Hormone Replacement Therapy Market

Hormone Replacement Therapy (HRT) Market Outlook (2023 to 2033)

The global hormone replacement therapy market size is projected to increase from a value of US$ 22.5 billion in 2023 to US$ 43.7 billion by the end of 2033, expanding at a CAGR of 6.8% through the study period of 2023 to 2033.

Hormone replacement therapy is used to treat issues such as menopause, osteoporosis, thyroid, dementia, etc. An increase in the incidence of these diseases is projected to boost demand for hormone replacement therapy in the long run. The growing awareness regarding the benefits of hormone replacement therapy for menopausal symptoms is forecasted to be a common driver for hormone replacement industry growth across the world.

Expanding geriatric population, rising number of menopausal women, increasing availability of favourable reimbursement policies for hormone replacement procedures, growing availability of novel hormone replacement medications, and rising popularity of customized hormone replacement therapies for different chronic diseases are other influential aspects driving hormone replacement therapy demand from 2023 to 2033. Bio-identical hormone replacement therapy is anticipated to gain massive popularity by the end of the study period.

• In April 2023, a new HRT prescription prepayment certificate (PPC) was launched through the NHS England National Menopause Care Improvement Programme. This initiative was expected to help around 400,000 women in the country.

The risk of cancerous cell development in the use of combination hormone replacement therapies is estimated to be a major obstacle inhibiting HRT providers from reaching their full growth potential. Demand for low-cost generic versions of hormone replacement drugs is predicted to surge at a rapid pace over the next ten years and offer highly remunerative opportunities for incoming as well as established hormone replacement therapy product manufacturers.

Report Attributes	Details
Hormone Replacement Therapy Market Size (2023)	US$ 22.5 Billion
Projected Market Value (2033F)	US$ 43.7 Billion
Global Market Growth Rate (2023 to 2033)	6.8% CAGR
North America Market Share (2023)	25%
Key Companies Profiled	Novo Nordisk A/S Bayer AG Endo International Plc Janssen NV Mithra Pharmaceuticals Novartis AG Pfizer Inc. Allergen Plc Merck KGaA Teva Pharmaceuticals Mylan N.V.

How Can Start-ups Benefit in the Global HRT Market?

“Menopausal Women – Gold Mine of Opportunity for Hormone Replacement Therapy Providers”

Menopause has emerged as a key area of focus for hormone replacement therapy providers as it has been a neglected topic in the healthcare industry for years. The absence of proper menopause care and solutions to help manage menopause effectively makes it an important topic for hormone replacement product vendors in the future as several women move into the menopausal stage, the result of a rapidly aging world population.

Incoming hormone replacement therapy companies are focusing on raising new capital to fund their R&D efforts and promote product innovation that allows them to stand out from the global competition.

• In March 2022, Vira Health, a United Kingdom-based company focused on providing personalized digital therapeutics for menopausal women, announced that it has raised US$ 12 million from Octopus Ventures and participation from other investors as well. The company has plans of using the raised capital to advance its personalized menopause support offerings for women.
• In April 2022, Evernow, a telehealth start-up focusing on women’s health and founded 2019, announced that it had raised US$ 28.5 million in a Series A funding round. The company intended to utilize the capital to finance its efforts to provide virtual menopause treatment, hormone therapies, and other services with round-the-clock support.

Learning more about factors such as local supply, pricing trends, product standards, safety regulations, and new developments from this hormone replacement therapy industry study by skilled analysts at Fact.MR, a market research and competitive intelligence provider, could help start-ups scale their business and cash in on new opportunities the market has to offer.

What is the Major Obstacle to Hormone Replacement Business Success?

“Carcinogenic Effects of Combination Hormone Replacement Therapies”

Use of hormone replacement therapy can lead to cancerous cell development. The use of combination hormone replacement therapy (combination of progesterone and estrogen) can increase the risk of breast cancer by 75 percent even if used for a short timeframe, some studies suggest.

• According to the U.S Women’s Health Initiative, the use of combination hormone replacement therapy comes with the risk of development of several cancers including ovarian cancer and uterus cancers.

This aspect is expected to confine the growth in the adoption of hormone replacement therapy in the forthcoming years. Other hormone replacement therapy-related disorders such as stroke, cardiac disorders, and blood clots are further expected to negatively impact the hormone replacement therapy market growth.

Leading companies in the hormone replacement therapy market are concentrating on expanding their current product portfolio. New hormone replacement therapy formulations being the core focus, companies are carrying out trials and gaining FDA approvals. Private equity firms are focused on acquiring emerging participants that are involved in drug delivery systems in the hormone replacement therapy space.

