by Hormone replacement therapy (HRT) involves the use of estrogens, androgens and progestogens to treat symptoms associated with menopause and other hormonal imbalances. HRT is usually prescribed for symptoms in peri and postmenopausal women who have not had a hysterectomy. The main benefits of HRT are treatment of hot flashes, night sweats, mood swings and vaginal dryness and atrophy. It can also help prevent bone loss and reduce risks associated with heart disease. HRT is available in the form of pills, skin patches, gels or creams.
The global hormone replacement therapy market is estimated to be valued at US$ 14288.76 in 2023 and is expected to exhibit a CAGR of 4.6%over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The growing prevalence of menopause among women is expected to drive the market growth over the forecast period. According to the National Institutes of Health, approximately 1.3 million American women experience menopause each year. Symptoms associated with menopause including hot flashes, night sweats, mood swings, vaginal dryness are effectively treated with hormone replacement therapy. This has increased the demand for HRT globally.
Another key driver for the market is the ability of HRT to reduce risks of heart disease in peri-menopausal women. HRT in the form of estrogen plus progestin can help reduce risks of coronary heart disease by about 34% in women who start HRT within 10 years of menopause according to a few studies. This makes HRT a preferred option for many women going through menopause.
Segment Analysis
The hormone replacement therapy market is segmented into route of administration, type of therapy, source of active ingredients, end user, and distribution channels. Oral administration segment dominates the market owing to higher patient preference and convenience. Estrogen replacement therapy holds the largest share as it is prescribed widely for managing menopause related symptoms. Natural and plant-based active ingredients are gaining traction due to the perception of being safer and more natural. Clinics & hospitals account for the highest share as it is the most accessible distribution channel for patients.
PEST Analysis
Political: Regulations regarding hormone replacement therapy are becoming stringent. However, rising health awareness among women population supports market growth.
Economic: Increasing per capita healthcare expenditure and disposable income facilitate market expansion.
Social: Growing women population and rising prevalence of menopausal related health issues drive the demand. Changing lifestyle leading to early menopause further supports market growth.
Technological: Research on drugs delivery and development of combination therapies to manage various symptoms offer opportunities. Digital health solutions also gain prominence.
Key Takeaways
The Global Hormone Replacement Therapy Market is expected to witness high growth. The global hormone replacement therapy market is estimated to be valued at US$ 14288.76 in 2023 and is expected to exhibit a CAGR of 4.6%over the forecast period 2023 to 2030.
North America currently dominates owing to established healthcare infrastructure, growing aging population, and awareness levels. Asia Pacific is expected to witness fastest growth owing to improving healthcare accessibility in developing countries and rising women population in nations like China and India.
Key players operating in the hormone replacement therapy market are CMC Consumer Medical Care GMBH, Cotton Club, Groupe Lemoine Sanitars, Shiseido Co. Ltd., Sisma S.P.A, TZMO SA, L&R USA Inc., Unicharm Corporation, and PT Cottonindo Ariesta Tbk. These players focus on expanding their product portfolios and strengthening geographical presence through strategic collaborations.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
