Hormone replacement therapy or HRT helps reduce many discomforting menopausal symptoms like hot flashes, night sweats, mood swings, vaginal dryness, etc. by replacing hormones that are low or missing due to menopause. It provides relief from menopausal symptoms and also helps in preventing or treating certain long-term health issues in postmenopausal women. The global Hormone Replacement Therapy Market is estimated to be valued at US$ 8.1 billion in 2023 and is expected to exhibit a CAGR of 4.7% over the forecast period 2023.
Market key trends:
The increased demand for minimizing menopausal symptoms such as hot flashes, vaginal dryness, and night sweats has accelerated the growth of the hormone replacement therapy market. According to the North American Menopause Society, >75% of women experience vasomotor symptoms during the menopausal transition and early postmenopause. Hormone replacement therapy has proven to be an effective way of managing these symptoms. It alleviates anxiety, mood swings, irritability caused due to hormonal changes during menopause. This has driven more women to opt for HRT to maintain their quality of life. The availability of various product formulations like tablets, patches, and gels catering to individual needs and lifestyles has also fueled the market growth.
Segment Analysis
The global Hormone Replacement Therapy market is segmented on the basis of therapy type, route of administration, and distribution channel. Based on therapy type, the estrogen replacement therapy segment currently dominates the market. This is because estrogen therapy helps in relieving symptoms of menopause like hot flashes and night sweats. The route of administration segment is divided into oral and topical. The oral segment holds a larger market share due to ease of administration. The distribution channel segment includes hospital pharmacies, retail pharmacies, and online pharmacies. Retail pharmacies dominate as they provide convenient access.
Key Takeaways
The global Hormone Replacement Therapy MARKET Trends is expected to witness high growth over the forecast period of 2023.
Regional analysis: In North America, the U.S. accounts for the largest share in the Hormone Replacement Therapy market due to established healthcare infrastructure and supportive reimbursement policies for menopause therapies. Europe follows North America with the U.K. and Germany being the major revenue contributors. Asia Pacific is expected to grow at the fastest rate led by emerging economies like China and India experiencing increasing awareness of HRT to manage menopause symptoms.
Key players: Key players operating in the Hormone Replacement Therapy market are Pfizer Inc., Novartis, Bayer AG, Eli Lilly and Company, Merck KGaA. Pfizer Inc. currently holds the leading position due to its broad product portfolio for managing menopause through hormone therapies, which include Premarin and Prempro.
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