Hormone Replacement Therapy Market Analysis by Replacement Therapy (Estrogen, Human Growth Hormone, Thyroid, and Testosterone Replacement Therapy); by Administration Route (Parenteral, Transdermal, and Oral); and by Indication (Cancer, Growth Hormone Deficiency, Menopause, Male Hypothyroidism, Hypothyroidism, and Others) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2033
Buy Now Report ID: 866 | Published Date: Feb 09, 2023
The global hormone replacement therapy market is estimated to garner a revenue of ~USD 57 billion by the end of 2033 by growing at a CAGR of ~8% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of ~USD 32 billion in the year 2022. The growth of the market is primarily attributed to the higher prevalence of chronic conditions such as hypogonadism in adult males across the globe. For instance, globally, hypogonadal males account for approximately 42% of men over the age of 45 and 55% of men in their 80s. Moreover, rising awareness regarding the post- menopausal issues among women is another major factor which is driving the growth of the market over the projected forecast period.
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Global hormone replacement therapy market trends such as, skyrocketing investment by the government in the R&D of new medical technology and the growing prevalence of high blood pressure & hypertension are projected to influence the growth of the market positively over the forecast period. For instance, it is estimated that in every 4 adults, 1 of them aged between 20 to 45 suffers from high blood pressure worldwide. Additionally, in 2018, around 45% of the global population was projected to live with hypertension. Hence, all these factors are anticipated to propel the growth of the market over the forecast period.
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Base Year |
2022 |
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Forecast Year |
2023-2033 |
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CAGR |
~8% |
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Base Year Market Size (2022) |
~ USD 32 Billion |
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Forecast Year Market Size (2033) |
~ USD 57 Billion |
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Regional Scope |
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Growth Drivers
Higher Number of Women Hitting Menopause - As of 2020, in the USA, around 50% of women aged 35 or above were facing sleep problems, 45% of them had skin dryness, 30% suffering from depression, and 30% women were living with night sweats due to menopause. Menopause is a time that comes in a women’s life after she has her last menstrual cycle. Menopause is commonly diagnosed after 12 months without having a menstrual period which generally occurs in the 40s or 50s. During this period, women face severe hormonal changes that can affect their daily life. Hence, hormone replacement therapy becomes beneficial to soothe the symptoms of menopause.
Growing Cases of Anxiety Disorders - In 2019, around 4% of the global population was estimated to be suffering from anxiety disorders.
Spiking Prevalence of Thyroid in Modern Population - For instance, approximately 10 out of 100,000 women and 3 out of 100,000 men are projected to be living with thyroid.
Worldwide Proliferation in Hypertension - For instance, approximately 1.50 billion people globally between the ages of 30-79 had hypertension in 2021.
Utilization of Hormone Replacement Therapy to Cure Liver Disease - It has been observed that around 1.8 million people die due to liver disease every year across the globe.
Possibilities of Side-Effects of the Therapy – Hormone replacement therapy is anticipated to cause some problems with digestive system of that person who takes this therapy. A person feels sick, have diarrhea, constipation, and even loss of appetite.
Requirement for Higher Initial Investment
Lack of Skilled Medical Professionals
The global hormone replacement therapy market is segmented and analyzed for demand and supply by administration route into parenteral, transdermal, and oral, out of which, the transdermal segment is projected to witness noteworthy growth over the forecast period. The growth of the segment is accounted to the rising demand for transdermal drug delivery and ease of application. For instance, it is estimated that over 1 million transdermal patches are produced worldwide every year.
The North America hormone replacement therapy market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033. The growth of the market is ascribed to the significant growth in the geriatric population along with the significant presence of a well-structured healthcare infrastructure. World Bank released a set of data showing the geriatric population in the United States reached 56,545,938 in 2021. Moreover, rising cases of cancer and spiking penetration of major key players of the market in the region are further expected to hike the growth of the market over the forecast period.
Our in-depth analysis of the global hormone replacement therapy market includes the following segments:
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By Replacement Therapy |
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By Administration Route |
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By Indication |
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AbbVie Inc.
Orion Pharma AB to acquire the clearance for darolutamide indication in the combination with docetaxel from U.S. Food and Drug Administration (FDA). The product is developed for the treatment of metastatic hormone-sensitive prostate cancer shortly known as (mHSPC).
Genentech, Inc. to release positive results from the Phase III SKYSCRAPER-01 study. The study was being conducted to monitor the anti-TIGIT immunotherapy tiragolumab plus Tecentriq (atezolizumab) vs Tecentriq alone as an initial (first-line) to find the cure for people living with advanced or metastatic non-small cell lung cancer (NSCLC).
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Author Credits: Radhika Gupta, Shivam Bhutani
Ans: Higher number of women hitting menopause and growing cases of anxiety disorders is estimated to majorly boost the market growth.
Ans: The market is anticipated to attain a CAGR of ~8% over the forecast period, i.e., 2023 – 2033.
Ans: Possibilities of side-effects of the therapy and the requirement for higher initial investment are estimated to challenge the market growth.
Ans: The market in North America region is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.
Ans: The major players in the market are Abbott Laboratories, Novo Nordisk A/S, Genentech, Inc., Novartis AG, F. Hoffmann-La Roche Ltd, Merck KGaA, Mylan N.V., Bayer AG, Eli Lilly and Company, and others.
Ans: The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue-generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by replacement therapy, administration route, indication, and by region.
Ans: The transdermal is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.
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