Global Hormone Replacement Therapy Market to Grow by CAGR of ~8% During 2023 – 2033 on the Back of Growing Prevalence of Cancer

Global Hormone Replacement Therapy Market to Grow by CAGR of ~8% During 2023 – 2033 on the Back of Growing Prevalence of Cancer

Research Nester published a report titled “Hormone Replacement Therapy Market: Global Demand Analysis & Opportunity Outlook 2033” which delivers a detailed overview of the global hormone replacement therapy market in terms of market segmentation by replacement therapy, administration route, indication, and by region.

Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, and supply and demand risk, along with a detailed discussion of current and future market trends that are associated with the growth of the market.

The global hormone replacement therapy market is projected to grow at a CAGR of ~8% by attaining robust revenue during the forecast period, i.e., 2023 – 2033. The rising prevalence of anxiety disorder is anticipated to propel the growth of the market during the forecast period. As of 2019, nearly 4% of the population across the globe stated to be living with anxiety disorder. Additionally, spiking cases of thyroid are further estimated to propel the market growth over the forecast period. In every 100,000 people, nearly 10 women and 3 men were noticed to have thyroid.

Additionally, by administration route, the global hormone replacement therapy market is segmented into parenteral, transdermal, and oral. Out of these sub-segments, the transdermal segment is estimated to obtain the largest share in the market during the forecast period. The growth of the segment can be accounted to skyrocketing demand for transdermal drug delivery. For instance, the annual rate of transdermal patch production is projected to drop to 1 million.

Furthermore, the global hormone replacement therapy market, by region, is bifurcated into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. Out of these regions, the market in the North America region is estimated to grow at a significant pace over the forecast period on the back of the growing geriatric population and escalating cases of cancer. As per the data released by the World Bank, the number of geriatrics was estimated to reach 56,545,938 in 2021.

The research is global in nature and covers a detailed analysis of the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of the Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook, etc. have also been covered and displayed in the research report.

Rising Number of Women Going into the Period of Menopause to Foster the Growth of the Market

For instance, on account of menopause, about 50% of women in their 30s were suffering from sleep problems, 45% of them showed symptoms of skin diseases, and 30% of them were diagnosed with depression in 2020.

Menopause is a condition that every woman has to encounter in her lifetime. It is a condition that is diagnosed after 12 months of the last menstrual period. The very common age to hit menopause is stated to be the 40s or 50s. during menopause, women suffer from severe hormonal changes triggering multiple physical and mental health issues. In these circumstances, hormone replacement therapy becomes advantageous to soothe the symptoms of menopause, Therefore, such factors are anticipated to propel the growth of the market during the forecast period.

However, the possibilities of side effects of the therapy and the requirement for higher initial investment is expected to operate as a key restraint to the growth of the global hormone replacement therapy market over the forecast period.

This report also provides the existing competitive scenario of some of the key players in the global hormone replacement therapy market which includes company profiling of AbbVie Inc., Abbott Laboratories, Novo Nordisk A/S, Genentech, Inc., Novartis AG, F. Hoffmann-La Roche Ltd, Merck KGaA, Mylan N.V., Bayer AG, and Eli Lilly and Company. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials, and recent news and developments. On the whole, the report depicts a detailed overview of the global hormone replacement therapy market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching for possibilities, and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.

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