Testosterone Gel Market predicted to reach USD 2.96 billion by 2030 with a CAGR of 6.3%

The Global Testosterone Gel Market size is estimated to be USD 1.51 billion in 2019 and is predicted to reach USD 2.96 billion by 2030 with a CAGR of 6.3% from 2020-2030.

Testosterone Gel is an androgel which is used for the treatment of low testosterone levels in men. Testosterone is the male sex hormone which helps in the development of male sex organs and secondary sex characteristics. Low testosterone levels led to the various conditions in men which include osteoporosis, erectile dysfunction, reduced sexual desire, loss of energy, regression of secondary sexual characters and others.

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Top Companies: AbbVie, Perrigo, Teva, Endo Pharmaceuticals, Lupin, Acerus Pharmaceuticals, Upsher-Smith Laboratories and Dr. Reddy’s Laboratories and others.

Market Dynamics and Trends

The developing healthcare facilities coupled with fast developing healthcare infrastructure has proliferated the growth of testosterone gel market. Furthermore, technological advancement and changing lifestyle and genetic conditions may led to the reduced level of testosterone which are expected to accelerate the market growth.

The other factors include various conditions such as COPD, liver disease, pituitary gland problems, diabetes and others may affect the testosterone level and underdevelopment of testicles which are responsible for the production of testosterone are expected to enhance the market growth. However, lack of awareness and limited products with various side effects are expected to hamper the growth of testosterone gel market. Moreover, new product launches and FDA approval for the new products by different manufactures are expected to create lucrative opportunities in the testosterone gel market over the foreasct period.

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Market Segmentations and Scope of the Study:

The global testosterone gel market share is analyzed on the basis of type, application and geography. On the basis of product, the market is segmented into 1% Solution; 1.62% solution; 20 mg/1.25gm: 25 mg/2.5 gm; 40.5 mg/2.5gm: 50 mg/5 g, 1%: 1.62%. On the basis of application, the market is divided into Primary hypogonadism, Hypogonadotropic hypogonadism, and Late-onset hypogonadism. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.

Geographical Analysis

North America denotes a higher adoption of the testosterone gel and is anticipated hold the highest market share during the forecast period. This is attributable to the factors including presence of well-established healthcare amenities, increase in the prevalence of chronic disorders which may affect the testosterone level and new product launches in the region are expected to fuel the growth of testosterone gel market.

Asia Pacific is expected to show rapid growth owing to the presence of developing economies such as India, China and others. Furthermore, increasing patient population and various other conditions such as genetic disorder or underdeveloped testicles are expected to augment the growth of testosterone gel market.

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