Insights on the Bio-Identical Hormone Market to 2028 | Industry Statistics, Emerging Demands, Forecast to 2028

The global bio-identical hormone market is anticipated to grow at a significant CAGR during the forecast period (2022-2028). Bio-identical hormones are man-made hormones that are similar to the hormones produced by the body. The rise in the geriatric population who are more prone to hormonal imbalance is anticipated to fuel the demand for bio-identical hormone. According to the data published by World Health Organization in 2021, the share of the population aged 60 years is anticipated to increase from 1 billion in 2020 to 1.4 billion and by 2050 the world's population of people aged 60 and older is anticipated to double to 2.1 billion. Moreover, the number of persons aged 80 years and older are anticipated to triple between 2020 to 2050 to reach 426 million. Thus, owing to this factor, the global bio-identical hormone market is anticipated to grow at a significant rate during the forecast period.
According to the Community based cross-sectional study conducted in India by National Center for Biotechnology Information (NCBI) in 2019, the prevalence of menopausal symptoms was found to be 87.7%. Out of which 80% had anxiety followed by 71.5% of women suffering from physical and mental exhaustion, 61.2% of women had a sleep problem, 60.7% of women reported joint and muscular discomfort, and 36.7 % of women reported hot flushes. Thus, the rise in the prevalence of menopausal symptoms is anticipated to fuel the demand for hormone replacement therapy, which in turn will further drive the growth of the global bio-identical hormone market during the forecast period.
Looking towards the demand for bio-identical hormone market, key market players are adopting various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market. For instance, in January 2022, Pfizer Inc. and opko Health Inc. had received the US FDA issued a Complete Response Letter (CRL) for the Biological License Application (BLA) for Somatrogron. Somatrogron is a long-acting recombinant human growth hormone for the treatment of growth hormone deficiency (GHD) in pediatric patients.
Further, in May 2021, Pfizer Inc and Myovant Sciences had received the USFDA approval of Myfembree (relugolix 40mg, estradiol 1 mg, and norethindrone acetate 0.5mg) for the treatment of management of heavy bleeding associated with uterine fibroids in premenopausal women. The approval was based on the efficacy and safety data from the phase 3 Liberty 1 and Liberty 2 studies, which were published in the New England Journal of Medicine. Furthermore, in April 2021, Therapautics Inc and Theramex had received the approval from Medicines and Healthcare Products Regulatory Agency(MHRA) and the Federal  Agency of Medicines and Health Products (FAMHP) for the use of Bijuve in the UK. Bijuva is the body-identical hormone therapy treatment (HRT) for estrogen deficiency treatment in post-menopausal women with an intact uterus. It is a combination of 1mg bio-identical estradiol and 100mg of bio-identical progesterone in a once daily oral softgel capsule .Thus, such product launches coupled with approvals are anticipated to drive the growth of the global bio-identical hormone market during the forecast period.

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Market Coverage
The market number available for - 2021-2028
Base year- 2021
Forecast period- 2022-2028
Segment Covered-
By Type
By Product
By End-User
Regions Covered-
North America
Europe
Asia-Pacific
Rest of the World

Competitive Landscape- SottoPelle, BioTe Medical LLC, and RevitaLife among others.

A full report is available at: https://orionmarketreports.com/bio-identical-hormone-market/93763/
 

Global Bio-Identical hormone Market Report by Segment
By Type
Estrogens
Progesterone
Testosterone
Others

By Product
Tablets and Capsules
Creams and Gels
Injectable
Patches and Implants
Others

By End-User
Hospital
Clinics
Research and Academics
Others

Key questions addressed by the report
What is the market growth rate?
Which segment and region dominate the market in the base year?
Which segment and region will project the fastest growth in the market?
How has COVID-19 impacted the market?
Deviation from the pre-COVID-19 forecast
Most affected region and segment
Who is the leader in the market?
How players are addressing challenges to sustain growth?
Where is the investment opportunity?

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This release was published on openPR.