Dublin, Sept. 26, 2024 (GLOBE NEWSWIRE) -- The "Bioidentical Hormones Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
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 bioidentical hormones market size is expected to see strong growth in the next few years. It will grow to $9.6 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%.
During the historical period, growth can be linked to heightened awareness of hormone-related health issues, an increase in hormonal imbalances, a growing elderly population, rising healthcare expenditure, and greater demand for alternative medicine.
Anticipated growth in forecast period is driven by a rising emphasis on women's health, expanding acceptance of personalized medicine, supportive governmental policies, rising incidence of chronic diseases, and increasing awareness of bioidentical hormones' advantages. Key trends expected in the forecast period include the development of innovative bioidentical hormone formulations, greater use of telemedicine for hormone therapy consultations, increased integration of bioidentical hormones into mainstream medical practices, advancements in hormone delivery systems, and the growing influence of biotechnology on hormone production.
The increasing demand for personalized medicine is anticipated to drive the growth of the bioidentical hormones market. Personalized medicine involves customizing medical treatment based on individual characteristics, such as genetics or lifestyle, to enhance effectiveness and reduce adverse effects. This growing demand stems from its potential to offer more effective treatments, advancements in genomics, increasing disease complexity, and regulatory support. Bioidentical hormones align with personalized medicine by matching a patient's specific hormonal profile, improving treatment efficacy, and minimizing side effects. For instance, in February 2024, the Personalized Medicine Coalition reported that the FDA approved 16 new personalized therapies for rare diseases in 2023, up from six in 2022. Thus, the rising demand for personalized medicine is fueling the bioidentical hormones market.
Leading companies in the bioidentical hormones market are focusing on developing advanced solutions such as bioidentical hormone replacement therapy (BHRT) to provide more effective and personalized treatments for hormonal imbalances and related health conditions. BHRT uses hormones that are chemically identical to those produced by the human body to address hormone imbalances and associated symptoms. For example, in May 2024, Jagsonpal Pharmaceuticals Limited, an Indian pharmaceutical company, launched MemUp HRT, a US FDA-approved bioidentical hormone therapy. This therapy features a single-pill solution combining bioidentical estradiol and progesterone, with support available in nine regional languages. This launch aims to leverage bioidentical hormones for balanced hormone replacement and improve patient compliance, thereby raising awareness about menopause management, enhancing patient outcomes, and expanding healthcare options for women in India.
In January 2024, BioTE Medical, LLC, a US-based healthcare company, acquired Asteria Health for $8.5 million. This acquisition strengthens BioTE's supply chain, enhances manufacturing capabilities, and improves its margin profile, positioning BioTE as a vertically integrated leader in the bioidentical hormones market and ensuring reliable access to innovative therapeutic wellness solutions. Asteria Health, based in the UK, provides pharmaceutical compounding solutions, including compounded bioidentical hormones.
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.
The countries covered in the bioidentical hormones market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Competitive Landscape And Company Profiles
- Pfizer Inc.
- Overview
- Products and Services
- Strategy
- Financial Performance
- AbbVie Inc.
- Bayer AG
- Abbott Laboratories Inc.
- Merck KGaA
Other Major And Innovative Companies
- 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
Key Topics Covered:
1. Executive Summary
2. Bioidentical Hormones Market Characteristics
3. Bioidentical Hormones Market Trends And Strategies
4. Bioidentical Hormones Market - Macro Economic Scenario
4.1. Impact Of High Inflation On The Market
4.2. Ukraine-Russia War Impact On The Market
4.3. COVID-19 Impact On The Market
5. Global Bioidentical Hormones Market Size and Growth
5.1. Global Bioidentical Hormones Market Drivers and Restraints
5.1.1. Drivers Of The Market
5.1.2. Restraints Of The Market
5.2. Global Bioidentical Hormones Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Bioidentical Hormones Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)
6. Bioidentical Hormones Market Segmentation
6.1. Global Bioidentical Hormones Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Estrogen
- Progesterone
- Testosterone
- Other Types
6.2. Global Bioidentical Hormones Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Tablet And Capsule
- Cream And Gel
- Patch And Implant
- Injectable
- Other Product Types
6.3. Global Bioidentical Hormones Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- Other Distribution Channels
6.4. Global Bioidentical Hormones Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Menopause Management
- Hormone Replacement Therapy (HRT)
- Thyroid Disorders
- Andropause Management
6.5. Global Bioidentical Hormones Market, Segmentation By End-use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Hospitals
- Gynecology Clinics
- Research Laboratories
- Other End-Users
7. Bioidentical Hormones Market Regional And Country Analysis
7.1. Global Bioidentical Hormones Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Bioidentical Hormones Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
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