Bioidentical Hormones Market Size, Share, and Industry Analysis, By Type (Estrogen, Progesterone, Testosterone, and Others), By Formulation (Pills, Gels, Patches, Creams, and Others), By Indication (Menopause and Hypogonadism), By Distribution Channel (Hospital Pharmacies, Drug Stores & Retail Pharmacies, and Online Pharmacies), and Regional Forecast, 2025-2032

The global bioidentical hormones market is witnessing significant growth due to factors such as increasing hormonal deficiencies among the population and healthcare professionals choosing bioidentical hormones over synthetic hormones due to various benefits. These factors are driving the adoption of bioidentical hormones in various treatments caused by hormonal deficiencies, contributing to the market growth.

• For instance, according to data published by MA Healthcare Ltd in 2020, the use of bioidentical hormones in various treatments may be preferred over standard HRT owing to their physiological benefits and safety profile.

Bioidentical Hormones Market Driver

Rising Prevalence of Hormonal Deficiencies to Boost Market Growth

Over the past years, there has been an increase in the number of individuals experiencing hormonal deficiencies that are leading to several complications. This is anticipated to boost the demand for effective treatment solutions such as bioidentical hormone replacement therapy. This further encourages prominent players to increase their product offerings, which is expected to propel market growth over the coming years.

• For instance, according to a study published by the Journal of Aging Male in 2020, testosterone levels in men over the age of 40 decreased by approximately 1.0 to 1.6% per year. This is surging the demand for bioidentical testosterone, which is projected to boost the market growth in the coming years.

Download Free sample to learn more about this report.

According to data published by the United Nations (UN), the number of women aged 50 and older has increased significantly over the past decade, and 985 million women worldwide were aged 50 and over 2020, which is projected to rise to 1,650.0 million by 2050.

Bioidentical Hormones Market Restraint

Risks Associated With BHRT May Hamper Market Growth

Despite the several benefits offered by bioidentical hormones, there are side effects associated with this treatment. Moreover, this treatment has evidence of safety over traditional synthetic hormones, which may deter several healthcare professionals and patients from opting for this treatment. Such a scenario is anticipated to limit the market expansion.

• For instance, as per an article published by Harvard Health Publishing in January 2022, there is limited evidence supporting the superiority of bioidenticals over FDA-approved hormone medications, and further, it was stated that the bioidenticals may be riskier. Such limited evidence may limit the treatment recommendation, hampering the market growth during the forecast period.

Bioidentical Hormones Market Opportunity

Advancements in Bioidentical Hormone Treatment May Spur Market Expansion

In recent years, advances in bioidentical hormone replacement therapy have highlighted its potential as a transformative way to deal with hormonal imbalances. The BHRT is emerging as a multifaceted solution to the mitigation of menopausal symptoms and potential cardiometabolic and cognitive benefits. Such a scenario is anticipated to represent a lucrative opportunity for key players to emerge with significant advances to improve treatment outcomes, which may lead to market expansion.

• For instance, according to an article published by Advanced Hormone Solution in April 2024, ongoing research is witnessing that BHRT is becoming increasingly evident that personalized and bioidentical approaches hold potential benefits for patients seeking overall well-being due to hormonal imbalance.

Segmentation

Key Insights

The report covers the following key insights:

• Prevalence of Key Conditions, By Key Countries, 2023
• Key Industry Developments (Mergers, Acquisitions, and Partnerships)
• New Product Launches, By Key Players
• Overview: Regulatory Scenario for Bioidentical Hormones
• Impact of COVID-19 on the Market

Analysis by Type

Based on type, the market is fragmented into estrogen, progesterone, testosterone, and others.

The estrogen segment is expected to hold a major share of the global market. The segment growth can be attributed to the increasing prevalence of menopause among women worldwide, which is expected to boost the demand for estrogen. This is further stimulating key players to increase their product availability worldwide, thereby contributing to the segment growth.

• For instance, according to data published by the World Health Organization in October 2024, the number of postmenopausal women is growing globally. In 2021, 26.0% of all women and girls were aged 50 or older, up from 22.0% a decade earlier. This is increasing the usage of estrogen globally, which is expected to boost segmental growth.

Analysis by Formulation

Based on formulation, the market is subdivided into pills, gels, patches, creams, and others.

The patches segment is expected to hold a substantial share of the global market. The segment's growth can be attributed to the convenience and safety offered by patches. Additionally, it bypasses the liver metabolism and provides a long duration of action. This is leading to an increase in the demand for such products, which is anticipated to spur the segment growth.

• For instance, according to an article published by the Regents of the University of Colorado in November 2024, patches remain the most popular choice for both providers and patients and can be more convenient, often applied weekly or twice weekly. These advantages are expected to boost their usage among the population and support the segment growth.

Analysis by Indication

Based on indication, the market is divided into menopause and hypogonadism.

The hypogonadism segment is expected to hold a substantial share of the global market during the forecast period. The segment growth can be attributed to the rising prevalence of hypogonadism in older and obese men. This may surge the demand for several treatment products, including gels, pills, and others.

• For instance, according to data published by the Endocrine Society in January 2022, it was projected that around 35.0% of men aged more than 45 years and 30.0-50.0% of men with obesity or type 2 diabetes have hypogonadism. Such a scenario is expected to boost the segment growth.

Analysis by Distribution Channel

By distribution channel, the market is fragmented into hospital pharmacies, drug stores & retail pharmacies, and online pharmacies.

The retail pharmacies segment is projected to hold a substantial market share during the projection period. The growth is mainly attributed to a surge in the number of retail pharmacies across the globe, which may increase the accessibility of various FDA-approved bioidentical hormones to patients.

• For instance, according to data published by the Commonwealth Fund in August 2021, there were roughly 60,000 retail pharmacies in the U.S. Such a large number of retail pharmacies in the country is projected to contribute to the sale of FDA-approved bioidentical hormones, driving segmental growth.

Regional Analysis

To gain extensive insights into the market, Download for Customization

Based on region, the market has been studied across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

North America accounted for the largest share of the global market in 2023. The region’s growth is attributed to the rising burden of key conditions such as menopause and hypogonadism across the region's key countries, which is expected to boost the demand for bioidentical hormones.

• For instance, according to an article published by the National Institute of Aging in May 2022, over 1.0 million women in the U.S. experience menopause annually. Such a high burden of menopause is anticipated to spur the demand for bioidentical hormones such as estrogen in the region, supporting its market growth.

Europe is the second-largest market based on the demand for bioidentical hormone products. The growth is attributed to the high availability of bioidentical hormone products due to the significant foothold of key players and distributors in the region.

The Asia Pacific is expected to grow at the highest CAGR during the forecast period. The regional growth can be attributed to the rising geriatric population in the key countries of the region, which may lead to an increased risk of hypogonadism, driving the demand for bioidentical hormones such as testosterone.

• For instance, according to data published by the LANCET in November 2022, China is home to the world's largest population of older people, and by 2040, this number is projected to rise to 402.0 million, accounting for around 28.0% of the country’s population. This is anticipated to surge the regional market growth in the forthcoming years.

Key Players Covered

The global bioidentical hormones market is fragmented, with many companies offering various treatment products.

The report includes the profiles of the following key players:

• Mayne Pharma Group Limited (Australia)
• SottoPelle (U.S.)
• the biostation (U.S.)
• BIOTE MEDICAL, LLC. (U.S.)
• Defy Medical (U.S.)
• ZRT Laboratory (U.S.)
• Advanced Bioidentical Hormone Therapy (U.S.)
• TherapeuticsMD (U.S.)

Key Industry Developments

• In May 2024, Jagsonpal launched MemUp, India’s first hormone replacement therapy featuring a combination of bioidentical progesterone and bioidentical estradiol in a single daily oral capsule for the management of vasomotor symptoms of menopause.
• In October 2018, TherapeuticsMD received FDA approval for the first bioidentical hormone therapy combination of estradiol and progesterone to treat severe vasomotor symptoms associated with menopause.