According to the report, the global testosterone replacement therapy market was valued at US$ 1,613.7Mn in 2018 and is anticipated to expand at a CAGR of 4.4% from 2019 to 2030.
According to the report, the global testosterone replacement therapy market was valued at US$ 1,613.7Mn in 2018 and is anticipated to expand at a CAGR of 4.4% from 2019 to 2030
The global testosterone replacement therapy market for the historical period 2017–2018 and forecast period 2019–2027, increasing incidence of testosterone deficiency, growing awareness among people regarding testosterone replacement therapy and significant pipeline of medications, are projected to drive the global testosterone replacement therapy market during the forecast period.
Get the sample copy of report@ https://qyresearchmedical.com/sample/111896
Rising incidence of testosterone deficiency: Key Drivers
Testosterone deficiency, also known as hypogonadism, is characterized by diminished functioning of the male gonads that reduces testosterone secretion. This occurs mainly due to hypothalamic-pituitary axis dysfunction and/or testicular failure.
Testosterone deficiency is one of the common health problems among men aged between 40 years and 79 years. The incidence of low testosterone levels in men aged over 60 years is estimated to be around 20% of the male population, and in population aged over 70 years, around 30%. The global prevalence of testosterone deficiency ranges from over 10% to 40% of the population.
However, only around 9% patients with testosterone deficiency are being treated in the U.S. This is due to factors such as perceived risk of prostate cancer associated with current treatment therapy and lack of screening/tests for low testosterone. Therefore, increase in incidence rate of testosterone deficiency is expected to drive the testosterone replacement therapy products market in the near future.
Rise in Geriatric Population with High Risk of Testosterone Deficiency Boost Market Growth
The world population is aging rapidly, especially in some of the developed economies such as the U.S., most of Western Europe, and Japan. Developed economies present high rates of aging. This is attributed to improved health care infrastructure, policies, and advancement in health care facilities in these countries. Moreover, access to various diagnostic and treatment services has improved in the recent past especially in developed economies. This in turn has increased the life expectancy of the population.
According to World Health Organization (WHO) estimates, the global geriatric population is likely to reach around 2 billion (22% of global population) by 2050 as compared to 524 million in 2010. The geriatric population would rise at the fastest rates in developed countries such as the U.K, Germany, the U.S., and Japan. However, Brazil, China, Thailand, and South Korea are also expected to have a large geriatric population base in shortest span of time in the near future.
Testosterone levels decrease naturally as age increases beyond 30 years. However, in some cases significant decrease can lead to health problems. World population is rapidly aging. Therefore, with increasing population of age individuals the testosterone deficient men population would also grow, which in turn would increase the demand for testosterone replacement therapy in the global market. Hence, increase in the geriatric population is expected to fuel the growth of the testosterone replacement therapy market globally
Patent Expiry of Key Drugs and Entry of Generics Hamper Market
The testosterone replacement therapy market is expected to experience a patent cliff during the forecast period. Expiration of key drug patents would affect the revenues of large pharmaceutical companies from TRT products. In addition, the generic versions of these drugs would further reduce the global market revenues as these would be priced much lower than their counterparts (branded drugs) that dominated the global market earlier.
This factor is expected to have a profound effect on the overall testosterone replacement therapy products market, causing a drastic dip in market revenues. Moreover, approved ANDAs for most of these molecules will lead to intense generic competition.
Therefore, patent expirations are likely to significantly impact and restrain the testosterone replacement therapy market in the near future.
Global Testosterone replacement therapy Market: Competitive Landscape
This report profiles major players in the global testosterone replacement therapy market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments
The global testosterone replacement therapy market is highly consolidated, with top five players accounting for over 60% of the market.
Leading players operating in the global testosterone replacement therapy market are
- AbbVie, Inc.
- Allergan plc
- Bayer AG
- Endo Pharmaceuticals, Inc.
- Eli Lilly Company
- Kyowa Kirin International plc
- Mylan N.V.
- Novartis AG
- Pfizer, Inc.
- Clarus Therapeutics,
- Ferring Holding SA,
Key Questions Answered in Global Testosterone Replacement Therapy Market Report
- What is the scope of growth of product companies in the global Testosterone Replacement Therapy market?
- What will be the Y-o-Y growth of the global Testosterone Replacement Therapy market between 2019 and 2027?
- What is the influence of changing trends in technologies on the global Testosterone Replacement Therapy market?
- Will North America continue to be the most profitable market for Testosterone Replacement Therapy providers?
- Which factors are anticipated to hamper the growth of the global Testosterone Replacement Therapy market during the forecast period?
- Which are the leading companies in the global Testosterone Replacement Therapy market?
Global Testosterone Replacement Therapy Market – Segmentation
Product Type
- Creams/Gels
- Patches
- Injections
- Gums/Buccal Adhesives
- Implants
- Oral
Active Ingredient Type
- Testosterone
- Methyl Testosterone
- Testosterone Undecanoate
- Testosterone Enanthate
- Testosterone Cypionate
Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Purchase Complete Report Now@ https://qyresearchmedical.com/report/checkout/111896/
You can place an order or ask any questions, please feel free to contact sales@qyresearchmedical.com | +1 9197 992 333
About Us
QYResearch Medical, focuses on custom research, management consulting, IPO consulting, industry chain research, and data base & seminar services. The company owns large basic databases (such as National Bureau of Statistics Database, Customs Import and Export Database, Industry Association Database, etc.), expert resources (including industry experts who own more than 10 years experiences on marketing or R&D in industries of healthcare services, medical technology & devices, etc.), professional survey team (the team members obtained more than 3 years market survey experience and more than 2 years deep expert interview experience), and excellent data analysis team (SPSS statistics and PPT graphics process team).
QYResearch Medical has more than 4000 global well-known customers, covering more than 30 industries including pharmaceuticals, medical technology & devices, healthcare services etc. Company services cover one-stop solution as Data-Analysis-Suggestion-Consulting Implementation. Research regions cover China, US, EU, Asia, Middle East and Africa, South America, Australia, and other regions in the world.
For Latest Update Follow Us:
https://www.linkedin.com/company/qyresearch-medical/
https://www.facebook.com/QYResearch-Medical-108186514228917/
https://twitter.com/qyresearchmedi