ID: MRFR/LS/2843-HCR | February 2021 | Region: Global | 80 pages
According to the latest research report, the bioidentical hormones market is predicted to reach US$ 400 Million by the end of the year 2023 and the market is expected to grow at a CAGR of ~5.2% during the forecast period 2017 – 2023. Situation on the market Unlike traditional hormone treatment, which employs synthetic hormones or animal-based hormones, Bioidentical Hormones Market are biochemically identical to those generated by human bodies naturally. Bioidentical hormones are hormones that are highly similar to those generated by the human body, and they are used to treat hormone insufficiency. Bioidentical hormones are either pre-made or synthesised by a pharmacist in response to a doctor's request. Bioidentical hormones therapies are most often used in the treatment of menopausal symptoms and problems such as hot flashes, nocturnal sweats, weight gain, mood changes, vaginal dryness, tiredness, and so on.
The growing frequency of hormonal imbalance illnesses also aids the bioidentical hormone market's expansion. The health safety of the molecule bioidentical hormone, on the other hand, acts as a market restraint. The hormonal levels discovered in a patient with a hormonal imbalance are used to create customised bioidentical hormonal replacements. The FDA does not test or supervise such custom-made bio identical hormone treatment formulations, and they are not subject to regulatory restrictions. Customized compounded bioidentical hormones are subject to a lack of rigorous quality control. The growing public health concerns about quality control of compound bioidentical hormones, such as purity, contamination, dosage, and accuracy, may have an impact on market growth.
This report contains all the information on the bioidentical hormones market strengths. The report also contains the culmination of dynamics, segmentation, key players, regional analysis, and other important factors. And a detailed analysis of the bioidentical hormones market forecast to 2023 is also included in the report.
Covid 19 Analysis
COVID-19 has the potential to impact the global economy in three ways: directly influencing production and demand, causing supply chain and market disruption, and having a financial impact on companies and financial markets.
Bioidentical Hormones Market Dynamic
The increasing increase in the geriatric population is one of the major reasons predicted to drive the growth and demand for bioidentical hormones. Furthermore, increases in screening for hormonal insufficiency and an expansion in the patient pool are expected to drive growth in the worldwide bioidentical hormones replacement therapy market during the forecast period. Similarly, rising consumer awareness of bioidentical hormones and an increase in the prevalence of hormonal imbalance illnesses are expected to drive market expansion. Furthermore, the increased usage of medicines and the high expenditure on health care is likely to be major drivers in the growth of the bioidentical hormones market.
The fast rise in consumer knowledge of bioidentical hormones and an increase in women's income levels are projected to provide substantial potential opportunities for the bioidentical hormones market from 2021 to 2028.
The numerous adverse effects such as weight loss and impaired vision are expected to restrict the expansion of the bioidentical hormones market.
The increased risk of heart attack and breast cancer may provide a challenge to the industry's growth.
Cumulative Growth Analysis
Because they have not been authorized by the US Food and Drug Administration, bioidentical hormones are rather contentious (FDA). Individual components used by compounding pharmacies are approved by the FDA, but the completed product is not. Prescription hormonal medicines are FDA-regulated and guaranteed to be the same strength every time, but Bio Hormones replacement therapy Market manufactured hormonal preparations are not since batch to batch differences may result in varying doses. In comparison to traditional hormone products, there is no assurance of purity or safety because they are uncontrolled. The assertions that the synthetic Hormones Market is safer have not been backed up by research.
