Hormone Replacement Therapy Market Overview
Hormone replacement therapy (HRT) is used for replenishing the hormones that are present in low levels in the human body. Systemic HRT helps in treating cancer, rheumatoid arthritis and other diseases. This treatment is particularly favorable for patients with growth hormone deficiency, women nearing menopause and elderly people suffering from hypogonadism. HRT is available in several forms such as skin and mouth patches, injections and implants. HRT may not be suitable for patients who have a history of blood clots, liver diseases and untreated high blood pressure. This therapy may also include some adverse effects such as bloating, swelling, nausea, leg cramps, headaches, indigestion, increased cholesterol levels and a rise in the number of red blood cells. Development of drugs with better safety profiles and novel delivery system such as transdermal estrogen and vaginal estrogen results in increasing the sale in the market. Growing demand for advanced medical solutions and improving lifestyle is anticipated to foster the growth of hormone replacement therapy market over the forecast period (2019-2027).
Market Size and Forecast
The hormone replacement therapy market is anticipated to record a CAGR of 7.65% over the forecast period. The market is segmented by route of administration into oral, parenteral and transdermal, out of which the transdermal drugs segment is expected to capture the highest demand over the forecast period primarily due to ease of application & drug efficiency on slow release of drug from transdermal drug delivery systems. The market is also segmented by product into estrogen replacement therapy, human growth hormone replacement therapy, thyroid replacement therapy and testosterone replacement therapy and by the type of disease into menopause, hypothyroidism, male hypothyroidism, growth hormone deficiency, cancer & others. CLICK TO DOWNLOAD FREE SAMPLE
Technical Advancements in Pharmaceutical Sector
Modern pharmaceutical companies are now focused on providing efficient solutions and services to their consumers. The demand for new treatment modalities delivering better results have increased the demand for personalized treatment methods among people. Increasing use of advanced production processes have resulted in improving the manufacturing process of the drugs which further impacted the market positively. Moreover, it is helping small and medium sized drug manufacturing companies to fairly grow. Rising demand for advanced medication is expected to propel the growth of hormone replacement therapy market around the world.
The hormone replacement therapy market is expected to remain influenced by increasing government support provisions towards women’s health. Governments and non-profit organizations of various countries are spreading awareness regarding hormone replacement therapy along with providing free treatments to lower- and middle-income population groups. Regulatory authorities such as FDA are also contributing to the cause of supporting women’s health by launching various initiatives. This aspect is likely to support the growth of the hormone replacement therapy market in the coming years.
Sales of hormone replacement therapy products through hospital pharmacies and retail pharmacies are likely to be on significant demand with growing awareness and government initiatives. Retail pharmacies are expected to remain an attractive distribution channel for hormone replacement therapy products. Over the years, the healthcare industries have resulted in significant growth in revenue collection across the globe. Utilizing hormone therapy products among women is estimated to foster the growth of the market.
HRT is available in several forms such as skin and mouth patches (transdermal), gels, injections and implants but such therapy has adverse effect on human body including bloating, swelling, nausea, leg cramps, headaches, indigestion, increased cholesterol levels and even an abnormal rise in the number of red blood cells. Further, HRT may not be suitable for patients who have a history of blood clots, liver disease and untreated high blood pressure. Such factors are expected to restrain the growth of the market over the forecast years.
Our-in depth analysis of the hormone replacement therapy market includes the following segments:
By Route of Administration
By Type of Disease
Based on regional analysis, the hormone replacement therapy market is segmented into five major regions North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. North America market is anticipated to capture the largest market share in the hormone replacement therapy market owing to rising geriatric population. According to American Cancer Society about 174,650 new cases of prostate cancer were reported in the year 2018. This is further expected to result in a rise in demand for HRT in the US. With growing awareness among patients, market of Asia Pacific is expected to observe a substantial growth over the forecast period.
The Middle East & Africa is expected to face a modest demand on account of rising incidences of chronic diseases such as ovarian cancer, prostate cancer etc. requiring hormone replacement therapy.
The hormone replacement therapy market is further classified on the basis of region as follows:
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