세계의 호르몬 대체 요법 시장 : 규모, 점유율, 동향 분석(제품별, 투여 경로별, 질환 유형별, 지역별), 부문별 예측(2025-2033년)

Hormone Replacement Therapy Market Summary

The global hormone replacement therapy market size was estimated at USD 23.58 billion in 2024 and is projected to reach USD 39.42 billion by 2033, growing at a CAGR of 5.8% from 2025 to 2033. The hormone replacement therapy industry is gaining momentum due to the rising prevalence of hormonal disorders, especially among aging populations.

Menopause-related conditions such as hot flashes, night sweats, vaginal dryness, and osteoporosis are fueling demand for effective therapies. For instance, October 2024, StatPearls Publishing reported that HRT was used to manage moderate-to-severe vasomotor symptoms, with the Postmenopausal Estrogen/Progestin Interventions trial of 875 women showing significant symptom reduction in estrogen-alone (OR, 0.42; 95% CI, 0.28-0.62) and estrogen-plus-progestin groups (OR, 0.38; 95% CI, 0.25-0.58) compared to placebo. The study clarified HRT's limited role in chronic disease prevention while highlighting its importance in symptom relief. Growing awareness of male hypogonadism, coupled with rising life expectancy, further expands market adoption.

A study by the Oxford-Royal College of General Practitioners Research and Surveillance Centre, analyzing 1.8 million medical records from 465 general practices, reported that 5,451 women on estrogen-based HRT experienced a 78% reduction in COVID-19 infection and mortality rates. Rising awareness of conditions such as menopause, hypogonadism, and growth hormone deficiency is expanding the patient base. Pharmaceutical companies are introducing innovative therapies to meet demand. For example, in January 2022, Ascendis Pharma A/S received European Commission approval for SKYTROFA, the first once-weekly treatment for pediatric growth hormone deficiency, offering improved adherence and convenience compared to daily injections.

Market growth is further supported by increasing awareness of hormone deficiencies and rare disorders. Organizations like the UK-based Child Growth Foundation provide education, guidance, and support to patients, caregivers, and healthcare providers, enhancing adoption of HRT. Despite this momentum, high treatment costs remain a barrier in certain regions. Annual injectable HRT costs range from USD 288 to USD 1,440 for insured patients and USD 480 to USD 4,800 for uninsured individuals, limiting accessibility. Nevertheless, rising patient awareness, innovative drug delivery methods, and expanded therapeutic applications are expected to sustain long-term growth in the hormone replacement therapy industry.

Global Hormone Replacement Therapy Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Grand View Research has segmented the global hormone replacement therapy market report based on product, route of administration, disease type, and region:

• Product Outlook (Revenue, USD Million, 2021 - 2033)
• Estrogen & Progesterone Replacement Therapy
• HGH Replacement Therapy
• Thyroid Hormone Replacement Therapy
• Testosterone Replacement Therapy
• Parathyroid Hormone Replacement
• Route of Administration Outlook (Revenue, USD Million, 2021 - 2033)
• Oral
• Parenteral
• Transdermal
• Others
• Disease Type Outlook (Revenue, USD Million, 2021 - 2033)
• Menopause
• Hypothyroidism
• Male Hypogonadism
• Growth Hormone Deficiency
• Hypoparathyroidism
• Regional Outlook (Revenue, USD Million, 2021 - 2033)
• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Denmark
  • Sweden
  • Norway
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • South Korea
  • Thailand
• Latin America
  • Brazil
  • Argentina
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Kuwait

Table of Contents

Chapter 1. Methodology and Scope

• 1.1. Market Segmentation & Scope
• 1.2. Segment Definitions
  • 1.2.1. Product
  • 1.2.2. Route of Administration
  • 1.2.3. Disease Type
• 1.3. Estimates and Forecast Timeline
• 1.4. Research Methodology
• 1.5. Information Procurement
  • 1.5.1. Purchased Database
  • 1.5.2. GVR's Internal Database
  • 1.5.3. Secondary Sources
  • 1.5.4. Primary Research
• 1.6. Information Analysis
  • 1.6.1. Data Analysis Models
• 1.7. Market Formulation & Data Visualization
• 1.8. Model Details
  • 1.8.1. Commodity Flow Analysis
• 1.9. List of Secondary Sources
• 1.10. Objectives

