A recent study by Triton Market Research titled ‘Global Hormone Replacement Therapy Market’ entails the Global Analysis and Forecasts by Therapy Type (Progestogen Hormone Replacement Therapy, Thyroid Hormone Replacement Therapy, Testosterone Hormone Replacement Therapy, Human Growth Hormone Replacement Therapy, Estrogen Hormone Replacement Therapy), Type of Disease (Male Hypogonadism, Menopause, Growth Hormone Deficiency, Hypothyroidism, Other Type of Diseases), Route of Administration (Parenteral, Transdermal, Oral, Other Routes of Administration), and by Geography (Asia-Pacific, North America, Europe, Middle East and Africa, Latin America).
Hormone replacement therapy plays a crucial role in alleviating the symptoms of menopause, hypothyroidism, and others. The treatment can be carried through oral, parenteral, or other routes of administration.
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Triton’s report suggests that the global hormone replacement therapy market is likely to register growth at a CAGR of 7.75% through the considered phase 2021-2028. It is further calculated to attain revenue worth $32.34 billion by 2028.
The high prevalence of hormonal disorders such as hypothyroidism, hypogonadism, and postmenopausal vasomotor systems have enhanced the need for hormone therapies. In addition, the prevalence of hypothyroidism affects a large number of populations in regions with iodine deficiency. Furthermore, several players are launching new products to strengthen their foothold in the market. For instance, Novo Nordisk obtained approval for Sogroya to treat adult growth hormone deficiency. Hence, the high prevalence of hormonal disorders and new product launches by major players are key factors augmenting the growth of the hormone replacement therapy market.
However, the high cost of treatment, coupled with adverse effects of the therapy, is impeding the expansion of the hormone replacement therapy market.
The hormone replacement therapy market is segmented into therapy type, type of disease, and route of administration. Based on therapy type, it is sectioned into progestogen hormone replacement therapy, thyroid hormone replacement therapy, testosterone hormone replacement therapy, human growth hormone replacement therapy, and estrogen hormone replacement therapy. The type of disease segment is subdivided into male hypogonadism, menopause, growth hormone deficiency, hypothyroidism, and other types of diseases. Lastly, the route of administration is categorized into parenteral, transdermal, oral, and other routes of administration.
The Asia-Pacific is expected to become the fastest evolving region in the hormone replacement therapy market. The growth is owing to several factors, including increased awareness among end-users and advancement in healthcare infrastructure. Other than this, the rising number of geriatric population is another major factor influencing the demand for hormone replacement therapy. Therefore, as stated above, all these factors are actively driving the growth of the hormone replacement therapy market across the Asia-Pacific region.
Novo Nordisk A/S, Genentech Inc, Eli Lilly & Company, Viatris Inc (Mylan NV), Dr Reddy’s Laboratories Ltd, Merck KGAA, Bayer AG, Pfizer Inc, ANI Pharmaceuticals, Abbott Laboratories, Teva Pharmaceutical Industries Ltd, Amgen, Ipsen, Novartis AG, and Noven Pharmaceuticals Inc are major companies profiled in the hormone replacement therapy market.
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Question & Answer: Hormone Replacement Therapy Market
Question 1: What key factors are augmenting the growth of the hormone replacement therapy market?
Answer: The high prevalence of hormonal disorders such as hypothyroidism, hypogonadism, and postmenopausal vasomotor systems have enhanced the need for hormone therapies. In addition, the prevalence of hypothyroidism affects a large number of populations in regions with iodine deficiency.
Furthermore, several players are launching new products to strengthen their foothold in the market. For instance, Novo Nordisk obtained approval for Sogroya to treat adult growth hormone deficiency. Hence, the high prevalence of hormonal disorders and new product launches by major players are key factors augmenting the growth of the hormone replacement therapy market.
Question 2: What factors are impeding the expansion of the hormone replacement therapy market?
Answer: The high cost of treatment, coupled with adverse effects of the therapy, is impeding the expansion of the hormone replacement therapy market.
Question 3: Which region is the leading in the activated carbon market?
Answer: The Asia-Pacific is expected to become the fastest evolving region in the hormone replacement therapy market. The growth is owing to several factors, including increased awareness among end-users and advancement in healthcare infrastructure. Other than this, the rising number of geriatric population is another major factor influencing the demand for hormone replacement therapy. Therefore, as stated above, all these factors are actively driving the growth of the hormone replacement therapy market across the Asia-Pacific region.
Question 4: Which are the major companies profiled in the hormone replacement therapy market?
Answer: Novo Nordisk A/S, Genentech Inc, Eli Lilly & Company, Viatris Inc (Mylan NV), Dr Reddy’s Laboratories Ltd, Merck KGAA, Bayer AG, Pfizer Inc, ANI Pharmaceuticals, Abbott Laboratories, Teva Pharmaceutical Industries Ltd, Amgen, Ipsen, Novartis AG, and Noven Pharmaceuticals Inc are major companies profiled in the hormone replacement therapy market.
Related Report:
Global Injectable Drug Delivery Market
The global injectable drug delivery market is assessed to progress at a CAGR of 8.66% during the predicted period of 2019-2028, while acquiring $43.23 billion in revenue by 2028.
Systems that directly inject a drug into the patient’s body are known as injectable delivery systems. Besides, injection equipment includes hypodermic needles and syringes. However, the first-generation devices were motorized and used primarily to direct drugs in the body.
The market is predominantly driven by the increasing geriatric population, along with the rising incidence rate of autoimmune diseases. Furthermore, the surge in healthcare expenditure, coupled with the development of advanced injectable systems, is opening new avenues for the injectable drug delivery market.
However, the elevated manufacturing cost of injectable drug delivery systems has negatively impacted the expansion of the reviewed market globally.
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