Westford, USA, Sept. 12, 2022 (GLOBE NEWSWIRE) -- Growth of global hormone replacement therapy market is on the rise, as women seek to treat symptoms such as hot flashes, mood swings, and decreased fertility. While HRT has been around for decades, the recent increase in popularity can be attributed to a variety of factors, including the increasing awareness of hormone-related health conditions and the increasing availability of treatments like testosterone therapy.
HRT can be helpful in treating many conditions related to women's hormones, such as hot flashes, menopause symptoms, and low estrogen levels. As per recent data from National Health Interview Survey, 18% of American women over 40 use HRT. According to the American Society of Reproductive Medicine, HRT use has increased among postmenopausal women by 66% since 2001.
There are a variety of medications currently available in global hormone replacement therapy market. These include natural hormones like estradiol and progesterone, synthetic hormones like Climacteric HRT™ (testosterone), pre-mixed formulations like Prempro™ (etoposide, etomidate, and propranolol), the transdermal patch Igel®, and the injectable Depo-Provera™. Some patients choose to self-administer hormones by administering topical creams or gels or by taking oral tablets.
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The demand for HRT is growing due to the aging population and increasing prevalence of chronic diseases such as Alzheimer's and heart disease. SkyQuest study has shown that HRT can reduce the risk of developing these diseases by up to 50%. Additionally, HRT has been shown to improve overall sexual function and quality of life in women.
SkyQuest report on global hormone replacement therapy market provides insights on demand and supply gap, current products available in the market, top players and their market share, revenue, production capacity, and key catering regions, market dynamics, trends, opportunities, revenue pockets, pricing analysis, and consumer behavior.
Over 60 million Women are Taking HRT and the number is expanding at a CAGR of 4.3%
The total number of people opting for hormone replacement therapy has been on the rise for the last few decades. This trend has only been exacerbated by the increasing awareness of the risks and benefits of hormone replacement therapy. There are a number of factors that have contributed to this increase in the growth of hormone replacement therapy market, including an increased understanding of the role hormones play in our health, as well as an increased availability of treatments.
In 2016, approximately 44 million women globally were using hormone replacement therapy. This number has continued to grow; with an estimated more than 60 million women were using hormone replacement therapy in 2021. As of August 2022, the total number of HRT prescription in the UK has almost doubled in the last few years and reached 500,00 a month.
Among those women who are using hormone replacement therapy, most are taking estrogen and progesterone together. This combination is often prescribed to help ease associated symptoms such as hot flashes, vaginal dryness, mood swings, anxiety, and decreased sex drive.
SkyQuest has done a thorough research and prepared a report on global hormone replacement therapy market. The report provides valuable insights on consumer base, consumer behavior, preference, end-use, demography analysis, and consumers by country and region, among others.
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Looming Shortage of HRT
Global hormone replacement therapy market is witnessing a strong shortage of products, as manufacturers of the medication struggle to keep up with the increasing demand. The shortage could last for months or years, depending on how long it takes manufacturers to restart production.
The hormone replacement therapy products are used to treat conditions such as menopause, obesity, and post-menopausal symptoms. These conditions can cause a decrease in the body's estrogen and testosterone levels, which can lead to a host of problems including heart disease, stroke, osteoporosis, and memory problems.
It has also been observed that the shortage of these products in the global hormone replacement therapy market may be that manufacturers are not able to produce them profitably. If profit margins are too low, companies may not be willing to invest in new production lines or to buy existing supplies of these drugs. This could lead to shortages and higher prices for these medications. This would provide women a temporary access to HRT products.
In early 2022, the UK faced immense shortage of HRT products. In fact, some of the pharmacist said that they were left with only 10 products, whereas it was 70 products before the shortage started observing. As a result, the health ministry in the UK allowed the pharmacists, for short term, to swap HRT prescription products
The global hormone replacement therapy market facing shortage of several products, including Ovestin cream (Aspen), Oestrogel (Besins Healthcare), and Premique Low Dose (Pfizer), as well as reported shortages of fertility treatment Glycerol suppositories, Clomifene, and and Piriteze and antihistamines Piriton.
SkyQuest has published a report on global hormone replacement therapy market. It offers insights on current market situation, key players, demand and supply gap, value chain analysis, pricing analysis, market share analysis, and competitive landscape.
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Major Manufacturers in Global Hormone Replacement Therapy Market
- Eli Lilly and Company (US)
- Bayer AG (Germany)
- Noven Pharmaceuticals, Inc. (US)
- Pfizer Inc. (US)
- Merck & Co., Inc. (Germany)
- Viatris, Inc. (US)
- Novo Nordisk A/S (Denmark)
- Hoffmann-La Roche Ltd. (Switzerland)
- ASCEND Therapeutics US, LLC. (US)
- AbbVie, Inc. (US)
- Mithra Pharmaceuticals (Belgium)
- Endo International PLC (Ireland)
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