highest CAGR of 12.5% over the forecast period. Rising geriatric population in the countries such as Japan and South Korea, boosting the growth of the market.
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Competitive Analysis:
Major players of the global hormone replacement therapy market arePfizer, Inc., Mylan Laboratories, Novartis, Eli Lilly, Abbott Laboratories, Novo Nordisk, Merck and Co., Bayer Healthcare, and Genentech among others.
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