Bioidentical Hormones Market 2019: Association between Major Key Vendors Like Advantage Pharmaceuticals Inc. to Produce Promising Growth Opportunities in Upcoming Years, says Straits Research

Bioidentical Hormones Market

Bioidentical hormones are defined as biochemically engineered hormones that are the same as those in the human body formed by natural biological processes. The use of bioidentical hormones is different from conventional hormone therapy as the latter uses animal-based hormones or synthetic hormones. Currently, estrogen, progesterone, and testosterone are available in the market in various forms, including tablets, capsules, creams, and gels. For the record, bioidentical hormones control important tasks in the body, such as growth, food breakdown, sex, and brain function, among others.

The global bioidentical hormones market is majorly driven by increasing screening for hormonal deficiency, rising geriatric population, and rising awareness among people. It is extensively used for the treatment of menopause. In October 2018, USFDA approved the usage of bioidentical hormones for the treatment of menopausal hot flashes, which is further adding fuel to the market growth. In extreme cases, women are also prescribed to undergo hormone-replacement therapy. The bio-identical hormones possess no side-effects and are easily available. Other factors driving the market include lack of nutrition, growing prevalence of sedentary lifestyle, increasing expenditure power, and rising geriatric population. Additionally, the increasing demand for bioidentical hormones is grabbing the attention of umpteen manufacturers in the market. However, the US Food and Drug Administration (USFDA) is reluctant to approve bioidentical hormones as its safety and purity cannot be guaranteed, which is further hampering the market growth to some extent. Similarly, the presence of alternative treatments for Hormone Replacement Therapy (HRT), such as antidepressants, tibolone, clonidine, and herbal medications, is likely to impede the market growth to some extent.

Currently, a number of estrogens, including Estrace, Innofem, FemPatch, Evamist, and Esclim, are under the process of getting approval from the FDA. Moreover,  Premarin, Menest, and Combipatch are the chief contributors to the market revenue. As per the study published by Pfizer, Premarin autonomously recorded a sale of 1,076 million in 2014. Apart from this, the development of drugs with improved safety profiles and novel delivery systems such as vaginal estrogen and transdermal estrogen is likely to boost the market growth to some extent.

The tablet and capsule segment is expected to lead the market on account of shifting preference of patients towards ease of administration and convenient dosage form. Oral medication is one of the most preferred forms of estrogen replacement therapy (ERT), which is further increasing the demand for estradiol and extra lab pills. In line with the growing demand,  a number of leading players are manufacturing estrogens, progestins, and combined hormones in the form of capsules and tablets.

The oral administration route is one of the most popular modes of drug delivery. It is safe, easy to digest, inexpensive, convenient, and versatile, which is why it is prescribed by several healthcare professionals for the treatment of hormonal imbalance.  

The hospital segment is dominating the bioidentical hormones market and will continue the same during the forecast period. This can be attributed to the rapidly developing healthcare infrastructure and the presence of bioidentical hormone replacement therapy centers across the globe. Additionally, a number of drug companies are investing heavily in the field and are using several marketing strategies to promote their bioidentical hormone products among the hospitals.

North America is dominating the global bioidentical hormones market. The prevalence of women suffering from menopause-related issues is increasing at a significant rate. As per the American Congress of Obstetricians and Gynecologists, in the U.S alone, around 6,000 women reach menopause every day, which is over 2 million per year. The extensive use of medications and increasing healthcare expenditure are some of the factors driving the market growth.

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The Major Prominent Players Covered in this Report:
Advantage Pharmaceuticals Inc., TherapeuticsMD Inc., Biostation, BioTE Medical, Defy Medical, Full Life Wellness Center, Neuva Aesthetics, and SottoPelle.

By Type, Estrogens, Progesterone, Testosterone, Others
By Form, Tablets and capsules, Creams and gels, Injectables, Patches and implants, Others
By Route of Administration, Oral, Parenteral, Topical
By End-use, Hospitals, Gynecology clinics, Research laboratories, Others

NOTE: Our analysts monitoring the situation across the globe explains that the market will generate remunerative prospects for producers post the COVID-19 crisis. The report aims to provide an additional illustration of the latest scenario, economic slowdown, and COVID-19 impact on the overall industry.

Geographically, this report is segmented into several key regions, with sales, revenue, market share and growth rate of Steerable Medical Devices in these regions, from 2019 to 2026, covering:
North America (United States, Canada and Mexico)
Europe (Germany, UK, France, Italy, Russia and Turkey etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

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Key Bioidentical Hormones Market Trends:
- The report identifies, determines, and forecasts the Global Bioidentical Hormones Market segments based on their type, sub-type, technology used, applications, end-users, and regions.
- Industry to Industry Holds Largest Share in the Bioidentical Hormones Market
- It examines the micro-markets based on their growth trends, development patterns, future prospects, and contribution to the overall market.
- Demand from Regional / geographical is Expected to Drive the Growth
- Rising Adoption of Market Segments in this Growth
- North American, Europe is Expected to Witness Higher Growth Rate over the Forecast Period
- It studies the competitive developments such as partnerships and collaborations, mergers and acquisitions (M&A), research and development (R&D) activities, product developments, and expansions in the Global Bioidentical Hormones Market.

Key Questions Answered in The Report:
What will the Bioidentical Hormones market growth rate?
What are the key factors driving the global Bioidentical Hormones market?
Who are the key manufacturers in the Bioidentical Hormones market space?
What are the market opportunities, market risk, and market overview of the Bioidentical Hormones market?
What are sales, revenue, and price analysis of top manufacturers of the Bioidentical Hormones market?
Who are the distributors, traders, and dealers of the Bioidentical Hormones market?
What are the market opportunities and threats faced by the vendors in the global Steerable Medical Devices Industry?
What are sales, revenue, and price analysis by types and applications of the Bioidentical Hormones Industry?
What are sales, revenue, and price analysis by regions of Bioidentical Hormones industry?
What are the driving factors contributing to market growth during the short, medium, and long term?

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