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The testosterone replacement therapy (TRT) market size is estimated to grow at a CAGR of 3.38% between 2022 and 2027. The testosterone replacement therapy market size is forecast to increase by USD 439.67 million. The growth of the market depends on several factors, including initiatives to increase awareness about hypogonadism among the population, rising chronic diseases, and the increasing aging population and postmenopausal women.
This testosterone replacement therapy market report extensively covers market segmentation by distribution channel (hospitals, retail, and online), product (injectables, topicals, and others), and geography (North America, Europe, Asia, and rest of world). It also includes an in-depth analysis of drivers, trends, and challenges.
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The initiatives to increase awareness about hypogonadism among the population are notably driving the market growth, although factors such as the availability of generics may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The initiatives to increase awareness about hypogonadism among the population are notably driving market growth. Various organizations are working on campaigns to raise patient awareness on hypogonadism and available treatment options on a global scale. For instance, organizations like Auxilium Pharmaceuticals launched a campaign to raise awareness on low testosterone. AUA, Endocrine Awareness Center for Health, and Testicular Cancer Awareness Foundation are among those organizations that are actively educating the public about the identification and management of hypogonadism. Additionally, groups like the Endocrine Society launched campaigns to raise medical professionals' awareness on hypogonadism. They published clinical practice recommendations for testosterone therapy, which aids in safer delivery and reduction of adverse events.
The demand for testosterone replacement therapy products, such as topical products, injectables, and oral capsules, is increasing globally as a result of increased awareness of treatment options among the general public, which has led to a significant number of people proactively approaching fertility care facilities and medical professionals to begin testosterone replacement therapy. Hence, such factors will drive the growth of the global testosterone replacement therapy (TRT) market during the forecast period.
The rise in novel therapeutic approaches is an emerging trend in the market. Novel therapeutic methods to treat low testosterone deficiency have become more prevalent in the market. A lack of testosterone can result from metabolic syndrome. Anti-inflammatory medications, which are also used to treat low testosterone, are used to treat metabolic syndrome. For instance, Dr. Fahim Ebrahimi presented the findings of a recent study that examined the therapeutic effects of Anakinra on the testosterone levels of people with metabolic syndrome at the annual meeting of the Endocrine Society. The testosterone levels in the treatment group increased by 11%, according to the findings. This study was the first to show that testosterone balance can be restored using anti-inflammatory medications. The emergence of these cutting-edge therapeutic strategies is causing frequent market changes.
Vendors are working intensively to develop alternative treatment options that can guarantee safe use during testosterone replacement therapies rather than administering testosterone directly to patients. The entry of new products into the global market for testosterone replacement therapy is anticipated to help drive market growth as a result of vendors' increasing attention to these therapeutic approaches. Thus, such factors are expected to boost the growth of the global testosterone replacement therapy (TRT) market during the forecast period.
The availability of generics is a major challenge impeding market growth. The introduction of generic medications has prevented the global market for testosterone replacement therapy from growing in terms of revenue. For instance, the FDA has approved the testosterone gel, 1.62%, a generic version of AndroGel made by Lupin Pharmaceuticals. There is also a commercially available generic version of AndroGel made by Teva Pharmaceutical Industries. In recent years, AndroGel sales have decreased. The market share of Teva Pharmaceutical Industries decreased as a result of the decline in AndroGel sales, which had an effect on the company's ability to generate revenue.
Furthermore, another key factor contributing to the market's decline is the low price of generic drugs. Generic testosterone injections are available for USD 20 per dose. Thus, the availability of generics in the market will hinder the growth of the global testosterone replacement therapy (TRT) market during the forecast period.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Testosterone Replacement Therapy Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Acrux Ltd. - The company is engaged in developing and commercializing a pipeline of topically applied pharmaceutical products. The key offerings of the company include testosterone replacement therapy such as testosterone topical solution.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the hospital segment will be significant during the forecast period. Based on the distribution channel, the hospital segment had the largest market share in 2022, and it will continue to lead the market during the forecast period. Pharmaceuticals used for either outpatient or inpatient treatment are included in the hospital segment. These pharmaceuticals are purchased directly by hospitals from various pharmaceutical companies. Hospital pharmacies stock the injectables, topicals, and medications used in testosterone replacement therapy. The major goal of hospital pharmacies is to buy, store, and provide patients with medications.
