The global compounded bioidentical hormone therapy market is estimated to garner a notable CAGR of ~5% over the forecast period, i.e., 2022 – 2031. The compounded bioidentical hormone therapy utilizes processed hormones to help people in regulating the hormonal imbalances. It is estimated that around 80% women suffer from hormonal imbalance worldwide. The global compounded bioidentical hormone market is estimated to expand at a rapid rate over the forecast period on account of the increasing population of women with hormonal imbalances. Furthermore, compounded bioidentical hormone therapy can be used to treat conditions, such as, thyroid disorders, insulin resistance, osteoporosis, and fibromyalgia. As the number of patients is increasing worldwide, scientists are expeditiously researching the remedies, such as, bioidentical hormones. Additionally, menopause in women causes night sweats, insomnia, and hot flashes, which can be prevented by using compounded bioidentical hormone therapy. Owing to its various benefits, the global compounded bioidentical hormone therapy market is estimated to boost over the forecast period.
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The market is segmented by type into estrogen, progesterone, and testosterone, out of which, the estrogen segment is anticipated to hold the notable share in the compounded bioidentical hormone therapy market on account of growing number of women using bioidentical hormone therapy to balance their estrogen levels. The bioidentical hormone therapy helps women in reducing the adverse effects of menopause, which is the reason the global compounded bioidentical hormone therapy market is predicted to grow over the forecast period.
According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centres for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.
Regionally, the global compounded bioidentical hormone therapy market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. The global compounded bioidentical hormone therapy market in the North America region is estimated to witness noteworthy growth during the forecast period, on the back of higher healthcare expenditure, increasing thyroid prevalence amongst women, and more awareness amongst the people. According to a report by American Thyroid Association, one in eight women will develop a thyroid disorder during her lifetime. Furthermore, scientists are proactive to find out remedies for menopause-related issues, which is the reason the global compounded bioidentical hormone therapy is expected to propel over the forecast period.
The Europe region is also projected to witness considerable growth in the compounded bioidentical hormone therapy market over the forecast period owing to the higher disposable income of people, and robust healthcare infrastructure.
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The global compounded bioidentical hormone therapy market is further classified on the basis of region as follows:
North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook
Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook
Our in-depth analysis of the global compounded bioidentical hormone therapy market includes the following segments:
FREQUENTLY ASKED QUESTIONS
The global compounded bioidentical hormone therapy market is expected to propel on the back of increasing health awareness amongst the people.
The market is anticipated to attain a ~5% CAGR over the forecast period, i.e., 2022-2031.
The major players in the market are Defy Medical, LLC, The biostation, Noven Pharmaceuticals, Inc., Novartis AG, and Pfizer Inc.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by type, product type, end-user, and by region.
The estrogen segment is anticipated to hold largest market size in value and is estimated grow at a notable CAGR over the forecast period and display significant growth opportunities.
Adverse health hazards are estimated to hamper the market growth.
The North America region is expected to provide more business opportunities in compounded bioidentical hormone therapy market on the back of whopping healthcare investment.
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