Yahoo Finance 
Hormone Therapy Global Market Report 2023
Major players in the hormone therapy market are Abbott Laboratories, Bayer AG, Eli Lilly and Company, F. Hoffmann-La Roche, Merck KGaA, Mylan NV, Novartis AG, Novo Nordisk AS, Pfizer Inc., Abbvie Inc.
New York, July 04, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Hormone Therapy Global Market Report 2023" - https://www.reportlinker.com/p06457400/?utm_source=GNW
, Teva Pharmaceutical Industries Ltd., Perrigo Company Plc., Cipla Inc., Lupin Limited, Sun Pharmaceuticals Industries Ltd., Hikma Pharmaceuticals PLC., Johnsons & Johnsons Services Inc., Boehringer Ingelheim International GmbH, Sanofi, and AstraZeneca.
The global hormone therapy market is expected to grow from $17.34 billion in 2022 to $18.48 billion in 2023 at a compound annual growth rate (CAGR) of 6.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The hormone therapy market is expected to grow to $23.65 billion in 2027 at a CAGR of 6.4%.
The hormone therapy market includes revenues earned by entities by providing hormone therapies such as insulin therapy.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Hormone therapy refers to a kind of treatment that alters, suppresses, or increases certain hormones in the body. Hormone therapy is used to treat hormonal imbalances such as hypothyroidism, and others.
North America was the largest region in the hormone therapy market in 2022. The regions covered in the hormone therapy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main therapies of hormone therapy are estrogen hormone replacement, growth hormone replacement, thyroid hormone replacement, and testosterone replacement.Estrogen hormone replacement therapy refers to treatment with the hormone estrogen to boost the body’s level of estrogen.
Oral, parenteral, and other routes of administration are used in indications such as menopause, hypothyroidism, growth hormone deficiency, and others, with distribution channels such as hospital pharmacies, retail pharmacies, and online pharmacies.
A surge in the incidences of hormone imbalance disorders is significantly contributing to the growth of the hormone therapy market going forward.Hormone imbalance refers to the condition where the body produces either too much or too little of a hormone.
Various hormone imbalance disorders include hypothyroidism, hypogonadism, growth hormone deficiency, and so on.Hormone therapies such as estrogen replacement, testosterone replacement, and insulin therapy are used to treat hormone imbalance disorders.
For example, according to a 2022 report published by London Medical Laboratory, a UK-based provider of diagnostics and phlebotomy, 19% more people were expected to have significant hormone imbalances in 2022 compared to 2020. Therefore, a surge in the incidence of hormone imbalance disorders will drive the hormone therapy market.
Product innovation is the key trend gaining popularity in the hormone therapy market.Major companies operating in the hormone therapy market are focusing on launching new innovative treatments for hormone imbalance disorders and their symptoms to decrease side effects and introduce treatment for other symptoms.
Such innovations enable key players to gain a competitive edge in the market.For instance, in May 2021, Myovant Sciences, a UK-based healthcare company, and Pfizer, a US-based biotechnology company, received FDA-approval for MYFEMBREE, a new once-daily medication administered for up to 24 months to manage premenopausal women’s excessive monthly bleeding brought on by uterine fibroids.
MYFEMBREE provides clinically significant symptom alleviation for heavy menstrual bleeding in women with uterine fibroids with just one pill, taken once daily. For patients with commercial insurance, the MYFEMBREE Support Program offers services such as insurance benefit checks, prior authorization support, co-pay support, and patient assistance for eligible uninsured patients.
In September 2020, Bayer, a Germany-based pharmaceutical and biotechnology company, acquired KaNDy Therapeutics Ltd. for a deal value of $450 million. The acquisition broadens Bayer’s pipeline and has the potential, if authorized, to provide a new treatment option. KaNDy Therapeutics Ltd. is a UK-based biotechnology company that specializes in the treatment of moderate to severe post-menopausal vasomotor symptoms, allowing patients to obtain care and lessen the symptoms of hormone-related illnesses.
The countries covered in the hormone therapy market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The hormone therapy market research report is one of a series of new reports that provides hormone therapy market statistics, including hormone therapy industry global market size, regional shares, competitors with a hormone therapy market share, detailed hormone therapy market segments, market trends and opportunities, and any further data you may need to thrive in the hormone therapy industry. This hormone therapy market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06457400/?utm_source=GNW
About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
__________________________
CONTACT: Clare: clare@reportlinker.com US: (339)-368-6001 Intl: +1 339-368-6001
