PUBLISHER: The Business Research Company | PRODUCT CODE: 1387862
PUBLISHER: The Business Research Company | PRODUCT CODE: 1387862
“Drugs For Hormonal Replacement Therapy Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on drugs for hormonal replacement therapy market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for drugs for hormonal replacement therapy? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The drugs for hormonal replacement therapy market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Sub- Segments
Hormonal replacement therapy drugs are used to treat individuals with growth hormone deficiency resulting from conditions such as dwarfism or menopause, a natural phase in a woman's life when her menstruation cycle ceases. These drugs play a vital role in replacing deficient hormones in the body, addressing issues related to growth hormone deficiency, and alleviating symptoms in menopausal women, including vaginal dryness, mood swings, bone weakening, and more.
The primary categories of hormonal replacement therapy drugs include estrogen replacement therapy, human growth hormone (HGH) replacement therapy, thyroid replacement therapy, and testosterone replacement therapy. These therapies can be administered through various routes, such as oral, parenteral (injections), and others. They are distributed through channels like hospital pharmacies, retail pharmacies, and online pharmacies, and are applied to treat conditions like hypothyroidism, male hypogonadism, growth hormone deficiency, menopause, and other related medical concerns.
The drugs for hormonal replacement therapy market research report is one of a series of new reports from The Business Research Company that provides drugs for hormonal replacement therapy market statistics, including drugs for hormonal replacement therapy industry global market size, regional shares, competitors with drugs for hormonal replacement therapy market share, detailed drugs for hormonal replacement therapy market segments, market trends and opportunities, and any further data you may need to thrive in the drugs for hormonal replacement therapy industry. This drugs for hormonal replacement therapy market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The drugs for hormonal replacement therapy market size has grown strongly in recent years. It will grow from $12.99 billion in 2023 to $13.77 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The growth observed during the historical period can be attributed to several factors, including an aging population, a rising level of awareness, lifestyle factors, regulatory approvals, and the globalization of the market. These factors have contributed to the historical growth of hormonal replacement therapy drugs and treatments.
The drugs for hormonal replacement therapy market size is expected to see strong growth in the next few years. It will grow to $16.82 billion in 2028 at a compound annual growth rate (CAGR) of 5.1%. The anticipated growth in the forecast period can be attributed to several factors, including the increasing incidence of hormonal disorders, improvements in healthcare infrastructure, a growing focus on health consciousness, and enhanced patient education and empowerment. Prominent trends in the forecast period encompass technological advancements in hormonal replacement therapy, the adoption of personalized medicine, increased research and development efforts, the application of personalized hormone therapy, exploration of alternative delivery methods, the use of combination therapies, the integration of telemedicine and telehealth, and the utilization of digital health solutions in the field. These trends are expected to drive growth in the hormonal replacement therapy sector.
The growth of the drugs for hormonal replacement therapy market is being fueled by the increasing population of aging and postmenopausal women. This demographic is driving the demand for hormonal replacement therapy drugs like estrogen and progesterone to manage medical conditions related to menopause. For instance, data from the United Nations Economic and Social Commission for Asia and the Pacific in February 2021 indicates that by 2030, over half of the population aged 65 or older will be women, accounting for over 9% of the total population. By 2050, this percentage is expected to nearly double, reaching over 18%. The number of individuals over 80 years old is projected to nearly triple, with women constituting over 60% of this group. These trends are indicative of an increasing vulnerable older female population. The European Menopause and Andropause Society (EMAS) reports that the number of women aged over 60 is expected to surpass 1 billion by 2050. In South Korea, the female population is anticipated to exceed the male population by 2060, with 59.6% of the female population expected to experience postmenopausal symptoms. Hence, the growing number of females experiencing menopausal symptoms, coupled with an aging population, is propelling the growth of the drugs for hormonal replacement therapy market.
