Hormone Replacement Therapy Market Expected to Expand at a Steady 2024-2031 | Novartis AG, Abbott, Mylan NV, Merck KgaA, Bayer AG, Pfizer Inc., Novo Nordisk A/S

The Hormone Replacement Therapy Market is estimated for 2024 for the forecast period 2024-2031, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Hormone replacement therapy (HRT) involves the use of estrogen and sometimes progesterone to treat common symptoms of menopause like hot flashes and night sweats. HRT is prescribed to women who are experiencing these symptoms and who do not have a higher risk of health issues due to HRT.

Market Dynamics:

The global hormone replacement therapy market is driven by the growing prevalence of menopausal symptoms among women across the globe. According to the North American Menopause Society, about 75% of women experience menopausal symptoms like hot flashes, night sweats, etc. Further, factors like an aging population and growing awareness about treatment options for menopause-related issues are also estimated to propel the market growth over the forecast period. Additionally, advancement in drug formulations like transdermal patches and gels for convenient administration of hormones is another driver of market growth. However, risk of breast cancer associated with long-term use of HRT drugs poses a challenge for market growth.

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Leading Key Players Include in This Report:

Novartis AG, Abbott, Mylan NV, Merck KgaA, Bayer AG, Pfizer Inc., Novo Nordisk A/S, QuatRx Pharmaceuticals, Teva Pharmaceutical Industries Ltd., Amgen, Inc., Eli Lilly and Company, Halozyme Therapeutics, Inc., AbbVie, Inc., Noven Pharmaceuticals, Inc., I-MAB Biopharma Co., Ltd., and Myovant Sciences

Since the report focuses on the healthcare sector, it also sheds light on key development in the said industry and latest R&D activities. It educates business owners on newly approved products, ongoing research and development, and products under the trial phase and in the pipeline.

Detailed Segmentation:

By Therapy Type: Estrogen Replacement Therapy, Human Growth Hormone (HGH) Replacement Therapy, Thyroid Replacement Therapy, Testosterone Replacement Therapy, and Others
By Route of Administration: Oral, Parenteral, and Others
By Application: Hypothyroidism, Male Hypogonadism, Growth Hormone Deficiency, and Others
By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies

Market Drivers:

As more women are living longer, the prevalence of menopause related issues like hot flashes, night sweats, mood swings, decreased and bone loss has increased significantly. According to WHO, the average life expectancy of women has increased from 47 years in 1950 to 72.6 years in 2015 globally. This has directly translated to rising number of women experiencing menopause symptoms. HRT has been one of the most effective treatment options for managing these symptoms. Pharmaceutical companies have been developing novel HRT delivery systems and drug combinations to better target menopause issues. This has boosted uptake of HRT products.

Market Restraints:

HRT products faced major setback in late 1990s and early 2000s when few observational studies linked their use to increased risks of breast cancer and cardiovascular issues. This led to imposition of strict regulatory guidelines for approval and marketing of HRT medications across regions. Pharma companies had to invest heavily in long term clinical trials to prove safety. Several HRT drug formulations were withdrawn. This regulatory uncertainty negatively impacted growth of hormone replacement therapy market for over a decade. Players faced challenges related to navigating stringent approval pathway and restrictions on direct-to-consumer promotions. Overall it created a reluctant environment for market expansion.

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Market Opportunity:

Bioidentical hormones are natural hormones that have exactly the same chemical and molecular structure as hormones that are produced in the human body. Compounded bioidentical hormone therapy or CBHRT are customized medications prepared by a compounding pharmacist after understanding an individual's specific needs and symptoms. They are considered safer alternative to standard HRT by many patients. Compounding pharmacies have gained significant traction for providing CBHRT especially in North America. Hormone replacement therapy players can leverage this growing interest in bioidentical and customized therapies. Collaborations or acquisitions of compounding pharmacies could help capture this emerging opportunity.

Key Region/Countries are Classified as Follows:

» North America (United States, Canada, and Mexico)
» Europe (Germany, France, UK, Russia, Italy)
» Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
» Latin America (Brazil, Argentina, Colombia)
» Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)

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How does the Report Aid Your Business Discretion?

➥ This section of Hormone Replacement Therapy Market report highlights some of the most relevant factors and growth enablers that collectively ensure a high-end growth spurt
➥ The report unravels details on pronounced share assessments across both country-wise as well as region-based segments
➥ A leading synopsis of market share analysis of dynamic players inclusive of high-end industry veterans
➥ New player entry analysis and their scope of new business models
➥ The report includes strategic recommendations for new business veterans as well as established players seeking novel growth avenues
➥ A detailed consultation services based on historical as well as current timelines to ensure feasible forecast predictions
➥ A thorough evaluation and detailed study of various segments as well as sub-segments across regional and country-specific developments
➥ Details on market estimations, market size, dimensions and the like
➥ A review of market competitors, their high-end product and service portfolios, dynamic trends, as well as technological advances that portray high end growth in this Market

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