Testosterone Replacement Therapy: Key market research findings
- High incidence of testosterone deficiency
- Entry of SARMs
- Leading market players include AbbVie, Allergan, Eli Lilly, and Endo
Technavio has released a new report on the global testosterone replacement therapy market, which will genberate revenues of more than $2 billion over the predicted period. Topical drugs dominate the global testosterone replacement therapy market when compared to oral and injectable formulations. The increased awareness among the general public about endocrine disorders and the latest medical advancements and treatment options available will aid to the growth of this market during the forecast period. Several organizations such as the Testicular Cancer Awareness Foundation are also helping individuals in the early detection and treatment of the diseases, which may occur due to decreased testosterone levels in the body. The Americas dominated the market during 2015, with the US being the largest revenue-contributing country in the region. Much of the nation’s growth can be attributed to the increased prevalence of hypogonadism and rising incidence of low testosterone levels.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“The emergence of selective androgen receptor modulators (SARMs) in the market is anticipated to gain huge popularity as it will serve as a better treatment alternative for androgen deficiencies. These drugs are available as orally active formulations and target androgen receptors specifically, thereby producing the desired response in the body. For instance, older hypogonadic men with osteopenia or osteoporosis can be treated using the SARM drug, which specifically acts on bone and muscle with less activity on the prostate or other sex accessory tissues,” says Barath Palada, Lead Analyst, Pharma, Technavio Research
During 2015, the gels segment accounted for the largest share of the testosterone replacement therapy market with approximately 66% market share. Gels are available in a semi-solid form and contain an active ingredient, which can be applied locally for maximum efficacy. Since these gels can be applied easily and removed by washing off, their demand during the forecast period will increase rapidly. Some of the testosterone gels available in the market are Testogel, AndroGel, Testim, and Tostran.
The key players in the global testosterone replacement therapy market include AbbVie, Allergan, Eli Lilly, and Endo. This market is highly competitive due to the presence of several large and small suppliers. However, occasional spurts of competition have been offered by local manufacturers in different countries. New players are also entering the market due to the availability of numerous growth opportunities. Vendors are also forming strategic alliances to manufacture and market drugs.
A more detailed analysis is available in the Technavio report, Global Testosterone Replacement Therapy Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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