Hormone Replacement Therapy Market To Expand Industry Growth At USD 35.79 Billion By 2030

 San Francisco, 21 Sep 2022: The Report Hormone Replacement Therapy Market Size, Share & Trend Analysis By Product (Estrogen & Progesterone Replacement Therapy), By Route Of Administration, By Disease Type, By Region, and Segment Forecasts, 2022 - 2030

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.

Access Research Report of Hormone Replacement Therapy Market @ https://www.grandviewresearch.com/industry-analysis/hormone-replacement-therapy-market

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 

List of Key Players of Hormone Replacement Therapy Market

• Eli Lilly and Company
• Bayer AG
• Noven Pharmaceuticals, Inc.
• Pfizer Inc.
• Merck & Co., Inc.
• Viatris, Inc.
• Novo Nordisk A/S
• Hoffmann-La Roche Ltd.
• ASCEND Therapeutics US, LLC.
• AbbVie, Inc.

Access Press Release of Hormone Replacement Therapy Market @ https://www.grandviewresearch.com/press-release/global-hormone-replacement-therapy-market