Global Hormone Replacement Therapy Market: Overview
The medical treatment where the patients receive hormones to substitute the naturally occurring hormones with the other hormones or to add naturally occurring hormones that are absent is known as hormone replacement therapy. In the females that are at the stage of menopause, hormone replacement therapy is used to restore female hormone levels, so that the body functions normally.
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Global Hormone Replacement Therapy Market: Segmentation
The global hormone replacement therapy is fragmented into therapy type, distribution channel, and application. On the basis of the therapy type, the global market is segregated into estrogen replacement therapy, thyroid hormone replacement, and growth hormone replacement. The thyroid hormone replacement segment is further sub-segmented into tablets, injections, and capsules. The growth hormone replacement segment is sub-categorized into somatostatin analogs and dopamine agonist. On the basis of distribution channel, the market is categorized into e-commerce, retail pharmacies and drugstores, hospital pharmacies, compounding pharmacies, and others. On the basis of application, the market is divided into hypothyroidism, menopause, cancer, hypopituitarism, and others.
Global Hormone Replacement Therapy Market: Growth Factors
The key factors that are driving the hormone replacement therapy market are enlarged demand for the regenerative medicines which include reproductive-cycle boosting and anti-aging. The market is being positively impacted due to the increasing demand from other therapeutic areas which include thyroid hormone therapy and growth hormone therapy as the hormone replacement therapy is comparatively safe and efficient method and is cost effective. The other benefits that are associated with the hormone replacement therapy include minimum risk incidence of cardiovascular disease, osteoporosis, and vasomotor symptoms are also reduced thus expecting to fuel the growth of hormone replacement therapy market. The limitations of the hormone replacement therapy market include the side effects that are involved in this therapy such as fluid retention, indigestion, headache, and depression thus hindering the popularity of the therapeutic area.
Global Hormone Replacement Therapy Market: Regional Analysis
Regional diversification of the hormone replacement therapy market is given as follows Asia Pacific, Latin America, the Middle East & Africa, Western Europe, Eastern Europe, and North America. The region that is dominating the hormone replacement therapy market is North America, which is due to the fact that the U.S has the largest market owing to the popularity of the therapy among the patients that are aged 35 years and above. The factors that are contributing to the market growth in this region are increasing disposable income, early aging, and the availability of compounded drugs. In the coming years, the hormone replacement therapy market will grow speedily in Asia Pacific region owing to the increasing awareness among the people. The emerging nations such as India, Japan, and China will contribute largely to the market growth.
Global Hormone Replacement Therapy Market: Competitive Players
The key market players that are involved in the hormone replacement therapy market include Pfizer, BioSante Pharmaceuticals and Amgen, Noven Pharmaceuticals, Bayer AG, Merck & co., and QuatRx Pharmaceuticals.