The hormone replacement therapy market size is expected to grow from US$ 8.46 billion in 2023 to US$ 14.82 billion by 2031; it is anticipated to record a CAGR of 7.3% from 2023 to 2031.

Market Drivers of the Hormone Replacement Therapy Market

An increasing number of women experience the long-term effects of menopause and live longer after it as life expectancy rises. Most women's health is significantly impacted by the menopause and climacteric phase, which can cause a range of symptoms such as vasomotor, psychological, and sexual problems, as well as an increased risk of atherosclerosis and osteoporosis. The long-term objectives of post-menopausal hormone replacement therapy are the reduction of cardiovascular risks and the prevention of osteoporosis. Hormone replacement therapy recipients who are post-menopausal have a reduced incidence of coronary artery disease by about half when compared to non-users. Numerous estrogen preparations are available for different modes of administration. The decision is based on convenience, side effects, and indications. The most popular preparation is oral estrogen, followed by transdermal preparation. Thus, the increasing prevalence of menopause leads to a surge in demand for hormone replacement therapy products and thereby fuels the hormone replacement therapy market growth.

Opportunities in the Hormone Replacement Therapy Market

Hormone replacement therapy (HRT) presents various medical, research, and business opportunities. HRT services can be provided by medical professionals who specialize in internal medicine, gynecology, or endocrinology within their practice. This includes determining whether a patient has hormone imbalances or deficiencies, recommending the best hormone replacement therapy, and keeping track of the patient's development. Technological developments can enhance the administration and tracking of hormone replacement treatments. This covers the creation of subcutaneous implants, transdermal patches, and customized dosage schedules derived from biomarker or genetic information. As a result, major industry participants carry out clinical trials to assess the efficacy and safety of novel hormone replacement treatments. This leads to creating ample opportunities in the market

Hormone Replacement Therapy Market: Segmental Overview

By product, the market is divided into estrogen hormone replacement, growth hormone replacement, thyroid hormone replacement, testosterone replacement, and others. The estrogen hormone replacement segment held a larger market share in 2023. The market, by application, is categorized into menopause, growth hormone (GH) deficiency, hypothyroidism, hypogonadism, and others. The menopause segment held the largest estrogen hormone replacement market share in 2023. It is further anticipated that the highest CAGR will be registered during the forecast period. In terms of route of administration, the market is segmented into oral, parenteral, and others. The oral segment holds the major share in 2023, and it is anticipated to register the highest CAGR during the forecast period. By end user, the market is divided into hospitals, specialty clinics, and others. The hospital segment held the major market share in 2023

Hormone Replacement Therapy Market: Geographical Overview

The hormone replacement therapy market in Asia Pacific is expected to grow at the highest CAGR during the forecast period. North America accounted for the largest share of the global market in 2023. The growing adoption of the latest medical technologies, the prevalence of menopause, and product innovations by key players contribute to the expansion of North America's hormone replacement therapy market size. For instance, in June 2023, following a voluntary recall, Pfizer Inc. declared that DUAVEE (conjugated estrogens/bazedoxifene), an estrogen-based menopause hormone therapy, is now available again in the United States in better packaging. The product itself did not pose any safety or efficacy risks; rather, the recall was brought about by a problem with the packaging. The U.S. Food and Drug Administration (FDA) approved Duavee in October 2013 for the prevention of post-menopausal osteoporosis and the treatment of moderate-to-severe vasomotor symptoms, or hot flashes, that are related to menopause.

A few of the major primary and secondary sources referred to while preparing the report on the hormone replacement therapy market are the World Bank Data, National Health Service (NHS), FDA (Food and Drug Administration), EMA (European Medicines Agency), and WHO (World Health Organization).