According to a report by TechSci Research titled “Global Hormone Replacement Therapy Market – Industry Size, Share, Trends, Competition, Opportunity, and Forecast 2018-2028,” the global hormone replacement therapy market is expected to experience a substantial Compound Annual Growth Rate (CAGR) during the forecast period. This growth can be attributed to the economic development of various countries and the increased healthcare expenditure worldwide.
Parathyroid hormone (PTH) is responsible for regulating calcium and phosphate levels in the body. It is commonly employed in treating osteoporosis, a prevalent condition among the elderly. The utilization of parathyroid hormones in hormone replacement therapy represents a recent advancement, demonstrating impressive results in enhancing bone density and minimizing fracture risks. Leading countries in terms of osteoporosis cases include the United States of America, Asia, and Europe. In the United States, over 10 million individuals suffer from osteoporosis, with an additional 44 million having low bone density, placing them at a higher risk of the condition. Similarly, Europe witnesses an estimated 22 million women and 5.5 million men above the age of 50 with osteoporosis. The increasing prevalence of bone-related ailments is driving the adoption of parathyroid hormone, contributing to the growth of the global hormone replacement therapy market.
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The integration of technological advancements with improvements in hormone replacement therapy has significantly propelled market growth. The introduction of diverse technologies has led to the emergence of novel delivery methods like transdermal patches, gels, and creams, rendering hormone replacement therapy more accessible and convenient for patients. The global hormone replacement therapy market has displayed steady growth over recent years, largely fueled by the rising demand for innovative drugs and products that offer enhanced safety and efficacy. Furthermore, the development of new drugs with improved safety profiles and fewer side effects has further stimulated market expansion. For example, selective estrogen receptor modulators (SERMs) like raloxifene and bazedoxifene have been developed as alternatives to traditional estrogen therapy for osteoporosis prevention and treatment. Hormone Replacement Therapy has also emerged as a promising avenue for managing cancers such as breast and prostate cancer. Prostate cancer cells rely on testosterone for growth and division; hormone replacement therapy reduces testosterone levels, thereby slowing down cancer cell growth. Hormone replacement therapy for prostate cancer usually involves drugs that inhibit testosterone production or its effects on cancer cells. Additionally, the economic growth of various nations worldwide, leading to increased healthcare spending on reliable therapeutic approaches, is projected to significantly contribute to the global hormone replacement therapy market’s growth in the forecast period.
Nevertheless, the potential adverse effects of these therapies and a scarcity of premium therapeutic products due to weak pipelines are expected to impede market growth in the coming years.
The global hormone replacement therapy market segmentation is based on product, route of administration, disease type, company, and region. Further categorization based on route of administration includes oral, parenteral, transdermal, and others. The oral segment is anticipated to dominate the market during the forecast period, attributed to its high prescription rate and ease of administration.
Some of the major companies operating in the global hormone replacement therapy market include:
- Bayer AG
- Pfizer Inc.
- Merck & Co., Inc.
- Viatris Inc.
- Novo Nordisk A/S
- Eli Lilly and Company
- F. Hoffmann-La Roche Ltd. (Genentech)
- Hisamitsu Pharmaceutical Co., Inc. (Noven Pharmaceuticals, Inc.)
- ASCEND Therapeutics US, LLC. (Besins Healthcare)
- AbbVie Inc.
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“Certain regions are expected to dominate the demand for hormone replacement therapy in the world. Improvement in quality of various therapeutic products due to the availability of multiple companies in the market which are manufacturing hormone replacement therapy products are expected to register an impressive growth to global hormone replacement therapy market in the forecast period,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based Global management consulting firm.
“Hormone Replacement Therapy Market – Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2018-2028 Segmented By Product (Estrogen & Progesterone Replacement Therapy, HGH Replacement Therapy, Thyroid Hormone Replacement Therapy, Testosterone Replacement Therapy, and Parathyroid Hormone Replacement), By Route of Administration (Oral, Parenteral, Transdermal, and Others), By Disease Type (Menopause, Hypothyroidism, Male hypogonadism, Growth hormone deficiency, and Hypoparathyroidism), By Region and Competition”, has evaluated the future growth potential of global hormone replacement therapy market and provides statistics & information on market size, structure, and future market growth. The report intends to provide innovative market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global hormone replacement therapy market.
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TechSci Research is a research-based management consulting firm providing market research and advisory solutions to its customers worldwide, spanning a range of industries. TechSci Research’s core values are value, integrity and insight. Led by a team of dynamic industry experts, TechSci Research provides its customers with high value market research and advisory services that helps them identify new market opportunities, growth engines and innovative ways to capture the market share. As a result, TechSci’s client leads rather than follow market trends. Not bound by legacy, TechSci’s cutting-edge research model leverages its decades of research knowledge and increased use of technology as engines of innovation to deliver unique research value. Provided as an alternative to traditional market research, TechSci Research reports do not just deliver data and knowledge rather highlights the insights in a more usable and interactive format for its clients.
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