After around 2 years a trans woman on HRT is on par physically with a cis woman.
A 2024 paper published in the British Journal of Sports Medicine found that when comparing transgender women, cis women, cis men, and transgender men who compete in regular competitive sport, that transgender women had lower lower-body strength and reduced lung capacity than cis women. Bone density was also equivalent.
That study verifies a report by the Canadian Centre for Ethics in Sport (CCES) in 2024 that trans women who go through testosterone suppression and gender-affirming medical care do not possess a biomedical edge over cis women in sport. The CCES review of a decade’s worth of peer-reviewed research advocated for evidence-informed policies, rather than ones driven by prejudice or fear.