The Global Bioidentical Hormones Market is expected to reach US$ 400 million by 2023, and the market is projected to grow at a CAGR of ~ 5.2 % during the forecast period 2017-2023.
Bio identical hormones are biochemically the same as those made our body naturally, unlike conventional hormone therapy that uses synthetic hormones or animal-based hormones.
Bioidentical hormones are very similar to the hormones produced by the human body and are used as treatment for hormones deficiency. Bioidentical hormones are pre-made on prescription or are compounded by a pharmacist, based on the doctor’s demand. Bioidentical hormones are most commonly used in the treatment of symptoms and associated complications of menopause such as hot flashes, night sweats, weight gain, mood changes, vaginal dryness, fatigue etc. Hormonal therapy however is beset with side effects such as increased risk of breast cancer, heart attack, stroke etc.
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Bioidentical hormones are somewhat controversial because they have not been approved by the U.S. Food and Drug Administration (FDA). The FDA approves of the individual ingredients used by compounding pharmacies but not the finished product. Prescription hormonal pharmaceuticals are FDA-regulated and guaranteed of same strength each time, while, compounded hormonal preparations of bio-identical hormones are not because they may contain different dosages due to batch to batch variations. Being unregulated , there is no guarantee of purity and safety as compared to conventional hormone products. The claims of bioidentical hormones being safer have not been supported by studies.
The market drivers for bioidentical hormones market are increasing geriatric population, growing screening for hormonal deficiency, rising awareness and growing income of women.
Key Players in the Global Bioidentical Hormones Market:
Some of key players profiled in the report are SottoPelle, BioTE Medical, Advantage Pharmaceuticals, Inc., Full Life Wellness Center, Neuva Aesthetics, Defy Medical, Biostation and others.
Companies are continuously developing new products to capture the market globally. Thus major players invest more in research and development activity, in order to lead the global market. In this regards, market players undertake various strategic approaches.
BioTE Medical offers bio-identical hormone replacement pellet therapy for men and women experiencing hormonal imbalance.
In 2017, BioTE Medical announced that about nine medical expert across the United States gathering together in order to introduce best testosterone therapy in women. Most of the research commentary on BHRT focuses on the effects of testosterone therapy in men. Yet, the data is there to support the health advantages in women.
In 2016, BioTE Medical is focusing on expanding the nationwide network of certified physicians into the Atlanta, Georgia market. This networking help the company to reach the patient population and capturing the market. These research and development will help company to leads the market. Increasing obese population and unhealthy diet are the factors that leads the market of bio identical hormones. Moreover companies are more focus to capture the market.
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SottoPelle specializes in hormone replacement therapy for the treatment of hormone imbalance among men and women.
The report for Global Bioidentical Hormones market by Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain a deeper insight of the market and industry performance. The report gives a clear picture of the current market scenario which includes past and estimated future market size with respect to value and volume, technological advancement, macro economical and governing factors in the market. The report provides detail information about and strategies used by top key players in the industry. The report also gives a broad study of the different market segments and regions.
The global bioidentical hormones market has been segmented on the basis of types, product types, and end users.
Based on types, the market has been segmented as estrogens, progesterone, testosterone, others. Based on product types, the market has been segmented as tablets and capsules, creams and gels, injectable, patches and implants, and others. Based on the end users, the market has been segmented as hospitals & gynecology clinics, academic and research and others.
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