The bioidentical hormones from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Bioidentical Hormones Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The bioidentical hormones market size has grown strongly in recent years. It will grow from $7.05 billion in 2023 to $7.49 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to a rise in awareness of hormone-related health issues, increased prevalence of hormonal imbalances, increased aging population, increased healthcare expenditure, and increased demand for alternative medicine.
The bioidentical hormones market size is expected to see strong growth in the next few years. It will grow to $9.60 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The growth in the forecast period can be attributed to increasing focus on women’s health, growing acceptance of personalized medicine, supportive government policies, increasing prevalence of chronic diseases, and rising awareness of the benefits of bioidentical hormones. Major trends in the forecast period include the development of novel bioidentical hormone formulations, growing use of telemedicine for hormone therapy consultations, increasing integration of bioidentical hormones in mainstream medicine, advancements in hormone delivery systems, and the expanding role of biotechnology in hormone production.
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Scope Of Bioidentical Hormones Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Bioidentical Hormones Market Overview
Market Drivers –
The growing demand for personalized medicine is expected to propel the growth of the bioidentical hormones market going forward. Personalized medicine refers to tailoring medical treatment to individual characteristics, such as genetics or lifestyle, to optimize effectiveness and minimize adverse effects. The growing demand for personalized medicine is driven by its potential to provide more effective treatments, advancements in genomics, increasing disease complexity, and regulatory support. Bioidentical hormones offer a tailored approach to personalized medicine by matching a patient’s unique hormonal profile, improving treatment efficacy, and reducing side effects. For instance, in February 2024, according to the Personalized Medicine Coalition, a US-based non-profit organization, the FDA approved 16 novel personalized therapies for patients with rare diseases in 2023, compared to six in 2022. Therefore, the increasing demand for personalized medicine is driving the growth of the bioidentical hormones market.
Market Trends –
Major companies operating in the bioidentical hormones market are increasing their focus on developing advanced solutions, such as bioidentical hormone replacement therapy, to provide more effective and personalized treatment options for hormonal imbalances and related health conditions. Bioidentical hormone replacement therapy (BHRT) involves the use of hormones that are chemically identical to those the human body naturally produces to address hormone imbalances and associated symptoms. For instance, in May 2024, Jagsonpal Pharmaceuticals Limited, an India-based pharmaceutical company, launched MemUp HRT, a US FDA-approved bioidentical hormone therapy. This features a single-pill solution combining bioidentical estradiol and progesterone approved by the US FDA, with support available in nine regional languages. This launch leverages bioidentical hormones for a balanced hormone replacement and single pill formulation to enhance patient compliance, significantly increasing awareness about menopause management, improving patient outcomes, and expanding healthcare options for women in India.
The bioidentical hormones market covered in this report is segmented –
1) By Type: Estrogen, Progesterone, Testosterone, Other Types
2) By Product Type: Tablet And Capsule, Cream And Gel, Patch And Implant, Injectable, Other Product Types
3) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies, Other Distribution Channels
4) By Application: Menopause Management, Hormone Replacement Therapy (HRT), Thyroid Disorders, Andropause Management
5) By End-use: Hospitals, Gynecology Clinics, Research Laboratories, Other End-Users
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Regional Insights –
North America was the largest region in the bioidentical hormones market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the bioidentical hormones market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the bioidentical hormones market are Pfizer Inc., AbbVie Inc., Bayer AG, Abbott Laboratories Inc., Merck KGaA, Hikma Pharmaceuticals Plc, TherapeuticsMD Inc., Gedeon Richter Plc, Noven Pharmaceuticals Inc., AnazaoHealth Corp., Women’s International Pharmacy Inc., Wells Pharmacy Network, ZRT Laboratory LLC, BionPharma Inc., Orion Pharma AB, Actiza Pharmaceutical Private Limited, Biostation, Advantage Pharmaceuticals Inc., Bravado Labs, Neuva Aesthetics, Papillon Medical, United Pharmacy LLC, SottoPelle Inc., Apotheca Compounding Pharmacy, MedQuest Pharmacy
Table of Contents
1. Executive Summary
2. Bioidentical Hormones Market Characteristics
3. Bioidentical Hormones Market Trends And Strategies
4. Bioidentical Hormones Market – Macro Economic Scenario
5. Global Bioidentical Hormones Market Size and Growth
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32. Global Bioidentical Hormones Market Competitive Benchmarking
33. Global Bioidentical Hormones Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Bioidentical Hormones Market
35. Bioidentical Hormones Market Future Outlook and Potential Analysis
36. Appendix
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