Advertisement
Singapore markets open in 1 hour 16 minutes
  • Straits Times Index

    3,304.00
    +2.22 (+0.07%)
     
  • S&P 500

    5,487.03
    +13.80 (+0.25%)
     
  • Dow

    38,834.86
    +56.76 (+0.15%)
     
  • Nasdaq

    17,862.23
    +5.21 (+0.03%)
     
  • Bitcoin USD

    64,841.94
    -257.79 (-0.40%)
     
  • CMC Crypto 200

    1,382.94
    +45.19 (+3.38%)
     
  • FTSE 100

    8,205.11
    +13.82 (+0.17%)
     
  • Gold

    2,343.00
    -3.90 (-0.17%)
     
  • Crude Oil

    81.30
    -0.27 (-0.33%)
     
  • 10-Yr Bond

    4.2170
    0.0000 (0.00%)
     
  • Nikkei

    38,570.76
    +88.65 (+0.23%)
     
  • Hang Seng

    18,430.39
    +514.84 (+2.87%)
     
  • FTSE Bursa Malaysia

    1,599.79
    -6.34 (-0.39%)
     
  • Jakarta Composite Index

    6,726.92
    -6,734.83 (-50.03%)
     
  • PSE Index

    6,366.03
    -2.77 (-0.04%)
     

United States Sex Reassignment Hormone Therapy Research Report 2024 Featuring Viatris, AbbVie, ASCEND Therapeutics, Pfizer, Eli Lilly and Co, Novartis, Endo International

Company Logo
Company Logo

U.S. Sex Reassignment Hormone Therapy Market

U.S. Sex Reassignment Hormone Therapy Market
U.S. Sex Reassignment Hormone Therapy Market

Dublin, May 30, 2024 (GLOBE NEWSWIRE) -- The "United States Sex Reassignment Hormone Therapy Market, By Region, Competition, Forecast and Opportunities, 2019-2029F" report has been added to ResearchAndMarkets.com's offering.

United States Sex Reassignment Hormone Therapy Market was valued at USD 1.21 billion in 2023 and is anticipated to project steady growth in the forecast period with a CAGR of 4.29% through 2029

The market encompasses a range of pharmaceutical products and medical services designed to assist transgender individuals in aligning their physical characteristics with their gender identity. This includes the administration of hormones such as estrogen and testosterone to promote secondary sex characteristics consistent with an individual's gender identity.



The United States boasts a diverse array of healthcare providers, clinics, and specialized centers that offer hormone therapy services, reflecting the nation's commitment to supporting transgender healthcare. The growth of the U.S. Sex Reassignment Hormone Therapy market is propelled by several factors, including increased societal awareness, expanded insurance coverage, and advancements in medical practices. Greater recognition of transgender rights and the elimination of discriminatory practices have paved the way for more inclusive healthcare services.

ADVERTISEMENT

The expansion of health insurance coverage for transgender-related healthcare has made hormone therapy more accessible to a broader population. As the market continues to evolve, it is characterized by ongoing research into safer and more effective hormone therapies, improved access to care in underserved areas, and a growing community of healthcare professionals with expertise in transgender medicine. Challenges also exist, such as disparities in access to care and the need for more comprehensive insurance coverage.

Key Market Drivers
Increased Awareness and Acceptance

Increased awareness and acceptance have become powerful catalysts in propelling the United States Sex Reassignment Hormone Therapy market to new heights. In recent years, there has been a profound societal shift, characterized by a growing understanding and acceptance of transgender individuals and their unique healthcare needs. This transformation in public perception has significantly boosted the demand for gender-affirming treatments, particularly hormone therapy.

One of the most significant drivers of this change is the increased visibility of transgender individuals in mainstream media, politics, and public discourse. High-profile transgender individuals and activists have shared their personal stories, fostering empathy and understanding among the broader population. This visibility has humanized the transgender experience and created a platform for open conversations about gender identity, thereby reducing stigma and discrimination.

Growing Medical Expertise

Growing medical expertise is a crucial driver that is significantly boosting the United States Sex Reassignment Hormone Therapy market. In recent years, there has been a notable surge in healthcare professionals who specialize in transgender healthcare, particularly in the realm of hormone therapy. This surge in expertise is positively impacting the transgender community and the broader healthcare landscape in several key ways.

The increased number of healthcare providers with specialized knowledge in transgender healthcare ensures that transgender individuals have access to more experienced and knowledgeable practitioners. These experts are well-versed in the unique healthcare needs of transgender patients and are capable of providing tailored and patient-centric care, which is essential in the context of hormone therapy. Patients can have greater confidence in the quality of care they receive, which, in turn, fosters trust and encourages more individuals to seek hormone therapy as part of their gender transition.

Research and Development

Research and development efforts have played a pivotal role in boosting the United States Sex Reassignment Hormone Therapy (HRT) market, fostering innovation, and enhancing the quality and safety of hormone therapy for transgender individuals. This dynamic field of healthcare has witnessed significant advancements in recent years, driven by a combination of medical research, pharmaceutical innovation, and the evolving understanding of transgender healthcare needs.

