The hormone replacement therapy market is foreseen to expand at a significant pace with sales of hormone replacement therapy products crossing US$ 12,000 Mn by 2019 end. Rising incidences of osteoporosis fractures coupled with growing menopause rates among women have remained instrumental in driving the demand for hormone replacement therapy. Fact.MR envisages that the demand for hormone replacement therapy is projected to expand at a CAGR of 6.0% in terms of value throughout the period of forecast, 2018-2028.
Disorders associated with hormonal imbalance continue to influence the use of hormone replacement therapy worldwide. Hormone replacement therapy demand is further pushed with macroeconomic aspects such as growing geriatric population and significant increase in healthcare expenditure worldwide. Growing age directly impacts secretion of hormones such as progesterone and estrogen in women, which is expected to trigger the use of estrogen hormone replacement therapy.
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Expanding range of menopausal window (45-55 years) coupled with growing number of postmenopausal patients are few of the key factors influencing the growth of the hormone replacement therapy market. According to the report, the demand for estrogen hormone replacement therapy is expected to grow on the back of growing menopausal rate worldwide. The sales of estrogen hormone replacement therapy are likely to surpass US$ 18,000 Mn by 2028, higher than those of other hormone replacement therapy products including thyroid and growth hormone related hormone replacement therapy products, says the report.
Sales of hormone replacement therapy products through hospital pharmacies and retail pharmacies are likely to be on an upswing with developers of hormone replacement therapy products relying on these channels than online selling. Retail pharmacies are expected to remain an attractive distribution channel for hormone replacement therapy products, with sales accounting for a larger revenue share of the overall hormone replacement therapy market. The sales of hormone replacement therapy through clinics are projected to grow at a steady during the 2018-2028 timeline.
The hormone replacement therapy market is expected to remain influenced by increasing government support apropos to women’s health. Governments and non-profit organizations of various countries are spreading awareness regarding hormone replacement therapy along with providing free treatments to lower and middle class people. Regulatory authorities such as FDA are also contributing to the cause of supporting women’s health by launching initiatives such as Take Time To Care (TTTC) programs. This aspect is likely to support the growth of the hormone replacement therapy market in the coming years.
Sales of hormone replacement therapy products are likely to remain concentrated among developed countries of North America and Europe. Tug-of-war between North America and Europe apropos to demand for hormone replacement therapy has been witnessed since the past couple of years, with the latter gaining tempo over the former, says the report.
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Stakeholders in the hormone replacement therapy can find attractive opportunities in developed countries in North America, particularly the United States. According to the American Congress of Obstetricians and Gynecologists, around 6,000 women reach menopause every day, reaching a count of over 2 million annually. This has translated into significant adoption of hormone replacement therapy in the country. The demand for hormone replacement therapy in the US is also accompanied by higher GDP per capita, triggering high healthcare expenditure.
The report also foresees that the hormone replacement therapy market in Asia Pacific excluding Japan (APEJ) region is poised to expand at a relatively higher pace as compared to other regions. According to the report, the APEJ hormone replacement therapy market is projected to expand at a stellar pace of 7.2% during the assessment period. This growth can be attributed to increasing population coupled with higher life expectancy in emerging economies such as India and China. Against this backdrop, stakeholders in hormone replacement therapy market can expect optimistic growth in the region in the years to follow, leveraging its lucrativeness from an investment standpoint.
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Estrogen Replacement Accounts for Over 80% of Hormone Replacement Therapy Market Revenues, Key Drive
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