Hormone Replacement Therapy Market Size, Share & Trend Report

Hormone Replacement Therapy Market Size, Share & Trend Analysis By Product (Estrogen & Progesterone Replacement Therapy), By Route of Administration, By Disease Type, By Region, And Segment Forecasts, 2023 - 2030

  • Report ID: 978-1-68038-784-1
  • Number of Report Pages: 123
  • Format: PDF, Horizon Databook
  • Historical Range: 2018 - 2021
  • Forecast Period: 2023 - 2030 
  • Industry: Healthcare

Research Methodology

A three-pronged approach was followed for deducing the hormone replacement therapy market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for hormone replacement therapy market to gather the most reliable and current information possible.

  • We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
  • We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
  • We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
  • We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
  • We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of hormone replacement therapy market data depending on the type of information we’re trying to uncover in our research.

  • Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

  • Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

  • Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

  • Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

  • Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

  • Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

  • This step also entails the finalization of the report scope and data representation pattern.

  • Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Hormone Replacement Therapy Market Categorization:

The hormone replacement therapy market was categorized into four segments, namely product (Estrogen & Progesterone Replacement Therapy, HGH replacement therapy, Thyroid hormone replacement therapy, Testosterone Replacement Therapy, Parathyroid Hormone Replacement), route of administration (Oral, Parenteral, Transdermal), disease type (Menopause, Hypothyroidism, Male hypogonadism, Growth hormone deficiency, Hypoparathyroidism), and regions (North America, Europe, Asia Pacific, Latin America, Middle East & Africa).

Segment Market Methodology:

The hormone replacement therapy market was segmented into product, route of administration, disease type, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

  • Demand estimation of each product across countries/regions summed up to from the total market.

  • Variable analysis for demand forecast.

  • Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

  • Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

  • Used extensively for new product forecasting or analyzing penetration levels.

  • Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

  • Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

  • This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The hormone replacement therapy market was analyzed at a regional level. The global was divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into twenty-three countries, namely, the U.S.; Canada; Germany; the UK.; France; Italy; Spain; Denmark; Sweden; Norway; China; Japan; India; Australia; South Korea; Thailand; Brazil; Mexico; Argentina; South Africa; Saudi Arabia; UAE; Kuwait.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Hormone replacement therapy market companies & financials:

The hormone replacement therapy market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

  • Bayer AG is a German pharmaceutical and chemical company. Its core businesses include human and veterinary pharmaceuticals, human healthcare products, biotechnology offerings, and agricultural chemicals. Bayer Healthcare specializes in general and specialty medicines. The company operates through four verticals – medical care, consumer care, animal health, and pharmaceuticals. The consumer care division focuses on nonprescription medicines, dietary supplements, and dermatology products. Medical care comprises blood glucose meters, diagnostic imaging agents, and mechanical systems to treat constricted vessels. The pharmaceuticals division focuses on prescription medicines used for indications such as cardiovascular diseases and infectious diseases.

  • Pfizer, Inc. is a multinational American pharmaceutical company headquartered in New York. The company is into discovery, development, and manufacturing of pharmaceutical products. Pfizer has a portfolio of vaccines and medicines. The company operates in two business segments: Essential Health and Innovative Health. The Essential Health segment contains branded generics, biosimilars, infusion systems, generic sterile injectable products, and its legacy brands. The Innovative Health segment works toward the commercialization and development of medicines & vaccines. The company has 42 manufacturing facilities and operates in over 125 countries. The manufacturing unit produces biologics, small molecules, hormones, controlled substances (III-V), potent drugs, sterile suspensions, and steroids & prostaglandins.           

  • Merck & Co., Inc. was incorporated in 1891, headquartered in Kenilworth, New Jersey. Merck provides health solutions through vaccines, biologic therapies, prescription medicine, and health products. It majorly operates in four segments: pharmaceuticals, healthcare services, animal health, and alliances. The company's pharmaceutical division includes vaccines and human health pharmaceuticals. As of 2021, the company operated in over 140 countries with offices in 51 countries.

