Male Hypogonadism Market is expected to grow at the highest CAGR and dominance over the analysis period
Hypogonadism in the male is a clinical condition in which the testes fail to produce sufficient testosterone, resulting in decreased development of muscle mass, loss of body hair growth, development of breast tissue and a lack of vocalization. Growth in the male hypogonadism market is due to increased prevalence and frequency of patients with testosterone deficiency, increased rates of infertility, and increased patient awareness of options for treating STDs according to certain campaigns conducted by governments. In addition, the risk of germs is very high in the elderly population and in obese and diabetic populations.
The increase in the elderly population and the occurrence of chronic lifestyle disorders (obesity and diabetes) are expected to further stimulate market growth. However, the high side effects of all testosterone products are expected to hamper the growth of the testosterone replacement therapy (TRT) segment in this market. Technology advancement is expected to provide new opportunities during the forecast period.
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Key players have adopted product approval as their key strategy to cater to the changing needs of the industry. There is high competition among key players to launch innovative, technologically advanced products to increase their market share and serve the patients in a better way. Major players operating in this market include AbbVie Inc., Allergan plc, AstraZeneca plc, Bayer AG, Eli Lilly and Company Ltd., Endo International plc, Merck & Co., Inc., Ferring Holding S.A., Finox Biotech, IBSA Institut Biochimque SA, Laboratoires Genevrier, and Teva Pharmaceutical Industries Ltd.
North America accounted for the majority of market share (more than three quarters) in 2015 and is expected to dominate throughout the forecast period. This is due to an increase in the population suffering from primary and secondary causes of hypogonadism and an increase in patient awareness of the usefulness of treatment options. The high adoption rate of high technology products and the presence of highly sophisticated medical infrastructure are expected to create new growth opportunities for key players in this market. Europe is expected to register the highest CAGR of 7.2% during the analysis period with an increase in the adoption of western lifestyle, an increase in unhealthy eating habits, and an increase in the population with hypogonadism. Growth of urbanization.
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Key Findings of the Male Hypogonadism Market
• By drug therapy, gonadotropin and gonadotropin-releasing hormones therapy segment is projected to grow at the highest CAGR of 8.9% during the forecast period.
• Pituitary disorders segment is expected to grow at the CAGR of 3.2%.
• Injectables accounted for nearly half of the market share in 2015.
• North America accounted for majority of the share (more than three-fourths) in 2015, and is expected to remain dominant throughout the forecast period.
• U.S. accounted for the majority share in the North American market in 2015, and the Mexican market is expected to grow at the highest CAGR of 6.7%.
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