The Global Bioidentical Hormones Market is expected to reach US$ 400 million by 2023, and the market is projected to grow at a CAGR of ~ 5.2 % during the forecast period 2017-2023.
Key Players in the Global Bioidentical Hormones Market:
SottoPelle, BioTE Medical, Advantage Pharmaceuticals, Inc., Full Life Wellness Center, Neuva Aesthetics, Defy Medical, Biostation and others.
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Global Bioidentical Hormones Market Overview:
Bio identical hormones are biochemically the same as those made our body naturally, unlike conventional hormone therapy that uses synthetic hormones or animal-based hormones.
Bioidentical hormones are very similar to the hormones produced by the human body and are used as treatment for hormones deficiency. Bioidentical hormones are pre-made on prescription or are compounded by a pharmacist, based on the doctor’s demand. Bioidentical hormones are most commonly used in the treatment of symptoms and associated complications of menopause such as hot flashes, night sweats, weight gain, mood changes, vaginal dryness, fatigue etc. Hormonal therapy however is beset with side effects such as increased risk of breast cancer, heart attack, stroke etc.
Bioidentical hormones are somewhat controversial because they have not been approved by the U.S. Food and Drug Administration (FDA). The FDA approves of the individual ingredients used by compounding pharmacies but not the finished product. Prescription hormonal pharmaceuticals are FDA-regulated and guaranteed of same strength each time, while, compounded hormonal preparations of bio-identical hormones are not because they may contain different dosages due to batch to batch variations. Being unregulated , there is no guarantee of purity and safety as compared to conventional hormone products. The claims of bioidentical hormones being safer have not been supported by studies.
The market drivers for bioidentical hormones market are increasing geriatric population, growing screening for hormonal deficiency, rising awareness and growing income of women.
The global bioidentical hormones market has been segmented on the basis of types, product types, and end users.
Based on types, the market has been segmented as estrogens, progesterone, testosterone, others.
Based on product types, the market has been segmented as tablets and capsules, creams and gels, injectable, patches and implants, and others.
Based on the end users, the market has been segmented as hospitals & gynecology clinics, academic and research and others.
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The Americas account for a significant market share owing to extensive use of medications and high expenditure on the health care. Additionally, the fastest uptake of new drugs in the US drives the bioidentical hormones market. Also, concentration of major research companies in the developed countries of this region is adding fuel to the market growth.
Europe is the second largest market in the world due to high income and healthcare penetration.
Asia Pacific region is expected to grow rapidly and China and India are likely to lead this market due to fast growing healthcare sector during the forecast period.
Gulf nations such as Saudi Arabia and the UAE are estimated to drive the Middle East & African market. The African region is expected to witness a moderate growth owing to poor economic and political conditions and poor healthcare development.
Table of Contents:
1.2 Scope of Study
1.2.1 Research Objective
1.2.2 Assumptions & Limitations
1.3 Market Structure
2 Research Methodology
2.1 Research Process
2.2 Primary Research
2.3 Secondary Research
3 Market Dynamics
3.4 Macroeconomic Indicators
4 Market Factor Analysis
4.1 Porters Five Forces Model
4.2 Bargaining Power of Suppliers
4.3 Bargaining Power of Buyers
4.4 Threat of New Entrants
4.5 Threat of Substitutes
4.6 Intensity of Rivalry
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