According to the latest research report, the bioidentical hormones market is predicted to reach US$ 400 Million by the end of the year 2023 and the market is expected to grow at a CAGR of ~5.2% during the forecast period 2017 – 2023. In 2017, BioTE Medical announced that about nine medical expert across the United States gathering together in order to introduce best testosterone therapy in women. Most of the research commentary on BHRT focuses on the effects of testosterone therapy in men. Yet, the data is there to support the health advantages in women. market report offers comprehensive study of the Bioidentical Hormone Market Revenue ,Overview, Regional Overview, Segments. As per Global Bioidentical Hormone Market Analysis , the Global Market based companies will face certain challenges during the forecast period 2020 to 2027.
In 2016, BioTE Medical is focusing on expanding the nationwide network of certified physicians into the Atlanta, Georgia market. This networking help the company to reach the patient population and capturing the market. These research and development will help company to leads the market. Increasing obese population and unhealthy diet are the factors that leads the market of bio identical hormones. Moreover companies are more focus to capture the market.
Key developments
Companies are continuously developing new products to capture the market globally. Thus major players invest more in research and development activity, in order to lead the global market. In this regards, market players undertake various strategic approaches.
SottoPelle, BioTE Medical (U.S.), Advantage Pharmaceuticals, Inc. (U.S.), Full Life Wellness Center (U.S.), Neuva Aesthetics (U.S.), and Defy Medical (U.S.) are some of the leading players at the cutting edge of the competition in the market of bio identical hormones, globally.
Global Bio identical hormones Market – Overview
Bio identical hormones are biochemically the same as those made our body naturally, Bioidentical Hormone Therapy that uses synthetic hormones or animal-based hormones. These hormones are very same as hormones produce by human body and are used for treatment of hormones deficiency. According to the Food and Drug Administration (FDA) and several medical specialty groups, Bio identical hormones are not much safer than hormones used in traditional therapy, and also there is no evidence that bio identical are more effective in comparison to traditional bio identical therapy.
The global bio identical hormones market is rising with a moderate phase; mainly owing to increase in patient population. This therapy have ability to treat conditions such as heart disease, stroke, Alzheimer’s disease, endometrial and breast cancer. According to WHO, in 2015, around 570,000 women died from breast cancer globally, which are approximately 15% of all cancer deaths among women. Breast cancer is most frequent cancer among the women, and impacting around 1.5 million women every years. Increasing consumer awareness about technology associated with bio identical hormones therapy and increasing population globally leads the bio identical hormones market.
Global Bio identical hormones Market - Regional Analysis
The market of bio identical hormones is much higher in the Americas region. There are huge population suffering from disease such as heart disease, stroke, Alzheimer’s disease, endometrial and breast cancer. According to the report published by Centers for Disease Control and Prevention (CDC), in 2017, around 630,000 Americans died from heart disease every year that is 12 in every 4 death. Thus market players have good opportunity to maximize their profit with in this region owing to high awareness of healthcare awareness. According to Centers for Disease Control and Prevention (CDC), in 2015, around 366,000 people were died from Coronary heart disease and it is the most common type of heart disease. Report suggest that heart disease is the leading cause of death for both men and women. More than half of the men deaths in United States were diagnosed with heart disease in 2015. These statistic shows the huge opportunity for the players.
Europe is also consider huge market for bio identical hormones players, owing to present of huge population affected with chronic disease. Government are more focusing on research and development to introduce new therapy and best treatment for their citizen.
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