22 February 2021
Visiongain has published a new report on Testosterone Replacement Therapy Market Report 2021-2031: Forecasts By Product (Oral, Parenteral, Implants, Gel/Creams, Patches, Buccal Adhesive, and Others), By Dosage Form (Hypogonadism, Autoimmune Conditions, Genetic Disorders, Sex Organ Surgeries, and Others) By Drug Active Ingredient (Testosterone, Testosterone Cypionate, Testosterone Undecanoate, Testosterone Enanthate, Methyltestosterone, and Others), By Patient Demographics (Adults, Geriatric, and Pediatric), By End User (Hospital, Homecare, Specialty Clinics, and Others), By Distribution Channel (Direct Tender, and Retail Sales), PLUS Profiles of Leading Manufacturing Companies and Regional and Leading National Market Analysis. PLUS COVID-19 Recovery Scenarios.
Global Testosterone Replacement Therapy was valued at US$ xx Million in 2020 and is projected to reach at a market value of US$ xx Million by 2031. North America dominated the global Testosterone Replacement Therapy and is projected to witness CAGR of XX% during the first half of the forecast period i.e. 2021 to 2031.
COVID-19 Impact on Testosterone Replacement Therapy
COVID-19 impact through different recovery models such as V-shaped, U-shaped, W-shaped, and L-shaped; has been taken into consideration while estimating and forecasting the Testosterone Replacement Therapy. Different recovery scenarios are also included in the report for all the segments and regions/nation. The recovery scenarios based on which market has been forecasted and analysed herein the report are mentioned below:
Increasing Prevalence of Testosterone Deficiency
Testosterone deficiency prevalence has increased very rapidly and it is expected that testosterone deficiency prevalence will increase during the forecast period. Increasing testosterone deficiency cases creates a huge demand for the testosterone deficiency treatment. Due to which Increasing prevalence of testosterone deficiency is working as a driver for the testosterone replacement therapy market.
Government initiative and awareness program
Governments and various other International organizations, regulatory authorities, Independent authority, non-profit organizations are launching various awareness programs across the developed & developing countries to increase awareness regarding awareness for testosterone deficiency treatment. Increasing government initiative and awareness programs is expected to increase demand of testosterone replacement therapy and is working as a driver for the testosterone replacement therapy market.
Increasing focus on Healthcare Infrastructure and Advance Healthcare Facility
Healthcare infrastructure in developing nations are undergoing tumultuous changes from the last few years and each change is only for a better healthcare delivery, and to incorporate all the sections of the population. Increasing focus on healthcare infrastructure and advanced healthcare facilities is expected to increase public spending which is expected to create new opportunities for the testosterone replacement therapy market. Due to this reason the factor is creating various opportunities for the testosterone replacement therapy market.
Top companies (AbbVie, Inc., Bayer AG, Endo Pharmaceuticals, Inc., and Eli Lilly and Company) constitute more than XX% share of the global Testosterone Replacement Therapy. Other companies profiled in the report include: Kyowa Kirin International plc, Mylan N.V., Novartis AG, Pfizer, Inc., Clarus Therapeutics and Allergan plc Some of the key developments are listed below:
● In 2019, Lupin has received U.S. FDA approval for testosterone gel 1.62% for the treatment of hypogonadism as replacement therapy for men with. Testosterone gel 1.62% is the generic version AndroGel, 1.62% manufactured by AbbVie. The approval will help the company to expand its market portfolio.
● Teva Pharmaceutical Industries Ltd. has launched AndroGel i (testosterone gel) a generic version. Testosterone Gel 1.62% CIII is used for treatment of primary hypogonadism (congenital or acquired), and hypogonadotropic hypogonadism (congenital or acquired) as a replacement therapy. The approval will help the company to increase its revenue generation.
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