The “Global Hormone Replacement Therapy Market – Industry Size, Share, Trends, Competition, Opportunity and Forecast, 2018-2028” report by TechSci Research offers valuable insights into the anticipated growth of the global hormone replacement therapy market. The report projects a high Compound Annual Growth Rate (CAGR) during the forecast period, attributing this growth to the developing economies of various countries and the increase in healthcare expenditures worldwide.
Driving Factors for High CAGR
The driving forces behind the projected high CAGR in the global hormone replacement therapy market are twofold: the growing economies of numerous countries and the substantial rise in healthcare expenditures across the globe. These factors collectively contribute to the market’s promising growth prospects.
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Parathyroid Hormone and Osteoporosis Treatment
Parathyroid hormone (PTH) plays a pivotal role in regulating calcium and phosphate levels in the body. Notably, it has emerged as a promising treatment for osteoporosis, a prevalent ailment among the geriatric population worldwide. Incorporating parathyroid hormones into hormone replacement therapy is a recent development that has yielded positive outcomes in terms of enhancing bone density and mitigating fracture risks.
Prevalence of Osteoporosis and Global Impact
The report underscores the significance of osteoporosis, particularly in leading regions like the United States, Asia, and Europe. The United States alone witnesses over 10 million cases of osteoporosis and an additional 44 million individuals with low bone density, predisposing them to the condition. Similarly, in Europe, around 22 million women and 5.5 million men over 50 suffer from osteoporosis. The increasing prevalence of bone-related disorders has led to a rising demand for parathyroid hormone therapies, thereby propelling the growth of the global hormone replacement therapy market.
Technological Advancements and Improved Therapy
Advancements in technology have paved the way for innovative delivery methods in hormone replacement therapy, including transdermal patches, gels, and creams. These methods enhance accessibility and convenience for patients, fostering the market’s expansion. The growth of the hormone replacement therapy market is also attributed to the increasing demand for novel drugs and products that offer enhanced safety and efficacy.
Role in Cancer Management and Economic Development
The report highlights hormone replacement therapy’s emerging role in cancer management, particularly for breast and prostate cancer. This therapy curtails testosterone levels in the body, thereby impeding the growth of prostate cancer cells. Furthermore, the economic development of various countries, coupled with increased healthcare expenditures by individuals seeking reliable therapeutic methods, fuels the growth of the global hormone replacement therapy market.
Challenges and Impediments to Growth
Despite the promising trajectory, challenges include potential adverse effects of hormone replacement therapies and a shortage of premium therapeutic products due to weak pipelines, which could potentially hinder market growth..
Some of the major companies operating in the global hormone replacement therapy market include:
- Bayer AG
- Pfizer Inc.
- Merck & Co., Inc.
- Viatris Inc.
- Novo Nordisk A/S
- Eli Lilly and Company
- F. Hoffmann-La Roche Ltd. (Genentech)
- Hisamitsu Pharmaceutical Co., Inc. (Noven Pharmaceuticals, Inc.)
- ASCEND Therapeutics US, LLC. (Besins Healthcare)
- AbbVie Inc.
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“Certain regions are expected to dominate the demand for hormone replacement therapy in the world. Improvement in quality of various therapeutic products due to the availability of multiple companies in the market which are manufacturing hormone replacement therapy products are expected to register an impressive growth to global hormone replacement therapy market in the forecast period,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based Global management consulting firm.
“Hormone Replacement Therapy Market – Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2018-2028 Segmented By Product (Estrogen & Progesterone Replacement Therapy, HGH Replacement Therapy, Thyroid Hormone Replacement Therapy, Testosterone Replacement Therapy, and Parathyroid Hormone Replacement), By Route of Administration (Oral, Parenteral, Transdermal, and Others), By Disease Type (Menopause, Hypothyroidism, Male hypogonadism, Growth hormone deficiency, and Hypoparathyroidism), By Region and Competition”, has evaluated the future growth potential of global hormone replacement therapy market and provides statistics & information on market size, structure, and future market growth. The report intends to provide innovative market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global hormone replacement therapy market.
Explore the sample report to gain insights into the global hormone replacement therapy market, including:
- High Anticipated CAGR: Understand the projected Compound Annual Growth Rate (CAGR) during the forecast period, driven by developing economies and increased healthcare expenditures worldwide.
- Role of Parathyroid Hormone: Learn about the pivotal role of parathyroid hormone (PTH) in regulating calcium and phosphate levels and its emergence as a treatment for osteoporosis.
- Prevalence of Osteoporosis: Discover the prevalence of osteoporosis and its impact on regions like the United States, Asia, and Europe, contributing to the demand for parathyroid hormone therapies.
- Technological Advancements: Explore how technological advancements have led to innovative delivery methods, such as transdermal patches and gels, making hormone replacement therapy more accessible and convenient for patients.
- Novel Drugs and Products: Learn about the increasing demand for novel drugs and products offering improved safety and efficacy, driving growth in the hormone replacement therapy market.
- Cancer Management: Understand the emerging role of hormone replacement therapy in managing cancer, particularly breast and prostate cancer, and how it affects the growth of the market.
- Economic Development and Healthcare Expenditure: Discover how economic development in various countries, coupled with increased healthcare expenditures for reliable therapeutic methods, fuels the growth of the global hormone replacement therapy market.
- Challenges and Impediments: Explore potential challenges, including adverse effects of therapies and a shortage of premium therapeutic products due to weak pipelines, that could hinder market growth.
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