The rise in healthcare expenditures is set to drive the growth of the drugs for hormonal replacement therapy market. Healthcare expenditures encompass the costs associated with delivering health services, family planning programs, nutrition initiatives, and emergency assistance with a focus on health. Increased healthcare spending on hormonal replacement therapy supports better patient access, affordability, and research to develop safer and more effective treatments. For example, data from the American Medical Association in March 2023 reveals that healthcare spending in the United States increased by 2.7% in 2021, reaching $12,914 per person or a total of $4.3 trillion. Consequently, the increase in healthcare expenditures is a driving force behind the growth of the drugs for hormonal replacement therapy market.
The uptick in the occurrence of side effects associated with the use of drugs for hormonal replacement therapy may act as a hindrance to the market's growth. These side effects encompass issues like vaginal dryness, irregular heartbeat, breast swelling, osteoporosis (bone weakening), and various other effects resulting from hormone replacement therapy. High drug dosages for hormonal replacement therapy can lead to rapid heartbeat, bloating, nausea, indigestion, vaginal bleeding, blood clots, heart attacks, breast cancer, and other adverse effects. According to an online study, a reduction in the use of combined hormone therapy led to a decrease in breast cancer cases by 126,000 and cardiovascular disease cases by 76,000. Consequently, the increasing occurrence of side effects is impeding the growth of the drugs for hormonal replacement therapy market.
Companies in the drugs for hormonal replacement therapy industry are increasingly focused on developing drugs with improved safety profiles and novel drug delivery methods. These drug delivery mechanisms include transdermal estrogen, virginal estrogen, and others. Transdermal estrogen is available in the form of transdermal gel, patches, and sprays that are used to address menopausal symptoms like vaginal dryness, itching, burning, and other issues related to low estrogen levels. Vaginal estrogen is offered in the form of creams, vaginal rings, and vaginal tablets to deliver estrogen into the system. For instance, Novo Nordisk, a multinational pharmaceutical company, provides innovative drug delivery mechanisms and low-dose hormonal replacement therapy (HRT) drugs to cater to the increasing demands of patients. Some of the brand offerings include Climara, Divigel, Elestrin, Esclim, Estraderm, Estrasorb, EstroGel, Evamist, Oesclim, Rhoxal-EstradiolDerm 50, Vivelle 100 Mcg, Estradot Transdermal Therapeutic System, and more.
Major companies operating in the drugs for hormonal replacement therapy market are actively introducing novel medications such as VEOZAH to maximize their market revenue. VEOZAH is a non-hormonal medication that received approval from the FDA to treat moderate to severe vasomotor symptoms (VMS) due to menopause, targeting hot flashes and night sweats. For example, in May 2023, Astellas Pharma Inc., a Japan-based pharmaceutical company, secured FDA approval for VEOZAH to manage moderate to severe vasomotor symptoms (VMS) linked to menopause. Veozah is a non-hormonal medication designed to alleviate menopausal hot flashes and night sweats. It's the first neurokinin 3 (NK3) receptor antagonist approved by the FDA for treating moderate to severe menopausal hot flashes.
Major companies operating in the drugs for hormonal replacement therapy market include Novartis AG, Bayer AG, Pfizer Inc., Novo Nordisk AS, Eli Lilly and Company, Abbott Laboratories, Mylan N.V., Merck & Co., Hisamitsu Pharmaceutical Co. Inc., Teva Pharmaceutical Industries Ltd., F. Hoffmann-La Roche Ltd., Noven Pharmaceuticals Inc., Orion Pharma AB, Allergan Plc, QuatRx Pharmaceuticals, Wyeth Ltd., Amgen Inc., Genentech USA Inc., TherapeuticsMD Inc., Viatris Inc., AbbVie Inc., GlaxoSmithKline plc, Sanofi S.A., Johnson & Johnson Services Inc., AstraZeneca plc, Bristol-Myers Squibb Company, Boehringer Ingelheim International GmbH, Takeda Pharmaceutical Company Limited
North America was the largest region in the drugs for hormonal replacement therapy market in 2023. The Middle East is expected to be the fastest-growing region in the drugs for hormonal replacement therapy market during the forecast period. The regions covered in the drugs for hormonal replacement therapy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the drugs for hormonal replacement therapy market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada
The drugs for hormonal replacement therapy market includes revenues earned by entities by treating common menopausal symptoms, including hot flashes and vaginal discomfort. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.