Bio-identicalHormones Market, By Product Type (Estrogen, Progesterone, andTestosterone), By Dosage Form (Tablets and Capsules, Creams and Gels,Injectable, Patches and Implants, and Others), By End User (Hospitals, Clinics,Academics and Research Institutes, and Others), and By Region (North America,Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share,Outlook, and Opportunity Analysis, 2019 - 2027
Bio-identical hormones arebiochemically engineered hormones that resemble hormones produced by the humanbody through natural biological processes. Estrogen, progesterone andtestosterone are some of the common hormones that are manufactured artificially.
Levels of hormones such asestrogen, progesterone and testosterone in the body are lowered withprogression in age, which leads to certain menopausal symptoms in females suchas hot flashes, weight gain, and vaginal pain due to sexual intercourse, vaginaldryness, night sweats, mood swings. In men, low testosterone level can causeerectile dysfunction and reduced bone density. Bio-identical hormones are usedto treat men and women whose natural hormones levels are low or imbalanced. Thebio-identical hormones act as a replacement for natural hormones and increasethe hormonal levels in the body. This process is called bio-identical hormonereplacement therapy (BHRT). Bio-identical hormones are available in the form ofpills, creams, patches, gels, injectables, and implants.
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Global Bio-identical HormonesMarket – Dynamics
Factors such as increasinggeriatric population and females in the menopausal age group are expected toboost the growth of the bio-identical hormones market over the forecast period.For instance, according to an article published in the National Center forBiotechnology Information (NCBI) in November 2019, nearly 1.3 million womenbecome menopausal every year in the U.S and around 75% of the femalesexperience vasomotor symptoms such as hot flashes, palpitations and nightsweating due to menopause.
In addition to the aforementionedfactors, rising awareness about the bio-identical hormone replacement therapy(BHRT), coupled with increased screening of hormonal deficiency is projected topropel the market growth over the forecast period. For instance, according to astudy conducted by researchers from the Obstetrics and Gynecology Department ofKafkas University in January 2019, in Turkey, nearly 432 females out of 926opted for bio-identical hormone replacement therapy in order to treat theirmenopausal symptoms.
However, an increased risk ofbreast cancer in females opting for bio-identical hormone therapy is expectedto restrain the market over the forecast period. For instance, according to astudy published in The Lancet journal, September 2019, nearly 108,647postmenopausal women developed breast cancer, from 1992 to 2018, among theseapproximately 55,575 females were using the hormonal therapy.
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Global Bio-identical HormonesMarket – Regional Insights
North America accounted for thelargest market share in 2018 owing to launches and approvals of bio-identicalhormones in the region. For instance, in September 2018, TherapeuticsMD, Inc.,a pharmaceutical company, launched Imvexxy, (estradiol vaginal inserts) in theU.S. Imvexxy is used for treating moderate-to-severe dyspareunia (vaginal painassociated with sexual activity), due to menopause. Moreover, in June 2019,TherapeuticsMD, Inc. announced a license and supply agreement with Theramex, apharmaceutical company dedicated to women’s health, to commercialize IMVEXXY(estradiol vaginal inserts) and BIJUVA (estradiol and progesterone capsules)outside of the U.S., except in Canada and Israel.
Global Bio-identical HormonesMarket – Competitive Landscape
Key players operating in themarket are TherapeuticsMD, Inc., BioTE Medical, Defy Medical, Full LifeWellness Center, Neuva Aesthetics, and SottoPelle.
Moreover, key players in themarket are focused on developing new products in order to enhance their marketshare. For instance, in October 2018, TherapeuticsMD, Inc. received U.S. Foodand Drug Administration (FDA) approval for its first bio-identical hormonecombination therapy of estradiol and progesterone, BIJUVA. The oral capsule isused for treatment of moderate to severe vasomotor symptoms due to menopause inwomen.
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