Testosterone Replacement Therapy Market to grow with a CAGR of 7.50%
Increasing
healthcare infrastructure and a supportive regulatory environment are the major
drivers for the Global Testosterone Replacement Therapy Market.
According
to TechSci Research report, “Global Testosterone Replacement Therapy Market Industry
Size, Share, Trends, Competition, Opportunity and Forecast, 2018-2028”, Global Testosterone
Replacement Therapy Market has valued at USD 498.50 million in 2022 and is
anticipated to witness an impressive growth in the forecast period with a CAGR
of 7.50% through 2028. This can be due to collaborations and partnerships among
leading companies with a diverse approach to merge the expertise of individual
companies and to strengthen their position in the market.
Increased awareness of testosterone deficiency
and its associated symptoms has played a significant role in driving the demand
for testosterone replacement therapy (TRT) in the global market. Pharmaceutical
companies, healthcare organizations, and advocacy groups have launched
educational campaigns to raise awareness about the signs and symptoms of low
testosterone. These campaigns provide information to both the public and
healthcare providers, leading to earlier recognition of potential cases. Media
outlets, including television, radio, print, and digital media, have covered
topics related to low testosterone and TRT. This media exposure has helped
disseminate information about the condition and its treatment options to a
broader audience. Routine health checkups and screenings conducted by
healthcare providers often include assessments of testosterone levels. When
healthcare providers identify low testosterone levels in their patients, they
can discuss treatment options, including TRT.
Browse over XX market data Figures and spread through 110 Pages and an
in-depth TOC on "Testosterone Replacement Therapy Market”
One
of the most significant kinds of hormone replacement treatment for men that has
been widely embraced is testosterone replacement therapy, also known as
androgen replacement therapy. It is generally used to treat low
testosterone-related illnesses such hypogonadism. However, it's gaining
popularity for non-medical purposes including boosting sexual performance,
raising energy levels, and bulking up for bodybuilding.
In
August 2022, for males with hypogonadism, a condition in which there is
insufficient or no testosterone, the U.S. Food and Drug Administration (FDA)
has authorized Kyzatrex, an oral testosterone replacement medication. A
patented oral softgel pill known as Kyzatrex, or testosterone undecanoate,
predominantly absorbs through the lymphatic system to prevent liver
damage. The risk of application site
responses associated with intramuscular testosterone injections as well as
potential transference to women or children that can happen with topical testosterone
gels and creams are both eliminated by the oral administration route.
The potential side effects and risks
associated with testosterone replacement therapy (TRT) are significant
challenges in the global TRT market. While TRT can be an effective treatment
for individuals with clinically diagnosed hypogonadism, it is not without
risks, and healthcare providers must carefully assess the potential benefits
and drawbacks for each patient. TRT can stimulate the production of red blood
cells, leading to a condition known as erythrocytosis or polycythemia. Elevated
red blood cell counts can increase the risk of blood clots and related
cardiovascular complications. Transdermal gels and patches can sometimes cause
skin irritation or allergic reactions at the application site.
Global Testosterone Replacement Therapy Market segmentation
is based on
Indication, Product Type, Drug Active,
Distribution Channel, Region and Company
Based on Indication, Global Testosterone
Replacement Therapy Market is segmented into Autoimmune Conditions, Genetic Disorders,
Hypogonadism, Sex Organ Surgeries. Autoimmune
conditions refer to a group of disorders in which the immune system mistakenly
targets and attacks the body's own tissues and organs, leading to inflammation
and damage. Autoimmune conditions can affect various parts of the body, and
they are characterized by the immune system's inability to distinguish between
foreign invaders (like bacteria or viruses) and the body's healthy cells and
tissues. Some autoimmune
conditions can directly affect the testes or other components of the male
reproductive system. Autoimmune hypogonadism is a condition in which the immune
system mistakenly targets and damages the testes, leading to a decrease in
testosterone production. This can result in low testosterone levels and the
symptoms associated with testosterone deficiency.
Based on Region, North America dominated the Global Testosterone
Replacement Therapy Market. North America has been at the forefront of
telemedicine and online healthcare services. The convenience of remote
consultations and online prescription services has contributed to TRT
accessibility. North American research institutions and pharmaceutical
companies have conducted extensive research and clinical trials related to TRT.
This research often influences treatment guidelines and practices. The United
States allows direct-to-consumer advertising of prescription medications,
including TRT. This advertising can raise awareness and drive patient requests
for TRT prescriptions. Health insurance coverage in North America, especially
in the United States, can often include TRT as a covered medical expense. This
helps make TRT more accessible and affordable to a significant portion of the
population.
Asia-pacific region to fastest growth in
the Global Testosterone Replacement Therapy Market. Improvements in healthcare
infrastructure, increased access to medical services, and greater awareness of
health issues have made it easier for individuals in the Asia-Pacific region to
seek medical evaluation and treatment for conditions such as hypogonadism. The
awareness of the symptoms associated with low testosterone and their impact on
men's health has been increasing in the Asia-Pacific region. As a result, more
men are seeking medical attention and diagnosis for potential testosterone
deficiency. Rapid urbanization and changing lifestyles in many parts of the
Asia-Pacific region have led to sedentary habits, dietary changes, and
increased stress levels. These factors can contribute to hormonal imbalances
and an increased incidence of hypogonadism.
Some
of the major companies operating in the Global
Testosterone Replacement Therapy Market include:
- AbbVie
Inc.
- Bausch
Health Companies Inc.
- Pfizer
Inc.
- Teva
Pharmaceutical Industries Ltd.
- Perrigo
Company plc
- Cipla
Inc.
- Sun
Pharmaceuticals Industries Ltd.
- Sanofi
SA
- Johnsons
& Johnsons Services Inc
- GlaxoSmithKline
Plc.
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“Certain areas, particularly in North
America, are projected to exert significant demand for testosterone. The growth
in the competitive landscape and the presence of well-established companies in
the market, committed to enhance the overall wellbeing of people each year, are
expected to contribute to a remarkable growth of the Global Testosterone
Replacement Therapy Market in the forecast period," said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based Global management
consulting firm.
Testosterone
Replacement Therapy Market – Global Industry Size, Share, Trends, Opportunity,
and Forecast, 2018-2028 Segmented by
Indication (Autoimmune Conditions,
Genetic Disorders, Hypogonadism, Sex Organ Surgeries), by Product Type (Buccal Adhesive,
Gel or Creams, Implants,
Oral, Parenteral, Patches), by Drug Active (Methyltestosterone, Testosterone
Cypionate, Testosterone Enanthate), by Distribution Channel (Hospital Pharmacy,
Online Pharmacy & Retail Pharmacy), by End Users (Homecare, Hospitals, Specialty Clinics), by region,
and Competition evaluated the future growth potential of Global Testosterone
Replacement Therapy Market and provides statistics & information on market
size, structure, and future market growth. The report intends to provide innovative
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in Global Testosterone
Replacement Therapy Market.
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