Towards Healthcare
Hormone Therapy Market Analysis and Revenue Trends 2025 to 2034

Hormone Therapy Market Expansion and Future Opportunities

The rising prevalence of chronic disorders and the growing demand for targeted therapy drive the market. The availability of a robust healthcare infrastructure and the need for personalized medicines contribute to North America’s dominance.

Category: Therapeutic Area Insight Code: 6258 Format: PDF / PPT / Excel

The hormone therapy market is experiencing significant expansion, with projections indicating a revenue increase reaching several hundred million dollars by the end of the forecast period, spanning 2025 to 2034. This growth is driven by emerging trends and strong demand across key sectors.

The hormone therapy market is primarily driven by the increasing prevalence of hormone-related disorders and the growing geriatric population. Government organizations launch initiatives to create awareness about screening and early diagnosis of chronic disorders. Researchers also receive funding to conduct research activities and develop novel hormone therapies. Artificial intelligence (AI) and machine learning (ML) algorithms facilitate the development of more personalized treatment. Growing research activities present future opportunities for market growth.

Key Takeaways

  • North America held a major revenue share of the market in 2024.
  • Asia-Pacific is expected to host the fastest-growing market in the coming years.
  • By therapy type, the cancer hormone therapy segment dominated the hormone therapy market in 2024.
  • By therapy type, the androgen replacement therapy segment is expected to expand rapidly in the market in the coming years.
  • By hormone source, the synthetic hormones segment led the market in 2024.
  • By hormone source, the bioidentical/natural hormones segment is expected to grow at the fastest CAGR in the market during the forecast period.
  • By route of administration, the oral segment registered its dominance over the global market in 2024.
  • By route of administration, the transdermal segment is expected to show the fastest growth in the forecast period.
  • By application/indication, the menopause & andropause management segment accounted for the highest revenue share of the hormone therapy market in 2024.
  • By application/indication, the oncology segment is expected to grow with the highest CAGR in the market during the studied years.
  • By end-user, the hospitals & specialty clinics segment held a dominant revenue share of the market in 2024.
  • By end-user, the retail & online pharmacies segment is expected to witness the fastest growth in the market over the forecast period.

What is Hormone Therapy?

The hormone therapy market is experiencing robust growth, driven by aging populations, rising prevalence of hormone-related disorders, advancements in bioidentical hormones, expanding applications in oncology, and growing awareness of gender health and wellness. It refers to the range of pharmaceutical products and treatment regimens involving natural or synthetic hormones to restore or regulate hormonal balance in patients. It includes therapies for menopause, andropause, thyroid disorders, cancer management (e.g., breast and prostate), growth hormone deficiencies, and gender-affirming care.

Hormone Therapy Market Outlook

  • Industry Growth Overview: The industry is expected to see accelerated growth, especially among cancer patients and post-menopausal women. The shifting trend towards personalized medicines enables healthcare professionals to prescribe bioidentical hormones.
  • Global Expansion: Key players collaborate to expand their geographical presence and deliver their patented medications to a large patient population. In September 2025, Hims & Hers, a telehealth company, collaborated with Marius Pharmaceuticals to expand into hormone health therapy with Kyzatrex.
  • Major Investors: Numerous venture capitalists and private equity firms provide funding to budding companies, enabling them to develop and deliver innovative hormone therapy. Apart from private firms, government organizations are at the forefront of revolutionizing hormonal health.
  • Startup Ecosystem: The startup ecosystem for hormone therapy is maturing in therapeutic and tech fields. Tech-based startups develop tools that can monitor hormonal levels in humans. OVUM, HANX, and Unfabled aim to revolutionize women’s sexual health.

How Can AI Improve the Hormone Therapy Market?

AI can transform hormone therapy by enabling healthcare professionals to predict patients who are at high risk of developing hormone-related disorders. AI-based sensors also aid in monitoring hormonal levels in humans, allowing healthcare professionals to prescribe personalized medicines. AI assists researchers in developing novel hormone therapy products tailored to patients' specific conditions. AI and ML can analyze vast amounts of patient data and predict therapeutic outcomes.

LG Chem recently developed its own AI model to predict how much a child will grow in the first year of growth hormone treatment. The model was based on four ML algorithms, such as TabNet, XGBoost, LightGBM, and CatBoost.

