Hormone Replacement Therapy Market Size, Share, Opportunities, And Trends By Therapy (Estrogen Hormone Replacement Therapy, Human Growth Hormone Replacement Therapy, Thyroid Hormone Replacement Therapy, Testosterone Hormone Replacement Therapy, Progestogen Hormone Replacement Therapy), By Route of Administration (Oral, Parenteral, Others), By Indication (Menopause, Hypothyroidism, Growth Hormone Deficiency, Others), And By Geography - Forecasts From 2023 To 2028

The hormone replacement therapy market was valued at US$21.265 billion in 2021.

The hormone replacement therapy market is anticipated to grow at a steady pace throughout the forecast period. Hormone Replacement Therapy (HRT) is a medical treatment involving the use of hormones to alleviate the symptoms of hormone deficiency or to achieve a specific therapeutic goal. It's commonly used to manage symptoms associated with menopause in women. The increasing prevalence of post-menopausal issues along with the expanding application in other disorders is a major growth driver of the hormone replacement therapy market. Moreover, advancements in drug delivery systems along with the aging population and favorable government measures are further expected to stimulate the hormone replacement therapy market expansion.

Increasing Prevalence of Post-Menopausal Issue

The increasing prevalence of post-menopausal issues has a significant impact on the hormone replacement therapy (HRT) market. As more women experience post-menopause, there is a growing demand for effective treatments to alleviate the symptoms and improve their quality of life. For instance, according to the NCBI data published in July 2020, the prevalence of menopausal symptoms was approximately 87%. Around 80% of women suffered anxiety, followed by 71% of women who had mental exhaustion and 61% of women who suffered sleep problems.

Expanding Application in Other Disorders

There is ongoing research and exploration into hormone replacement therapy's potential applications for other disorders and conditions. This expanding application is expected to augment the hormone replacement therapy market. For instance, hormone replacement therapy is the most appropriate choice to prevent bone loss for healthy women as per the updated statement on the prevention and treatment of osteoporosis by North American Menopause Society in September 2021. Moreover, the NCBI reports that observational data indicate that postmenopausal hormone replacement treatment is linked to a 25% to 50% decreased incidence of cardiovascular disease.

Favorable Government and Institutional Activities

Positive government and institutional activities play a significant role in shaping the hormone replacement therapy (HRT) market. Rising efforts and measures are therefore accelerating the hormone replacement therapy market. For instance, NHS England released a new HRT prescription prepayment scheme in April 2023 that will help around 400,000 women save hundreds of pounds annually with costs reduced to less than £20 a year. This certificate is available to get online or in some pharmacies and can be used as many times as needed throughout the year.

Aging Population

As the global population ages, there is an increased demand for treatments that address age-related health issues. Hormone deficiencies and menopausal symptoms are common concerns among older individuals, driving the demand for hormone replacement therapies. In most cases, menopause sets in between the ages of 45 and 55 as a normal byproduct of biological aging. Therefore, the growing geriatric population is expected to drive the market expansion. For instance, according to the WHO, Women over the age of 50 made up 26% of all women and girls worldwide in 2021. An average woman in the world in 2019 who is 60 years old can anticipate an additional 21 years of life.

Advancements in Drug Delivery Systems

Advancements in drug delivery systems have significantly impacted the hormone replacement therapy market by improving the administration, effectiveness, and patient experience of hormone treatments. For example, advances in compounding technology have allowed for the creation of bioidentical hormones that closely mimic the body's natural hormones. Long-acting injectable formulations, such as depot injections, provide sustained hormone release over an extended period.  Further, the integration of technology into drug delivery devices, such as smartphone apps and wearable devices is providing reminders for medication administration and monitoring treatment adherence.

Restraints in the Market

The hormone replacement therapy market has experienced growth and development however some restraints or challenges can impact its expansion. Despite efforts to increase awareness, there is still a lack of understanding among some women and healthcare providers about the benefits and risks of HRT. This can lead to underutilization of these treatments when they could be beneficial. For instance, according to the observational study conducted by NCBI in 2020 to know the knowledge and awareness among women in Dubai, around 82% of women did not have knowledge of menopause and 48% didn't know about the use of hormone therapy.

North America is Expected to Grow Considerably

North America is expected to hold a significant share of the hormone replacement therapy market during the forecast period. The factors attributed to such a share are a higher geriatric population, increased adoption of HRT, thyroid disorder, government approvals, and research advancements. For instance, nearly half of all post-menopausal women in the United States reported using HRT at least once throughout their lives, according to the National Institutes of Health (NIH). Additionally, In December 2020, the United States Food and Drug Administration (FDA) approved Orgovyx (relugolix), a product developed by Myovant Sciences. Orgovyx is an orally administered therapeutic intervention that functions by inhibiting the secretion of luteinizing hormone and follicle-stimulating hormone from the pituitary gland.

