Los Angeles, December 10, 2019 – QY Research has lately come up with a new report titled, ““Global Hormone Replacement Therapy Market Report, History and Forecast 2014-2025,” for the projected period of 6-years, i.e. between 2019 and 2025. The reports states that the global Hormone Replacement Therapy market was valued at US$ 15.7 Bn in 2018 and is expected to reach US$ 17.4 Bn by 2025 end. The global market is anticipated to register a sluggish CAGR of 1.5% from 2019 to 2025.
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Factors Hampering the Growth of the Global Hormone Replacement Therapy Market
Medical Condition and healthcare: Lack of awareness amongst patients regarding hormone deficiencies and imbalances resulting in serious conditions such as menopause and hypothyroidism is expected to hamper the growth of the market.
Drugs and Pharmaceuticals: Lack of drug delivery systems particularly in developing economies and high cost of therapies and potential side effects are anticipated to restrain the growth of the market.
Risk of Cancer and Heart Disease: Uncertainty among doctors for prescribing Hormone Replacement Therapy due to the risk of heart disease and breast cancers is likely to obstruct the growth of the market.
Availability of Alternate Options – A Significant Factor Obstructing Growth
The type segment is further sub-segmented into growth hormone, Estrogen Hormone, Testosterone Hormone, and thyroid hormone. Based on the application the segment is bifurcated into hypothyroidism, menopause, male hypogonadism, growth hormone deficiency, and others.
Due to premature birth resulting in underdevelopment in infants, treatments for growth hormone deficiency has witnessed a considerable demand over the years. Increasing awareness among women regarding menopause is likely to boost the growth of the application segment. However, the availability of alternative options in the market along with the presence of various brands and generic drugs are likely to impede the growth of the market.
Prevalence of Hormone Related Diseases – Likely to foster Regional Market
The global market is bifurcated into Asia-Pacific, Europe, North America, Central America, Middle-east, and Africa. Asia-Pacific is likely to hold a considerable share of the market due to the presence of a huge population and increase the prevalence of conditions such as hypothyroidism, menopause, hypogonadism, and hormone deficiency.
Innovation and Product Development – A Major Emphasis of Key Players
Some of the top players operating in the market are Pfizer, Eli Lilly, Novo Nordisk, AbbVie, Merck, Bayer, KGaA, Mylan, Novartis, Teva, Abbott, Roche, Ipsen, Endo International, TherapeuticsMD, and ANI Pharmaceuticals. Top players of the market are inclined to incorporate advanced technology and to collaborate for offering innovative products.
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