One of the key contributions of research and development to the HRT market is the development of safer and more effective hormone therapy options. These advancements have reduced potential health risks associated with hormone therapy, ensuring that transgender individuals can undergo their gender-affirming treatment with greater confidence and peace of mind. The research-driven improvements in hormone regimens have led to more personalized treatment plans, better addressing the specific needs and preferences of each patient.

Key Market Challenges

Cost and Insurance Barriers

The United States has made significant strides in improving access to transgender healthcare, but one formidable challenge continues to hinder the progress of the Sex Reassignment Hormone Therapy (HRT) market: cost and insurance barriers. While insurance coverage for gender-affirming care has expanded, it remains far from universal, and many transgender individuals grapple with significant financial obstacles when seeking hormone therapy.

Cost is a paramount concern for transgender individuals seeking hormone therapy. Hormone therapy is a medically necessary aspect of gender transition for many, helping individuals align their physical characteristics with their gender identity. However, the cost of hormone therapy can be a substantial financial burden, especially for those without insurance coverage or with high deductibles and copayments.

Limited Accessibility in Underserved Areas

While significant strides have been made in improving access to transgender healthcare in the United States, a pressing challenge that continues to hinder the Sex Reassignment Hormone Therapy (HRT) market is the limited accessibility in underserved areas. Geographic disparities in healthcare infrastructure, the shortage of specialized providers, and the conservative nature of some regions have left many transgender individuals in underserved areas with inadequate access to gender-affirming hormone therapy.

Key Market Trends

Mental Health Considerations

Mental health considerations are playing a crucial role in boosting the United States Sex Reassignment Hormone Therapy (HRT) market. This trend underscores the importance of addressing the mental health needs of transgender individuals alongside their physical healthcare.

Telehealth Services

One of the primary ways in which telehealth services benefit the HRT market is by increasing accessibility to specialized care. Transgender individuals, particularly those living in underserved or remote areas, often face geographical barriers when seeking gender-affirming care. Telehealth bridges this gap by allowing patients to consult with knowledgeable practitioners from the comfort of their own homes.

Gender Transition Insights

Based on the Gender Transition, Male-To-Female emerged as the dominant segment in the United States Sex Reassignment Hormone Therapy Market in 2023. Studies and data suggest that MTF transitions are more prevalent than FTM transitions. This higher prevalence contributes to a larger pool of individuals seeking MTF hormone therapy, thus increasing demand for these services. MTF individuals, often assigned male at birth, typically require estrogen and anti-androgen medications to develop secondary female sex characteristics, such as breast development and softer skin.

Type Insights

Based on the Type, Estrogen emerged as the fastest growing segment in the United States Sex Reassignment Hormone Therapy Market in 2023. MTF transitions are more common than Female-to-Male (FTM) transitions, contributing to the higher demand for estrogen. Individuals assigned male at birth who wish to transition to a female gender typically require estrogen therapy to develop secondary female sex characteristics, such as breast development, softer skin, and fat redistribution. For many transgender individuals seeking MTF transition, estrogen therapy is deemed medically necessary to address gender dysphoria effectively. This medical necessity is a driving factor behind the high demand for these treatments.

Regional Insights

Mid-West emerged as the dominant region in the United States Sex Reassignment Hormone Therapy Market in 2023, holding the largest market share. The Midwest has made significant strides in improving healthcare accessibility for transgender individuals. This includes a growing number of healthcare facilities and providers specializing in transgender healthcare, making it easier for individuals in the region to access hormone therapy. Many states in the Midwest have implemented non-discrimination laws and regulations that protect the rights of transgender individuals and emphasize the importance of providing gender-affirming care. This supportive legal framework encourages healthcare providers in the region to offer comprehensive HRT services.

Key Attributes:

Report Attribute

Details

No. of Pages

82

Forecast Period

2023 - 2029

Estimated Market Value (USD) in 2023

$1.21 Billion

Forecasted Market Value (USD) by 2029

$1.51 Billion

Compound Annual Growth Rate

4.2%

Regions Covered

United States

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the United States Sex Reassignment Hormone Therapy Market.

  • Viatris Inc.

  • AbbVie Inc.

  • ASCEND Therapeutics US, LLC.

  • Pfizer Inc.

  • Eli Lilly and Company

  • Novartis AG

  • Endo International plc.

Report Scope:

Gender Transition:

  • Male-To-Female

  • Female-To-Male

Type:

  • Puberty Blockers

  • Estrogen

  • Testosterone

Distribution Channel:

  • Hospital Pharmacy

  • Retail Pharmacy

  • Online Pharmacy

Region:

  • North-East

  • Mid-west

  • West

  • South

For more information about this report visit https://www.researchandmarkets.com/r/im1hyq

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Attachment

CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood,Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900