Pune, India -- (SBWIRE) -- 02/23/2018 -- Bio identical hormones are biochemically the same as those made our body naturally, unlike conventional 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.

The Global Bioidentical Hormones Market is expected to reach US$ 400 million by 2023, and the market is projected to grow at a CAGR of ~ 5.2 % during the forecast period 2017-2023.

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.

Key Players in the Global Bioidentical Hormones Market

Some of key players profiled in the report are SottoPelle, BioTE Medical, Advantage Pharmaceuticals, Inc., Full Life Wellness Center, Neuva Aesthetics, Defy Medical, Biostation and others.

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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.

BioTE Medical

BioTE Medical offers bio-identical hormone replacement pellet therapy for men and women experiencing hormonal imbalance.

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.

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.

SottoPelle:

SottoPelle specializes in hormone replacement therapy for the treatment of hormone imbalance among men and women.

Regional analysis:

The Americas account for a significant market share owing to extensive use of medications and high expenditure on the health care. Additionally, the fastest uptake of new drugs in the US drives the bioidentical hormones market. Also, concentration of major research companies in the developed countries of this region is adding fuel to the market growth.

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Europe is the second largest market in the world due to high income and healthcare penetration.

Asia Pacific region is expected to grow rapidly and China and India are likely to lead this market due to fast growing healthcare sector during the forecast period.

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