PUBLISHER: The Business Research Company | PRODUCT CODE: 1409847
PUBLISHER: The Business Research Company | PRODUCT CODE: 1409847
“Testosterone Replacement Therapy Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on testosterone replacement therapy market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for testosterone replacement therapy? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The testosterone replacement therapy market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Testosterone replacement therapy is a hormonal treatment method utilized to address low testosterone (T) levels in males, commonly associated with aging or certain medical conditions.
The primary types of testosterone replacement therapy include oral formulations, implants, gels or creams, patches, buccal adhesives, parenteral administration, and other delivery methods. Oral administration involves intake through the mouth via tablets, capsules, syrups, or similar forms. Low testosterone indications encompass conditions such as hypogonadism, autoimmune disorders, genetic abnormalities, sex organ surgeries, and other related issues. Various active ingredients are employed in treating such conditions, including testosterone, methyl testosterone, testosterone undecanoate, testosterone enanthate, and testosterone cypionate. These therapies are administered by various end-users, including hospitals, clinics, and other healthcare facilities.
The testosterone replacement therapy market research report is one of a series of new reports from The Business Research Company that provides testosterone replacement therapy market statistics, including testosterone replacement therapy industry global market size, regional shares, competitors with a testosterone replacement therapy market share, detailed testosterone replacement therapy market segments, market trends and opportunities, and any further data you may need to thrive in the testosterone replacement therapy industry. This testosterone replacement therapy market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The testosterone replacement therapy market size has grown steadily in recent years. It will grow from $2.01 billion in 2023 to $2.07 billion in 2024 at a compound annual growth rate (CAGR) of 2.9%. The observed growth in the historical period can be attributed to several factors, including the increasing incidence of hypogonadism, higher life expectancy rates, evolving lifestyles, the prevalence of diabetes and metabolic syndrome, preferences among patients for non-invasive therapies, and a rising concern regarding male infertility issues.
The testosterone replacement therapy market size is expected to see steady growth in the next few years. It will grow to $2.26 billion in 2028 at a compound annual growth rate (CAGR) of 2.2%. The projected growth in the forecast period can be linked to various factors, including the adoption of precision medicine approaches, the expanding male wellness market, supportive regulatory measures, the globalization of health services, evolving health and fitness trends, and shifting societal attitudes towards men's health. Key trends expected in this period encompass innovations in delivery systems for treatments, the widespread adoption of telemedicine and remote monitoring solutions, the development of customized treatment plans, a focus on nutritional and lifestyle approaches to health, and increased research on combination therapies tailored for male health and wellness.
The testosterone replacement therapy market is anticipated to experience growth due to the increasing prevalence of testosterone deficiency, also known as hypogonadism. Hypogonadism is characterized by low testosterone levels, where the body is unable to produce an adequate amount of testosterone. Testosterone replacement therapy is employed to elevate testosterone levels within the physiological range, addressing the effects of hypogonadism and alleviating symptoms such as reduced libido, erectile dysfunction, depressed mood, anemia, muscle loss, and more. For instance, a report by Western Michigan Urological Associates in 2022 highlighted that approximately 13 million men in the United States, equivalent to 1 in 4 males over the age of 30, suffer from low testosterone levels. This underscores the growing incidence of testosterone deficiency, contributing to the expansion of the testosterone replacement therapy market.
The growth of the testosterone replacement therapy market is further fueled by the rising geriatric population. The geriatric population comprises older adults, typically aged 65 or older, and testosterone replacement therapy is employed to optimize hormonal balance, enhance well-being, and support functional health in older individuals. As of October 2022, the World Health Organization reported that globally, 1 in 6 individuals would be 60 or older by 2030, with an expected increase to 2.1 billion elderly people by 2050. This demographic shift toward an aging population is a significant factor propelling the growth of the testosterone replacement therapy market.
Product innovation is a significant trend in the testosterone replacement therapy market, with companies focusing on the development of novel products to enhance their market position. One example of such innovation is the introduction of ACE-167 by Acesis BioMed. ACE-167 is a non-steroidal oral peptide therapy designed to treat low testosterone and hypogonadism. Unsuch as anabolic steroids, ACE-167 aims to stimulate the body's cells to naturally produce testosterone, offering an alternative with potentially fewer side effects and reduced abuse potential as compared to traditional testosterone treatments.
There is a growing emphasis on testosterone cypionate injections among major companies in the testosterone replacement therapy market. Testosterone cypionate is a synthetic form of the male sex hormone testosterone and is commonly prescribed as part of testosterone replacement therapy to address conditions associated with testosterone deficiency. In April 2023, Xiromed LLC launched Testosterone Cypionate Injection (USP), providing a new option for males with low testosterone or related conditions such as erectile dysfunction or hypogonadism. This injectable form of testosterone is recognized for its effectiveness in restoring testosterone levels to a healthy range, making it a valuable solution for hormone replacement therapy, especially for individuals experiencing symptoms of testosterone deficiency.
The acquisition of Clarus Therapeutics Inc. by Tolmar Pharmaceuticals Inc. in October 2022 is a strategic move to enhance Tolmar's portfolio in urology and men's health. By acquiring Clarus Therapeutics, Tolmar gains access to JATENZO, a testosterone replacement therapy developed by Clarus Therapeutics. This acquisition allows Tolmar Pharmaceuticals to expand its offerings in the field of testosterone therapy, further solidifying its presence and capabilities in urology and men's health. The specific terms and financial details of the acquisition were not disclosed, but such strategic acquisitions are common in the pharmaceutical industry to strengthen product portfolios and market positions.
Major companies operating in the testosterone replacement therapy market report are AbbVie Inc., Acerus Pharmaceuticals Corporation, Antares Pharma Inc., Bayer Aktiengesellschaft, BioTE Medical LLC, Clarus Therapeutics Inc., Eli Lilly and Company, Endo International plc, Pfizer Inc., Teva Pharmaceutical Industries Limited, Acrux Limited, Actiza Pharmaceutical Inc., Aytu BioPharma Inc., Cipla Limited, Sun Pharmaceutical Industries Limited, The Simple Pharma Company UK Limited, Ferring Pharmaceuticals Holdings S.A., Mylan N.V., Bausch Health Companies Inc., Allergan plc, Addex Therapeutics Ltd., Astraea Therapeutics LLC, Cerecor Inc., Embera NeuroTherapeutics Inc, Hager Biosciences LLC, Heptares Therapeutics Limited, Omeros Corporation, RTI International, Sandoz International GmbH, Perrigo Company plc, Besins Healthcare .
North America was the largest region in the testosterone replacement therapy market in 2023. Asia-Pacific is expected to be the fastest-growing region in the testosterone replacement therapy market report during the forecast period. The regions covered in the testosterone replacement therapy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the testosterone replacement therapy market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The testosterone replacement therapy market includes revenues earned by entities by providing hormone testing, semen analysis, pituitary imaging, genetic studies, and testicular biopsy to treat low testosterone deficiency. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.