Certain factors that are positively affecting the Hormone Replacement Therapy (HRT) market growth are increasing awareness on post-menopausal issues among women, rise in drug development with novel delivery systems, and hormonal imbalance disorders with rising geriatric population.
Hormonal imbalance disorders, with an increase in the geriatric population, is one of the major factors responsible for the growth of the market studied. With various kinds of hormonal changes, the female body predominantly gets affected by the natural process of aging, leading to abnormalities and diseases. Some of the common problems include weight gain, memory decline, fatigue, low libido, aging appearance, and muscle loss.
The most frequently reported consequence of age-related hormonal changes occurs in cases related to menopause. The global average onset age for menopause among women is approximately 50 years. In women, by the age of 50 years and above, the production levels of estrogen and progesterone decrease significantly. The decrease in production levels of estrogen and progesterone are compensated by the pituitary gland, with the increased production of follicle stimulating hormone (FSH). This is physically manifested in women in the form of post-menopause symptoms, which include flush.
These factors associated with age lead to the rising demand for HRT, thus driving the market studied.
Key Market Trends
Application in Menopause Indication is Expected to Growth at High CAGR over Forecast Period
Menopause is the time that marks the end of your menstrual cycles. It's diagnosed after you've gone 12 months without a menstrual period. Menopause can happen in your 40s or 50s. Menopause is a natural biological process. Hormone replacement therapy improves the quality of life and prolongs life for many elderly women, whether it is initiated at menopause or much later. The therapy helps elderly women maintain their estrogen levels.
This application is expected to rise in future as the geriatric population globally is increasing. As per a 2017 report by the United Nations, the percentage of population aged 60 years or above is expected to increase from 12.7% in 2017 to 21.3% by 2050. This change is expected to be more prevalent in developed countries. Hence, as both men and women age, the application of HRT in elderly women is expected to grow, which will help the market growth.
North America Holds the Largest Market Share
Rising geriatric population is one of the primary factors responsible for the growth of the hormonal replacement therapy market in the United States and Canada.
According to the National Institutes of Health (NIH), almost half of all the postmenopausal women in the United States reported having used HRT at least once in their life. The conjugated equine estrogens (CEE)/bazedoxifene tablet, a combination of estrogen and a selective estrogen receptor modulator, is available in the United States for menopausal VMS treatment and osteoporosis prevention.
Overall, the market for HRT in the United States is scheduled for high growth over the forecast period. The major drivers of this market are expected to increase the adoption of HRT among women, for both post-menopausal and menopause management.
The market is consolidated. Several companies with the largest market share are Abbott, Bayer AG, Merck KGaA, Novartis AG, and Pfizer Inc. However, there are efforts being made by new players to enter the hormone replacement therapy market.
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