Hormone Replacement Therapy helps treat symptoms related to menopause like hot flashes, vaginal dryness, irregular periods, etc. It replaces hormones that are at lower levels as women approach and go through menopause. The increasing incidences of menopausal diseases especially in developing nations due to growing geriatric population and changing lifestyle is driving the demand for Hormone Replacement Therapy.
Market key trends:
The increasing prevalence of menopause due to rising aging population is one of the major key trends driving the growth of the Hormone Replacement Therapy market. It is estimated that over 1 billion women worldwide will be postmenopausal by the year 2030. The symptoms associated with menopause significantly impact quality of life. Thus, women are increasingly adopting Hormone Replacement Therapy owing to its effectiveness in managing these symptoms. Furthermore, development and approval of novel drug delivery methods for existing hormone replacement therapies has also contributed to the market growth. For instance, transdermal patches and gels are becoming popular options due to ease of use over oral pills.
Segment Analysis
The global hormone replacement therapy market is dominated by the estrogen hormone replacement therapy sub segment. This is because estrogen deficiency issues are more common among women as compared to growth hormone or testosterone deficiency. Around 85% of women experiencing menopause symptoms opt for estrogen therapy.
Key Takeaways
The global hormone replacement therapy market is expected to witness high growth over the forecast period. Rising population of menopausal and post-menopausal women worldwide due to increased life expectancy will drive the demand for hormone replacement therapies. Oral capsules and patches are the most commonly used delivery options for HRT and account for over 60% of the market share. The global Global Hormone Replacement Therapy Market is estimated to be valued at US$ 14288.76 Mn in 2023 and is expected to exhibit a CAGR of 4.6%over the forecast period 2023 to 2030.
Regional analysis
North America leads the global HRT market and is expected to maintain its dominant position during the forecast period. High awareness levels regarding benefits of managing menopausal health and an increasing number of women seeking effective treatment options fuels market growth in the region. Asia Pacific hormone replacement therapy market is poised to witness the fastest growth rate owing to rapidly aging population leading to rise in incidence of post-menopausal issues.
Key players
Key players operating in the hormone replacement therapy market are CMC Consumer Medical Care GMBH, Shiseido Co. Ltd., Sisma S.P.A, TZMO SA, L&R USA Inc., Unicharm Corporation, and PT Cottonindo Ariesta Tbk. CMC Consumer Medical Care GMBH dominates the global market with wide distribution channels and product portfolio comprising of alternatives for managing menopause symptoms. Shiseido focuses on skin-centric HRT through specialized products.
Get More Insights On This Topic: https://www.newsanalyticspro.com/hormone-replacement-therapy-market-scope/
Comments
0 comment