The Global Market for Testosterone Replacement Therapy (TRT) is Projected to Reach US$3.4 Billion by 2022

Aging Male Population & The Ensuing Increase in Prevalence of Hypogonadism to Drive Demand for Testosterone Replacement Therapy, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market size, share and demand forecasts on the global Testosterone Replacement Therapy (TRT) market. The global market for Testosterone Replacement Therapy (TRT) is projected to reach US$3.4 billion by 2022, driven by growing prevalence of hypogonadism supported by aging male population, rising awareness over the disease and therapies, improved diagnosis rates, and expected approval of new generation drugs in the pipeline.

Testosterone Replacement Therapy (TRT) is a key option for the treatment of hypogonadism, an endocrinological syndrome in men typified by lack of or less production of testosterone hormone than normal, leading to various conditions such as reduced libido, low energy, erectile dysfunction, decreased bone sensitivity and reduced muscle mass among others. Testosterone Replacement Therapy entails administration of exogenous testosterone through various approved routes/product types including topicals, gels, patches, oral medications and intramuscular injections among others. While the market for these products has been in existence for several decades, demand surged since the turn of the century with the introduction of topical gels. The market witnessed significant growth over the years due to growing adoption of these and other products, rising awareness and aggressive marketing efforts from the manufacturers. However, patent expirations, price competition among existing players, growing concerns over side effects of drug use, increasing stringency from regulatory authorities, changes in product labeling and delay in launch of new and products have led to declines in revenues in recent years. Mounting evidence from research studies, continuing lawsuits and statutory warnings have diminished popularity of TRT in the US, affecting sales.   

Future outlook, however, appears brighter for the market. Rapidly aging population, rising prevalence of hypogonadism, increasing awareness of hypogonadism and TRT, strong growth in emerging markets, rising preference for easy to use products, emergence of new drugs are some of the factors expected infuse recovery in the market going forwards. Although drugs have been available for several years, treatment levels remain lower, even in the developed markets, providing ample room for growth going forwards as awareness of disease and therapies increases. Introduction of easy-to-use formulations, such as native oral and spray-on testosterone formulations and expected increase in adoption of other alternatives such as intra-nasal gels are expected to induce positive momentum in the market through the fag end of the analysis period. Increasing opportunities from non-American and European markets are expected provide new avenues for growth for TRT manufacturers. Topicals such as testosterone patches, injectables and oral testosterone formulations dominate the market. Convenience and ease of administration and better efficacy make oral drugs the largest product market.

As stated by the new market research report on Testosterone Replacement Therapy (TRT), the United States represents the largest market worldwide supported by higher awareness, launch and availability of several TRT products, Direct-to-Customer advertising from manufacturers, favorable reimbursements, insurance coverage and ability to afford expensive medications. Asia-Pacific ranks as the fastest growing market with a CAGR of 19.8% through the analysis period led by factors such as growing focus on men’s health; epidemic spread of diabetes and the resulting development of low testosterone syndrome; and improving healthcare facilities and improving availability of therapies.  

Major players in the market include AbbVie, Inc., Acerus Pharmaceuticals Corporation, Acrux Limited, Antares Pharma, Inc., Bayer HealthCare Pharmaceuticals, Eli Lilly and Company, Endo Pharmaceuticals Inc. and Kyowa Kirin among others.

The research report titled “Testosterone Replacement Therapy (TRT): A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies. The report provides market estimates and projections for Testosterone Replacement Therapy (TRT) in value terms for all major geographic markets such as United States, Canada, Europe (France, Germany, Italy, UK, Spain and Rest of Europe), Asia-Pacific, Latin America and Rest of World. Product types analyzed include Topicals, Patches and Others.

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