The global hormone replacement therapy market is expected to witness significant growth during the forecast period. Ever use of hormone replacement therapy was stated as 43.5% and current use, as 35% of the women. Each one of the women experiences menopause differently, but symptoms such as hot flashes, mood changes, and other symptoms are common and hormone replacement are very helpful in this regard. In addition to this, Many studies showed that people on HRT therapy are most likely to have a low risk of COVID-19 infection and mortality rate.
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Data Bridge Market Research analyses a growth rate in the global hormone replacement therapy market in the forecast period 2022-2029. The expected CAGR of global hormone replacement therapy market tend to be around 6.9% in the mentioned forecast period. The market was valued at USD 31.4 billion in 2021, and it would grow upto USD 53.55 billion by 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Hormone replacement therapy is a kind of hormone therapy widely used in treating multiple endocrine diseases. This therapy works either as replacement or replacing the hormones which are deficient and is responsible to cause the disease. The most prominent use of hormone replacement therapy lies in the treatment of menopause’s symptoms in postmenopausal women.
Opportunities
Increased Clinical Studies and Government Initiatives
Rising awareness about the drugs and studies that are conducted for development in identifying the harmful compositions for the body that by government and private companies for better knowledge of these drugs is likely to drive the market growth.
Introduction of Novel Therapies
The growing involvement of major market players in the development of multiple novel therapies is resulting in the launch of new products in the market. For instance, Ascendis Pharma A/S received European Commission's market authorization in January 2022 for its drug SKYTROFA. It is used for the treatment of children and adolescents who are suffering from growth hormone disorders. This product is taken once a week for growth hormone deficiency in the pediatric population.
North America has been witnessing a positive growth for global hormone replacement therapy market throughout the forecast period due to the well-established healthcare infrastructure and increasing initiatives the pharmaceutical organizations took to generate novel formulation. Asia-Pacific dominates the market due to the increase’s cases of cardiovascular diseases and rapidly aging population.
The players operating in the Hormone Replacement Therapy Market are AbbVie Inc. (U.S.), Bausch Health Companies Inc. (Canada), Teva Pharmaceutical Industries Ltd. (Israel), Perrigo Company plc (Ireland), Cipla Inc. (India), Lupin (India), Sun Pharmaceuticals Industries Ltd. (India), Hikma Pharmaceuticals PLC (U.K.), Johnsons & Johnsons Services Inc (U.S.), Boehringer Ingelheim International GmbH (U.S.), Sanofi (France), AstraZeneca (U.K.), GSK Plc. (U.K.), Pfizer Inc. (U.S.), Amneal Pharmaceuticals LLC. (U.K.), Alvogen (U.S.) among others.
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