Drugs for Hormonal Replacement Therapy Market Report 2025

The drugs for hormonal replacement therapy market size has grown steadily in recent years. It will grow from $13.75 billion in 2024 to $14.37 billion in 2025 at a compound annual growth rate (CAGR) of 4.5%. The growth in the historic period can be attributed to aging population, increasing awareness, lifestyle factors, regulatory approvals, market globalization.

The drugs for hormonal replacement therapy market size is expected to see steady growth in the next few years. It will grow to $16.96 billion in 2029 at a compound annual growth rate (CAGR) of 4.2%. The growth in the forecast period can be attributed to rising incidence of hormonal disorders, healthcare infrastructure, increasing health consciousness, patient education and empowerment. Major trends in the forecast period include technological advancements, personalized medicine, research and development, personalized hormone therapy, alternative delivery methods, combination therapies, telemedicine and telehealth, digital health solutions.

The forecast of 4.2% growth over the next five years remains unchanged from the previous projection for this market. This reduction is primarily due to the impact of tariffs between the US and other countries. Trade tensions could hinder U.S. endocrinology centers by inflating prices of bioidentical hormone preparations manufactured in Australia and Denmark, resulting in limited menopause management options and higher women's health care costs. The effect will also be felt more widely due to reciprocal tariffs and the negative effect on the global economy and trade due to increased trade tensions and restrictions.

The growing population of aging and postmenopausal women is driving the growth of the hormonal replacement therapy (HRT) drugs market. HRT drugs, including estrogen, progesterone, and others, are used to treat medical conditions associated with menopause. For instance, in March 2024, according to the United States Census Bureau, a U.S.-based government agency, there were approximately 4.2 million females aged 85 and older in the United States as of July 1, 2022. The increasing number of women experiencing menopausal symptoms and the aging population are key factors contributing to the growth of the drugs for hormonal replacement therapy market.

The rise in healthcare expenditures is set to drive the growth of the drugs for hormonal replacement therapy market. Healthcare expenditures encompass the costs associated with delivering health services, family planning programs, nutrition initiatives, and emergency assistance with a focus on health. Increased healthcare spending on hormonal replacement therapy supports better patient access, affordability, and research to develop safer and more effective treatments. For instance, in March 2022, according to the Centers for Medicare and Medicaid Services (CMS), a U.S.-based federal agency, national health spending was projected to increase annually by an average of 5.1% between 2021 and 2030, reaching approximately $6.8 trillion by 2030. Therefore, the rise in healthcare expenditures is driving the growth of the drugs for hormonal replacement therapy market.

Major companies operating in the hormonal replacement therapy market are focusing on developing advanced solutions, such as new hormone replacement therapies, designed specifically for postmenopausal women with a uterus. New hormone replacement therapy (HRT) refers to innovative treatments that replace or balance hormones in the body, typically when natural hormone levels decline due to aging or medical conditions. For instance, in June 2023, Pfizer, a US-based pharmaceutical company, launched DUAVEE® (conjugated estrogens/bazedoxifene) to treat moderate to severe vasomotor symptoms associated with menopause, such as hot flashes, and to prevent postmenopausal osteoporosis. This product combines conjugated estrogens with bazedoxifene, a selective estrogen receptor modulator (SERM), rather than a progestin. This pairing helps reduce the risk of endometrial hyperplasia, which can occur with estrogen-alone therapies, offering a safer alternative for women with a uterus experiencing menopausal symptoms.

Major companies operating in the drugs for hormonal replacement therapy market are actively introducing novel medications such as VEOZAH to maximize their market revenue. VEOZAH is a non-hormonal medication that received approval from the FDA to treat moderate to severe vasomotor symptoms (VMS) due to menopause, targeting hot flashes and night sweats. For example, in May 2023, Astellas Pharma Inc., a Japan-based pharmaceutical company, secured FDA approval for VEOZAH to manage moderate to severe vasomotor symptoms (VMS) linked to menopause. Veozah is a non-hormonal medication designed to alleviate menopausal hot flashes and night sweats. It's the first neurokinin 3 (NK3) receptor antagonist approved by the FDA for treating moderate to severe menopausal hot flashes.

Major companies operating in the drugs for hormonal replacement therapy market include Novartis AG, Bayer AG, Pfizer Inc., Novo Nordisk AS, Eli Lilly and Company, Abbott Laboratories, Mylan N.V., Merck & Co., Hisamitsu Pharmaceutical Co. Inc., Teva Pharmaceutical Industries Ltd., F. Hoffmann-La Roche Ltd., Noven Pharmaceuticals Inc., Orion Pharma AB, Allergan Plc, QuatRx Pharmaceuticals, Wyeth Ltd., Amgen Inc., Genentech USA Inc., TherapeuticsMD Inc., Viatris Inc., AbbVie Inc., GlaxoSmithKline plc, Sanofi S.A., Johnson & Johnson Services Inc., AstraZeneca plc, Bristol-Myers Squibb Company, Boehringer Ingelheim International GmbH, Takeda Pharmaceutical Company Limited.

North America was the largest region in the drugs for hormonal replacement therapy market in 2024. The Middle East is expected to be the fastest-growing region in the drugs for hormonal replacement therapy market during the forecast period. The regions covered in the drugs for hormonal replacement therapy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the drugs for hormonal replacement therapy market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report’s Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

The sudden escalation of U.S. tariffs and the resulting trade tensions in spring 2025 are having a significant impact on the pharmaceutical sector. Companies are grappling with higher costs on imported active pharmaceutical ingredients (APIs), glass vials, and laboratory equipment - many of which have limited alternative sources. Generic drug manufacturers, already operating with minimal profit margins, are particularly affected, with some scaling back production of low-margin medications. Biotech firms are also experiencing delays in clinical trials due to shortages of specialized reagents linked to tariffs. In response, the industry is shifting API production to regions like India and Europe, building up inventory reserves, and advocating for tariff exemptions on essential medicines.

The drugs for hormonal replacement therapy market research report is one of a series of new reports that provides drugs for hormonal replacement therapy market statistics, including drugs for hormonal replacement therapy industry global market size, regional shares, competitors with drugs for hormonal replacement therapy market share, detailed drugs for hormonal replacement therapy market segments, market trends and opportunities, and any further data you may need to thrive in the drugs for hormonal replacement therapy industry. This drugs for hormonal replacement therapy market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Hormonal replacement therapy drugs are used to treat individuals with growth hormone deficiency resulting from conditions such as dwarfism or menopause, a natural phase in a woman's life when her menstruation cycle ceases. These drugs play a vital role in replacing deficient hormones in the body, addressing issues related to growth hormone deficiency, and alleviating symptoms in menopausal women, including vaginal dryness, mood swings, bone weakening, and more.

The primary categories of hormonal replacement therapy drugs include estrogen replacement therapy, human growth hormone (HGH) replacement therapy, thyroid replacement therapy, and testosterone replacement therapy. These therapies can be administered through various routes, such as oral, parenteral (injections), and others. They are distributed through channels like hospital pharmacies, retail pharmacies, and online pharmacies, and are applied to treat conditions like hypothyroidism, male hypogonadism, growth hormone deficiency, menopause, and other related medical concerns.

The drugs for hormonal replacement therapy market includes revenues earned by entities by treating common menopausal symptoms, including hot flashes and vaginal discomfort. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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