Hormone Replacement Therapy Market Key Players and Forecast by 2031

Historic Data: 2021-2022   |   Base Year: 2023   |   Forecast Period: 2024-2031

Hormone Replacement Therapy Market Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Therapy (Estrogen Hormone Replacement, Growth Hormone Replacement, Thyroid Hormone Replacement, Testosterone Replacement, and Others), Application [Menopause, Growth Hormone (GH) Deficiency, Hypothyroidism, Hypogonadism, and Others], Rout of Administration (Oral, Parenteral, and Others), End User (Hospitals, Specialty Clinics, and Others), and Geography (North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa)

  • Report Date : Aug 2025
  • Report Code : TIPRE00003836
  • Category : Life Sciences
  • Status : Data Released
  • Available Report Formats : pdf-format excel-format
  • No. of Pages : 150

The hormone replacement therapy market forecast can help stakeholders in this marketplace outline their growth strategies. The market is projected to grow from US$ 8.46 billion in 2023 to US$ 14.82 billion by 2031; it is estimated to record a CAGR of 7.3% during 2023–2031.

Global demand for hormone replacement therapy (HRT) is rising steadily due to factors such as the increasing prevalence of hormonal disorders, growing awareness of hormone deficiencies, and improvements in HRT formulations. Owing to its apparent safety and effectiveness benefits, bioidentical hormone replacement therapy (BHRT) is becoming more popular than synthetic hormones. Because it comes from natural sources, BHRT is thought to resemble the hormones that the body naturally produces more closely.

Pharmaceutical companies are investing in the development of novel hormone therapy formulations, including transdermal patches, gels, creams, and subcutaneous implants, to improve patient convenience, compliance, and safety profiles. This factor propels the hormone replacement therapy market growth. In August 2023, the Food and Drug Administration (FDA) approved ANI Pharmaceuticals' abbreviated new drug application for 0.1% estradiol gel. The reference-listed medication Divigel is an estrogen hormone therapy used for treating moderate to severe vasomotor symptoms associated with menopause. The generic form of Divigel is estradiol gel, 0.1%.

Growth Drivers:

Wide Range of Applications Drives Hormone Replacement Therapy Market Growth

Hormone replacement therapy is prescribed to treat menopause symptoms, growth hormone deficiency, etc. which can have a profound impact on one's life. Millions of women use HRT, sometimes for long periods. HRT can prevent osteoporosis and improve quality of life in a number of ways. According to Oregon Health & Science University, a growth hormone deficiency (GHD) is not common and it affects roughly 50,000 adults in the US and approximately one in 4,000 to 6,000 children. Thus, an increasing use of the therapy coupled with the growing prevalence of various hormonal disorders drives the hormone replacement therapy treatment market growth.

Restraint:

High Cost of Medications Hinders Growth of Hormone Replacement Therapy Market

The cost of HRT products is relatively high. For instance, the price of oral hormone replacement therapy prescriptions ranges from US$ 130 to US$ 240 per month (i.e., US$ 1,560–US$ 2,440 annually), according to The Menopause Center. The high cost prohibits the regular use of these products, which restrains the growth of the hormone replacement therapy market.

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Hormone Replacement Therapy Market: Strategic Insights

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Report Segmentation and Scope:

The hormone replacement therapy market analysis has been carried out by considering the following segments: therapy, application, route of administration, and end user.

By therapy, the hormone replacement therapy market is segmented into estrogen hormone replacement, growth hormone replacement, thyroid hormone replacement, testosterone replacement, and others. The estrogen hormone replacement segment held the largest market share in 2023.

The hormone replacement therapy market, by application, is categorized into menopause, growth hormone (GH) deficiency, hypothyroidism, hypogonadism, and others. The menopause segment held the largest hormone replacement therapy market share in 2023 and is anticipated to register the highest CAGR during the forecast period.

Regional Analysis:

In terms of region, the scope of the hormone replacement therapy market report includes North America, Europe, Asia Pacific, South & Central America, and the Middle East & Africa. In 2023, North America held the largest market share. The growing adoption of the latest technologies, rising prevalence of hormonal disorders, early adoption of new products, and presence of key market players contribute to the upsurging hormone replacement therapy market size in North America. In June 2023, NGENLA (somatrogon-ghla), a once-weekly human growth hormone analog, was approved by the US Food and Drug Administration (FDA) for use in treating pediatric patients aged three years and above who have growth failure caused by insufficient secretion of endogenous growth hormone, according to a statement released by Pfizer Inc. and OPKO Health Inc.

Furthermore, an increase in focus on providing access to quality personalized care and strengthening the healthcare solution would create significant opportunities for the hormone replacement therapy market during the forecast period. In May 2023, one of the biggest networks of hormone replacement clinics in Texas, Hormones by Design, was acquired by Forum Health, LLC, the first national network of integrative and functional medicine providers.

