High Prevalence of Hormonal Imbalance Disorder is Spurring the Growth of the Bio-identical Hormones Market

 

Bio-identical Hormones Market

Bio-identical hormones are being used in today's society for an extensive variety of reasons. Some of these reasons are for chronic conditions that are difficult to treat using other methods, and others are because the synthetic hormones cause a great deal of discomfort. The most common form of the bio-identical hormones sold online and off are testosterone and estrogen. These hormones are generally produced by the ovaries and are required for a wide variety of bodily functions, including sexuality and menstruation. 

The growing prevalence of hormonal imbalance disorders due to sedentary lifestyles and bad eating habits is fueling the growth of the bio-identical hormones market. According to the Centers for Disease Control and Prevention, Polycystic ovary syndrome (PCOS) is one of the most common causes of female infertility, affecting 6% to 12% (as many as 5 million) of US women of reproductive age. Growing health safety and global health expenditure is also another key factor driving the growth of the bio-identical hormones market. The growing geriatric population coupled with the rising awareness regarding the bio-identical hormone is further anticipated to foster the growth of the market over the forecast period. Also, the increasing prevalence of diabetes around the globe is projected to create an enormous demand for bio-identical hormones over the forecast period.

From the geographical point of view, North America is expected to gain significant growth over the forecast period and this is attributed to the strong presence of the healthcare industry coupled with the high presence of the geriatric population which is increasing prevalence of the chronic disease. According to the Population Reference Bureau, the number of Americans ages 65 and older is projected to nearly double from 52 million in 2018 to 95 million by 2060, and the 65-and-older age group’s share of the total population will rise from 16 percent to 23 percent

Key Developments:

    1. In October 2018, TherapeuticsMD announced that it has received FDA approval for a menopause remedy that combines two bioidentical hormones: Bijuva. It is an oral soft gel that contains estradiol and progesterone, two commonly used hormone therapies, to alleviate menopause symptoms such as hot flashes.

    2. In August 2019, The Marion Gluck Clinic announces its first UK partnership with the Mews Practice Private, Surrey-based clinic that extends treatments to patients with the introduction of bio-identical hormone replacement therapy (BHRT)

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