Hormone Replacement Therapy Market

The forecast for the hormone replacement therapy market provides stakeholders with insights to shape their growth strategies. The market is anticipated to expand from US$ 9.85 billion in 2024 to US$ 14.82 billion by 2031, with an estimated CAGR of 7.3% from 2025 to 2031.

The global demand for hormone replacement therapy (HRT) is consistently increasing due to factors such as the rising incidence of hormonal disorders, heightened awareness of hormone deficiencies, and advancements in HRT formulations. Bioidentical hormone replacement therapy (BHRT) is gaining popularity over synthetic hormones due to its perceived safety and effectiveness. BHRT, derived from natural sources, is believed to closely mimic the hormones produced by the body.

Pharmaceutical companies are focusing on creating innovative hormone therapy formulations, including transdermal patches, gels, creams, and subcutaneous implants, to enhance patient convenience, adherence, and safety. This trend is driving the growth of the hormone replacement therapy market. In August 2023, the Food and Drug Administration (FDA) approved ANI Pharmaceuticals' abbreviated new drug application for a 0.1% estradiol gel. The reference medication, Divigel, is an estrogen hormone therapy used to alleviate moderate to severe vasomotor symptoms associated with menopause. The generic version of Divigel is estradiol gel, 0.1%.

Growth Drivers:

Extensive Applications Fuel Hormone Replacement Therapy Market Growth

Hormone replacement therapy is utilized to alleviate menopause symptoms, treat growth hormone deficiency, and more, significantly impacting individuals' lives. Millions of women utilize HRT, often for extended periods. HRT can help prevent osteoporosis and enhance quality of life in various ways. According to Oregon Health & Science University, growth hormone deficiency (GHD) is relatively rare, affecting about 50,000 adults in the US and approximately one in 4,000 to 6,000 children. Therefore, the increasing adoption of therapy alongside the rising prevalence of hormonal disorders is propelling the growth of the hormone replacement therapy market.

Restraint:

High Medication Costs Impede Hormone Replacement Therapy Market Growth

The prices of HRT products are notably high. For example, the monthly cost of oral hormone replacement therapy prescriptions ranges from US$ 130 to US$ 240 (equating to US$ 1,560 to US$ 2,440 annually), as reported by The Menopause Center. These high costs hinder the regular use of these products, thus restraining the growth of the hormone replacement therapy market.

Strategic Insights

Report Segmentation and Scope:

The analysis of the hormone replacement therapy market has been conducted by examining the following segments: therapy, application, route of administration, and end user.

By therapy, the hormone replacement therapy market is divided into estrogen hormone replacement, growth hormone replacement, thyroid hormone replacement, testosterone replacement, and others. The estrogen hormone replacement segment accounted for the largest market share in 2023.

The hormone replacement therapy market, categorized by application, includes menopause, growth hormone (GH) deficiency, hypothyroidism, hypogonadism, and others. The menopause segment held the largest share of the hormone replacement therapy market in 2023 and is expected to exhibit the highest CAGR during the forecast period.

Regional Analysis:

Regionally, the hormone replacement therapy market report encompasses North America, Europe, Asia Pacific, South & Central America, and the Middle East & Africa. In 2023, North America dominated the market share. The increasing adoption of advanced technologies, the rising prevalence of hormonal disorders, early adoption of new products, and the presence of key market players contribute to the growing hormone replacement therapy market size in North America. In June 2023, the US Food and Drug Administration (FDA) approved NGENLA (somatrogon-ghla), a once-weekly human growth hormone analog, for treating pediatric patients aged three years and older with growth failure due to insufficient endogenous growth hormone secretion, as announced by Pfizer Inc. and OPKO Health Inc.

Moreover, a heightened focus on providing access to quality personalized care and enhancing healthcare solutions is expected to create significant opportunities for the hormone replacement therapy market during the forecast period. In May 2023, Forum Health, LLC, the first national network of integrative and functional medicine providers, acquired Hormones by Design, one of the largest networks of hormone replacement clinics in Texas.

Hormone Replacement Therapy Market Report Scope

Industry Developments and Future Opportunities:

Key strategic developments by leading players in the hormone replacement therapy market, as reported in company press releases, include:

1. In January 2024, Ascendis Pharma A/S of Denmark and Vector Pharma FZCO (Vector) entered into an exclusive distribution agreement for the commercialization of Yorvipath and Skytrofa in the Gulf Cooperation Council (GCC) countries, including Saudi Arabia, the UAE, Kuwait, Oman, Qatar, and Bahrain. Under this agreement, Vector will leverage its sales and marketing expertise to provide patients in the GCC with Yorvipath for adult hypoparathyroidism and Skytrofa for pediatric growth hormone deficiency (GHD).

Competitive Landscape and Key Companies:

Prominent companies profiled in the hormone replacement therapy market report include Astrazeneca, Pfizer Inc., Novartis AG, Abbott, Tolmar Inc., Par Pharmaceutical, Mayne Pharma Group Limited, Novo Nordisk A/S, Eli Lilly and Company, and Noven Pharmaceuticals, Inc. These companies are focused on developing new technologies, enhancing existing products, and expanding their geographic reach to meet the increasing consumer demand globally.

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