by Hormone Replacement Therapy involves usage of supplemental hormones to replace missing or depleted hormones in the body. It is commonly used to treat symptoms of menopause and andropause caused due to hormonal imbalance issues. HRT products are available in various forms including pills, creams, gels, skin patches, implants and injection to help improve quality of life.
The global Hormone Replacement Therapy Market is estimated to be valued at US$ 16460.66 Mn in 2023 and is expected to exhibit a CAGR of 4.7% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The growing prevalence of hormonal imbalance issues such as menopause symptoms among women and andropause among men has been a key driver propelling the demand for Global Hormone Replacement Therapy Market Size. According to estimates, over 5 million women in the U.S. alone suffer from symptoms of menopause each year requiring HRT for effective treatment. Similarly, hormonal decline during andropause in men leads to issues like decreased energy levels, depression and loss of libido. Rising health awareness about treatment options for such hormonal disorders through means like HRT has further contributed to the market growth over the forecast period.
SWOT Analysis
Strength: Hormone Replacement Therapy has many health benefits like relief from menopausal symptoms, protection against osteoporosis and heart diseases.
Weakness: Long term use of Hormone therapy can increase the risk of breast cancer, heart diseases, stroke and blood clots.
Opportunity: Growth in awareness about benefits of hormone therapy and rise in postmenopausal population can boost the market demand.
Threats: Strong competition from generic drugs and alternative therapies limits the market growth. Stringent regulations for approval of new hormone drugs is also a challenge.
Key Takeaways
The global Hormone Replacement Therapy market is expected to witness high growth. The global Hormone Replacement Therapy Market is estimated to be valued at US$ 16460.66 Mn in 2023 and is expected to exhibit a CAGR of 4.7% over the forecast period 2024 to 2031.
The North America region currently dominates the Hormone Replacement Therapy market share due to growing awareness about treatment and favorable reimbursement policies. Asia Pacific is expected to grow at fastest pace due to increasing women population, rising medical tourism and growing healthcare expenditure.
Key players related content comprises
Key players operating in the Hormone Replacement Therapy market are PlayNetwork, Inc., TouchTunes Music Corporation, Sirius XM Holdings, Inc., Almotech Media Solutions, Imagesound, Easy on Hold, Soundnet Limited (Soundjack), Xenox Music & Media B.V., Qsic Pty Ltd., Express Melody, OpenEar Music, Auracle Sound, Cloud Cover Music, and Mood Media Corporation. These players are focusing on new product launches, mergers and collaborations to gain higher market share.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
