The global hormone replacement therapy market is estimated to rise at a healthy rate from 2021 to 2031.
Hormone Replacement Therapy Market – Overview
The global hormone replacement therapy market is estimated to rise at a healthy rate from 2021 to 2031 (forecast period). The global market is growing due to an increase in the incidence of menopausal disorders, growing awareness of postmenopausal concerns among women, and the introduction of novel hormone replacement therapies.
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As per the Baystate Medical Center Women’s Health Department, the most common menopausal symptoms include hot flashes, vaginal dryness, night sweat, and weight gain. As a result, an increase in the incidence of menopause, development deficit, and other factors are likely to drive the global hormone replacement therapy market during the forecast period.
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Hormone Replacement Therapy Market – Competitive Landscape
Key players operating in the global hormone replacement therapy market are Bayer AG, Abbott Laboratories, Novartis AG, Merck KGaA, and Pfizer Inc. These players are concentrating on expanding their worldwide product offerings through acquisitions and collaborations with businesses that match their portfolios.
For example, Bayer, a global pharmaceutical and life sciences corporation based in Germany, acquired KaNDy Therapeutics Ltd., a private clinical-stage biotech based in the United Kingdom, in August 2020. Bayer will be able to broaden its medication research pipeline in the women’s healthcare area as a result of this acquisition. It will also feature a non-hormonal oral treatment alternative for women going through menopause. The company’s goal is to solve women’s unmet medical needs around the world.
Hormone Replacement Therapy Market – Trends and Opportunities
The increase in the prevalence of menopausal disorder and growing awareness about postmenopausal concerns among women are two key reasons expected to drive the growth of the global hormone replacement therapy market. Furthermore, developments in hormone replacement therapy are likely to significantly contribute to the hormone replacement therapy market growth. The emergence of bioidentical hormone replacement therapy and the adoption of telemedicine for hormone replacement therapy are projected to create lucrative opportunities for the worldwide hormone replacement therapy market in the near future.
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The COVID-19 outbreak is projected to have a substantial impact on the hormone replacement therapy market. A growing number of studies have been undertaken to determine the efficacy of hormone replacement therapy in COVID-19 infected patients. For example, according to a study published in BMC Medicine in 2020, the rate of survival in postmenopausal women afflicted with coronavirus who were on a daily dosage of exogenous estradiol for postmenopausal complaints was ahigh.
In addition, Stony Brook University launched a phase 2 clinical trial in April 2020 to assess the impact of estrogen in lowering the intensity of COVID-19 symptoms compared to standard therapy, including the administration of estradiol via a transdermal patch over seven days. As a result of such factors, hormone replacement therapy is projected to play a significant part in the development of innovative therapeutics for the effective treatment of coronavirus infection, thereby contributing to the growth of the global hormone replacement therapy market during the pandemic.
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Hormone Replacement Therapy Market – Regional Landscape
North America is expected to contribute significantly to the hormone replacement therapy market due to a rise in the target population, developments in drug delivery systems, and the emergence of new compositions. Moreover, increasing usage of hormone replacement therapy among women for both postmenopausal and menopausal treatment is expected to boost the market growth in North America.
The hormone replacement therapy market in Asia Pacific is projected to witness growth during the forecast period, owing to high understanding of hormone replacement therapy and an increasing rise in the prevalence of diabetes. Moreover, the increasing emphasis on lowering hormonal deficiencies in India, China, and Japan is expected to boost the hormone replacement therapy market in Asia Pacific.
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