Chapter 2. Executive Summary

• 2.1. Market Snapshot
• 2.2. Segment Snapshot
• 2.3. Competitive Landscape Snapshot

Chapter 3. Hormone Replacement Therapy Market Variables, Trends, & Scope

• 3.1. Market Lineage Outlook
• 3.2. Market Dynamics
  • 3.2.1. Market Driver Analysis
  • 3.2.2. Market Restraint Analysis
• 3.3. Business Environment Analysis
  • 3.3.1. Industry Analysis - Porter's Five Forces Analysis
    • 3.3.1.1. Supplier Power
    • 3.3.1.2. Buyer Power
    • 3.3.1.3. Substitution Threat
    • 3.3.1.4. Threat of New Entrants
    • 3.3.1.5. Competitive Rivalry
  • 3.3.2. PESTLE Analysis
  • 3.3.3. Pipeline Analysis
  • 3.3.4. Patent Expiry Analysis
  • 3.3.5. Pricing Analysis

Chapter 4. Hormone Replacement Therapy Market: Product Business Analysis

• 4.1. Product Market Share, 2024 & 2033
• 4.2. Product Segment Dashboard
• 4.3. Market Size & Forecasts and Trend Analysis, by Product, 2021 to 2033 (USD Million)
• 4.4. Estrogen & Progesterone Replacement Therapy
  • 4.4.1. Estrogen & Progesterone Replacement Therapy Market, 2021 - 2033 (USD Million)
• 4.5. HGH Replacement Therapy
  • 4.5.1. HGH Replacement Therapy Market, 2021 - 2033 (USD Million)
• 4.6. Thyroid Hormone Replacement Therapy
  • 4.6.1. Thyroid Hormone Replacement Therapy Market, 2021 - 2033 (USD Million)
• 4.7. Testosterone Replacement Therapy
  • 4.7.1. Testosterone Replacement Therapy Market, 2021 - 2033 (USD Million)
• 4.8. Parathyroid Hormone Replacement
  • 4.8.1. Parathyroid Hormone Replacement Market, 2021 - 2033 (USD Million)

Chapter 5. Hormone Replacement Therapy Market: Route of Administration Business Analysis

• 5.1. Route of Administration Market Share, 2024 & 2033
• 5.2. Route of Administration Segment Dashboard
• 5.3. Market Size & Forecasts and Trend Analysis, by Route of administration, 2021 to 2033 (USD Million)
• 5.4. Oral
  • 5.4.1. Oral Market, 2021 - 2033 (USD Million)
• 5.5. Parenteral
  • 5.5.1. Parenteral Market, 2021 - 2033 (USD Million)
• 5.6. Transdermal
  • 5.6.1. Transdermal Market, 2021 - 2033 (USD Million)
• 5.7. Others
  • 5.7.1. Others Market, 2021 - 2033 (USD Million)

Chapter 6. Hormone Replacement Therapy Market: Disease Type Business Analysis

• 6.1. Disease Type Market Share, 2024 & 2033
• 6.2. Disease Type Segment Dashboard
• 6.3. Market Size & Forecasts and Trend Analysis, by Disease type, 2021 to 2033 (USD Million)
• 6.4. Menopause
  • 6.4.1. Menopause Market, 2021 - 2033 (USD Million)
• 6.5. Hypothyroidism
  • 6.5.1. Hypothyroidism Market, 2021 - 2033 (USD Million)
• 6.6. Male Hypogonadism
  • 6.6.1. Male Hypogonadism Market, 2021 - 2033 (USD Million)
• 6.7. Growth Hormone Deficiency
  • 6.7.1. Growth Hormone Deficiency Market, 2021 - 2033 (USD Million)
• 6.8. Hypoparathyroidism
  • 6.8.1. Hypoparathyroidism Market, 2021 - 2033 (USD Million)

Chapter 7. Hormone Replacement Therapy Market: Regional Estimates & Trend Analysis

