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The testosterone replacement therapy market size has the potential to grow by USD 113.54 million during 2020-2024, and the market’s growth momentum will decelerate during the forecast period.
This report provides a detailed analysis of the market by product (injectables, topicals, and others) and geography (Asia, Europe, North America, and ROW). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including AbbVie Inc., Acerus Pharmaceuticals Corp., Antares Pharma Inc., Bayer AG, Clarus Therapeutics Inc., Eli Lilly and Co., Endo International Plc, Ferring Pharmaceuticals AS, Novartis AG, and Pfizer Inc.
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The testosterone replacement therapy market is fragmented. Key vendors hold significant shares in the market. Established vendors have strong financial abilities and technical expertise in offering safer and effective products. The established vendors are deploying a significant share of their capitals in product R&D and are focusing on adopting organic growth strategies such as product launches to bring considerable differentiation in their products and gain higher customer penetration. The small-scale vendors are competing with the established vendors by using low price strategies and strengthening their local customer base. AbbVie Inc., Acerus Pharmaceuticals Corp., and Antares Pharma Inc. are some of the major market participants. Although the high prevalence of testosterone deficiency will offer immense growth opportunities, the adverse effects of testosterone replacement therapy will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
To help clients improve their market position, this testosterone replacement therapy market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this testosterone replacement therapy market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.
This report provides information on the production, sustainability, and prospects of several leading companies, including:
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North America was the largest testosterone replacement therapy market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The increasing cases of hypogonadism and raising awareness about the treatment of testosterone deficiency and erectile dysfunction will significantly drive testosterone replacement therapy market growth in this region over the forecast period.
53% of the market’s growth will originate from North America during the forecast period. The US is a key market for testosterone replacement therapy in North America. However, market growth in this region will be slower than the growth of the market in Asia and Europe.
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The injectables segment is witnessing a steady growth, owing to the availability of patient assistance programs and direct administration benefits. Another major factor associated with the growth of this market is the increase in the prevalence of testosterone deficiency. Major factors associated with the growth of the market also include low cost of treatment and convenience of infrequent dosing.
Market growth in this segment will be faster than the growth of the market in the topicals and other segments. This report provides an accurate prediction of the contribution of all the segments to the growth of the testosterone replacement therapy market size.
The prevalence of testosterone deficiency is increasing significantly across the world. The decrease in the release of testosterone results in the development of hypogonadism in men. The high prevalence of hypogonadism can be attributed to the increasing geriatric population and improved life expectancy. Another factor for the increasing prevalence of hypogonadism is related to the social stigma associated with hypogonadism among young men. Early intervention improves the chances of successful treatments for hypogonadism. The high prevalence of testosterone deficiency will be one of the major factors that will impact the testosterone replacement therapy market during the forecast period.
The rise in novel therapeutic approaches is one of the major testosterone replacement therapy (TRT) market trends that will impact growth in the coming years. The market has witnessed an increase in novel therapeutic approaches for treating lower testosterone deficiency. Researchers have already analyzed the therapeutics effects of Anakinra on testosterone levels of individuals with metabolic syndrome. As per the results, testosterone levels rose by 11% in the treatment group with the use of anti-inflammatory drugs. Such therapies will have a considerable impact on the growth of the testosterone replacement therapy market during the forecast period.
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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.
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