Testosterone Replacement Therapy Market is Expected To Drive Growth Due To Increasing Prevalence Of Hypogonadism In Adult Men Worldwide | Top Players Pfizer, Inc., Bayer AG, Eli Lilly and Company, AbbVie, Inc.

Testosterone Replacement Therapy (TRT) or low testosterone therapy is commonly called hormone therapy for men, designed to counteract the effects of reduced activity in the gonads or hypogonadism. Hypogonadism in men is clinical syndrome, which results in the failure of the testes to produce physiological levels of testosterone. Hypogonadism may be primary, due to a problem with the testes or secondary due to a problem with the hypothalamus or pituitary gland or combined: primary and secondary. Primary hypogonadism is caused due to genetic abnormalities, testicular trauma, orchitis, radiation treatment or chemotherapy, while secondary hypogonadism is caused due to genetic abnormalities of pituitary and hypothalamus.

Furthermore, functional causes of hypogonadism are mainly attributed to the severe psychological or emotional stress, obesity (WHO grade III or IV- BMI > 30), nutritional deficiency or eating disorders, untreated obstructive sleep apnea, medication such as opioids, androgens, glucocorticoids, anabolic steroids; chronic systemic illness caused due to kidney, lung, heart failure, diabetes mellitus, HIV infection, Crohn’s disease, and aging.

Testosterone Replacement Therapy Market – Drivers

Hypogonadism in men is primarily characterized by reduced concentration of serum testosterone, causing decreased libido, erectile dysfunction, loss of body and facial hair, decreased bone density, weakness, decreased lean body mass, increased body fat, fatigue and anemia. Hypogonadism in adult men is often overlooked; even in the presence of associated symptoms, because the hypogonadism men often ignore the symptoms or they attribute them with alternate cause such as ageing.

Increasing prevalence of hypogonadism in adult men worldwide is expected to drive growth of the testosterone replacement therapy market. According to the European Association of Urology: 2016 report, in middle-aged men, the incidence of hypogonadism varies from 2.1% to 12.8%. The incidence of low testosterone and symptoms of hypogonadism in men aged 40-79 varies form 2.1% to 5.7%, in Europe. Hypogonadism is more prevalent in older men, in men with obesity, those with co-morbidities, and in men with a poor health status. Furthermore, according to the Therapeutics Advances of Urology Journal: 2016, testosterone has become one of the most widely prescribed medications in the U.S. in 2011. These increase resulted in significant growth of testosterone replacement therapy, from US$ 18 million in the 1980 to US$ 1.6 billion in 2011, resulting in five-fold increase.

Ask for In-depth Sample Copy of This Research at https://www.coherentmarketinsights.com/insight/request-sample/2024

Testosterone Replacement Therapy Market – Taxonomy

By Active Ingredient Type:
Testosterone
Methyl Testosterone
Testosterone Undecanoate
Testosterone Enanthate
Testosterone Cypionate

By Route of Administration:
Injectables
Parenteral

By Region:
North America
Latin America
Europe
Asia Pacific
Middle East
Africa

Testosterone Replacement Therapy Market – Regional Analysis

Geographically, global testosterone replacement therapy market is segmented into North America, Latin America, Europe, Middle East, Asia Pacific, and Africa. North America holds major share in the testosterone replacement therapy market, owing to increasing number of people suffering from hypogonadism, combined with rising adoption of testosterone products in the U.S. market. According to the data published in European Association of Urology Journal: 2017, testosterone prescription trends in the U.S. demonstrated an increase between 1.8-and 4-fold over the last two decades (1997 - 2017). Moreover, from 2000 to 2011, there was a 4.3-fold increase in testosterone testing compared to a 3.7-fold increase in prescriptions.

Testosterone Replacement Therapy Market – Competitor

Some of the key players operating in the testosterone replacement therapy market include AbbVie, Inc., Bayer AG, Endo Pharmaceuticals, Inc., Eli Lilly and Company, Kyowa Kirin International plc, Pfizer, Inc., Acerus Pharmaceuticals Corporation, and Perrigo Company plc.

Key players in these market are engaged in product regulatory approval and new product launch strategies to maintain competitive position in the market. For instance, in March 2017, U.S. FDA approved Abbreviated New Drug Application (ANDA) of Perrigo Company plc, for making the generic version of Eli Lilly and Company's Axiron topical solution, 30 mg/1.5 mL (testosterone topical solution, 30 mg/1.5 mL). Endo International Inc. is being an innovative player in the testosterone replacement therapy market, which engaged in launching novel and innovative product in these market. For instance, in March 2015, Endo Pharmaceuticals Inc., a subsidiary of Endo International plc, launched NATESTO (testosterone nasal gel), the first and only nasal gel for testosterone replacement therapy in adult males diagnosed with hypogonadism.

For More Information, Browse Here: https://www.coherentmarketinsights.com/ongoing-insight/testosterone-replacement-therapy-market-2024

About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

Contact Us:

Mr. Shah
Coherent Market Insights
1001 4th Ave,
#3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email: sales@coherentmarketinsights.com

This release was published on openPR.