Testosterone Replacement Therapy Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2029
Testosterone Replacement Therapy Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2029
Report Digest
Global Testosterone Replacement Therapy Market: Overview
The global testosterone replacement therapy market is expected to be influenced by the rising awareness about the diseases itself. There has been a rise in the incidences of hypogonadism, which has resulted in several companies to make an introduction of various awareness campaigns so as to encourage people to come out for early diagnosis of the disease. The surge in the emergence of novel therapeutic approaches has become an emerging trend, which is further expected to stimulate growth of the global testosterone replacement therapy market over the timeframe of analysis, from 2019 to 2029.
In addition, players in this market are making increased investment, both in terms of money and efforts, in the research and development activities so as to come up with alternative, new, and safer options of treatment.
The two important parameters taken into account for segmentation of the global testosterone replacement therapy market comprise product and region. The sole purpose of such segmentation is to offer a clearer, 360-degree view of the market.
Global Testosterone Replacement Therapy Market: Notable Developments
The global testosterone replacement therapy market has witnessed few interesting developments in the recent past. One of those developments pertaining to the market is mentioned as below:
- In February 2020, US-based Clarus Therapeutics Inc. made an announcement that its JATENZO® capsules, CIII can now be obtained in the US by producing a prescription. This capsules are meant to treat men with hypogonadism i.e. deficiency of testosterone. So far, JATENZO is the only available oral softgel testosterone undecanoate and the very first one that has received a nod from the US Food and Drug Administration (FDA) in the last 60 years.
Some of the key players in the global testosterone replacement therapy market comprise the below-mentioned:
- Teva Pharmaceutical Industries Ltd
- Pfizer, Inc.
- Eli Lilly and Company
- Acerus Pharmaceuticals Corporation
- Ferring Pharmaceuticals
- Endo International Plc
Global Testosterone Replacement Therapy Market: Key Trends
The global testosterone replacement therapy market comes with the presence of several drivers, restraints, and opportunities. Some of these market dynamics pertaining to the market are explained below.
Demand to Ride on the Back of High Prevalence of Hypogonadism
The high prevalence of deficiency of testosterone all over the world is estimated to foster growth of the global testosterone replacement therapy market over the timeframe of analysis, from 2019 to 2029. A fall in the level and release of testosterone leads to the development hypogonadism in men, which is the major factor attributed for the growth of the global testosterone replacement therapy market in the years to come.
In addition, for long there has been a social stigma attached to the prevalence of the condition in men. People do not usually come out acknowledging suffering from the condition due to the social stigma attached to it, which has led to the increasing number of campaigns encouraging awareness about the diseases. This factor is likely to trigger growth of the global testosterone replacement therapy market over the timeframe of assessment, from 2019 to 2027.
Global Testosterone Replacement Therapy Market: Geographical Analysis
In the global testosterone replacement therapy market, it is expected that North America will dominate the market throughout the timeframe of analysis, from 2019 to 2029. Regional dominance of the North America market is ascribed to the augmented awareness about the diseases and rising number of initiatives by both government and private agencies to make people aware of it. In addition, high prevalence of hypogonadism in the region together with the expanding base of geriatric population is expected to work in favor of the North America testosterone replacement therapy market in the years to come.
The global testosterone replacement therapy market is segmented as:
Product
- Injectables
- Topical
Region
- North America
- United States
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Russia
- Italy
- Asia Pacific
- China
- Japan
- Korea
- India
- Southeast Asia
- The Middle East
- Saudi Arabia
- UAE
- Egypt
- Nigeria
- South Africa
- Latin America
- Brazil
- Argentina
- Colombia
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