Hormone replacement therapy (HRT) refers to a type of treatment in which low levels of hormones in the body are replenished.
SHERIDAN, WYOMING, UNITED STATES, November 11, 2022 /EINPresswire.com/ — According to IMARC Group’s recent report, titled “Hormone Replacement Therapy Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027,” provides a comprehensive analysis of the industry, comprising insights on size of the hormone replacement therapy industry. The report also includes regional and competitor analysis, and contemporary developments in the global market. The global market size for hormone replacement therapy reached USD 8.1 billion in 2021. Looking ahead, IMARC Group expects the market to reach USD 11.5 billion by 2027, showing a growth rate (CAGR) of 6 .1% during 2022-2027.
Hormones refer to chemical messengers that play essential roles in controlling fertility, mood, and growth in the human body. Hormone replacement therapy (HRT) is used to replenish hormones that are present in low levels in the human body. This treatment is particularly favorable for patients experiencing growth hormone deficiency, women approaching menopause, and elderly people suffering from hypogonadism. It is widely available in various forms such as estrogen and testosterone gels, injections, skin patches, and implants. It plays an important role in reducing hot flashes, the risk of osteoporosis, night sweats, pain, itching during intercourse, and vaginal dryness.
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As the novel coronavirus (COVID-19) crisis grips the world, we continually monitor changes in markets as well as consumer buying behaviors globally and our estimates on the latest market trends and forecasts made after considering the impact of this pandemic.
Global Hormone Replacement Therapy Market Trends:
One of the key factors driving the global market is the increasing prevalence of hormonal imbalance disorders among people. This is supported by the increasing number of patients suffering from hypogonadism all over the world. Along with this, continuous technological innovations such as the introduction of gel-based medicines are significantly supporting the global market. Furthermore, the growing awareness among consumers and the presence of regularly monitored formulations are creating a positive market outlook. Other factors, including the growing need for new treatment options with better safety outcomes and increasing investments by major players in extensive research and development (R&D) activities to introduce improved formulations, are also positively influencing market growth. .
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Competitive landscape with key players:
The report has also analyzed the competitive landscape of the market with some of the key players.
• Abbott Laboratories
• Bayer AG
• Eli Lilly and company
• Hisamitsu Pharmaceutical Co. Inc.
Hormone Replacement Therapy Market Segmentation:
Our report has classified the market based on region, product, route of administration, and disease type.
• Estrogen replacement therapy
• Human growth hormone replacement therapy
• Thyroid replacement therapy
• Testosterone replacement therapy
Breakdown by Route of Administration:
Breakdown by type of disease:
• Male hypogonadism
• Growth hormone deficiency
Breakdown by region:
• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)
Key points from the report:
• Market performance (2016-2021)
• Market Outlook (2022-2027)
• Porter’s five forces analysis
• Market drivers and success factors
• SWOT Analysis
• Value chain
• Comprehensive mapping of the competitive landscape
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