The estrogen replacement therapy (ERT) is witnessing significant rise in demand and hence growth of the market globally. This rising demand for estrogen replacement therapy is mainly attributed to increasing awareness about menopausal symptoms and its treatment opportunities. Another key factor responsible for the growth of this market is growing population of the post-menopausal women requiring ERT worldwide.
Due to change in hormonal levels in the body, women suffer from various debilitating symptoms. ERT is one of the hormone replacement therapies that includes replenishment of estrogen hormone levels in women through administration of external estrogen and/or progesterone hormones. Estrogen replacement therapy helps in treating women suffering from menopausal symptoms. It decreases the symptoms like vaginal dryness, hot flashes, disturbed sleep, night sweats, etc. ERT helps in osteoporosis prevention caused due to depletion of estrogen levels in the body. ERT comprises of natural as well as synthetic estrogen hormones. In order to enhance the menopausal treatment, it is also given in combination with progesterone hormone.
The ERT market has recorded positive growth in the recent past due to growing demand for the therapy worldwide. Due to the substantial growth in demand for ERT there has been introduction of highly safe treatment options for the patients located in different geographies of the world. For instance, development of novel drug delivery systems (NDDSs) like vaginal estrogen drugs and transdermal estrogen patches. Another form of ERT such as Low dose ERT are utilized in order to address the backdrop caused due to safety concerns raised against high-dose forms. The non-hormonal treatment have proven least effective, hence the ERT market is expected to grow at a rapid pace during the forecast period.
The key restraining factor for the ERT market could be the cost of this therapy. The monthly treatment cost for ERT varies from US$ 40 to US$ 150. Therefore, the population from developing and underdeveloped countries face the challenge of affordability for the therapy. Approved recognition of the products related to ERT in compounding pharmacies particularly from developed countries is another deterring factor. The post treatment risk of cervical cancer and coronary disease can also prove to be the restraining factors for the growth of this market.
Global ERT market can be segmented based on dosage forms, routes of administration, end-users and geography. Based on dosage forms, the ERT market can be segmented into patches, tablets, gels/creams, suppositories, implants and injections. The tablet dosage form segment dominated the global ERT market in 2015. However, due to growing safety concerns and demand for effective long-term therapy, the market for injections, gels/creams and patches is expected to witness high growth during the forecast period. Based on routes of administration, the ERT market can be classified into oral, topical, subcutaneous pellets, injections, etc. Oral route of administration has remained the most preferred option for the patients’ world over. However, novel drug delivery systems such as topical and subcutaneous products have also witnessed increased demand and acceptance in the global market in the recent past.
Geographically, North America especially the U.S. occupied the largest market share followed by other developed regions such as Western Europe and Japan. The U.S. have been the major market for ERT across the world due to high awareness levels and implausible purchasing power of the people in the country that further led to the expansion of ERT market in the country. However, the same factor of affordability has restrained the market in the developing regions of the world. Despite this, the emerging economies of the Asia Pacific region have displayed striking increase in the growth rates in the ERT market segment. Rising population, increasing disposable income, and improving health care awareness levels are some the key factors driving the Asia Pacific ERT market.
Some of the key players operating in the ERT market include AbbVie, Inc., Bayer AG, Hisamitsu Pharmaceutical Co., Inc., Novartis AG, Novo Nordisk A/S, Orion Pharma AB, Pfizer, Inc., Meda pharmaceuticals, Teva Pharmaceutical Industries Ltd. and TherapeuticsMD, Inc. among others.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.