What are the Historical Developments and Current Growth Metrics of the Synthetic Hormones Market?
The synthetic hormones market has seen considerable growth due to a variety of factors.
• The market size of synthetic hormones has seen robust growth over the recent years. The market is forecasted to expand from $6.38 billion in 2024 to $6.77 billion in 2025, showing a compound annual growth rate (CAGR) of 6.2%.
Factors such as animal growth promotion, performance enhancement, environmental impacts, fertility treatments, and managing menopausal symptoms have contributed to the growth during the historic period.
What is the Forecasted Market Size and CAGR for the Synthetic Hormones Market?
The synthetic hormones market is expected to maintain its strong growth trajectory in upcoming years.
• Anticipated to experience consistent expansion in the upcoming years, the synthetic hormones market is projected to increase to $8.15 billion by 2029, seeing a compound annual growth rate (CAGR) of 4.7%.
This anticipated growth during the projected period could be credited to several factors, such as the broadening of the transgender healthcare market, a rise in healthcare expenditures and insurance coverage, regulatory approvals, and the widespread use of synthetic hormones. Key trends likely to shape this period include the emergence of plant-based hormone therapy, the inclusion of hormone treatment in anti-aging regimens, advancements in drug delivery technology, and a shift towards hormone-free birth control.
What Key Factors and Trends Are Driving The Growth Synthetic Hormones Market?
The surging instances of hormonal irregularities are anticipated to boost the expansion of the synthetic hormones market in the future. Hormonal imbalance, which entails having an excess or deficiency of a hormone in the bloodstream, can be caused by stress, aging, medical conditions, or lifestyle decisions, interrupting the standard production and regulation of hormones in the body. Synthetic hormones play a crucial role in supplementing or substituting natural hormones in hormonal imbalances, hence helping in managing bodily functions and mitigating symptoms linked with deficiencies or surpluses. For instance, the NHS Business Services Authority, a non-departmental public body based in the UK, revealed that approximately 7.80 million hormone replacement therapy (HRT) items were given out in England in 2022, recording a 35.0% surge from the previous year. As such, the escalating instances of hormonal imbalances are fueling the expansion of the synthetic hormones market.
What Are The Market Segments In The Synthetic Hormones Market?
The synthetic hormones market covered in this report is segmented –
1) By Product Type: Steroid Hormones, Peptide Hormone, Amino Acid Derivatives, Other Product Types
2) By Route of Administration: Oral, Nasal, Topical, Intravenous
3) By Application: Growth Hormone Deficiency, Thyroid Hormone Deficiency, Menopause, Male Hypogonadism, Other Applications
4) By End User: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies
Subsegments:
1) By Steroid Hormones: Corticosteroids, Estrogens and Progesterone, Androgens, Progestins
2) By Peptide Hormones: Insulin, Growth Hormones, Thyroid Stimulating Hormones, Leptin
3) By Amino Acid Derivatives: Thyroxine (T4), Epinephrine (Adrenaline), Melatonin, Serotonin
4) By Other Product Types: Vitamin D Derivatives, Prostaglandins, Gonadotropins
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What New Trends Are Influencing The Synthetic Hormones Market?
Principal firms in the synthetic hormone market, like Pfizer Inc. and OPKO Health Inc., are concentrating on the creation of unique products such as recombinant human growth hormone to enhance their market profitability. Recombinant human growth hormone serves as a treatment for children and adults with growth hormone deficiencies, as well as other medical conditions related to a lack of growth hormone. In February 2022, these two US-based companies, one a pharmaceutical giant and the other a medicinal test and medication firm, obtained approval in the European Union for their once-weekly NGENLA (somatrogon) injections. With the intention to address pediatric growth hormone deficiencies in children and adolescents aged three or older, this innovative long-acting injection serves as an alternative treatment for growth impediments due to inadequate growth hormone. Unlike daily growth hormone injections, NGENLA can be administered subcutaneously and possesses a longer-effective period in the body, thus requiring only weekly assistance.
Who Are the Key Players In The Synthetic Hormones Market?
Major companies operating in the synthetic hormones market are:
• Pfizer Inc.
• Johnson & Johnson
• AbbVie Inc.
• Bristol Myers Squibb Company
• Sanofi SA
• AstraZeneca PLC
• Novartis AG
• GlaxoSmithKline PLC
• Gilead Sciences Inc.
• Boehringer Ingelheim International GmbH
• Novo Nordisk A/S
• Merck & Co. Inc.
• Teva Pharmaceutical Industries Ltd.
• Ferring B.V.
• Endo Pharmaceuticals Inc.
• Lupin Pharmaceuticals Inc.
• IBSA Institute Biochimique SA
• American Regent Inc.
• McGuff Pharmaceuticals Inc.
• Anhui Anke Biotechnology Co.Ltd.
• Lyndra Therapeutics Inc.
• Acerus Pharmaceuticals Corporation
• Arch BioPartners Inc.
• Slayback Pharma LLC
What Are The Regional Insights Into The Synthetic Hormones Market?
North America was the largest region in the synthetic hormones market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the synthetic hormones market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
