Bioidentical Hormones Market Size and Forecast
,as Are you thinking of using bioidentical hormones as part of your wellness treatments in your clinic or practice?
Bioidentical hormone replacement therapy (BHRT) is a global wellness trend that shows promise in offering women relief from menopause symptoms, but also has plenty of other applications.
This type of revenue stream can also be very lucrative. A report from Verified Market Research estimates that the Global Bioidentical Hormones market will reach USD 9.92 billion by 2026.
Here’s why functional medicine modalities like BHRT should continue to bring plenty of revenue to nurses and other health practitioners.
What is Bioidentical Hormone Therapy Replacement (BHRT)?
Bioidentical hormones have the same structure and biological actions as endogenous hormones.
Bioidentical hormones are derived initially from a molecule called diosgenin found in either soy or yam. The resulting hormone is then manufactured into FDA-approved prescriptions or prepared by compounding pharmacies to patient-specific doses.
They are administered in various forms, including pills, patches, and pellets from either regular pharmacies or compounding pharmacies..
Examples of bioidentical hormones include:
- Estrogen (estradiol, estriol, and estrone)
- Dehydroepiandrosterone (DHEA).
Because bioidentical hormones have the same structure as those made in the body, they are considered to be safer and more effective by many medical thought leaders.
Who Can Benefit From BHRT?
While the primary market for this type of product is certainly menopausal women, plenty of other groups of people can benefit from bioidentical hormones, including men and women who struggle with ongoing health issues such as PCOS.
The most common disorders treated are menopause, hypothyroid disease, male hypogonadism, and PMS.
Hormone therapy can help those suffering from the effects of age-related hormone changes and reduce the severity of health problems like fatigue and low sex drive. Research suggests that hormone therapy may also mitigate the severity of more serious health issues, such as insulin resistance and bone loss.
Additionally, the use of HRT/BHRT in the anti-aging market shows plenty of potential for profit in the coming years.
Why Are Women Choosing BHRT More Often Than Ever?
BHRT has been used successfully for decades, and its popularity continues to surge.
Women, in particular, choose it as an alternative to conventional hormone therapy and other types of treatments. Their reasons for turning away from conventional medicine include:
- An absence of individualized care
- Lack of trust
- Lack of integration of alternative therapies
- Treats symptoms, not causes
- Prescriptions can lead to side effects and addiction
- A demand for individualized treatment plans
- Demand for safe alternatives
- Demand for holistic/functional wellness services
There’s truly a case for bioidentical hormones and other therapies to bring revenue to your practice.
Bioidentical Hormones Market Outlook and Trends
Whether you’re discussing the potential for anti-aging treatments or other types of wellness therapy, there’s no doubt that HRT / BHRT will remain in demand well into the future.
As a result of this continual demand, more US health practitioners are offering BHRT.
Part of this is in response to a 2013 study as reported by the Women’s Health Initiative (WHI), which claimed that there are significant health risks involved in non-bioidentical hormone treatments. Further research shows that only certain types and combinations of hormones given to people in certain high-risk categories could be dangerous. Since bioidentical hormones are offered in customized treatment plans, this negates the risks posed in that WHI report.
This, combined with growing awareness and appreciation for natural or alternative wellness treatments, means that markets will continue to grow.
However, one thing to note for practitioners considering becoming BHRT providers is that people may be hesitant to try compounded treatments as they are individualized and therefore not FDA-approved.
Practitioners should prepare to educate patients who are curious about bioidentical hormones and other types of treatments, and give them clear, updated, scientific information about safety and possible risk factors.
Bioidentical Hormones Market—Product Types
There are different types of BHRT products on the market, including:
- Pellet implants
The biggest markets are tablets and capsules, which are expected to see the highest growth in the next five years. The second-largest growth projection (4.64%) is in the patches and pellet implant sector.
The most prominent growth projection in terms of the type of hormones is estrogen. The market share for these types of products was over 46% in 2018 (Verified Market research).
Estrogen-focused HRT/BHRT can reduce the symptoms of menopausal symptoms, including peri-and post-menopausal symptoms, which predominantly occur between the ages of 40 and 60.
Estrogen is available in a variety of formats and may relieve symptoms like:
- Night sweats
- Sleeping problems
- Urination problems
- Vaginal dryness and discomfort
- Hot flashes
- Skin changes
ERT and other hormone replacement therapies will continue to be in demand, and it’s important to understand how to offer these therapies to patients.
Learn More About How Bioidentical Hormones Can Help Your Patients
Bioidentical hormones can offer people improved quality of life and wellness benefits that go beyond what is mentioned here.
Practitioners looking to offer this service should be ready to have in-depth discussions with patients, answer their questions, and develop customized wellness plans.
Learn more about becoming a BHRT provider or contact us for more information today.