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Testosterone Replacement Therapy Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024

04-11-2017 02:42 PM CET | Health & Medicine

Press release from: Transparency Market Research

Testosterone Replacement Therapy Market

Testosterone Replacement Therapy Market

A wide range of testosterone replacement therapy (TRT) products containing different active ingredients have been made available by a large number of both global and local manufacturers. With various studies estimating the number of men affected by hypogonadism (testosterone deficiency) at 30% worldwide, the demand for TRT is poised to increase gradually in the years ahead. The condition primarily affects men aged between 40 and 79 years, making this demographic a key target segment for market players.

However, the market is currently at a crucial juncture with top performing products losing their patents in the next few years. This will no doubt cause a major dent in revenues of key market players. However, some of this impact could be reduced by the heightened demand for and awareness levels about the benefits of advanced TRT products. Many of these products are now being utilized in testosterone deficiency treatment are likely to support market growth during the forecast period.

Read Full Report: http://www.transparencymarketresearch.com/testosterone-replacement-therapy.html

For the purpose of this study, the global testosterone replacement therapy market has been segmented on the basis of product type into creams/gels, patches, injections, gums/buccal adhesives, implants and oral drug forms. Of these, the creams/gels segment led the global market, as overall sales were mainly impelled by key branded formulations such as AndroGel from AbbVie, Inc. Axiron from Eli Lilly and Company, and Fortesta, Testim, and Natesto from Endo Pharmaceuticals Inc.

Ease of use and comparatively less side effects have been the winning characteristics of gels/cream TRT products. However, this segment is expected to lose its current hold on the market owing to patent expirations of branded formulations.

TMR expects the injections product segment to witness the fastest CAGR from 2016 to 2024. This will be possible mainly because consumers are now more open to using these low priced products – a factor aided by the increasing availability of self-administered forms of these products globally.

On the basis of active ingredients, the TRT market is segmented into testosterone, methyl testosterone, testosterone undecanoate, and testosterone enanthate and testosterone cypionate. Of these, testosterone as an active ingredient dominated the global TRT market in 2015. However, other active ingredients are expected to cover much ground through the forecast period. The demand for ester forms of testosterone such as testosterone cypionate and testosterone undecanoate is projected to show a healthy rise. Testosterone undecanoate is expected to witness the fastest growth through the report’s forecasting horizon from 2016 to 2024.

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Of the five broad geographical segments of the global testosterone replacement therapy market, North America accounted for the largest share (84.7%) of the market and was followed by Europe In 2015. The other key segments are Europe, Asia Pacific, Middle East and Africa (MEA), and Latin America.

The demand for advanced TRT products was especially strong in the U.S. in 2015 as the country accounted for 95% of the North America TRT market in that year, TMR has observed. Asia Pacific will greatly benefit from higher healthcare investments being channeled into the region and is expected to witness the fastest CAGR in the TRT market during the forecast period. China and India are markets that companies in the TRT market cannot ignore. In South Korea and Japan, on the other hand, the sizeable geriatric population and strong positive sentiments will aid the consumption of TRT products. Brazil is the key TRT market in Latin America with the single largest share 2015.

The key players operating in the global testosterone replacement therapy market are AbbVie, Inc., Allergan plc, Bayer AG, Endo Pharmaceuticals, Inc., Eli Lilly and Company, Kyowa Kirin International plc, Mylan N.V., Novartis AG, and Pfizer, Inc. The testosterone replacement therapy market is somewhat consolidated with presence of a few large global players and some local vendors that are operating in the international market.

About Us

Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather, and analyze information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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