The global hormone replacement therapy market is expected to grow at a lucrative rate throughout the forecast period owing to increasing corporate and government funding in research and development, increasing female population in the menopausal phase, increasing patient awareness towards healthcare and personal care, advancement in medical facilities, rising global geriatric population, increasing prevalence of lifestyle induced diseases and introduction of new hormone therapies. Furthermore, increasing research studies in the field of hormone replacement therapy, regulatory controls over unapproved bioidentical drugs, increasing number of applications such as androgen replacement therapy, increasing market penetration rates due to higher efficacy of approved bioidentical therapies, increasing availability of progesterone, and estrogen as generic and branded pharmaceuticals are also expected to boost market growth during the forecast period.
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Increasing demand for effective and safe estrogen and use of hormone replacement therapy for anti ageing and vaginal estrogen therapy, increasing preference of physicians for hormone replacement therapy, rising health issues in postmenopausal women such as cancer, cardiovascular diseases and osteoporosis, new product approval such as transdermal drugs creams and gels which are considered safer as compared to oral drugs, and low-dose oral drugs are the factors expected to boost the market growth during the forecast period. Introduction of bio-identical hormone replacement therapy as well as approval for low dose hormone replacement therapy, increasing number of applications of hormone replacement therapy such as breast cancer, prevention of coronary artery disease, chronic kidney disease and cardiovascular diseases, increasing demand for systemic hormone therapy in the treatment of premature ovarian sufficiency spurs are also expected to drive the demand through to the 2022.
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Geographically, the hormone replacement market is divided into North America, Europe, Asia Pacific and Latin America and MEA. North America accounted for the largest market share in 2014 owing to increasing novel product development such as needle free injection devices, increasing research studies investigating hormone replacement and presence of a technologically advanced healthcare reimbursement infrastructure. Emerging economies such as India and China in the Asia Pacific are expected to be the fastest growing segments in the next seven years. This expected growth is attributed for by increasing corporate and government funding in the biotechnology and pharmaceutical industry, presence of highly skilled labors in the region, and rising per capita income of the regional population. Global hormone replacement therapy market is highly competitive owing to emergence of new entrants in the market and the presence of well established firms. The major participants in global hormone replacement therapy include Mylan Corporation, Merck & co. Depomed Inc., QuatRx Pharmaceuticals, Noven Pharmaceuticals, Amgen, BioSante Pharmaceuticals and Pfizer.
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