Bioidentical Hormones Market Sales Summary, Growth Opportunities, Segmentation, Drivers and Restraint to 2025. Bioidentical hormones market is accounted for USD 282.4 million in 2016 growing at a CAGR of 5.1% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic years 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
The global bioidentical hormones market is highly fragmented and is based on new product launches and clinical results of products. Hence the major players have used various strategies such as new product launches, clinical trials, market initiatives, high expense on research and development, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of bioidentical hormones market for global, Europe, North America, Asia Pacific and South America.
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Bioidentical Hormones Market Major Competitors:
- Novartis AG
- Novo Nordisk A/S
- Orion Pharma AB among others.
Major Market Drivers and Restraints:
- Increasing geriatric population
- Growing screening for hormonal deficiency
- Rising awareness
Hormones are special chemicals made by parts of the body called glands. They are messengers that tell other parts of the body how and when to work. Hormones control almost all tasks in the body. These include sex and brain function, growth and the breakdown of food. When hormones are out of balance, symptoms can occur.
Bioidentical hormones are defined as man-made hormones that are very similar to the hormones produced by the human body. Common hormones that are matched are estrogen, progesterone and testosterone. These are then used as treatment for men and women whose own hormones are low or out of balance. Some prescription forms of bioidentical hormones are pre-made by a drug company. Other forms are custom-made by a pharmacist based on a doctor’s order. This is called compounding. The US Food and Drug Administration (FDA) has approved a number of preparations of bioidentical estradiol and progesterone, which are molecularly identical to the structure of the hormones generated by the human body. They have been through testing for safety and purity and to be sure each dose has the same amount of hormones. The compounded forms have not been tested and approved by the FDA. Though it is often advertised that products that are made from plants like soybeans and yams are “natural” choices, they are altered greatly in a lab so are no longer natural when done with processing. Both the FDA-approved and compounded hormones come in a variety of doses and routes of delivery (pills, creams, gels, sprays, and vaginal inserts).
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Customized bioidentical hormones are often advertised as being a safer, more effective, natural, and an individualized alternative to conventional hormone therapy. However, these claims remain unsupported by any large-scale, well designed studies. Also, the lack of FDA oversight for compounded hormones generates additional risks regarding the purity and safety of custom compounded bioidentical hormones. Although custom hormone combinations often include blends of the same ingredients found in FDA-approved bioidentical hormones (i.e., plant-derived 17β-estradiol or micronized progesterone), some custom compounded preparations include additional hormone varieties (i.e., estriol, pregnenolone, and DHEA). These additional hormones have not undergone adequate testing and are therefore not included in any FDA-approved products.
Market Segmentation: Bioidentical Hormones Market
By type, global bioidentical hormones market is segmented into estrogens, progesterone, testosterone, and others.
On the basis of product types, global bioidentical hormones market is segmented into tablets & capsules, creams & gels, injectable and patches & implants.
On the basis of end user, global bioidentical hormones market is segmented into hospital, clinics and others
On the basis of geography, global bioidentical hormones market report covers data points for 28 countries across multiple geographies such as North America & South America, Europe, Asia-Pacific, and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others. In 2017, North America is expected to dominate the market.
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