Pune, India, June 29, 2022 (GLOBE NEWSWIRE) -- The global hormone replacement therapy market size was USD 13.40 billion in 2020. The market is projected to grow from USD 14.17 billion in 2021 to USD 21.49 billion in 2028 at a CAGR of 6.1% in the 2021-2028 period. This information is provided by Fortune Business Insights, in its report titled, Hormone Replacement Therapy Market, 2021-2028."According to our expert analysts, the market is witnessing growth, owing to its development in several other hormone-associated illnesses concerned with diverse age groups that are impacting both, women as well as men.
Industry Developments:May 2021: Myovant Sciences GmbH declared that it gained sanction from the U.S. FDA for hormone therapy Myfembree as a treatment for uterine fibroid bleeding. The drug unveiled by Myovant is set to give uninterrupted competition to Abbvie with an extra dosing benefit.
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Unveiling of Radical Drug Delivery Systems with Spurred Efficiency to Drive Market Growth
Hormone replacement therapy is vital for patients with growth hormone scarcities, women experiencing menopausal conditions, elderly population having hypogonadism, and other patients. The treatment is obtainable in several forms, which involve skin and buccal patches, injectable, and tablets, and others. Attributed to the increase in implementation of these products across the world, numerous manufacturers are emphasizing on the development of the progressive drug delivery systems such as vaginal estrogen drugs as well as transdermal estrogen patches. This is expected to bolster the hormone replacement therapy market growth.
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A hormone replacement therapy is a treatment to replace the natural hormone when the body does not produce enough hormone. The hormonal replacement therapy is generally used to treat the menopause symptoms and to protect long term health. During the menopause, the female hormone level goes up and down. This can cause various symptoms, such as night sweat and vaginal dryness.
Thus, hormone replacement therapy helps to balance the level hormone among the females. In addition to this, hormone replacement therapy also helps in the prevention of cardiovascular diseases and osteoporosis after menopause in females. In addition to this, the hormone replacement therapy also reduces the chance of various diseases, including diabetes and bowel cancer. In male hormone replacement therapy, testosterone hormone is given to the man. Testosterone hormone is responsible for the development of male sex organs and producing male characteristics such as muscularity and facial hairs.
Hormone replacement therapy is generally used to balance the level of progesterone and estrogen hormone in females. Currently, the combination of drugs is used for hormone replacement therapy. The hormone replacement therapy can be given to various forms, including oral, parenteral, and transdermal. Oral intake of hormone drug is one of the most common routes of administration in the hormone replacement therapy.
Hormone therapy, including estrogen therapy and combined estrogen/progesterone therapy, has been currently approved by the Food and Drug Administration (FDA) for the treatment of osteoporosis among the females. There are many companies present in the market who are offering a variety of medicines for the hormone replacement therapy for both male and females.
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Segmentation:
Therapy Type, Indication, Route of Administration, Distribution Channel, and Region are studied for the Market
Market Segmentations:
Report Coverage:
The report offers a holistic evaluation of the hormone replacement therapy market along with present trends and forthcoming expectations to launch approximate investment profits. Moreover, a detailed examination of any forthcoming opportunities, threats, competitions or driving aspects is also conversed in the report. Step by step, methodical regional review is offered in the report.COVID-19 influences have been added to the report to aid investors and business owners to perceive an amplified knowledge of the existing threats. The key players in the market are distinguished, and their tactics to bolster the market growth are mentioned in the report.
Regional Insights:The market in North America was worth USD 7.07 billion in 2020 and held the maximum hormone replacement therapy market share. Moreover, the market is anticipated to lead the global market, owing to an increase in the occurrence of menopause and growth hormone scarcity illnesses.Europe is the second dominant region, owing to an escalation in the hormonal conditions in women experiencing menopausal symptoms, older people undergoing hypothyroidism, and increase in growth hormone ailments.Asia Pacific is projected to appear as one of the biggest suppliers of the product coupled with the highest CAGR in future.
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