New
mergers and acquisitions is one of the major factor driving the
growth of the hormone replacement therapy market. For instance, in
2014, Pfizer Inc., a U.S.-based pharmaceutical company, merged with
OPKO Health Inc., a U.S.-based company, to develop a long acting
growth hormone (hGH-CTP) and innovative treatments for growth hormone
deficient patients. hGH-CTP is more convenient, as the patients need
to take just one injection in a week rather than daily doses. hGH-CTP
has an orphan drug designation in the U.S. and Europe for adults and
children with growth hormone deficiency.
Robust
pipeline is also expected to support growth of the hormone
replacement therapy market size. For instance, Somapacitan sponsored
by Novo Nordisk A/S, a Denmark-based company, completed phase 3
clinical trials in 2017. This drug is used for the treatment of
growth hormone deficiency in adults.
The
global hormone replacement therapy market size was valued at US$
10.58 billion in 2017 and is expected to witness a CAGR of 5.2% over
the forecast period (2018 – 2026).
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Increasing
prevalence of various chronic conditions are expected to drive growth
of the hormone replacement therapy market
Increasing
prevalence of hypogonadism in adult men worldwide is expected to
drive growth of the hormone replacement therapy market. According to
the European Association of Urology: 2016 report, in middle-aged men,
the incidence of hypogonadism varies from 2.1% to 12.8%. The
incidence of low testosterone and symptoms of hypogonadism in men
aged 40-79 varies form 2.1% to 5.7%, in Europe. Ease in access and
government support for research and development activities is
expected to aid in growth of the hormone replacement therapy market.
Financial help by NGOs such as the National Gaucher Society help
patients receive enzyme replacement therapy that are costly.
Hormone
Replacement Therapy Market - Regional Insights
On
the basis of region, the global hormone replacement therapy market is
segmented into North America, Latin America, Europe, Asia Pacific,
Middle East, and Africa. North America is expected to hold dominant
position in the global hormone replacement therapy market, owing to
continuous launch of various generic products for hormone replacement
therapies by manufacturers. Furthermore, Europe is expected to be the
second largest contributor to the hormone replacement therapy market,
in terms of revenue and is expected to gain significant traction in
the near future. This is owing to launch of new drugs and therapies
to combat secondary hyperparathyroidism and presence of significant
population suffering from the disease in this region. For instance,
in December 2016, Amgen’s drug etecalcetide (Parsabiv) received
marketing approval in Europe by the European Commission for the
treatment of secondary hyperparathyroidism in adult patients with
chronic kidney diseases.
Hormone
Replacement Therapy Market - Competitive Landscape
Manufacturers
are focusing on developing generic versions of various drugs for the
treatment of certain disorders that are highly prevalent in women
such as hypothyroidism. For instance, Teva Pharmaceutical Industries
Ltd. launched generic version of Vagifem (estradiol vaginal inserts),
10 mcg in the U.S. on 24, July 2017. Estradiol vaginal inserts are an
estrogen indicated for the treatment of atrophic vaginitis due to
menopause.
Key
players operating in the global hormone replacement therapy market
include Novartis AG, Abbott Laboratories, Mylan N.V., Merck KgaA,
Bayer AG, Pfizer Inc., Novo Nordisk A/S, QuatRx Pharmaceuticals, Teva
Pharmaceutical Industries Ltd., Amgen, Inc., and Eli Lilly and
Company.
Detailed
Segmentation:
Global
Hormone Replacement Therapy Market, By Therapy Type:
-
Estrogen Replacement Therapy
-
Human Growth Hormone (HGH) Replacement Therapy
-
Thyroid Replacement Therapy
-
Testosterone Replacement Therapy
Global
Hormone Replacement Therapy Market, By Route of Administration:
-
Oral
-
Parenteral
-
Others
Global
Hormone Replacement Therapy Market, By Application:
-
Hypothyroidism
-
Male Hypogonadism
-
Growth Hormone Deficiency
-
Menopause
-
Others
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