Value Chain Analysis
According to the reports, the bioidentical hormones market has been segmented based on types, product types, end-users, and regions. The market is divided into Estrogens, Progesterone, Testosterone, and Others based on Type. Estrogens held the greatest market share in 2018, with 46.63 percent, and are expected to expand at the fastest CAGR throughout the forecast period. The second-largest market in 2018 was progesterone, which is expected to increase at a CAGR of 5.13 percent in 2019. The market is divided into Tablets & Capsules, Creams & Gels, Injectables, Patches & Implants, and Others. Tablets and capsules have the greatest market share in 2018 and are expected to expand at the fastest CAGR throughout the forecast period. This share can be ascribed to reasons such as increased consumption of bioidentical hormone capsules and increased market availability of tablets and capsule products. Patches & Implants was the second-largest market in 2018 and is expected to expand at a CAGR of 4.64 percent over the next five years.
The market is divided by end-user into hospitals, Clinics, and Other Hospitals. The Hospital, Clinics, and Other Hospitals segment accounted for the biggest market share in 2018 and is expected to expand at the highest CAGR during the forecast period. Hospitals account for a sizable portion of the end-user market. They give better individual counseling to patients than clinics. Hospitals are frequently associated with research centers and medical institutes to provide patients with additional care and safety.
Global Bioidentical Hormones Market Research Methodology:
Bioidentical Hormones Market Segmentation Overview
The market is segmented based on types, product types, end-users, and regions. The bioidentical hormones market is expected to witness decent growth during the forecast period.
Based on the application, the market is segmented into Tablets & Capsules, Creams & Gels, Injectables, Patches & Implants, and Others.
Based on the propulsion types, the market is segmented into hospitals, Clinics, and Other Hospitals.
Figure 1 Global Bioidentical Hormones Market by Stage, 2016 (% market share)
Bioidentical Hormones Market Regional Analysis
According to the reports, based on regions, the bioidentical hormones market is divided into America, Europe, Asia Pacific, and the rest of the world. Due to widespread pharmaceutical usage, fast acceptance of new treatments in the United States, and high healthcare expenditure, the Americas account for the lion's share of bioidentical hormones market share. The majority of this region's research firms are situated in industrialized countries such as the United States and a handful in Canada. North America is the larger market in South America due to income from the United States and Canada. Argentina and Brazil are the strongest economies in South America, and they have the potential to become significant country-specific markets in the future. North America is a larger regional market segment than South America due to the availability of modern medical facilities and income produced in the United States.
Due to high wealth and healthcare penetration, Europe is the world's second-largest Bioidentical Hormones Market. Due to the extremely constantly developing healthcare sector in the Asia Pacific region, China and India are projected to lead this Bioidentical Hormones Market throughout the forecast period. Gulf countries such as Saudi Arabia and the United Arab Emirates are expected to boost the Middle East and African Bioidentical Hormones Market. Due to poor economic and political situations and inadequate healthcare development, the African area is anticipated to expand at a modest pace.
The worldwide bioidentical hormones market is extremely fragmented, with a large number of local companies accounting for a significant part of the industry.
Major Key Players
The following report comprises of –
TherapeuticsMD, Inc. gained FDA clearance for BIJUVA, its first bio-identical hormone combination treatment of estradiol and progesterone, in October 2018. The oral capsule is intended to treat women who are experiencing moderate to severe vasomotor symptoms as a result of bioidentical menopause.
By Distribution Channel
Middle East & Africa
|CAGR||5.2 % (2017-2023)|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Types, Product Types, End Users|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||SottoPelle, BioTE Medical, Advantage Pharmaceuticals, Inc., Full Life Wellness Center, Neuva Aesthetics, Defy Medical, Biostation and others.|
|Key Market Opportunities||New product launches and R&D Amongst major key Players|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
The Bioidentical Hormones Market Would Achieve a CAGR of 5.2% During The Forecast Period Of 2017-2023.
The Bioidentical Hormones Market Would Be Of USD 400 Million.
The Players Are Biote Medical, Sottopelle, Biostation, Full Life Wellness Center, Advantage Pharmaceuticals, inc., defy medical, neuva aesthetics, and others.
The Asia Pacific Market Would Be Driven By India and China.
The Market Has End Users Like Academic & Research, Hospitals & Gynecology Clinics, And Others.