The global Hormone Replacement Therapy Market is expected to reach USD 35.79 billion by 2030, according to a new study by Grand View Research Inc. expanding at a CAGR of 6.4% from 2022 to 2030. The growth in the hormone replacement therapy market is largely attributable to the rising prevalence of hormonal disorders coupled with technological advancements in drug delivery systems. According to the National Organization of Rare Diseases, there are around 70,000 people with hypoparathyroidism in the U.S.
Technological
advancements to minimize the side effects and enhance drug bioavailability are
expected to boost the market growth. Due to better bioavailability, the
treatment frequency increases. Products such as NGENLA, which is used to treat
growth hormone deficiency, require a once-a-week dosage, which ensures better
patient compliance. Furthermore, improvement in the route of administration is
expected to boost the adoption of products. For instance, intranasal estrogen
medication such as Nafarelin is comparatively more compliant in women than the
conventional method.
Companies
are taking initiatives such as collaboration, partnership, and agreement to
expand their business footprint and generate revenue. For instance, in September
2021, Merck & Co., Inc. entered into an agreement with BIOCORP, a French
company, for the development and distribution of the HGH monitoring device,
Mallya. It is used to monitor and track daily HCG treatment. Such strategies
are anticipated to propel the market growth during the forecast period.
Moreover,
the launch of new hormone replacement therapy medicines in the market is
anticipated to drive market growth. For instance, in November 2021, Fuji Pharma
Co, Ltd. announced the launch of F-meno (100 mg capsule) for the prevention of
endometrial hyperplasia on the administration of estrogen drugs for menopausal
disorders. F-memo is an orally administered drug and is included in Japan’s
National Health Insurance Drug Price list. This initiative may boost the
prescription rate for hormone replacement therapy drugs, thereby driving the
market growth.
However,
severe adverse effects act as key restraints for market growth. The FDA has
identified certain drugs in estrogen therapy that can cause adverse reactions
and increase the risk of cancer in women. Premarin and Prempro, manufactured by
Pfizer, are found to be associated with inducing cancer.
Related Press
Release@ Hormone Replacement Therapy Market Report
Hormone Replacement Therapy Market Highlights
- Based on the
product, the estrogen & progesterone replacement therapy segment
dominated the market in 2021 and is estimated to maintain its dominance
during the forecast period due to high demand due to the increasing number
of women reaching menopause
- Parathyroid
hormone replacement therapy is anticipated to witness the fastest growth
during the forecast period due to the rising adoption of hormone
replacement for the treatment of hypoparathyroidism
- Based on the
route of administration, the oral segment dominated the market in 2021
owing to the high prescription rate. Around 120 million prescriptions of
Levothyroxine sodium tablets are being dispensed annually in the U.S
- Parenteral
is expected to witness the fastest growth. The development and approval of
long-acting products are expected to boost segment growth. For instance,
in October 2021, Pfizer, Inc. received approval for its NGENLA (somatrogon),
a once-a-week long-acting recombinant human growth hormone, from Health
Canada for the treatment of a patient with growth hormone deficiency
- Menopause
disease type segment dominated the market in 2021 due to the rising number
of women in the age group of 45 to 60 years and increasing incidence of
vasomotor symptoms that may lead to severe conditions, such as
osteoporosis, which are projected to fuel market growth
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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