Fort Collins, Colorado, Nov. 24, 2023 (GLOBE NEWSWIRE) -- According to DataHorizzon Research, The Bio-Identical Hormone Replacement Market size was valued at USD 33.8 Billion in 2022 and is expected to be valued at USD 61.5 Billion by 2032 at a CAGR of 6.3%.
The market is growing due to the increasing number of women going through menopause. Menopause occurs when menstruation stops for at least 12 months due to a lack of estrogen. This can cause a variety of symptoms that negatively affect a woman's quality of life, such as hot flashes and problems with the cardiovascular and urogenital systems. According to CRMC in Minnesota, around 85% of women going through perimenopause or menopause also experience these symptoms.
The global population is aging quickly; by 2050, women will make up 54% of people aged 65 or older. This means that by 2025, there will be 1.1 billion menopausal women due to increased life expectancy. Hormone treatment, such as body-identical hormone therapy, is often used to manage symptoms.
Growing awareness of the risks associated with menopause is a major driver of market growth. Menopause can cause a range of physical discomforts, including headaches, joint pain, vertigo, poor sleep, digestive issues, and mood changes. Additionally, post-menopausal estrogen deficiency can lead to bone loss, depression, and anxiety. Despite the prevalence of menopause, many countries still lack access to information and services. However, organizations like NAMS and WHO are working to improve awareness and promote the benefits of hormone therapy.
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Segmentation Overview:
The global bio-identical hormone replacement market has been segmented into type, product, end-user, and region. The estrogen segment dominates the bio-identical hormone replacement market with a high growth rate. Bio-identical hormones are synthetic hormones similar to those produced by the human body.
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Bio-Identical Hormone Replacement Market Report Highlights:
- The global bio-identical hormone replacement market growth is anticipated at a CAGR of 6.3% by 2032.
- Artificially developed hormones identical to the natural hormones in the body are known as bio-identical hormones. Hormone replacement therapy is utilized to treat issues caused by hormonal imbalances. The market is expanding as a result of the development of advanced hormone replacement therapies and the growing awareness about the side effects of hormonal imbalances.
- Tablets and capsules are the preferred mode of administration for BHRT. North America leads the market due to a highly developed healthcare system and an older female population.
- Some prominent players in the bio-identical hormone replacement market report include SottoPelle, Therapeutic MD, BioTE Medical, Neuva Aesthetics, Biostation, Defy Medical, and Full Life Wellness.
Industry Trends and Insights:
- Mayne Pharma Group Limited has been granted an exclusive license by TherapeuticsMD, Inc. to commercialize TXMD's products in the United States, marking the completion of the transaction.
- Carillon Miami Wellness Resort has joined the station to introduce a new functional medicine practice. The station facility at Carillon will give guests access to therapies that are designed to prevent and reverse the effects of aging.
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Bio-Identical Hormone Replacement Market Segmentation:
By Type: Estrogens, Progesterone, Testosterone, and Others
By Product: Tablets and Capsules, Creams and Gels, Injectable, Patches and Implants, and Others
By End-user: Hospitals, Academic and Research, and Others
By Region: North America, Latin America, Europe, Asia Pacific, the Middle East and Africa.
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DataHorizzon is a market research and advisory company that assists organizations across the globe in formulating growth strategies for changing business dynamics. Its offerings include consulting services across enterprises and business insights to make actionable decisions. DHR’s comprehensive research methodology for predicting long-term and sustainable trends in the market facilitates complex decisions for organizations.
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