Bio-Identical Hormones in Menopausal treatment is fastest growing segment fueling the growth of Bio-Identical Hormones Market

 

Bio-identical Hormones Market

Market Overview:

Bio-identical hormones provide a natural alternative to treat symptoms associated with menopause in women and andropause in men. These hormones have identical chemical and molecular structure as endogenous hormones in the human body. They are used to treat issues like hot flashes, night sweats, osteoporosis, and mood swings in peri and post menopausal women and andropausal men.

 

The global Bio-Identical Hormones Market is estimated to be valued at US$ 9.08 Bn in 2023 and is expected to exhibit a CAGR of 5.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

 

Market key trends:

The growing geriatric population base and increasing prevalence of hormonal deficiencies worldwide are major drivers for the bio-identical hormones market growth. As per the United Nations Department of Economic and Social Affairs aging population report, the number of people aged 65 years and above are projected to grow from 703 million in 2019 to 1.5 billion in 2050 globally. This aging demographic is more susceptible to develop hormonal imbalances and related health issues. Hence, the demand for bio-identical hormones for treatment of menopause symptoms in women and andropause in men is significantly increasing.

 

Furthermore, growing awareness about adverse effects of synthetic hormones and benefits of bio-identical hormones are encouraging consumers to opt for natural alternatives, which is positively impacting the market growth.

Segment Analysis

 

The global bio-identical hormones market is segmented into type, application, route of administration and end user. Based on type, the market is segmented into estrogens, progesterone and testosterone. Among these, the estrogens segment dominates the market due to increasing prevalence of postmenopausal symptoms in women. Estrogens such as estradiol are widely used as hormone replacement therapy (HRT) to reduce these symptoms.

 

Key Takeaways

 

The Global Bio-identical Hormones Market Size is expected to witness high growth, exhibiting a CAGR of 5.2% over the forecast period, due to increasing incidence of hormonal imbalance disorders and popularity of bio-identical hormones as a safer alternative to traditional hormone therapies.

 

Regional analysis: North America holds the major share in the global market and is expected to dominate the market during the forecast period. This is attributed to growing awareness and favorable reimbursement policies for bio-identical hormone therapies in the region.

 

Key players: Key players operating in the bio-identical hormones market include Noven Pharmaceuticals, Novartis AG, Sottepolle, BioTE Medical, Pfizer Inc., TherapeuticsMD Inc, Bayer AG, and Novo Nordisk A/S. Among these, Noven Pharmaceuticals leads the market owing to its diverse product portfolio and strong distribution network across regions.

Get More Insights Here

https://www.newsstatix.com/bio-identical-hormones-market-share-size-forecast-outlook-2023-2030/

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