• 7.1. Regional Market Share Analysis, 2024 & 2033
• 7.2. Regional Market Dashboard
• 7.3. Market Size & Forecasts Trend Analysis, 2021 to 2033:
• 7.4. North America
  • 7.4.1. North America Hormone Replacement Therapy Market Estimates and Forecasts, By Country, 2021 - 2033 (USD Million)
  • 7.4.2. U.S.
    • 7.4.2.1. Key Country Dynamics
    • 7.4.2.2. Target Disease Prevalence
    • 7.4.2.3. Regulatory Framework
    • 7.4.2.4. Reimbursement Framework
    • 7.4.2.5. U.S. Hormone Replacement Therapy Market Estimates and Forecasts, 2021 - 2033 (USD Million)
  • 7.4.3. Canada
    • 7.4.3.1. Key Country Dynamics
    • 7.4.3.2. Target Disease Prevalence
    • 7.4.3.3. Regulatory Framework
    • 7.4.3.4. Reimbursement Framework
    • 7.4.3.5. Canada Hormone Replacement Therapy Market Estimates and Forecasts, 2021 - 2033 (USD Million)
  • 7.4.4. Mexico
    • 7.4.4.1. Key Country Dynamics
    • 7.4.4.2. Target Disease Prevalence
    • 7.4.4.3. Regulatory Framework
    • 7.4.4.4. Reimbursement Framework
    • 7.4.4.5. Mexico Hormone Replacement Therapy Market Estimates and Forecasts, 2021 - 2033 (USD Million)
• 7.5. Europe
  • 7.5.1. Europe Hormone Replacement Therapy Market Estimates and Forecasts, 2021 - 2033 (USD Million)
  • 7.5.2. UK
    • 7.5.2.1. Key Country Dynamics
    • 7.5.2.2. Target Disease Prevalence
    • 7.5.2.3. Regulatory Framework
    • 7.5.2.4. Reimbursement Framework
    • 7.5.2.5. UK Hormone Replacement Therapy Market Estimates and Forecasts, 2021 - 2033 (USD Million)
  • 7.5.3. Germany
    • 7.5.3.1. Key Country Dynamics
    • 7.5.3.2. Target Disease Prevalence
    • 7.5.3.3. Regulatory Framework
    • 7.5.3.4. Reimbursement Framework
    • 7.5.3.5. Germany Hormone Replacement Therapy Market Estimates and Forecasts, 2021 - 2033 (USD Million)
  • 7.5.4. France
    • 7.5.4.1. Key Country Dynamics
    • 7.5.4.2. Target Disease Prevalence
    • 7.5.4.3. Regulatory Framework
    • 7.5.4.4. Reimbursement Framework
    • 7.5.4.5. France Hormone Replacement Therapy Market Estimates and Forecasts, 2021 - 2033 (USD Million)
  • 7.5.5. Italy
    • 7.5.5.1. Key Country Dynamics
    • 7.5.5.2. Target Disease Prevalence
    • 7.5.5.3. Regulatory Framework
    • 7.5.5.4. Reimbursement Framework
    • 7.5.5.5. Italy Hormone Replacement Therapy Market Estimates and Forecasts, 2021 - 2033 (USD Million)
  • 7.5.6. Spain
    • 7.5.6.1. Key Country Dynamics
    • 7.5.6.2. Target Disease Prevalence
    • 7.5.6.3. Regulatory Framework
    • 7.5.6.4. Reimbursement Framework
    • 7.5.6.5. Spain Hormone Replacement Therapy Market Estimates and Forecasts, 2021 - 2033 (USD Million)
  • 7.5.7. Denmark
    • 7.5.7.1. Key Country Dynamics
    • 7.5.7.2. Target Disease Prevalence
    • 7.5.7.3. Regulatory Framework
    • 7.5.7.4. Reimbursement Framework
    • 7.5.7.5. Denmark Hormone Replacement Therapy Market Estimates and Forecasts, 2021 - 2033 (USD Million)
  • 7.5.8. Sweden
    • 7.5.8.1. Key Country Dynamics
    • 7.5.8.2. Target Disease Prevalence
    • 7.5.8.3. Regulatory Framework
    • 7.5.8.4. Reimbursement Framework
    • 7.5.8.5. Sweden Hormone Replacement Therapy Market Estimates and Forecasts, 2021 - 2033 (USD Million)
  • 7.5.9. Norway
    • 7.5.9.1. Key Country Dynamics
    • 7.5.9.2. Target Disease Prevalence
    • 7.5.9.3. Regulatory Framework
    • 7.5.9.4. Reimbursement Framework
    • 7.5.9.5. Norway Hormone Replacement Therapy Market Estimates and Forecasts, 2021 - 2033 (USD Million)
• 7.6. Asia Pacific
  • 7.6.1. Asia Pacific Hormone Replacement Therapy Market Estimates and Forecasts, 2021 - 2033 (USD Million)
  • 7.6.2. Japan
    • 7.6.2.1. Key Country Dynamics
