The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s hormone therapy market report forecasts the hormone therapy market size to grow to $23.65 Billion by 2027, with a CAGR (compound annual growth rate) of more than 6%.

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Hormone Therapy Market Size Forecast
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 global hormone therapy market size is expected to grow to $23.65 billion in 2027 at a CAGR of 6.4%.

North America held the largest hormone therapy market share.

Key Hormone Therapy Market Driver ­– Surge In The Incidences Of Hormone Imbalance Disorders
For example, a 2022 report produced by London Medical Laboratory, a UK-based provider of diagnostics and phlebotomy, predicted that 19% more patients would have major hormone abnormalities in 2022 than in 2020. As a result, an increase in the prevalence of hormone imbalance illnesses will propel the hormone therapy industry.

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Key Hormone Therapy Market Trend – Product Innovation
To reduce side effects and provide treatment for other symptoms, major players in the hormone therapy industry are focusing on releasing new creative treatments for hormone imbalance illnesses and related symptoms. Such inventions enable market leaders to obtain a competitive advantage. For example, 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 excessive monthly bleeding caused by uterine fibroids in premenopausal women. MYFEMBREE, a single pill given once daily, provides clinically substantial symptom relief for heavy menstrual bleeding in women with uterine fibroids. The MYFEMBREE Support Programme provides services including as insurance benefit checks, pre authorization support, co-pay support, and patient help for qualified uninsured patients to patients with commercial insurance.

Hormone Therapy Market Segment
1) By Therapy: Estrogen Hormone Replacement, Growth Hormone Replacement, Thyroid Hormone Replacement, Testosterone Replacement
2) By Route of Administration: Oral, Parenteral, Other Routes of Administration
3) By Indication: Menopause, Hypothyroidism, Growth Hormone Deficiency, Other Indications
4) By Distribution Channel: Hospitals Pharmacies, Retail Pharmacies And Stores, Online Pharmacies

Hormone Therapy Market Major Players and Strategies
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., 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.

Bayer, a German pharmaceutical and biotechnology business, will pay $450 million for KaNDy Therapeutics Ltd. in September 2020. The acquisition broadens Bayer’s portfolio and, if approved, has the potential to give a new therapeutic option. KaNDy Therapeutics Ltd. is a biotechnology firm established in the United Kingdom that specialises in the treatment of moderate to severe postmenopausal vasomotor symptoms, allowing patients to get care while alleviating the symptoms of hormone-related disorders.

The Hormone Therapy Global Market Report 2023 covers regional data on hormone therapy market size, hormone therapy market trends and drivers, opportunities, strategies, and hormone therapy market competitor analysis. The countries covered in the hormone therapy market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Hormone therapy is a type of treatment that modifies, suppresses, or enhances the levels of specific hormones in the body. Hormone treatment is used to address hormonal abnormalities like hypothyroidism.

View More Reports Related To The Hormone Therapy Market –
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