Trade Analysis of Hormone Therapy Market: Import & Export Statistics

  • India is the largest exporter of hormone injections globally. From September 2023 to August 2024, 25 Indian exporters supplied 226 shipments to 68 buyers, marking a growth rate of 2% compared to the previous year.
  • Germany is the second-largest importer of hormone injections with 188 shipments. 43 German exporters supplied hormone injections to 31 importers.
  • The third-largest exporter of hormonal injections is Vietnam. Vietnam exported 109 shipments from 49 suppliers to 17 buyers.
  • Ukraine is the largest importer of hormone injections in the world. It imported 390 shipments of hormone injections from 130 foreign exporters to 40 Ukrainian buyers. It imported most of its injections from France, Italy, and Belgium.
  • Russia imported 214 shipments from 17 foreign exporters to 18 Russian buyers from March 2023 to February 2024. This marks a growth rate of 756% compared to the previous year.
  • Costa Rica imported 116 shipments of hormone injections from July 2023 to June 2024 from 2 foreign exporters to 7 Costa Rica buyers. The imports were made from Colombia, Mexico, and Germany.

The Hormone Therapy Market: Clinical Trials

Region Active, Not Recruiting Recruiting
Global 460 901
United States 274 351
Canada 90 62
China 72 211
Europe 144 210

Segmental Insights

Which Therapy Type Segment Dominated the Hormone Therapy Market?

By therapy type, the cancer hormone therapy segment held a dominant presence in the market in 2024, due to the rising prevalence of cancer and the availability of established treatment protocols. Different types of cancer require different hormones for their treatment. For instance, breast cancer is treated with estrogen and progesterone, while prostate cancer is treated with androgens. Hormone therapy eliminates the access of hormones to cancer cells, combating cell growth.

By therapy type, the androgen replacement therapy segment is expected to grow at the fastest CAGR in the market during the forecast period. Androgen replacement therapy (ART) involves the use of testosterone and DHEA in men with hypogonadism and prostate cancer. ART can help reverse the effects of hypogonadism. Several studies have demonstrated the role of testosterone in improving sexual function, vitality, and energy. The availability of different formulations, such as topical gel, transdermal patch, and buccal system, enhances patient convenience.

How the Synthetic Hormones Segment Dominated the Hormone Therapy Market?

By hormone source, the synthetic hormones segment held the largest revenue share of the market in 2024, due to widespread availability and cost-effectiveness. Synthetic hormones are artificial compounds, such as synthetic estrogens and glucocorticoids, that are used as contraceptives, HRT, and anti-inflammatory therapies. They may have a similar chemical structure, but not exactly the same as natural hormones. They are found in products that claim to enhance or diminish the effects of hormones.

By hormone source, the bioidentical/natural hormones segment is expected to grow with the highest CAGR in the market during the studied years. Bioidentical hormones are derived from plants that are structurally identical to the body’s natural hormones. They are used in people who experience symptoms of low or unbalanced hormones, i.e., perimenopause or menopause. They are gaining popularity in developed markets due to perceived safety and customization. Additionally, they are safer, more effective, and provide personalized treatment.

Why Did the Oral Segment Dominate the Hormone Therapy Market?

By route of administration, the oral segment contributed the biggest revenue share of the market in 2024, due to the ease of administration and cost-effectiveness. Oral contraceptives are the most prescribed hormone therapy for females. The oral route, such as pills, tablets, and capsules, improves medication adherence. Tablets can facilitate either immediate release or sustained release, providing enhanced patient care.

By route of administration, the transdermal segment is expected to expand rapidly in the market in the coming years. The transdermal route is increasingly preferred due to reduced side effects and growing adoption among menopausal and gender-affirming care patients. It provides targeted therapy, as the hormone is directly administered into body fluids. It eliminates first-pass metabolism, reducing systemic side effects.

Which Application/Indication Segment Led the Hormone Therapy Market?

By application/indication, the menopause & andropause management segment led the market in 2024, due to the increasing number of people undergoing menopause & andropause. This is because of the growing geriatric population and sedentary lifestyles. Hormonal imbalance after menopause & andropause can cause uncomfortable physical and emotional symptoms. This necessitates healthcare professionals to provide treatment that alleviates symptoms of menopause. It is estimated that the population of menopausal and post-menopausal women is projected to rise to 1.2 million by 2030.

By application/indication, the oncology segment is expected to witness the fastest growth in the market over the forecast period. The rising prevalence of hormone-sensitive cancers augments the segment’s growth. The American Cancer Society estimated that over 2 million new cancer cases will be reported in 2025 in the U.S. The increasing demand for precision medicines enables researchers to develop innovative hormone therapies. Hormone therapy prevents cancer cells from receiving signals to proliferate.

What Made Hospitals & Specialty Clinics the Dominant Segment in the Hormone Therapy Market?

