The Testosterone Replacement Therapy by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Testosterone Replacement Therapy , The testosterone replacement therapy market size has grown steadily in recent years. It will grow from $2.01 billion in 2023 to $2.07 billion in 2024 at a compound annual growth rate (CAGR) of 2.9%. The growth in the historic period can be attributed to rising incidence of hypogonadism, increased life expectancy, changing lifestyles, prevalence of diabetes and metabolic syndrome, patient preference for non-invasive therapies, growing male infertility concerns.
The testosterone replacement therapy market size is expected to see steady growth in the next few years. It will grow to $2.26 billion in 2028 at a compound annual growth rate (CAGR) of 2.2%. The growth in the forecast period can be attributed to precision medicine approaches, increasing male wellness market, regulatory support, globalization of health services, health and fitness trends, changing societal attitudes. Major trends in the forecast period include innovations in delivery systems, telemedicine and remote monitoring, customized treatment plans, nutritional and lifestyle approaches, research on combination therapies.
The rising testosterone deficiency is expected to drive the growth of the testosterone replacement therapy market. Testosterone deficiency also refers to hypogonadism, the condition of having low testosterone and a body is unable to make enough testosterone. Testosterone replacement therapy is used to raise the body’s testosterone levels in the physiological range reverse the effects of hypogonadism and treats symptoms such as reduced libido, erectile dysfunction, depressed mood, anemia, loss of muscle, and others. For instance, according to Western Michigan Urological Associate’s report in 2022, a US-based association that specializes in urology, approximately 13 million men in the United States suffer from low testosterone levels, which equals 1 in 4 males over the age of 30. Therefore, the rise in testosterone deficiency is driving the growth of the testosterone replacement therapy market.
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The Testosterone Replacement Therapy Market Covered In This Report Is Segmented –
1) By Product Type: Oral, Implants, Gel Or Creams, Patches, Buccal Adhesive, Parenteral, Other Products
2) By Indication: Hypogonadism, Autoimmune Conditions, Genetic Disorders, Sex Organ Surgeries, Other Indications
3) By Active Ingredient Type: Testosterone, Methyl Testosterone, Testosterone Undecanoate, Testosterone Enanthate, Testosterone Cypionate
4) By End User: Hospitals, Clinics, Other End-User
Product Innovation has emerged as the key trend gaining popularity in the testosterone replacement therapy market. Major companies operating in the testosterone replacement therapy market are developing innovative products to strengthen their position in the market. For instance, in December 2021, Acesis BioMed, a US-based biomedical company, introduced ACE-167, a non-steroidal oral peptide therapy to treat low testosterone and hypogonadism. ACE-167 is peptide therapy to treat low testosterone and hypogonadism by directing the body’s cells to naturally create testosterone as a contrast to anabolic steroids that have serious side-effects and a high potential for abuse as performance-enhancing drugs in testosterone treatment.
The Testosterone Replacement Therapy Market Report Table Of Contents Includes:
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