    • 7.6.2.2. Target Disease Prevalence
    • 7.6.2.3. Regulatory Framework
    • 7.6.2.4. Reimbursement Framework
    • 7.6.2.5. Japan Hormone Replacement Therapy Market Estimates and Forecasts, 2021 - 2033 (USD Million)
  • 7.6.3. China
    • 7.6.3.1. Key Country Dynamics
    • 7.6.3.2. Target Disease Prevalence
    • 7.6.3.3. Regulatory Framework
    • 7.6.3.4. Reimbursement Framework
    • 7.6.3.5. China Hormone Replacement Therapy Market Estimates and Forecasts, 2021 - 2033 (USD Million)
  • 7.6.4. India
    • 7.6.4.1. Key Country Dynamics
    • 7.6.4.2. Target Disease Prevalence
    • 7.6.4.3. Regulatory Framework
    • 7.6.4.4. Reimbursement Framework
    • 7.6.4.5. India Hormone Replacement Therapy Market Estimates and Forecasts, 2021 - 2033 (USD Million)
  • 7.6.5. Australia
    • 7.6.5.1. Key Country Dynamics
    • 7.6.5.2. Target Disease Prevalence
    • 7.6.5.3. Regulatory Framework
    • 7.6.5.4. Reimbursement Framework
    • 7.6.5.5. Australia Hormone Replacement Therapy Market Estimates and Forecasts, 2021 - 2033 (USD Million)
  • 7.6.6. South Korea
    • 7.6.6.1. Key Country Dynamics
    • 7.6.6.2. Target Disease Prevalence
    • 7.6.6.3. Regulatory Framework
    • 7.6.6.4. Reimbursement Framework
    • 7.6.6.5. South Korea Hormone Replacement Therapy Market Estimates and Forecasts, 2021 - 2033 (USD Million)
  • 7.6.7. Thailand
    • 7.6.7.1. Key Country Dynamics
    • 7.6.7.2. Target Disease Prevalence
    • 7.6.7.3. Regulatory Framework
    • 7.6.7.4. Reimbursement Framework
    • 7.6.7.5. Thailand Hormone Replacement Therapy Market Estimates and Forecasts, 2021 - 2033 (USD Million)
• 7.7. Latin America
  • 7.7.1. Latin America Hormone Replacement Therapy Market Estimates and Forecasts, 2021 - 2033 (USD Million)
  • 7.7.2. Brazil
    • 7.7.2.1. Key Country Dynamics
    • 7.7.2.2. Target Disease Prevalence
    • 7.7.2.3. Regulatory Framework
    • 7.7.2.4. Reimbursement Framework
    • 7.7.2.5. Brazil Hormone Replacement Therapy Market Estimates and Forecasts, 2021 - 2033 (USD Million)
  • 7.7.3. Argentina
    • 7.7.3.1. Key Country Dynamics
    • 7.7.3.2. Target Disease Prevalence
    • 7.7.3.3. Regulatory Framework
    • 7.7.3.4. Reimbursement Framework
    • 7.7.3.5. Argentina Hormone Replacement Therapy Market Estimates and Forecasts, 2021 - 2033 (USD Million)
• 7.8. Middle East and Africa
  • 7.8.1. Middle East and Africa Hormone Replacement Therapy Market Estimates and Forecasts, 2021 - 2033 (USD Million)
  • 7.8.2. South Africa
    • 7.8.2.1. Key Country Dynamics
    • 7.8.2.2. Target Disease Prevalence
    • 7.8.2.3. Regulatory Framework
    • 7.8.2.4. Reimbursement Framework
    • 7.8.2.5. South Africa Hormone Replacement Therapy Market Estimates and Forecasts, 2021 - 2033 (USD Million)
  • 7.8.3. Saudi Arabia
    • 7.8.3.1. Key Country Dynamics
    • 7.8.3.2. Target Disease Prevalence
    • 7.8.3.3. Regulatory Framework
    • 7.8.3.4. Reimbursement Framework
    • 7.8.3.5. Saudi Arabia Hormone Replacement Therapy Market Estimates and Forecasts, 2021 - 2033 (USD Million)
  • 7.8.4. UAE
    • 7.8.4.1. Key Country Dynamics
    • 7.8.4.2. Target Disease Prevalence
    • 7.8.4.3. Regulatory Framework
    • 7.8.4.4. Reimbursement Framework
    • 7.8.4.5. UAE Hormone Replacement Therapy Market Estimates and Forecasts, 2021 - 2033 (USD Million)
  • 7.8.5. Kuwait
    • 7.8.5.1. Key Country Dynamics
    • 7.8.5.2. Target Disease Prevalence
    • 7.8.5.3. Regulatory Framework
    • 7.8.5.4. Reimbursement Framework
    • 7.8.5.5. Kuwait Hormone Replacement Therapy Market Estimates and Forecasts, 2021 - 2033 (USD Million)