  • Viatris, Inc. was founded in 2020 after a merger between Mylan and Pfizer, Inc. The company focuses on increasing access to inexpensive, high-quality medications for patients globally by combining the resources of its two parent companies, including the global workforce of nearly 38,000 employees. Its portfolio includes best-in-class branded generics & key global brands, including branded & complicated generics, biosimilars, and OTC products in a variety of therapeutic areas. Its geographical reach includes North America, Europe, Asia Pacific, and emerging markets.   

  • Novo Nordisk A/S develops, discovers, manufactures, and markets pharmaceutical products. It operates through two segments—biopharmaceuticals and diabetes care. The diabetes care segment covers GLP-1 simple, insulin, oral antidiabetic medications & heftiness, and other protein-related products, such as glucagon, protein-related distribution systems, and needles. Its biopharmaceuticals segment deals in products used in therapeutic areas such as hemophilia, hormone replacement therapy, growth hormone remedy, and inflammation. Novo Nordisk, through its distributors, subsidiaries, & agents, sells its products primarily in North America, India, Japan, Argentina, Brazil, China, Australia, Turkey, and other European economies.

  • Eli Lilly and Company is a U.S. headquartered pharmaceutical company that was established in 1876. The company has over 100 products in its portfolio and its product offering covers the therapy areas diabetes, cancer, immunology, pain, and neurodegeneration. The company conducts clinical trials in over 55 countries and markets its product in 120 countries.     

  • F. Hoffmann-La Roche Ltd. was incorporated in 1896 and is headquartered in Basel, Switzerland. Roche works in two business segments: Pharmaceuticals and Diagnostics. Its pharmaceuticals division focuses on immunology, hematology, hemophilia, respiratory, oncology, ophthalmology, neuroscience, and infectious diseases. Its Genentech division offers pharmaceuticals for prevention and control of thrombolysis. It also conducts research for production of biologic medicines. Roche operates 23 manufacturing sites and 29 research and development facilities globally.

  • Noven Pharmaceuticals, Inc. is a U.S. headquartered company established in 1987. The company focuses on R&D, manufacturing, marketing, and sales of prescription pharmaceutical products. Moreover, the company develops transdermal patches with an innovative approach for increasing patient acceptability. The company is a subsidiary of Hisamitsu Pharmaceutical Co., Inc., which is the largest manufacturer of transdermal patches and has geographical presence in around 50 countries.

  • ASCEND Therapeutics US, LLC is a subsidiary of Besins Healthcare, established in 1885. The company is engaged in the development of treatment solutions related to androgen deficiency, gynecologic, fertility, and obstetric conditions. Besins Healthcare is headquartered in Monaco. The company has geographical presence in over 100 countries with 18 fully owned subsidiaries. In addition, the company has four manufacturing facilities that contribute 33% of progesterone in the market globally.

  • AbbVie, Inc. is a biopharmaceutical company focusing on various therapeutic areas, such as immunology, oncology, virology, neuroscience, and general medicine. The company provides different pipeline products for UC, immune-mediated diseases, rheumatoid arthritis, Crohn's disease, uveitis, and other conditions. In addition, it has undertaken various ventures with ALECTOR, AM-Pharma, APOGEN, artios, Carisma Therapeutics, LODO Therapeutics, and PALLEON Pharmaceuticals, focusing on early-stage opportunities in oncology, immunology, & neuroscience. Its products cater to patients across 175 nations. AbbVie owns 8 primary research and 14 manufacturing facilities globally.

Value chain-based sizing & forecasting

Supply Side Estimates

  • Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

  • Segment revenue determination via variable analysis and penetration modeling.

  • Competitive benchmarking to identify market leaders and their collective revenue shares.

  • Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

  • Identifying parent markets and ancillary markets

  • Segment penetration analysis to obtain pertinent

  • revenue/volume

  • Heuristic forecasting with the help of subject matter experts

  • Forecasting via variable analysis

Hormone Replacement Therapy Market Report Objectives:

  • Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

  • Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

  • Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 to 2021, and forecast from 2022 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Hormone Replacement Therapy Market Report Assumptions:

  • The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

  • The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

  • We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

  • All market estimates and forecasts have been validated through primary interviews with the key industry participants.

  • Inflation has not been accounted for to estimate and forecast the market.

  • Numbers may not add up due to rounding off.

  • Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

  • Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

  • Latin America includes Central American countries and the South American continent

  • Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

  • Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

  • Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.

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