Hormone Replacement Therapy Market Size, Share, Trends, Growth 2032

Hormone Replacement Therapy Industry Prospective:

The global hormone replacement therapy market size was evaluated at $23.02 billion in 2023 and is slated to hit $38.47 billion by the end of 2032 with a CAGR of nearly 5.87% between 2024 and 2032.

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Hormone Replacement Therapy Market: Overview

Hormone replacement therapy is referred to as medical therapy involving the supplement or replacement of particular hormones in the body for treating hormone deficiency or imbalance. Reportedly, hormone replacement therapy is utilized for addressing health issues and symptoms related to hormonal deficiencies. It is extensively utilized for treating healthcare conditions including testosterone deficiency, menopause, growth hormone deficiency, and hypothyroidism.

Key Insights

•  As per the analysis shared by our research analyst, the global hormone replacement therapy market is projected to expand annually at the annual growth rate of around 5.87% over the forecast timespan (2024-2032)
• In terms of revenue, the global hormone replacement therapy market size was evaluated at nearly $23.02 billion in 2023 and is expected to reach $38.47 billion by 2032.
• The global hormone replacement therapy market is anticipated to grow rapidly over the forecast timeline owing to a flourishing online retail business and e-commerce activities.
• In terms of product, the estrogen & progesterone segment is slated to register the highest CAGR over the forecast period.
• Based on route of administration, the oral segment is predicted to lead the segmental space in the upcoming years.
• Based on disease type, the menopause segment is anticipated to make notable contributions toward the global market share in the ensuing years.
• Region-wise, the Asia-Pacific hormone replacement therapy industry is projected to register the fastest CAGR during the projected timespan.

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Hormone Replacement Therapy Market: Growth Factors

An increment in menopausal problems among women will boost the global market trends by 2032

An increase in the occurrence of menopausal issues along with a surge in consciousness about post-menopausal disorders in females is anticipated to steer the growth of the global hormone replacement therapy market. The launching of new modes of hormone replacement treatments is projected to spur the global market trends. The surge in the aging population along with rising post-menopausal issues can proliferate the expansion of the market globally. A prominent rise in the production of new drug delivery tools for hormone imbalance can enhance the scope of the global market demand. An increment in hormonal disorders is anticipated to embellish the growth of the market globally in the years ahead.

Hormone Replacement Therapy Market: Restraints

Surging prices of hormone replacement treatments to impede the global industry surge by 2032

Rising costs related to hormone replacement treatment along with adverse effects of hormone replacement therapy can impede the expansion of the global hormone replacement therapy industry.

Hormone Replacement Therapy Market: Opportunities

Surging consciousness related to hormone disorders can create new opportunities for growth for the global market

Less development of growth hormones witnessed in children has resulted in the humongous need for hormone replacement therapies, thereby creating new growth opportunities for the global hormone replacement therapy market. Rising knowledge about hormone disorders and deficiency is predicted to embellish the expansion of the global market.

Hormone Replacement Therapy Market: Challenges

Adverse effects caused to individuals due to hormone replacement treatment can challenge the global industry expansion over forecast period

Side effects such as osteoporosis related to hormone treatment can pose a huge threat to the global hormone replacement therapy industry growth. Additionally, causing heart attacks, blood clotting, strokes, and cataracts will steer the growth of the industry across the globe.  

Hormone Replacement Therapy Market: Segmentation

The global hormone replacement therapy market is divided into product, route of administration, disease type, and region.                                         

In product terms, the hormone replacement therapy market across the globe is segregated into estrogen & progesterone, parathyroid, growth hormone, HGH, thyroid, and testosterone segments. Furthermore, the estrogen & progesterone segment, which acquired nearly 65% of the global market revenue in 2023, is projected to register the fastest CAGR in the next seven years. The expansion of the segment in the forecast period can be due to a surge in the number of female population affected by menopause. 

On the basis of route of administration, the global hormone replacement therapy industry is segmented into parenteral, transdermal, and oral segments. Additionally, the oral segment, which amassed a key share of the global industry in 2023, is forecast to lead the segment in the upcoming years. The segmental growth over 2024 to 2032 can be owing to an increase in the rate of prescription of oral route of administrating medicines such as pills in patients by doctors.

Based on the disease type, the hormone replacement therapy market globally can be divided into growth hormone deficiency, hypothyroidism, hyperparathyroidism, male hypogonadism, and menopause segments. Furthermore, the menopause segment, which garnered a major share of the global market in 2023, is anticipated to dominate the segment growth in the upcoming years. The growth of the segment in the next few years can be due to a prominent surge in the women population suffering from menopause.

Hormone Replacement Therapy Market: Report Scope

Hormone Replacement Therapy Market: Regional Insights

North America is predicted to maintain the leading position in the global hormone replacement therapy market in the upcoming years

North America, which accounted for nearly 58% of the global hormone replacement therapy market proceeds in 2023, is expected to set up a dominant position in the next decade. Additionally, the regional market expansion in the upcoming years can be ascribed to the massive use of telemedicine for hormone replacement therapy in countries such as the U.S. and Canada. Apart from this, a surge in the aging population along with an increase in the cases of pre-menopause incidences in these countries along with hormone deficiencies in people will further boost the regional market growth.

Asia-Pacific hormone replacement therapy industry is slated to record the fastest CAGR in the forecast timespan. The progress of the industry in the region can be attributed to favorable compensation policies along with the occurrence of vasomotor symptoms related to menopause in the population of countries such as India and China.

Key Developments

• In the first half of 2022, Halozyme Therapeutics, Inc., launched TLANDO, an oral therapy used for testosterone replacement in adult males for treating testosterone deficiency in adult males.
• In the first quarter of 2022, Pfizer Inc. and OPKO Health declared that it received approval for marketing its human growth hormone referred to as NGENLA by the EU.

Hormone Replacement Therapy Market: Competitive Space

The global hormone replacement therapy market profiles key players such as:

• AbbVie Inc.
• Novartis International AG
• Eli Lilly and Company
• Novo Nordisk A/S
• Bayer AG
• Merck & Co. Inc.
• GlaxoSmithKline plc
• Amgen Inc.
• Viatris Inc.
• Mylan N.V.
• Ferring Pharmaceuticals
• Pfizer Inc.
• TherapeuticsMD Inc.
• Teva Pharmaceutical Industries Ltd.
• Sanofi S.A.
• Allergan plc
• Johnson & Johnson
• Abbott Laboratories
• Ipsen S.A.

The global hormone replacement therapy market is segmented as follows:

By Product

• Estrogen & Progesterone
• Growth Hormone
• Thyroid
• Parathyroid
• HGH
• Testosterone

By Route of Administration

• Parenteral
• Transdermal
• Oral

By Disease Type

• Growth Hormone Deficiency
• Hypothyroidism
• Hyperparathyroidism
• Male Hypogonadism
• Menopause

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa