Synthetic Hormones Market Size Growth Rate by Application 2021 Analysis, Share, Manufacturers, Growth Factor and Forecast

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Synthetic Hormones
Synthetic Hormones

Synthetic hormones are foreign chemicals that are manufactured in a lab and used to correct hormonal imbalances in the human body. Synthetic Hormones Market like progesterone, oestrogen, thyroid hormone, testosterone, and insulin are commonly used for many health issues. Ferring B.V.'s Zomacton injection (Somatropin), which is used to treat growth hormone insufficiency in children, is an example of synthetic hormones available on the market.

In the worldwide Synthetic Hormones Market, leading producers are busy developing new products. In December 2019, Lyndra Therapeutics Inc. finished pre-clinical testing for an oral contraceptive tablet. The contraceptive pill is a gelatin capsule that, when swallowed, forms a star-shaped polymer that distributes synthetic hormones for three weeks, preventing pregnancy. Mayne Pharma and Mithra Pharmaceuticals, SA (Mithra) struck a 20-year exclusive supply and licence deal in October 2019 to commercialise a novel oral contraceptive including Estetrol (E4) and Drospirenone (E4/DRSP) in the United States. Following approval by the US Food and Drug Administration (US FDA), the product is planned to be released in 2021.

Menopausal hot flashes are becoming more common in the United States, according to the Global Reproductive Health, International Federation of Fertility Societies, 2018. Menopausal symptoms such as heavy or irregular bleeding, breast pain, and hot flashes are estimated to affect around 23 million women aged 45 to 55, resulting in an increase in medical visits. Over the forecast period, these factors are expected to promote the Global Synthetic Hormones Market Growth. According to the National Center for Biotechnology Information (NCBI), the usage of oral contraceptives, birth control pills, birth control shots, vaginal rings, hormonal intrauterine devices (IUDs), and other hormonal devices has increased in 2018. According to the American Thyroid Association, 12% of the US population may develop a thyroid disease in their lifetime, and around 20 million Americans have been diagnosed with thyroid abnormalities.

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