Pune, India -- (SBWIRE) -- 02/02/2018 -- The report "Hormone Replacement Therapy Market by type (growth hormone replacement therapy, estrogen replacement therapy and thyroid hormone replacement therapy), by route of administration (Oral, parenteral and transdermal)", the hormone replacement therapy  market is expected to reach USD 7.23Billion by 2023 expanding at a CAGR of 2.4%. Factors driving the growth of this market include advances in the drug delivery technologies, increasing geriatric population and lifestyle changes while high cost associated with therapy, and side effects of hormone replacement are among the restraining factors affecting the growth in the market.

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Advances in drug delivery systems to be a key trend in the hormone replacement therapy market over 2017 to 2023

Currently, a majority of the companies operating in the global hormone replacement therapy market are focusing on needle free delivery of drugs, such devices are easy to use and self-administered by the patients. Moreover, the more emphasise has been given on development cost effective drug delivery methods by reducing number of visits to hospitals or clinics. The use of injections for delivery of drugs or medicine have cited several disadvantages such as risk of disease transmission, contamination of the needles and needle phobia among the patients. This in turn is likely to pave avenues in the growth of needle free drug delivery in the years to come.

Americas region to remain the largest Hormone replacement therapy market

Based on region, the hormone replacement therapy market is segmented into Americas, Europe, Asia-Pacific, and ROW. Americas was the largest hormone replacement therapy market and it is driven by high growth from the U.S. and South American countries such as Brazil. Moreover growing population, growing awareness about hormone replacement therapies in the emerging markets of Asia-Pacific is likely to augment the market size of hormone replacement therapies in the Asia-Pacific region over the next six years, as a result the demand for hormone replacement therapy is likely to surge over the next 6 years.

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Companies profiled in the report

The report profiles some of the key companies in the hormone replacement therapy marketAmgen, Genentech, Novo Nordisk, Wyeth, Bayer, MED-EL, Eli Lily, Merck & Co., Mylan Laboratories, Pfizer and others.

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