Hormone replacement therapy (HRT) is the application of hormones to replace natural hormones when the body's production is inadequate

Hormone replacement therapy (HRT) is the application of hormones to replace natural hormones when the body’s production is inadequate. For example, thyroid and human growth hormone patients may be given hormone replacement therapy. Furthermore, HRT was commonly prescribed to menopausal women to relieve symptoms such as hot flushes, night sweats, sleep disturbances, psychological & genito-urinary problems (urinary frequency and vaginal dryness), and to prevent osteoporosis. Furthermore, a survey of 2,000 American women aged 30 to 60 found that nearly 47% of those polled had symptoms of a hormonal imbalance in 2019.


Menopause is the most commonly reported consequence of aging-related hormonal changes. It starts at the age of 50 in women all over the world. Women’s estrogen and progesterone levels drop significantly after the age of 50. By increasing the output of follicle-stimulating hormone, the pituitary gland makes up for the decrease in estrogen and progesterone production.

The global hormone replacement therapy market was $24.97 billion in 2021 and is expected to reach $49.25 billion by 2030, representing a 7.839% CAGR from 2021 to 2030.

Hormone replacement therapy market overview


  • The growing cases of menopausal disease and women’s greater awareness of postmenopausal difficulties are two major factors driving the global HRT market.
  • An increase in the incidence rate of hormonal irregularities in newborns, adults, and the elderly is driving the hormone replacement therapy market trend. Furthermore, one out of every 15,000 babies is affected by a disease like Prader-Willi syndrome (PWS).


  • The adverse effects of hormone replacement therapy are expected to restrict the market growth during the forecast period.
  • The high cost and the risk of cancer due to HRTs are expected to stifle global market growth.
  • Hormone replacement therapy risks include heart disease, stroke, blood clots, and breast cancer, which are expected to limit the market growth.


The demands for bioidentical hormone replacement therapy, and the use of telemedicine for hormone replacement therapy, are expected to provide a huge opportunity for the global hormone replacement therapy market to grow in the coming years.

Segmentation analysis

Therapy type

Based on therapy type, the HRT market is divided into estrogen and progesterone replacement therapy, human growth hormone replacement therapy, thyroid replacement therapy, parathyroid hormone replacement, and testosterone replacement therapy.

In 2021, the estrogen and progesterone replacement therapy segment had the largest market share (53.15%). The increase in the number of women experiencing menopause was the major reason for this segment’s dominance. The American Congress of Obstetricians and Gynecologists said that approximately 6,000 women in the United States reach menopause each day.

Route of administration insights

The HRT market is divided into oral, parenteral, transdermal, and other routes of administration. Because of the high medication rate and ease of administration, the oral segment dominated the market in 2021. Most HRT products include pills and tablets.

During the forecast period, the parenteral segment is expected to grow rapidly. Improvements in parenteral drug delivery, such as pen-based drug delivery, are expected to improve patient satisfaction and ease of administration, driving the segment growth. Popular pen products include the Genotropin Mixer Pen, Norditropin FlexPro Pen, and Humatrope HumatroPen.

Disease type insights

The HRT market is divided into menopause, male hypogonadism, hypothyroidism, growth hormone deficiency, and hypoparathyroidism based on disease type.

In 2021, the menopause segment was the dominant segment. It is due to the increase in the number of women suffering from menopause. Every day, approximately 6,000 women reach menopause, according to the American Congress of Obstetricians and Gynecologists.

According to the UN’s 2020 global estimates, there were 958 million women aged 50 and up. This figure is expected to rise to 1.65 million by 2050. Millions of women will most likely spend more than one-third of their lives after menopause. Menopause age varies based on various natural factors such as habitat and genetics influence menopause age in individuals to some extent.

The hypoparathyroidism segment is expected to grow remarkably during the forecast period due to an increase in novel treatments and product introductions.

Regional Insights 

North America held a 37.54% share of the global hormone replacement therapy market in 2021, which will grow during the forecast period. Major product launches, manufacturer collaboration agreements, and favorable reimbursement policies are responsible for the region’s largest market share. For example, the FDA in the United States approved Sogroya (somapacitan-beco), an HGH replacement therapy product developed by Novo Nordisk A/S, in August 2020. This product is commonly administered once a week in adults with a growth hormone deficiency.

During the forecast period, Asia Pacific is expected to be the fastest-growing region. According to the Journal of the North American Menopause Society (May 2022), the incidence of vasomotor symptoms associated with menopause in women in East Asian countries ranges from 43% to 83%. As a result, the region’s demand for hormone replacement therapy is expected to rise as more women reach menopause.

Key players

  • Abbott Laboratories
  • Bayer Ag.
  • Eli Lily And Company
  • Hoffmann-La Roche Ltd.
  • Merck Kga
  • Novartis International Ag
  • Pfizer Inc.

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By Syed Khubaib Saifi

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