Hormone Replacement Therapy Market Poised to Grow at a Robust Pace...

Hormone Replacement Therapy Market Poised to Grow at a Robust Pace Due to Rising Prevalence of Menopausal Symptoms

Posted 2024-02-01 06:07:54

Hormone replacement therapy (HRT) involves using external sources of estrogen and progesterone to replace declining levels of these hormones due to menopause or estrogen level decline in late-stage puberty in women. It is prescribed to treat symptoms occurring due to hormonal changes during menopause like hot flashes, night sweats, mood swings, decreased sex drive, vaginal dryness and others. HRT products come in the form of pills, skin patches, gels or creams containing estrogen and sometimes progesterone.

The global hormone replacement therapy market is estimated to be valued at US$ 16,460.66 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 Dynamics

Rising prevalence of menopausal symptoms among aging female population and growing awareness about management of these symptoms through HRT are the key drivers fueling the market growth. According to UN population projections, the number of women aged 50-64 years is expected to rise from 275 million in 2000 to 425 million in 2030 globally. Additionally, supporting medical guidelines recommending short-term use of HRT for managing moderate to severe menopausal symptoms are further propelling the market expansion. However, risks of adverse effects including breast cancer and cardiovascular issues may hinder the market growth to some extent over the forecast period.

SWOT Analysis

Strength: Global Hormone Replacement Therapy Market Size helps relieve symptoms of menopause like hot flashes, night sweats, mood swings, etc. It is administered by healthcare professionals after carefully considering risks and benefits based on individual patient's medical history. Regular therapy can improve quality of life for women experiencing menopause symptoms.
Weakness: Hormone therapy is not recommended for all women and may increase risks of certain medical conditions like heart diseases, blood clots or breast cancer with long-term use over many years. Alternative lifestyle changes and medicines need to be explored for managing symptoms.
Opportunity: With rising life expectancy, the target patient population requiring HRT is growing globally. Advances in drug delivery methods and development of tissue-specific HRT can mitigate risks while providing relief. Telehealth consultations and online pharmacies also expand access in remote areas.
Threats: Negative publicity around potential safety issues and lawsuits discourages some women and doctors. Herbal and alternative therapies without proven efficacy or standard dosage pose threats. Stringent regulations for approval of new HRT drugs increases costs and development timelines.

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$ 16,460.66 Mn in 2023 and is expected to exhibit a CAGR of 4.7% over the forecast period 2024 to 2031.

Regional analysis related content comprises North America accounts for the largest share of the market currently due to higher healthcare awareness and affordability. Asia Pacific region is expected to grow at the fastest pace due to rising healthcare standards, life expectancy and increasing women population.

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, partnerships and expansions to increase market share.

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