Commonly prescribed to menopausal patients, individuals with human growth hormone and thyroid imbalances, as well as males with hypogonadism, hormone replacement therapies (HRT) have had a tumultuous history within the medical industry and scientific community. Despite several ups and downs, these therapeutics are now widely popularized solutions to hormonal imbalances, specifically menopause, and constitute a global, high-revenue market. Additionally, research developments have contributed to the introduction of bio-identical hormone-based products, which provide a natural alternative to synthetic HRTs and have been surging in popularity.
Global Hormone Replacement Therapy Market and Segmentation
Already a booming industry, the global hormone replacement therapy market is expected to continue growing rapidly to reach a valuation of $46.5 billion by 2027 at a compound annual growth rate (CAGR) of 5.1% over the coming years, according to a report published by Allied Market Research. Significant rises in the incidence of hormonal disorders in newborns, adults, and elderly populations are boosting demand for HRT, including the growing prevalence of Prader-Willi syndrome (PWS) which affects one in every 15,000 newborns.
Currently, the overall hormone replacement therapy market is segmented into several categories including estrogen HRT, human growth HRT, thyroid HRT, testosterone HRT, as well as progestogen HRT. Additionally, segments can be further categorized by administration route, including oral, parenteral, and transdermal.
According to the reports, the current dominant market segment is estrogen hormone replacement therapy due to a continuously higher use of estradiol products in women during post-menopause or post-hysterectomy. Current statistics indicate that approximately 45% of women between the ages of 40 to 60 years of age report discussing the advantages and disadvantages of using HRT after menopause with their physicians. This sector is expected to display the most market growth in the upcoming years as the population of postmenopausal women grows and the menopausal window widens from 40 to 55 years.
In terms of route of administration, the oral therapeutics segment occupies the largest market share as it is most available, preferred by patients, and common.
According to region, the North American HRT market has evidenced the highest revenue growth over recent years due to launches of various generic HRT products, increases in target demographic, and innovations in drug delivery systems. Additionally, national statistics reveal a growing incidence rate of hypogonadism – caused by rising obesity and poor health – in the geriatric population which is likely to further propel market growth.
The Asia-Pacific region is expected to register the highest CAGR in terms of revenue by 2027 as a result of rising awareness about HRT, alarming surges in diabetes prevalence, and an increasing focus of healthcare professionals on hormone deficiencies in China, India, and Japan specifically.
Bioidentical Hormone Replacement Therapy
Over the same forecast period, a smaller segment of the market, bioidentical hormone replacement therapy (BHRT) is projected to reach a value of nearly $10 billion by the year 2026 growing at a CAGR of 5.26%, according to reports by Verified Market Research. The past 20 years have revealed a notable shift wherein the majority of physicians have begun to favor bioidentical hormone therapeutics over their synthetic counterparts as the former can provide minimized health risks and is often more well-tolerated. From supporting overall health to treatment menopausal symptoms, bioidentical hormones are used to treat the same conditions as HRTs and their more natural origins make them more favorable for a lot of patients.
Factors Affecting Market Growth
Several factors will positively affect the HRT market in forthcoming years, including a rising prevalence of menopausal disorder, growing awareness about post-menopausal issues among women, as well as new hormone replacement products expected to notably contribute to market growth.
On the contrary, the adverse effects associated with HRT and high costs of treatments are anticipated to hamper growth alongside the lasting effects of the COVID-19 pandemic, which caused decreases in prevalence of HRT across the globe as healthcare attention was diverted to preventing and treating the spread of the virus.
However, the introduction of bioidentical hormone replacement therapy and the wide-scale implementation of telemedicine for all kinds of HRT are significant opportunities for expansion of the global hormone replacement therapy market likely boosting its path forward in the forthcoming years.
Clinicians looking to gain a deeper understanding of the most recent research, latest strategies, and scientific updates in the bioidentical hormone replacement space are invited to attend our upcoming event Advancement in Anti-Aging Therapeutics in Clinical Practice event in September. As part of this multi-faceted, 3-day educational experience, the BHRT Symposium has been designed to provide the in-depth knowledge and equip practitioners to properly implement this emerging treatment option to relieve, and even prevent, unwanted aging symptoms.