According to the latest research by Future Market Insights, Compounded Bioidentical Hormone Therapy market is expected to grow at a CAGR of 5.2% during the forecast period. During the forecast period, the demand for Compounded Bioidentical Hormone Therapy will gradually increase, which will provide producers with numerous lucrative development opportunities in the future.
Bioidentical hormones are artificial hormones that are chemically similar to those naturally produced by the human body. Because they are chemically similar to the hormones produced by the body, bioidentical hormones act as the body's own hormones with very few side effects.
One of the primary factors expected to fuel the rise and demand for compounded bioidentical hormone therapy is the growing geriatric population. Furthermore, during the forecast period, the global compounded bioidentical hormones therapy market is predicted to rise due to increased screening for hormonal insufficiency and an expansion of the patient pool.
Similarly, increased consumer awareness of compounded bioidentical hormone therapy, as well as an increase in the prevalence of hormonal imbalance ailments, are likely to propel market growth. Furthermore, the growing use of pharmaceuticals and high health-care spending are projected to be important drivers of the compounded bioidentical hormone therapy demand outlook development.
Pavilion Compounding Pharmacy offers a latest product called PCCA's Atrevis ™ hydrogel for topical testosterone formulations. Atrevis ™ Hydrogel is a topical drug that delivers testosterone through the skin.
A hydrogel is a three-dimensional (3D) network of polymers or molecular structures capable of retaining fluids and drugs. The benefits of using AtrevisTM include superior hormone delivery, quick absorption through the skin, no alcohol content, and it does not clog the skin pores.
U.S. and Canada region accounts for the majority of compounded bioidentical hormones therapy market share due to broad pharmaceutical use, rapid acceptance of innovative treatments in the United States, and high healthcare expenditure.
The majority of the research firms in this region are located in developed countries such as the United States, with a few in Canada, which is expected to facilitate huge growth of this industry in the forecast period.
Europe is the world’s second largest region with respect to the compounded bioidentical hormone therapy demand outlook. This can be accounted for by the higher disposable income in the region along with major healthcare penetration amongst the population in Europe.
Along with that, the increased awareness of compounded bioidentical hormone therapy amongst the population are projected to propel the growth of this industry in the forecast period.
Some of the key players in this market are Pavilion compounding pharmacy
Bayer AG announced the acquisition of KanDy Therapeutics, Inc in August 2020, which will help Bayer expand its women's medicine pipeline by adding KanDy's menopausal treatment to its portfolio.
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Compounded Bioidentical Hormone Therapy Market
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