Country-wise Insights

Why Should Hormone Replacement Therapy Companies Target Canada?

“Rising Awareness Regarding Hormone Replacement Therapy Benefits”

With North America accounting for 25% share of the global hormone replacement therapy market, besides the United States, Canada is also expected to be a key player in this market.

Canada is an emerging space for all types of healthcare solutions and services owing to the increasing number of geriatric people and expanding population that is driven by its PR visa initiatives. The government of the country is investing heavily in healthcare infrastructure development and launching initiatives to promote awareness regarding the benefits associated with hormone replacement therapies.

• Use of hormone replacement therapies to treat menopausal symptoms in women has been approved by Health Canada, the government body of Canada responsible for the country’s health policies.

Increasing number of clinical trials being carried out to explore the effects of hormone replacement therapy products on different disease conditions are also anticipated to uplift hormone replacement therapy demand in Canada over the next ten years.

Which Asian Countries are Investment-worthy Market in This Space?

“Japan, China, India – Key Countries Attracting Hormone Replacement Therapy Providers”

Demand for hormone replacement therapy in Japan is poised to dominate the Asia Pacific regional marketplace through 2033 and this can primarily be attributed to the presence of high senescent population in the country. The growing use of HRT products to treat osteoporosis, dementia, and other old age-related disorders is forecasted to make Japan a highly opportune space for hormone replacement therapy companies through 2033.

Supportive government initiatives to advance healthcare infrastructure and the growing availability of novel drug delivery solutions are also offering attractive growth scope for hormone replacement therapy companies in countries such as China, India, and Indonesia in the future. Surging awareness regarding menopause and the benefits of hormone therapies to treat the same are also slated to boost sales of hormone replacement therapy products in the aforementioned countries across the study period.

Where Do Hormone Replacement Therapy Companies Find Sanctuary in Europe?

“United Kingdom to Offer Lucrative Moneymaking Opportunities”

Women in the United Kingdom are becoming more aware of menopausal symptoms and taking steps to alleviate these symptoms through the use of hormone replacement therapies. Multiple supportive government initiatives have been promoting the use of hormone replacement products in the country and this is also slated to open up new avenues of opportunities for upcoming as well as new hormone replacement therapy providers.

• As per the National Institute for Health and Care Excellence (Nice), around 1 million women in the United Kingdom use HRT treatment to alleviate the symptoms of menopause.
• In 2022, the United Kingdom experienced shortages in the supply of multiple HRT medications such as Oestrogel, FemSeven Sequi Patches, etc. The shortages were attributed to limited supply and rising demand for hormone replacement therapy products.

Category-wise Insights

Which Therapy is the Most Profitable for HRT Companies?

“Demand for Estrogen Hormone Replacement Therapies Generating Most Revenue”

Based on therapy type, the hormone replacement therapy market is segmented into estrogen hormone replacement therapy, thyroid replacement therapy, and growth hormone replacement therapy.

Awareness regarding menopause and postmenopausal issues has been increasing among women around the world and this is projected to be the prime factor boosting sales of estrogen hormone replacement products going forward. The average onset age of menopause in women is 50 and the rapidly expanding geriatric population of the world is influentially pushing several women in this category and promoting demand for estrogen hormone replacement therapies.

Competitive Landscape

Leading hormone replacement therapy companies are focusing efforts and strategies that allow them to scale their market presence and improve revenue generation capacity. Mergers, acquisitions, and product launches are some of the most preferred and used tactics by established as well as new hormone replacement therapy providers.

• In March 2022, Pfizer Inc., a leading name in the hormone replacement therapy market landscape, announced that it had completed the acquisition of Arena Pharmaceuticals, a clinical-stage biotech company based in the United States. Pfizer expanded its therapy offerings through this acquisition and bolstered its market share in the global competitive landscape.

Key Segments of Hormone Replacement Therapy Industry Research

• By Therapy Type :

  • Estrogen Hormone Replacement Therapy
  • Thyroid Replacement Therapy
  • Growth Hormone Replacement Therapy

• By Dosage Form :

  • Tablets
  • Patches
  • Injections
  • Implants
  • Creams
  • Others

• By Indication :

  • Menopause
  • Osteoporosis
  • Thyroid
  • Growth Hormone Deficiency

• By Sales Channel :

  • Hospital Pharmacies
  • Clinics
  • Retail Pharmacies
  • Online Pharmacies

• By Region :

  • North America
  • Latin America
  • Europe
  • APAC
  • MEA