The Business Research Company’s market reports offer an in-depth analysis on the market’s growth potential, major drivers, key trends and more.

The synthetic hormones market has experienced significant growth in recent years, driven by various factors such as the promotion of animal growth, fertility treatments, and menopausal symptom management. This blog explores the market’s current state, future growth prospects, major trends, and key players.

Market Overview

• Strong Recent Growth:
  • The synthetic hormones market size increased from $6.0 billion in 2023 to $6.38 billion in 2024, reflecting a CAGR of 6.3%.
  • Growth in the recent period was fueled by animal growth promotion, performance enhancement, and fertility treatments.
• Future Growth Expectations:
  • The market is expected to grow to $7.79 billion by 2028, with a CAGR of 5.1%.
  • Future growth is attributed to expanding the transgender healthcare market, increased healthcare expenditure, and regulatory approvals.

Key Drivers of Market Growth

• Rising Hormonal Imbalances:
  • The growing incidence of hormonal imbalances is a major driver of the synthetic hormones market.
  • Hormonal imbalances, caused by stress, aging, and lifestyle choices, lead to a need for synthetic hormones to regulate bodily functions.
  • Example: In 2022, the UK saw a 35% increase in hormone replacement therapy (HRT) prescriptions, highlighting the rising demand.

Read More On The Synthetic Hormones Market Report 2024 – https://www.thebusinessresearchcompany.com/report/synthetic-hormones-global-market-report

Major Trends Shaping the Market

• Emergence of Plant-Based Hormone Therapy:
  • Increasing interest in plant-based alternatives is shaping the synthetic hormones market.
  • These therapies offer a natural and sustainable approach, attracting consumers seeking less invasive treatments.
• Integration in Anti-Aging Treatments:
  • Hormone therapy is increasingly integrated into anti-aging treatments, driving market growth.
  • This trend is supported by a growing focus on wellness and longevity among consumers.
• Technological Advancements in Drug Delivery:
  • Innovation in drug delivery systems, such as long-acting injections, is enhancing the effectiveness and convenience of synthetic hormones.
  • Example: Pfizer and OPKO Health’s once-weekly NGENLA (somatrogon) injections received EU approval in 2022, offering a new option for pediatric growth hormone deficiency.
• Focus on Hormone-Free Birth Control:
  • The market is also witnessing a shift toward hormone-free birth control options, catering to those seeking alternatives to synthetic hormones.

Strategic Moves by Key Players

• Development of Long-Acting Recombinant Human Growth Hormone Products:
  • Companies like Pfizer are focusing on innovative products like recombinant human growth hormone to boost profitability.
  • Example: Pfizer’s NGENLA injections provide a long-lasting alternative for growth hormone deficiencies, requiring only weekly administration.
• Aspen Pharmacare’s Expansion in China:
  • In November 2023, Aspen Pharmacare acquired Sandoz’s Chinese business for $100 million, including products like the synthetic hormone injectable Sandostatin.
  • This acquisition strengthens Aspen’s presence in the fast-growing Chinese pharmaceutical market.

Market Segmentation

• By Product Type:
  • Steroid Hormones
  • Peptide Hormones
  • Amino Acid Derivatives
  • Other Product Types
• By Route of Administration:
  • Oral
  • Nasal
  • Topical
  • Intravenous
• By Application:
  • Growth Hormone Deficiency
  • Thyroid Hormone Deficiency
  • Menopause
  • Male Hypogonadism
  • Other Applications
• By End User:
  • Hospital Pharmacies
  • Retail Pharmacies
  • Online Pharmacies

Regional Insights

• North America Dominates:
  • In 2023, North America was the largest region in the synthetic hormones market, driven by advanced healthcare infrastructure and high demand.
• Asia-Pacific’s Rapid Growth:
  • The Asia-Pacific region is expected to be the fastest-growing market during the forecast period, supported by expanding healthcare access and rising awareness of hormone treatments.

Conclusion

The synthetic hormones market is poised for strong growth, driven by the rising incidence of hormonal imbalances, technological advancements, and expanding applications in healthcare. With significant investments and strategic moves by key players, the market is set to continue evolving, offering new opportunities and challenges in the coming years.

Request for A Sample Of The Global Synthetic Hormones Market Report:
https://www.thebusinessresearchcompany.com/sample_request?id=14515&type=smp