Overview and Scope
Hormone therapy refers to a kind of treatment that alters, suppresses, or increases certain hormones in the body. Hormone therapy is used to treat hormonal imbalances such as hypothyroidism, and others.
Sizing and Forecast
The hormone therapy market size has grown strongly in recent years. It will grow from $18.58 billion in 2023 to $19.93 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to medical advancements, women’s health revolution, increased awareness and education, clinical research and development, shifting healthcare practices..
The hormone therapy market size is expected to see strong growth in the next few years. It will grow to $26.49 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to personalized medicine approach, aging population dynamics, shift in women’s health approaches, focus on wellness and longevity, regulatory adaptations.. Major trends in the forecast period include regulatory changes and guidelines, changing lifestyles and stress, research and development, expanding awareness and education..
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Segmentation & Regional Insights
The hormone therapy market covered in this report is segmented –
1) By Therapy: Estrogen Hormone Replacement, Growth Hormone Replacement, Thyroid Hormone Replacement, Testosterone Replacement
2) By Route of Administration: Oral, Parenteral, Other Routes of Administration
3) By Indication: Menopause, Hypothyroidism, Growth Hormone Deficiency, Other Indications
4) By Distribution Channel: Hospitals Pharmacies, Retail Pharmacies And Stores, Online Pharmacies
North America was the largest region in the hormone therapy market in 2023. The regions covered in the hormone therapy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
A surge in the incidences of hormone imbalance disorders is significantly contributing to the growth of the hormone therapy market going forward. Hormone imbalance refers to the condition where the body produces either too much or too little of a hormone. Various hormone imbalance disorders include hypothyroidism, hypogonadism, growth hormone deficiency, and so on. Hormone therapies such as estrogen replacement, testosterone replacement, and insulin therapy are used to treat hormone imbalance disorders. For example, according to a 2022 report published by London Medical Laboratory, a UK-based provider of diagnostics and phlebotomy, 19% more people were expected to have significant hormone imbalances in 2022 compared to 2 years ago. Therefore, a surge in the incidence of hormone imbalance disorders will drive the hormone therapy market.
Key Industry Players
Major companies operating in the hormone therapy market are adopting a strategic partnership approach aiming to commercialize hormone therapy in North African and Middle Eastern countries. Strategic partnerships refer to a process in which companies leverage each other’s strengths and resources to achieve mutual benefits and success. For instance, in October 2023, Cosmo Pharmaceuticals N.V., an Ireland-based pharmaceutical company that manufactures hormonal drugs, announced a strategic agreement with Hikma Pharmaceuticals PLC. Hikma will get the exclusive right to register and market Winlevi in 17 Middle Eastern and North African countries from Cassiopeia, a subsidiary of Cosmo, under the terms of the deal. Cassiopea gets a USD 750,000 initial payment, as well as future regulatory and commercial milestones. Cassiopeia will be the sole provider of the product, with a price based on net sales. Hikma Pharmaceuticals PLC is a UK-based pharmaceutical company.
The hormone therapy market report table of contents includes:
1. Executive Summary
2. Hormone Therapy Market Characteristics
3. Hormone Therapy Market Trends And Strategies
4. Hormone Therapy Market – Macro Economic Scenario
5. Global Hormone Therapy Market Size and Growth
…
31. Global Hormone Therapy Market Competitive Benchmarking
32. Global Hormone Therapy Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Hormone Therapy Market
34. Hormone Therapy Market Future Outlook and Potential Analysis
35. Appendix
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