By end-user, the hospitals & specialty clinics segment accounted for the highest revenue share of the market in 2024, due to the availability of state-of-the-art infrastructure and suitable capital investment. Hospitals & specialty clinics possess skilled professionals who provide multidisciplinary expertise and personalized care to patients. They adopt advanced treatment based on patients’ conditions. They are also part of clinical trials, benefiting patients with innovative therapies before market approval.

By end-user, the retail & online pharmacies segment is expected to show the fastest growth in the forecast period. Retail & online pharmacies are easily accessible to a large patient base. Retail pharmacies offer advantages, including relevant expertise and 24/7 services. On the other hand, online pharmacies offer special discounts, free home delivery, and virtual consultations. The rapid adoption of telehealth services favors the segment’s growth.

Regional Analysis

Which Factors Contribute to the Hormone Therapy Market in North America?

North America dominated the global market in 2024. The availability of state-of-the-art healthcare infrastructure, favorable regulatory policies, and the early adoption of hormone therapies are major growth factors for the market in North America. The presence of key players and increasing collaborations among key players facilitate the development of hormone therapy. The growing adoption of advanced technologies also contributes to market growth.

U.S. Market Trends

The Food and Drug Administration (FDA) regulates the approval of hormone therapy in the U.S. Key players, such as Pfizer, Inc., Eli Lilly and Company, and AbbVie, Inc., are the major contributors to the market in the U.S. According to the American Thyroid Association, an estimated 20 million Americans have some form of thyroid disease.

Canada Market Trends

Recent studies have demonstrated that 1 in 10 Canadians suffers from thyroid issues. The Canadian government and British Columbia collaborated to make essential and preventive medications more accessible and more affordable for Canadians. The collaboration intends to implement universal, single-payer, first-dollar coverage for a range of contraception and diabetes medications.

How is Asia-Pacific Growing in the Hormone Therapy Market?

Asia-Pacific is expected to grow at the fastest CAGR in the market during the forecast period. The rising prevalence of hormone-related disorders, the growing geriatric population, and the increasing population size bolster market growth. The increasing healthcare expenditure and favorable reimbursement policies potentiate healthcare access to a wider population. Government organizations encourage patients to undergo screening and early diagnosis of hormonal disorders.

China Market Trends

A recent study found that the overall prevalence of menopausal symptoms in Chinese women aged 40-60 years was 46.3%. Insomnia (50%), fatigue (48.2%), and nervousness (46.9%) were the most common symptoms. In July 2024, Astellas Pharma, Inc. announced that the National Medical Products Administration (NMPA) approved XTANDI (enzalutamide) for the treatment of patients with metastatic hormone-sensitive prostate cancer (mHSPC).

  • Thailand: In January 2025, the Thai government announced an investment of 145 million baht (USD 4.3 million) to provide hormone therapy to transgender people. The investment was made to protect transgender people’s basic rights.
  • Australia: In February 2025, the Australian government announced $573.3 million in funding to strengthen women’s health, thereby delivering more choice at lower costs.
  • Canada: The Canadian government’s Sexual and Reproductive Health Fund has a budget of $81 million between 2021 and 2027. The funding is provided to increase access to abortion and other SRH care for underserved communities.

Value Chain Analysis – Hormone Therapy Market

R&D

The current research activities focus on developing personalized hormonal therapies, along with individualized dosing and delivery methods.

Key Players: Abbott, Hanmi Science, Eli Lilly and Company, and Besins Healthcare

Clinical Trials & Regulatory Approvals

Hormone therapy undergoes clinical trials to assess its safety and efficacy in humans. It is later approved by regulatory agencies like the FDA, NMPA, and EMA.

Key Players: Regor Pharmaceuticals, Inc., GBG Forschungs GmbH, and Novartis AG

Patient Support & Services

Patient support & services refers to providing a patient-centered approach, including medical monitoring, personalized care, and extensive education.

Top Companies & Their Offerings in the Hormone Therapy Market

  • Pfizer, Inc.: Pfizer is a leading pharmaceutical company that offers four hormonal therapy options that are approved to treat select symptoms for post-menopausal women.
  • Novartis AG: Novartis AG is a Swiss multinational pharmaceutical corporation that offers hormonal therapy, such as Pluvicto and Kisqali, for the treatment of prostate cancer and breast cancer, respectively.
  • Eli Lilly and Company: The American multinational pharmaceutical company specializes in hormone therapy for cancer patients and children who do not produce growth hormones.
  • Bayer AG: Bayer AG is a German multinational pharmaceutical and biotechnology company that offers hormone therapy for contraception, heavy menstrual bleeding, menopause, endometriosis, and acne therapy.
  • AbbVie, Inc.: The American company specializes in hormonal disorders, such as hypothyroidism, hyperparathyroidism, and women’s health conditions.