Chapter 8. Competitive Landscape

• 8.1. Participant Overview
• 8.2. Company Market Position Analysis
• 8.3. Company Categorization
• 8.4. Strategy Mapping
• 8.5. Company Profiles/Listing
  • 8.5.1. Eli Lilly and Company
    • 8.5.1.1. Overview
    • 8.5.1.2. Financial Performance
    • 8.5.1.3. Product Benchmarking
    • 8.5.1.4. Strategic Initiatives
  • 8.5.2. Bayer AG
    • 8.5.2.1. Overview
    • 8.5.2.2. Financial Performance
    • 8.5.2.3. Product Benchmarking
    • 8.5.2.4. Strategic Initiatives
  • 8.5.3. Noven Pharmaceuticals, Inc.
    • 8.5.3.1. Overview
    • 8.5.3.2. Financial Performance
    • 8.5.3.3. Product Benchmarking
    • 8.5.3.4. Strategic Initiatives
  • 8.5.4. Pfizer Inc.
    • 8.5.4.1. Overview
    • 8.5.4.2. Financial Performance
    • 8.5.4.3. Product Benchmarking
    • 8.5.4.4. Strategic Initiatives
  • 8.5.5. Merck & Co., Inc.
    • 8.5.5.1. Overview
    • 8.5.5.2. Financial Performance
    • 8.5.5.3. Product Benchmarking
    • 8.5.5.4. Strategic Initiatives
  • 8.5.6. Viatris, Inc.
    • 8.5.6.1. Overview
    • 8.5.6.2. Financial Performance
    • 8.5.6.3. Product Benchmarking
    • 8.5.6.4. Strategic Initiatives
  • 8.5.7. Novo Nordisk A/S
    • 8.5.7.1. Overview
    • 8.5.7.2. Financial Performance
    • 8.5.7.3. Product Benchmarking
    • 8.5.7.4. Strategic Initiatives
  • 8.5.8. F. Hoffmann-La Roche Ltd.
    • 8.5.8.1. Overview
    • 8.5.8.2. Financial Performance
    • 8.5.8.3. Product Benchmarking
    • 8.5.8.4. Strategic Initiatives
  • 8.5.9. ASCEND Therapeutics US, LLC.
    • 8.5.9.1. Overview
    • 8.5.9.2. Financial Performance
    • 8.5.9.3. Product Benchmarking
    • 8.5.9.4. Strategic Initiatives
  • 8.5.10. AbbVie, Inc.
    • 8.5.10.1. Overview
    • 8.5.10.2. Financial Performance
    • 8.5.10.3. Product Benchmarking
    • 8.5.10.4. Strategic Initiatives