Dallas, Feb. 17, 2022 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global hormone replacement therapy market is expected to grow from USD 19.86 billion in 2020 to USD 46.21 billion by 2028, at a CAGR of 11.29% during the forecast period 2021-2028.
Hormone replacement therapy is one of the most effective treatment for menopausal symptoms. Menopause marks the end of the menstruation cycle among the women. In the menopause, the hormone level of estrogen and progesterone gradually decreases that play important roles in a woman’s body. The falling level of hormones can cause the physical and emotional symptoms such as hot flushes, night sweat, sleeping disturbance, mood swings and vaginal dryness. Hormone replacement therapy restores the hormones in the females.
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A hormone replacement therapy is a treatment to replace the natural hormone when the body does not produce enough hormone. The hormonal replacement therapy is generally used to treat the menopause symptoms and to protect long term health. In male hormone replacement therapy, testosterone hormone is given to the man. Testosterone hormone is responsible for the development of male sex organs and producing male characteristics such as muscularity and facial hairs. Currently, the combination of drugs are used for hormone replacement therapy. The hormone replacement therapy can be given to various forms, including oral, parenteral, and transdermal.
Global hormone replacement therapy market is witnessing a rapid growth from the past few years. Increasing demand for hormone replacement therapy to treat post-menopausal issues among women is one of the key contributing factors in the growth of the market. In addition to this, the rise in geriatric population with the hormonal imbalance, driving the demand for hormone replacement therapy. Furthermore, increasing awareness about the hormone replacement therapy, especially in the developing countries, further boosting the growth of the market. However, hormone replacement therapy has a higher risk to develop breast cancer among the women, which may limit the growth of the market over the forecast period.
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Some of the key players in the global hormone replacement therapy market are Pfizer, Inc., Mylan Laboratories, Novartis, Eli Lilly, Abbott Laboratories, Novo Nordisk, Merck and Co., Bayer Healthcare, and Genentech among others. The key players are now concentrating on implementing strategies such as adopting new technology, product innovations, mergers & acquisitions, joint venture, alliances and partnerships to improve their market position in the global hormone replacement therapy industry.
• In May 2019, Novartis announced that the company received an approval Piqray (alpelisib, formerly BYL719) the first and only treatment specifically for the treatment of postmenopausal women, and men.
• In January 2018, Mylan Laboratories announced the U.S. launch of Estradiol Vaginal Cream USP, 0.01%, the first generic version of Allergan's Estrace Cream which is indicated in the treatment of vulvar and vaginal atrophy.
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Human growth hormone replacement therapy is projected to grow at the highest CAGR of 12.09% over the forecast period
The type segment is divided into estrogen hormone replacement therapy, human growth hormone replacement therapy, thyroid hormone replacement therapy, testosterone hormone replacement therapy, and others. Human growth hormone replacement therapy is projected to grow at the highest CAGR of 12.09% over the forecast period. Increasing usage of human growth hormone replacement therapy in children, who are unable to produce the growth hormone, driving the growth of the market.
The parental route of administration segment held the major market share of 39.67% in the year 2020
The route of administration segment classified into oral, parenteral, transdermal, and others. The parental route of administration held the major market share of 39.67% in the year 2020. It is one of the most commonly used route of administration for the drug delivery. It offers many advantages, such as it acts immediately and allow the administrator to control drug delivery.
The menopause segment dominated the global hormone replacement therapy market of 69.56% in the year 2020
The disease type segment is classified into menopause, hypothyroidism, male hypogonadism, growth hormone deficiency, and others. The menopause segment dominated the global hormone replacement therapy market of 69.56% in the year 2020. The hormonal replacement therapy is the commonly used treatment to balance the estrogen and progesterone level among the women who are around the time of menopause.
Regional Segment Analysis of the Hormone replacement therapy Market
• North America (U.S. , Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
• Asia-Pacific (China, Japan India, Rest of APAC)
• South America (Brazil and Rest of South America)
• Middle East and Africa (UAE, South Africa, Rest of MEA)
The North America region dominated the global hormone replacement therapy market and valued at USD 10.26 billion in the year 2020. Increasing the usage of hormonal replacement therapy among women after menopause is one of the key driving factors for the growth of the market in North America. For instance, In the United States, more than 1.3 million women reach menopause annually. Thus, there is a high demand for the hormone replacement therapy. In addition to this, the presence of key market players across the region, further propelling market growth. On the other hand, the Asia Pacific region is anticipated to grow at the highest CAGR of 12.5% over the forecast period. Rising geriatric population in the countries such as Japan and South Korea, boosting the growth of the market. In addition to this, growing awareness about the hormone replacement therapy, further propelling the growth of the market in the Asia Pacific region.
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About the report:
The global hormone replacement therapy market is analyzed on the basis of value (USD billion). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter's five forces model, attractiveness analysis, and competitor position grid analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.
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