Other Companies in the Hormone Therapy Market

  • Merck KGaA
  • Novo Nordisk A/S
  • Ipsen Pharma
  • Ferring Pharmaceuticals
  • Teva Pharmaceutical Industries Ltd.
  • Mylan N.V. (Viatris Inc.)
  • Sun Pharmaceutical Industries Ltd.
  • Cipla Ltd.
  • Dr. Reddy’s Laboratories Ltd.
  • Ascendis Pharma A/S

Recent Developments in the Hormone Therapy Market

  • In September 2025, Eli Lilly and Company announced that the U.S. FDA approved Inluriyo (imlunestrant), an oral estrogen receptor antagonist, for the treatment of adults with estrogen receptor-positive (ER+), human epidermal growth factor receptor 2-negative (HER2-), and ESR-1 mutated advanced or metastatic breast cancer (MBC).
  • In April 2025, Spark Hormone Therapy announced the launch of its innovative Auto Injector Device to transform the at-home treatment experience by eliminating injection-related anxiety and discomfort. The Auto Injector is compatible with a wide range of standard syringes and needle sizes.

Exclusive Insights

Hormone therapy finds immense potential in treating hormone-related disorders by guiding hormones to perform in a particular way. Several studies have proven a better life expectancy for patients with long-term hormonal therapy. According to our analysis, end-users focus on the significance of hormone therapy with novel delivery systems and personalized treatment. Moreover, the increasing number of clinical trials is a result of the growing demand for targeted treatments.

Segments Covered in the Report

By Therapy Type

  • Cancer Hormone Therapy
    • Prostate Cancer
      • Anti-Androgens
    • Breast Cancer
      • SERMs
      • Aromatase Inhibitors
      • LHRH Agonists/Antagonists
  • Androgen Replacement Therapy (Testosterone, DHEA)
  • Menopausal Hormone Therapy (Estrogen, Progesterone, Combination Therapy)
  • Thyroid Hormone Therapy (Levothyroxine, Liothyronine, Combination Therapy)
  • Growth Hormone Therapy (Somatropin, IGF-1 Analogues)
  • Gender-Affirming Hormone Therapy
    • Transgender Care
      • Estrogen
      • Anti-Androgens
      • Testosterone

By Hormone Source

  • Synthetic Hormones
  • Bioidentical/Natural Hormones
  • By Route of Administration
  • Oral (Pills, Capsules, Tablets)
  • Transdermal (Patches, Gels, Creams, Sprays)
  • Injectable (Intramuscular, Subcutaneous)
  • Implants & Pellets
  • Others (Nasal Sprays, Vaginal Rings, Inhalation)

By Application/Indication

  • Menopause & Andropause Management
  • Oncology (Breast Cancer, Prostate Cancer, Endometrial Cancer, Others)
  • Hypothyroidism & Hyperthyroidism
  • Growth Disorders in Children & Adults
  • Gender-Affirming Care (Transgender Hormone Therapy)
  • Osteoporosis Prevention & Bone Health

By End-User

  • Hospitals & Specialty Clinics
  • Retail & Online Pharmacies
  • Research & Academic Institutions

By Region 

  • North America
    • U.S.
    • Canada
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Thailand
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Sweden
    • Denmark
    • Norway
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • Middle East and Africa (MEA)
    • South Africa
    • UAE
    • Saudi Arabia
    • Kuwait

Tags

  • Last Updated: 03 October 2025
  • Report Covered: [Revenue + Volume]
  • Historical Year: 2021-2023
  • Base Year: 2024
  • Estimated Years: 2025-2034

Meet the Team

Kesiya Chacko is an accomplished market research professional with over 4+ years of experience in the healthcare industry, known for delivering actionable insights and strategic analysis that empower healthcare organizations.

Learn more about Kesiya Chacko

Aditi Shivarkar is a seasoned professional with over 14 years of experience in healthcare market research. As a content reviewer, Aditi plays a critical role in ensuring the quality and accuracy of all market insights and data presented by the research team.

Learn more about Aditi Shivarkar

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FAQ's

The hormone therapy market is set for significant growth over the forecast period. Discover market drivers, emerging trends, and revenue projections through 2034.

North America is leading the hormone therapy market due to the availability of state-of-the-art research and development facilities, technological advancements, and favorable regulatory policies.

Some key players include Novartis, Pfizer, Inc., Bayer, and Ferring Pharmaceuticals.

Side effects of estrogen therapy include headaches, breast pain, nausea, mood changes, leg cramps, and diarrhea.

American Thyroid Association, Food and Drug Administration, clinicaltrials.gov, Government of Canada