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Male Hypogonadism Market Size, Insights, Growth Rate, Trends Analysis And Forecast To 2033
Male Hypogonadism Market
According to The Business Research Company's, The male hypogonadism market size has grown strongly in recent years. It will grow from $3.55 billion in 2023 to $3.8 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to aging population, awareness and diagnosis, lifestyle factors, chronic illnesses, treatment seeking behavior..
The male hypogonadism market size is expected to see strong growth in the next few years. It will grow to $4.77 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The growth in the forecast period can be attributed to rising awareness, prevalence of lifestyle-related conditions, innovations in therapies, emphasis on men's health, telemedicine and healthcare accessibility.. Major trends in the forecast period include attention to psychological and sexual health, exploration of nutraceuticals and lifestyle interventions, market expansion in emerging economies, collaborative research initiatives, focus on long-term safety and monitoring..
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Market Drivers and Trends:
The increase in infertility rates is expected to propel the growth of the male hypogonadism market going forward. Infertility refers to a condition affecting the male or female reproductive system that is characterized by the inability to conceive after 12 months or longer of frequent, unprotected sexual activity. Male hypogonadism, which can lead to decreased sperm production and infertility, is one of the potential causes of male infertility. As a result, the increasing prevalence of male infertility is expected to drive the growth of the male hypogonadism market. For instance, in March 2023, according to the National Institutes of Health (NIH), a US-based Department of Health and Human Services in North America, the estimated male infertility rate is between 4.5% - 6%, while it's 9% in Australia and could be as high as 8% to 12% in Eastern Europe. Also, according to a 2021 study published by the Libyan Journal of Medical Sciences, around 70% of infertility is attributed to male factors in Libya. Therefore, an increase in the infertility rate is driving the growth of the male hypogonadism market.
Product innovations are a key trend gaining popularity in the male hypogonadism market. Companies operating in the male hypogonadism market are innovating new products to sustain their position in the market. For instance, in June 2022, Halozyme, a US-based biotechnology company, launched Tlando, an oral treatment for testosterone replacement therapy of male hypogonadism. Tlando is a prescription drug that contains testosterone, and it is the first oral testosterone treatment approved by FDA. It is used to treat adult men who, as a result of certain medical disorders, have low or no testosterone.
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Major Key Players of the Market:
Allergan plc; Pfizer Inc.; Bayer AG; Eli Lilly and Company Ltd.; Endo International plc.; Merck & Co. Inc.; Ferring Pharmaceuticals; Finox Biotech AG; Teva Pharmaceutical Industries Ltd.; AbbVie Inc.; Perrigo Company plc; AstraZeneca plc; IBSA Institut Biochimique SA; Juniper Laboratories SA; Sun Pharmaceutical Industries Limited; Glenmark Pharmaceuticals Limited; Antares Pharma Inc.; Zydus Cadila LLC; Besins Healthcare Ltd.; Clarus Therapeutics Holdings Inc.; Endocrine Technologies Inc.; Foresee Pharmaceuticals Co. Ltd.; Lipocine Inc.; Mereo BioPharma Group plc; Myovant Sciences Ltd.; Novartis AG; Novo Nordisk A/S; Repros Therapeutics Inc.; Sandoz International GmbH; Sanofi SA; Sermonix Pharmaceuticals LLC; Shionogi & Co. Ltd.; Solvay SA; TherapeuticsMD Inc.; Viking Therapeutics Inc.
Male Hypogonadism Market 2024 Key Insights:
• The male hypogonadism market will grow to $4.77 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%.
• Rising Infertility Rates Fueled Male Hypogonadism Market Growth
• Product Innovations Enhance The Male Hypogonadism Market
• North America was the largest region in the male hypogonadism market in 2023
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