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The hospital segment was valued at USD 1,148.09 million in 2017 and continued to grow until 2021. Hospital pharmaceuticals are administered to individuals during the hospital-enabled treatment period. They may offer guidance on drug dosages, interactions, and potential side effects in addition to keeping track of patients' compliance with prescribed medication schedules. This may contribute to better patient outcomes. Furthermore, hospital pharmacies also play a significant part in clinical trials. They frequently assist in the preparation and distribution of the drugs used in clinical trials, which are carried out to evaluate the efficacy and safety of novel medications. By participating in clinical trials, hospital pharmacies contribute to the development of new drugs. Hence, all such factors will boost the market segment growth during the forecast period.
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North America is estimated to contribute 57% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
North America is a dominating region in the global testosterone replacement therapy (TRT) market, with the US and Canada being the leading revenue-generating countries. The region's easy access to new and improved products is ensured by the presence of key players. Additionally, the rise in hypogonadism cases and public awareness on the treatment for erectile dysfunction and testosterone deficiency are encouraging the growth of testosterone replacement therapies. Infertility affects 10% of males in the US. One of their main causes is testosterone deficiency owing to hypogonadism. Patients receiving testosterone replacement therapies are growing in number in the region as more people are coming forward to seek treatment. This is expected to propel the growth of the regional market during the forecast period.
Additionally, groups like the American Urological Association (AUA) and the Testicular Cancer Awareness Foundation are working to raise awareness on male hypogonadism treatments. For instance, the AUA has taken the initiative to give clinicians the necessary direction to assess and treat people with low testosterone levels. The AUA's guidelines give clinicians information on how to properly diagnose people who lack testosterone and how to administer testosterone therapy safely and efficiently. The recommendations also include information on how to treat people with prostate cancer or cardiovascular diseases. Therefore, such initiatives to increase awareness about testosterone deficiency will drive the market in North America during the forecast period.
Moreover, during the forecast period, the regional market is anticipated to be driven by the rising acceptance of new medications that treat testosterone deficiency. The US FDA recently approved several testosterone replacement therapies. Additionally, a number of products are in various stages of development in US-based companies. Rising investments in product R&D are anticipated to increase the availability of treatment options for testosterone replacement therapy, fueling the expansion of the market in the region during the forecast period.
The COVID-19 outbreak in 2020 hampered the growth of the regional testosterone replacement therapy (TRT) market. However, in 2021, due to the availability of COVID-19 vaccines, the number of COVID-19 cases in the region declined. Thus, the demand for testosterone replacement therapy rebounded owing to the ease of COVID-19-related restrictions and with access to hospitals and clinics being restored. Moreover, the region is witnessing growing approval of new drugs that treat testosterone deficiency. Thus, owing to these factors, the regional market is expected to witness growth during the forecast period.
The testosterone replacement therapy market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Technavio categorizes the global testosterone replacement therapy market as a part of the global pharmaceuticals market within the overall healthcare industry. The parent global pharmaceuticals market covers products and companies engaged in R&D or the production of generic drugs, non-generic drugs, and veterinary drugs. Our market research report has extensively covered external factors influencing the parent market growth during the forecast period.
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Testosterone Replacement Therapy Market Scope |
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Report Coverage |
Details |
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Page number |
166 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 3.38% |
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Market growth 2023-2027 |
USD 439.67 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
2.79 |
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Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
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Performing market contribution |
North America at 57% |
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Key countries |
US, Canada, Germany, UK, and China |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
AbbVie Inc., Acerus Pharmaceuticals Corp., Acrux Ltd., Actiza Pharmaceutical Pvt. Ltd., Alembic Pharmaceuticals Ltd., Alvogen Iceland ehf, Amneal Pharmaceuticals Inc., Antares Pharma Inc., Bausch Health Co. Inc., Bayer AG, Cipla Ltd., Eli Lilly and Co., Endo International Plc, Ferring BV, Halozyme Therapeutics Inc., Insud Pharma S.L, Lupin Ltd., Marius Pharmaceuticals, Pfizer Inc., Sawai Pharmaceutical Co. Ltd., and Teva Pharmaceutical Industries Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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