Global Hormone Replacement Therapy Market, by Therapy Type (Estrogen Replacement Therapy, Human Growth Hormone (HGH) Replacement Therapy, Thyroid Replacement Therapy, and Testosterone Replacement Therapy), by Route of Administration (Oral, Parenteral, and Others), by Application (Hypothyroidism, Male Hypogonadism, Growth Hormone Deficiency, Menopause, and Others), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 13,556.7 Million in 2022 and is expected to exhibit a CAGR of 5.4% during the forecast period (2022-2030), as highlighted in a new report published by Coherent Market Insights.
Increasing collaborations among key companies to fast-track development of therapies for hormone replacement is expected to boost growth of the hormone replacement therapy market. For instance, in March 2018, Shire plc entered into a preclinical research collaboration with NanoMedSyn, a France- based Biotech Company, to develop enzyme replacement treatment for a lysosomal storage disorder based on NanoMedSyn’s synthetic derivative technology named AMFA.
Global Hormone Replacement Therapy Market– Impact of Coronavirus (COVID-19) Pandemic
The COVID-19 pandemic and lockdowns in various countries across the globe have impacted the financial status of businesses across all sectors, including the private healthcare sector. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry, mainly due to strict lockdown in several regions. Private healthcare is one such sector that has been impacted significantly by the COVID-19 pandemic.
However, the COVID-19 pandemic had a negative impact on the global hormone replacement therapy market, owing to decreased research and development activities for development of hormonal replacement therapy. For instance, in October 2020, according to data published by the National Center for Biotechnology Information, the clinical trials for development of vaccines were on priority. The clinical trial for the Morderna vaccine was on priority as the ongoing pandemic was having adverse effect on large number of population. Research and development activities for vaccines to prevent the coronavirus infection were fasten up to avoid the spread of the COVID-19 infection.
Global Hormone Replacement Therapy Market: Key Developments
In February 2022, Pfizer Inc., a pharmaceutical and biotechnology company, and OPKO Health, Inc., a medical test and medication company received the grant from the European Commission for marketing authorization for the next-generation long-acting recombinant human growth hormone NGENLA (somatrogon) a once-weekly injection to treat children and adolescents from 3 years of age with growth disturbance due to insufficient secretion of growth hormone. NGENLA provides pediatric patients, their caregivers and healthcare providers with a new treatment option for growth hormone deficiency (GHD) that reduces the frequency of required injections from once daily to once weekly.
Browse 23 Market Data Tables and 19 Figures spread through 151 Pages and in-depth TOC on “Global Hormone Replacement Therapy Market”- Forecast to 2030, Global Hormone Replacement Therapy Market, by Therapy Type (Estrogen Replacement Therapy, Human Growth Hormone (HGH) Replacement Therapy, Thyroid Replacement Therapy, and Testosterone Replacement Therapy), by Route of Administration (Oral, Parenteral, and Others), by Application (Hypothyroidism, Male Hypogonadism, Growth Hormone Deficiency, Menopause, and Others), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
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https://www.coherentmarketinsights.com/market-insight/hormone-replacement-therapy-market-2079
Key Takeaways of the Global Hormone Replacement Therapy Market:
- Global hormone replacement therapy market is expected to exhibit a CAGR of 5.4% during the forecast period due to manufacturers in hormone replacement therapy market being focused on expansion of their product portfolio through continuous launching of generic products, especially in the U.S. For instance, in January, 2018, Teva Pharmaceutical Industries Ltd. launched an authorized generic version of Estrace1 Cream (estradiol vaginal cream, USP, 0.01%), in the U.S. for the treatment of moderate to severe symptoms of vulvar and vaginal atrophy due to menopause. This launch is an important addition to Teva’s generic women’s health portfolio and their growing line of menopause treatments, which is expected to propel growth of the hormone replacement therapy market over the forecast period.
- Increasing adoption of hormone replacement therapies in various countries is expected to drive growth of market. In August 2017, Abbott Laboratories got regulatory approval in Russia and the Netherlands for oral dydrogesterone medicine. Dydrogesterone that was used for over 50 years to treat conditions related to progesterone insufficiency is approved as a treatment option for preparing the uterus in women who undergo in vitro fertilization (IVF) treatment in these countries.
- Among regions, North America is estimated to account for the largest market share in the global hormone replacement therapy market over the forecast period, owing to the rising incidences of hormonal imbalance disorders and increasing geriatric and neonatal population suffering from these diseases, which is expected to boost growth of market. For instance, in 2019, according to the statistics provided by the American Congress of Obstetricians and Gynecologists, around 6,000 women reach menopause on a daily basis in the U.S.
- Major players operating in the global hormone replacement therapy market include Novartis AG, Abbott Laboratories, Mylan NV, Merck KgaA, Bayer AG, Pfizer Inc., Novo Nordisk A/S, QuatRx Pharmaceuticals, Teva Pharmaceutical Industries Ltd., Amgen, Inc., and Eli Lilly and Company
