Bioidentical Hormones Market to Grow with a CAGR of 26.55% through 2028

Increasing customization options, regulatory support, and patient preference for natural alternatives are expected to drive the Global Bioidentical Hormones Market growth in the forecast period, 2024-2028.

 

According to TechSci Research report, “Bioidentical Hormones Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”, the Global Bioidentical Hormones Market stood at USD 535.60 million in 2022 and is anticipated to grow with a CAGR of 26.55% in the forecast period, 2024-2028. This can be attributed to the evolving healthcare landscape. The overall healthcare landscape is changing, with a greater emphasis on preventive and personalized medicine. Bioidentical hormones fit well within this paradigm, as they align with the growing trend of tailored treatment plans that consider an individual's unique health profile.

Moreover, the shift towards preventive medicine will lead to the use of bioidentical hormones not only for symptom management but also for disease prevention. Hormone therapy may be considered as a preventive measure in certain at-risk populations.

Bioidentical hormones are synthetic hormones with an identical molecular structure and chemical composition as the hormones naturally produced in the human body. They are derived from plant sources such as soybeans and yams. Despite being created in a laboratory to replicate the body's hormones, they are often considered somewhat natural. Bioidentical hormones encompass hormones like estrogen, progesterone, testosterone, and dehydroepiandrosterone (DHEA). These hormones can be formulated in various forms, including pills, patches, injectables, creams, and more. They serve as a therapeutic option for individuals diagnosed with low hormone levels or hormonal imbalances. Bioidentical hormones are available to patients in two primary forms: first, as FDA-approved formulations manufactured under strict supervision and distributed by retail pharmacies, and second, from compounding pharmacies, where the hormones are customized to meet individual patient requirements.

           

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The Global Bioidentical Hormones Market is segmented into product, hormones type, end user, regional distribution, and company.

Based on its product, Tablets and capsules are poised to dominate the Global Bioidentical Hormones Market in 2022 for several compelling reasons. Firstly, these oral dosage forms offer convenience and ease of administration, making them a preferred choice for both patients and healthcare providers. Their portability and simplicity in dosing ensure widespread patient compliance, a critical factor in hormone therapy. Secondly, tablets and capsules allow for precise dosing, ensuring that patients receive the right number of bioidentical hormones consistently. This accuracy is crucial in hormone replacement therapy to achieve desired clinical outcomes and minimize potential side effects. Additionally, tablets and capsules can be manufactured with extended-release formulations, providing a sustained therapeutic effect, which is particularly advantageous in hormone therapy. Furthermore, the pharmaceutical industry's continuous advancements in tablet and capsule formulations, including improved bioavailability and taste-masking technologies, enhance their market dominance. As the demand for bioidentical hormones continues to rise globally, tablets and capsules are well-positioned to maintain their stronghold in meeting the diverse needs of patients and healthcare providers.

Based on region, North America is poised to dominate the Global Bioidentical Hormones Market in 2022 for several compelling reasons. Firstly, the region benefits from a well-established healthcare infrastructure and a robust pharmaceutical industry that is at the forefront of research and development in hormone therapies. This translates into a wide range of bioidentical hormone products and treatment options readily available to patients and healthcare providers. Secondly, the increasing aging population in North America, along with a growing awareness of the benefits of bioidentical hormones for managing menopausal and age-related health concerns, drives the demand for such therapies. Moreover, the region's stringent regulatory framework ensures product safety and efficacy, instilling confidence among both patients and healthcare professionals. Additionally, a strong emphasis on patient education and personalized medicine in North America further boosts the market, as individuals seek tailored hormone replacement solutions. These factors collectively position North America to maintain its dominance in the Global Bioidentical Hormones Market for the foreseeable future.

 

Major companies operating in Global Bioidentical Hormones Market are:

• Merck KGaA
• Pfizer Inc
• Noven Pharmaceuticals Inc
• SottoPelle
• BioTE Medical, LLC
• Bayer AG
• Novo Nordisk A/S
• TherapeuticsMD Inc
• Novartis AG
• Orion Pharma A/S

 

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“The global bioidentical hormones market is poised for significant growth and transformation in the coming years. With an increasing emphasis on personalized healthcare, regulatory advancements, innovative formulations, and the integration of digital health tools, this market is set to offer more effective, patient-centric solutions for hormonal imbalances. As these trends unfold, healthcare providers, patients, and market players alike will need to stay informed and adapt to this evolving landscape to make the most of the opportunities it presents,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

“Bioidentical Hormones Market By Product (Creams & Gels, Injectable, Patches & Implants, Tablets & Capsules), By Hormones Type (Estrogens, Progesterone, Testosterone), End User (Academic & Research Institutes, Hospitals & Clinics, Others), By Region, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated the future growth potential of Global Bioidentical Hormones Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Bioidentical Hormones Market.

 

 

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