Major Market Players

• Avista Women’s Care is a Biote Certified Provider in Louisville and Lafayette, CO. Bioidentical hormone replacement therapy is offered by the company. Pellets, roughly the size of a grain of rice, are used by the Biote Method to optimize hormone levels. These small pellets are inserted beneath the skin by the doctor at AWC Wellness and Aesthetics during a quick office procedure.
• Thrivelab established in 2020 operates a HIPAA-compliant online platform catering to both women and men who are in search of personalized bioidentical hormone replacement therapy. It has served 250K+ patients with 79% reported improvements within 90 days of therapy.

Key Market Developments

• In September 2022, Novo Nordisk launched OTC HRT treatment in the UK. It is the first hormone replacement therapy drug sold without a prescription in the country.
• In September 2021, Theramex launched Bijuva®/Bijuve® across Europe and UK. It was the first body-identical hormone therapy treatment for estrogen deficiency symptoms in postmenopausal women with an intact uterus. These are chemically and biologically identical to the hormones circulating in the woman’s body.

Segmentation:

• By Therapy
  • Estrogen Hormone Replacement Therapy
  • Human Growth Hormone Replacement Therapy
  • Thyroid Hormone Replacement Therapy
  • Testosterone Hormone Replacement Therapy
  • Progestogen Hormone Replacement Therapy
• By Route of Administration
  • Oral
  • Parenteral
  • Others
• By Indication
  • Menopause
  • Hypothyroidism
  • Growth Hormone Deficiency
  • Others
• By Geography
  • North America
    • United States
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Israel
    • Others
  • Asia Pacific
    • Japan
    • China
    • India
    • South Korea
    • Indonesia
    • Thailand
    • Others

1.  INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base, and Forecast Years Timeline

2. RESEARCH METHODOLOGY  

2.1. Research Data

2.2. Assumptions

3. EXECUTIVE SUMMARY

3.1. Research Highlights

4. MARKET DYNAMICS

4.1. Market Drivers

4.2. Market Restraints

4.3. Porter’s Five Force Analysis

4.3.1. Bargaining Power of Suppliers

4.3.2. Bargaining Power of Buyers

4.3.3. Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis

5. HORMONE REPLACEMENT THERAPY MARKET, BY THERAPY

5.1. Introduction

5.2. Estrogen Hormone Replacement Therapy

5.3. Human Growth Hormone Replacement Therapy

5.4. Thyroid Hormone Replacement Therapy

5.5. Testosterone Hormone Replacement Therapy

5.6. Progestogen Hormone Replacement Therapy

6. HORMONE REPLACEMENT THERAPY MARKET, BY ROUTE OF ADMINISTRATION

6.1. Introduction

6.2. Oral

6.3. Parenteral

6.4. Others

7. HORMONE REPLACEMENT THERAPY MARKET, BY INDICATION

7.1. Introduction

7.2. Menopause

7.3. Hypothyroidism

7.4. Growth Hormone Deficiency

7.5. Others

8. HORMONE REPLACEMENT THERAPY MARKET, BY GEOGRAPHY

8.1. Introduction

8.2. North America

8.2.1. United States

8.2.2. Canada

8.2.3. Mexico

8.3. South America

8.3.1. Brazil

8.3.2. Argentina

8.3.3. Others

8.4. Europe

8.4.1. United Kingdom

8.4.2. Germany

8.4.3. France

8.4.4. Spain

8.4.5. Others

8.5. The Middle East and Africa

8.5.1. Saudi Arabia

8.5.2. UAE

8.5.3. Israel

8.5.4. Others

8.6. Asia Pacific

8.6.1. Japan

8.6.2. China

8.6.3. India

8.6.4. South Korea

8.6.5. Indonesia

8.6.6. Thailand

8.6.7. Others

9. COMPETITIVE ENVIRONMENT AND ANALYSIS

9.1. Major Players and Strategy Analysis

9.2. Market Share Analysis

9.3. Mergers, Acquisitions, Agreements, and Collaborations

9.4. Vendor Competitiveness Matrix

10. COMPANY PROFILES

10.1. Biote

10.2. Harmony HRT

10.3. Thrivelab

10.4. HerKare

10.5. Transcend Company

10.6. Avista Women’s Care

10.7. Cleveland Clinic

10.8. Restorative Health

10.9. Jenner Healthcare

Biote

Harmony HRT

Thrivelab

HerKare

Transcend Company

Avista Women’s Care

Cleveland Clinic

Restorative Health

Jenner Healthcare