Increasing Hormonal Issues among Individuals Are Augmenting the Growth Global Bio-Identical Hormones Market

Bio-Identical Hormones Market
Bio-Identical Hormones Market

Bio-identical Hormones Market, By Product Type (Estrogen, Progesterone, and Testosterone), By Dosage Form (Tablets and Capsules, Creams and Gels, Injectable, Patches and Implants, and Others), By End User (Hospitals, Clinics, Academics and Research Institutes, and Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022-2028.

Market Overview:

Bio-identical hormones have certain molecular structures, which are identical to hormones naturally produced in the human body. These hormones are derived from natural sources and are used to restore hormonal balance in individuals experiencing hormonal deficiencies or imbalances.

Competitive Landscape:

Major players operating in the global Bio-identical Hormones Market include SottoPelle, Neuva Aesthetics, Full Life Wellness Center, Defy Medical, BioTE Medical, and TherapeuticsMD, Inc.

Key Market Drivers:

The prevalence of hormone-related disorders, such as menopause, hypothyroidism, and adrenal insufficiency, is increasing globally. Bio-identical hormones offer a safer and more effective alternative to synthetic hormone replacement therapies, as they closely mimic the body's natural hormones.

The growing awareness of the benefits of bio-identical hormones is expected to augment the growth of the global Bio-identical Hormones Market.

For instance, according to the Obstetrics and Gynecology Department of Kafkas University in 2019, in Turkey around 432 women opted for bio-identical hormone replacement therapy for treating the symptoms related to menopause.

The aging population is a significant driver for the Bio-identical Hormones Market. As individuals age, hormonal imbalances become more common, leading to various health issues. Bio-identical hormone replacement therapy (BHRT) helps manage symptoms and improve the quality of life for older individuals. The expanding geriatric population is thus contributing to the growth of the global bio-identical hormones for market.

Personalized medicine, tailored to an individual's specific needs and genetic makeup, is gaining prominence. Bio-identical hormones allow for customized hormone replacement therapies, as they can be compounded to match an individual's hormone levels and requirements. The demand for personalized treatment options is propelling the adoption of bio-identical hormones.

Consumers are increasingly seeking natural and bioidentical alternatives to synthetic drugs. Bio-identical hormones, derived from natural sources such as plants, offer a more natural and holistic approach to hormone replacement therapy. This preference for natural and bioidentical products is estimated to enhance the growth of the global Bio-identical Hormones Market.

Covid-19 Impact Analysis:

The COVID-19 pandemic led to disruptions in healthcare services and a shift in focus towards managing and treating COVID-19 patients. Non-essential medical treatments, including hormone replacement therapies, were temporarily put on hold, resulting in a decline in demand during the initial phases of the pandemic. This restrained the growth of the global bio-identical hormones for market.

Key Takeaways:

· North America is expected to dominate the growth of the global Bio-identical Hormones Market, owing to the presence of a well-established healthcare infrastructure, high awareness about hormone-related disorders, and a large aging population. The United States is a key market in this region, with a significant contribution from compounding pharmacies offering customized bio-identical hormone formulations. For instance, according to the National Center for Biotechnology Information (NCBI), around 1.3 million women go to menopause every year in the United States.

· The Asia Pacific region is estimated to witness high growth in the global bio-identical hormones for market, owing to factors such as a large population, changing lifestyles, and an increasing focus on preventive healthcare. Countries like China, Japan, and India are expected to contribute significantly to the market's expansion in this region. For instance, according to the Statistical Bureau of Japan, in 2022, the total population of Japan was around 125.05 million.

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