The global hormone replacement therapy market size was estimated to be USD 33.06 billion in 2021 and reach USD 48.92 billion in 2027, registering a CAGR of 6.75% during the forecast period (2021-2027). Hormonal replacement therapy (HRT) is used to cure the underlying problems or diseases associated with the deficiency of a particular hormone; the hormone is available in transdermal, gels, injections, implants, tablets, and other forms. For instance, estrogen hormone therapy is prescribed for females suffering from menopausal disorders. Estrogen hormone replacement therapy has major applications compared to other hormonal therapies, such as thyroid HRT, growth HRT, testosterone HRT, and others.
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The therapy is expensive globally; it may induce medical tourism from developed nations to developing economies for relatively lower treatment costs and other provisions offered. The rise in prevalence of menopausal disorder and increased awareness of post-menopausal difficulties among women are significant factors driving the global hormone replacement therapy market during the forecast period. In addition, the launch of new hormone replacement therapies, such as DUAVIVE, is likely to contribute to the market’s growth in upcoming years significantly. The demand for hormone replacement therapy is boosting with the increase of lifestyle-related disorders, and rising adulteration, as these are affecting the health and bodily functions. It is also used for infants to treat deficiency of the hormone and for gender transmission.
Hormone therapy is recommended for people suffering from hypogonadism or other hormonal disorders. It has many other benefits that concerns with animals and plants, as with its use, the plant’s growth can be altered or retarded, to meet the rising demand of population and for commercial use. In animals, hormones are injected to decrease the gestation period, increase milk production, quality of meat, and others. Various utilities are yet to discover under ongoing R&D studies; advancement in technology or healthcare will make it possible to get treatment of the desired hormone to increase performance in sports, the education sector others.
The therapy has benefits, though risks and side-effects correlated to it, including stroke, cancer, weight gain or loss, infertility, hormonal toxicity, and others; therefore, expert advice and guidance are mandatory. Alternative medication or therapies like bioidentical therapy may affect its market. With the introduction of AI in healthcare, the accuracy of hormone insertion will increase declining risks or errors.
COVID-19 marked potential growth for the hormone replacement therapy market; the individuals are more aware of their health. Hormonal imbalance incidences are increasing in adults, neonates due to varied reasons; despite associated risks, there is a rising demand for hormonal replacement therapy globally. For instance, estrogen enhances the immune response, postmenopause the amount of estrogen falls in the female body, hence leaving older women at high risk of getting infected. The increasing number of research studies carried out by different institutes to manage the diseases with hormone therapy will affect the growth rate positively.
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The hormone replacement therapy market has been segmented into therapies type, application, route administration, and region:
Based on the therapies type, the hormone replacement therapy market has been segmented into–
Based on the indication, the hormone replacement therapy market has been segmented into–
Based on the geographical viewpoint, the global hormone replacement therapy market has been segmented into geographical regions: Asia Pacific, North America, Europe, UK, UAE, and others. In 2020, North America held the largest market share for hormone replacement therapy, followed by Europe and the Asia Pacific. Moreover, Asia Pacific is estimated to project the highest CAGR globally during the forecast period.
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The global hormone replacement therapy market is highly fragmented, with the presence of a large number of small players across the globe. The vital Hormone Replacement Therapy service providers and key players in the global market are –
The HRT market report covers a thorough analysis of the market dynamics, business models, segmental/regional analysis, and respective market shares and strategies adopted by the key market players operating globally. It entails an in-depth analysis of the factors influencing the global market and market statistics indicating region-wise and segment-wise market share/growth analysis. The report’s study will outlook one of the most exhaustive market analyses, capturing all the hormone replacement therapy market aspects.
The hormone replacement therapy market report provides a thorough analysis of macro-economic factors and every segment’s market attractiveness. The report will include an in-depth qualitative and quantitative assessment of the segmental/regional outlook with the market players’ presence in the respective segment and region/country. The information concluded in the report includes the inputs.
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