Hormone Replacement Therapy Market Regional Insights

The regional trends and factors influencing the Hormone Replacement Therapy Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Hormone Replacement Therapy Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

hormone-replacement-therapy-hrt-market-global-geography
  • Get the Regional Specific Data for Hormone Replacement Therapy Market

Hormone Replacement Therapy Market Report Scope

Report Attribute Details
Market size in 2023 US$ XX Million
Market Size by 2031 US$ XX Million
Global CAGR (2023 - 2031) XX%
Historical Data 2021-2022
Forecast period 2024-2031
Segments Covered By Product
  • Estrogen Replacement Therapy
  • Human Growth Hormone Replacement Therapy
  • Thyroid Replacement Therapy
  • Testosterone Replacement Therapy
  • Other Hormone Replacement Therapy
By Route Of Administration
  • Oral
  • Parenteral
  • Transdermal
By Type of Disease
  • Menopause
  • Hypothyroidism
  • Male Hypogonadism
  • Growth Hormone Deficiency
Regions and Countries Covered North America
  • US
  • Canada
  • Mexico
Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Rest of Europe
Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America
Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa
Market leaders and key company profiles
  • Pfizer Inc.
  • Abbott
  • Novo Nordisk
  • Novartis Pharmaceuticals Corporation.
  • Merck KGaA
  • Bayer AG
  • Lilly
  • Mylan N.V
  • Cyndea Pharma

  • Hormone Replacement Therapy Market Players Density: Understanding Its Impact on Business Dynamics

    The Hormone Replacement Therapy Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

    Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

    Major Companies operating in the Hormone Replacement Therapy Market are:

    1. Pfizer Inc.
    2. Abbott
    3. Novo Nordisk
    4. Novartis Pharmaceuticals Corporation.
    5. Merck KGaA

    Disclaimer: The companies listed above are not ranked in any particular order.


    hormone-replacement-therapy-hrt-market-cagr

    • Get the Hormone Replacement Therapy Market top key players overview

    Industry Developments and Future Opportunities:

    A strategic development by leading players operating in the hormone replacement therapy market, as per the company press releases, are listed below:

    • In January 2024, Ascendis Pharma A/S of Denmark and Vector Pharma FZCO (Vector) reached an exclusive distribution agreement for the commercialization of Yorvipath and Skytrofa in the Gulf Cooperation Council (GCC) nations of Saudi Arabia, the UAE, Kuwait, Oman, Qatar, and Bahrain. As per the conditions of this exclusive distribution agreement, Vector will use its sales and marketing experience to provide patients in the GCC countries with Yorvipath and Skytrofa for the treatment of adult hypoparathyroidism in the case of Yorvipath and pediatric growth hormone deficiency (GHD) in the case of Skytrofa.

    Competitive Landscape and Key Companies:

    Astrazeneca; Pfizer Inc.; Novartis AG; Abbott; Tolmar Inc; Par Pharmaceutical; Mayne Pharma Group Limited; Novo Nordisk A/S; Eli Lily and Company; and Noven Pharmaceuticals, Inc. are among the prominent companies profiled in the hormone replacement therapy market report. These companies focus on developing new technologies, upgrading existing products, and expanding their geographic presence to meet the growing consumer demand across the world.


    Frequently Asked Questions

    Which therapy segment dominates the hormone replacement therapy market?

    By therapy, the market is segmented into estrogen hormone replacement, growth hormone replacement, thyroid hormone replacement, testosterone replacement, and others. The estrogen hormone replacement segment held a larger hormone replacement therapy market share in 2023.

    What factors drive the hormone replacement therapy market?

    Increasing use of hormone replacement therapy products and increasing prevalence of hormone disorder propel the hormone replacement therapy market growth. However, high cost of medications hampers the growth of the market.

    Who are the major players in the hormone replacement therapy market?

    The hormone replacement therapy market majorly consists of the players, including Astrazeneca, Pfizer Inc., Novartis AG, Abbott, Tolmar Inc, Par Pharmaceutical, Mayne Pharma Group Limited, Novo Nordisk A/S, Eli Lily And Company, and Noven Pharmaceuticals, Inc.

    What is hormone replacement therapy?

    Medication that contains female hormones is known as hormone replacement treatment. When you go through menopause, your body stops producing estrogen, so you take medication to replace it. The most common menopausal symptoms that hormone therapy is used to treat are hot flashes and vaginal discomfort.

    Which application segment dominates the hormone replacement therapy market?

    The market, by distribution channel, is categorized into menopause, growth hormone (GH) deficiency, hypothyroidism, hypogonadism, and others. The menopause segment held the largest menopause market share in 2023, and it is anticipated to register the highest CAGR during the forecast period.

    What are the growth estimates for the hormone replacement therapy market till 2031?

    The hormone replacement therapy market is expected to be valued at US$ 14.82 billion in 2031.

    What was the estimated hormone replacement therapy market size in 2023?

    The hormone replacement therapy market was valued at US$ 8.46 billion in 2023.

    Mrinal Kerhalkar
    Mrinal Kerhalkar
    Manager,
    Market Research & Consulting

    Mrinal is a seasoned research analyst with over 8 years of experience in Life Sciences Market Intelligence and Consulting. With a strategic mindset and unwavering commitment to excellence, she has built deep expertise in pharmaceutical forecasting, market opportunity assessment, and developing industry benchmarks. Her work is anchored in delivering actionable insights that empower clients to make informed strategic decisions.

    Mrinal’s core strength lies in translating complex quantitative datasets into meaningful business intelligence. Her analytical acumen is instrumental in shaping go-to-market (GTM) strategies and uncovering growth opportunities across the pharmaceutical and medical device sectors. As a trusted consultant, she consistently focuses on streamlining workflow processes and establishing best practices, thereby driving innovation and operational efficiency for her clients.

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    The List of Companies - Hormone Replacement Therapy Market

    1. Astrazeneca
    2. Pfizer Inc.
    3. Novartis AG
    4. Abbott
    5. Tolmar Inc
    6. Par Pharmaceutical
    7. Mayne Pharma Group Limited
    8. Novo Nordisk A/S
    9. Eli Lily And Company
    10. Noven Pharmaceuticals, Inc.
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