Hormone Replacement Therapy Market, Market Analysis, Market Size, Application Analysis, Regional Outlook, Competitive Strategies and Forecasts, 2015 to 2022
Global hormone replacement therapy market is expected to grow at a lucrative rate throughout the forecast period owing to rise in woman population base that is undergoing through menopause coupled with increasing patient awareness towards menopausal hazards. Favorable government initiatives which include increasing government and corporate funding pertaining to the R&D of bioidentical drugs are expected to further promote the market demand during the forecast period. Furthermore, increasing market penetration as a consequence of higher efficacy of approved bioidentical therapies, advantages offered by estrogen and progesterone for treatment of chronic ailments, and increasing research studies in the field of hormone replacement therapy are also expected to fuel hormone replacement therapy market growth in the next seven years.
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Increasing uses of hormone replacement therapy in the treatment of anti ageing and vaginal estrogen therapy due to comparatively safe profile, efficiency, and cost effectiveness of these drugs is expected to positively reinforce market growth. Moreover, new formulations such as transdermal drugs, gels and creams that offer benefits such as increased bioavailability and ease of drug delivery are expected to boost the growth of hormone replacement therapy market during the forecast period. Furthermore, advantages associated with the hormone replacement therapy such as reduction in risk of occurrence of osteoporosis, cardiovascular disease, and reduction of vasomotor symptoms are also anticipated to impact hormone replacement therapy market growth positively in the coming years.
On the basis of geography the market is segmented into North America, Europe, Asia Pacific Latin America and MEA. In 2014, North America was the highest revenue generating regional market owing to increasing number of research studies investigating hormone replacement coupled with rise in novel product development such as needle free injections and devices which can serve pediatric population dealing with human growth hormone deficiencies. The other factors attributing to its large share include high per capita income coupled with high disposable income of the population base. Asia Pacific hormone replacement therapy market is expected to witness lucrative growth over the next seven years. Key factors attributing to its rapid growth include constant development of health care infrastructure in emerging economies such India and China. Furthermore, increasing corporate and government funding in the biotechnology and biopharmaceutical industry, rise in number of research institutes and diagnostic laboratories in the region, and presence of unmet market demand is expected to boost hormone replacement therapy market in the region.
The 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 hormone replacement therapy include Pfizer, Mylan Corporation, Amgen, QuatRx Pharmaceuticals, Merck & co., Noven Pharmaceuticals, BioSante Pharmaceuticals and Depomed Inc.
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