Overview and Scope
The bioidentical hormones market includes revenues earned by entities by providing services such as personalized hormone level testing, compounding pharmacy services, anti-aging treatments, wellness and longevity programs, weight management support, and integrative health services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
Sizing and Forecast
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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Segmentation & Regional Insights
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
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.
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Major Driver Impacting Market Growth
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.
Key Industry Players
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
The bioidentical hormones market report table of contents includes:
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
…
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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