Bioidentical Hormones Global Market 2024 To Reach $9.60 Billion By 2028 At Rate Of 6.4%

LONDON, GREATER LONDON, UK, August 14, 2024 /EINPresswire.com/ -- The bioidentical hormones market has experienced robust growth in recent years, expanding from $7.05 billion in 2023 to $7.49 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to a rise in awareness of hormone-related health issues, increased prevalence of hormonal imbalances, increased aging population, increased healthcare expenditure, and increased demand for alternative medicine.

Strong Future Growth Anticipated
The bioidentical hormones market is projected to continue its strong growth, reaching $9.60 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The growth in the forecast period can be attributed to increasing focus on women's health, growing acceptance of personalized medicine, supportive government policies, increasing prevalence of chronic diseases, and rising awareness of the benefits of bioidentical hormones.

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Growth Driver Of The Bioidentical Hormones Market
The growing demand for personalized medicine is expected to propel the growth of the bioidentical hormones market going forward. Personalized medicine refers to tailoring medical treatment to individual characteristics, such as genetics or lifestyle, to optimize effectiveness and minimize adverse effects. The growing demand for personalized medicine is driven by its potential to provide more effective treatments, advancements in genomics, increasing disease complexity, and regulatory support. Bioidentical hormones offer a tailored approach to personalized medicine by matching a patient's unique hormonal profile, improving treatment efficacy, and reducing side effects.

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Major Players And Market Trends
Key players in the bioidentical hormones market include Pfizer Inc., AbbVie Inc., Bayer AG, Abbott Laboratories Inc., Merck KGaA, Hikma Pharmaceuticals Plc, TherapeuticsMD Inc.
Major companies operating in the bioidentical hormones market are increasing their focus on developing advanced solutions, such as bioidentical hormone replacement therapy, to provide more effective and personalized treatment options for hormonal imbalances and related health conditions. Bioidentical hormone replacement therapy (BHRT) involves the use of hormones that are chemically identical to those the human body naturally produces to address hormone imbalances and associated symptoms.

Segments:
1) By Type: Estrogen, Progesterone, Testosterone, Other Types
2) By Product Type: Tablet And Capsule, Cream And Gel, Patch And Implant, Injectable, Other Product Types
3) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies, Other Distribution Channels
4) By Application: Menopause Management, Hormone Replacement Therapy (HRT), Thyroid Disorders, Andropause Management
5) By End-use: Hospitals, Gynecology Clinics, Research Laboratories, Other End-Users

Geographical Insights: North America Leading The Market
North America was the largest region in the bioidentical hormones market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the bioidentical hormones market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Bioidentical Hormones Market Definition
Bioidentical hormones are compounds that are chemically identical to the hormones naturally produced by the human body and are used primarily in hormone replacement therapy to treat hormone imbalances. These are employed to alleviate symptoms associated with menopause, andropause, and other hormonal deficiencies, such as hot flashes, night sweats, mood swings, and low libido.

Bioidentical Hormones Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Bioidentical Hormones Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on bioidentical hormones market size, bioidentical hormones market drivers and trends, bioidentical hormones market major players, bioidentical hormones competitors' revenues, bioidentical hormones market positioning, and bioidentical hormones market growth across geographies. The bioidentical hormones market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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