Hormone Replacement Therapy Market: Rising incidences of hormonal imbalance disorders is the primary drivers of this market
Global Hormone Replacement Therapy Market: Overview
Hormone replacement therapy refers to the treatment of the patients with growth hormone deficiency due to conditions such as dwarfism or women nearing menopause, which requires replacement of hormones in the body whose levels have become low. Currently, a combination of drugs are used to treat hormone deficiencies, which are known to have better safety and efficacy parameter. Globally, the cases of hormone deficiency is escalating and a vast patient base are deprived of the proper treatment. These two factors are the primary drivers of the hormone replacement therapy market, which is projected for a healthy growth rate during the forecast period of 2016 to 2024.
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This report on global hormone replacement therapy market is a comprehensive analysis of all the factors that are expected to influence the growth rate in near future, presents a figurative estimation of the opportunities available, and profiles some of the key players currently active to give a clear picture of the competitive landscape. The global hormone replacement therapy market can be segmented on the basis of type of therapy, route of administration, and geography. By type of therapy, the market can be divided into estrogen replacement therapy, which remains most in-demand, and growth hormone replacement therapy. By route of administration, the market can be segmented into oral, parenteral, and transdermal. The oral route of administration is a sub-division of enteral administration and is considered the safest routes of drugs administration. Premarin and Estrace are some of the examples of oral administration route.
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Global Hormone Replacement Therapy Market: Trends and Opportunities
The rising incidences of hormonal imbalance disorders and increasing geriatric population as well as the neonatal population suffering from hormonal deficiency are the primary drivers of this market. Technological advancements in the field of drug delivery systems, presence of routinely monitored formulations, and increasing awareness among the consumers are others factors favoring the growth rate of the market. Additionally, the report also observes that menopausal females form a major chunk of the demand. Consequently, the rising population of female between the age group of 45 to 59, which thereby increases the range of menopausal window, is adding to the demand in the global hormone replacement therapy market. As per the American Congress of Obstetricians and Gynecologists, nearly 6,000 women reach menopause on a daily basis, in the country of the U.S. alone.
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Aggressive direct selling campaigns by the key players to individuals aspiring quality life, development of new gel-based formulations, and increasing product availability of other factors that are expected to promote the market during the forecast period. Conversely, high cost of these therapies, some of the side-effects, shortage of products owing to weak pipeline are some of the factors expected to hinder the growth rate. The report also picks out some of the trends of the market, such as novel drug delivery mechanisms, mergers and acquisitions, and paradigm shift towards non-hormonal therapies.
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Global Hormone Replacement Therapy Market: Region-wise Outlook
The country-wide market of the U.S. continues to make North America the most lucrative region in the global hormone replacement therapy market. Increasing cases of hypothyroidism, hypogonadism, and other growth hormone deficiencies, coupled with swelling population of newborns are the key factors that is expected to augment the demand during the forecast period. The region of Asia Pacific is expected to experience surge of demand too, owing to reasons such increased awareness levels among the end users and improving healthcare infrastructure.
Companies Mentioned in the Research Report
Pfizer, Novo Nordisk, Abbott Laboratories, Novartis, Bayer Healthcare, Merck Serono, Eli Lilly, Roche, Mylan Laboratories, and Genentech.
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