Testosterone Replacement Therapy Global Market 2024 To Reach $2.26 Billion By 2028 At Rate Of 2.2%
The Business Research Company’s Testosterone Replacement Therapy Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
LANDON, GREATER LANDON, UK, September 3, 2024 /EINPresswire.com/ — The testosterone replacement therapy market has experienced robust growth in recent years, expanding 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.
What Is the Estimated Market Size of The Global Testosterone Replacement Therapy Market and Its Annual Growth Rate?
The testosterone replacement therapy market is projected to grow strongly, reaching $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.
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Growth Driver of The Testosterone Replacement Therapy Market
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.
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Which Market Players Are Driving the Testosterone Replacement Therapy Test Market Growth?
Key players in the testosterone replacement therapy market include AbbVie Inc., Acerus Pharmaceuticals Corporation, Antares Pharma Inc., Bayer Aktiengesellschaft, BioTE Medical LLC, Clarus Therapeutics Inc.
What Are the Dominant Trends in Testosterone Replacement Therapy Market Size and Growth?
Major companies operating in the testosterone replacement therapy market are increasing their focus on introducing testosterone cypionate injections to gain a competitive edge in the market. Testosterone Cypionate Injection (USP) is a medication that contains testosterone cypionate, which is a synthetic form of the naturally occurring male sex hormone testosterone. This injection is frequently prescribed as a part of testosterone replacement therapy to address conditions related to testosterone deficiency in individuals.
How Is the Global Testosterone Replacement Therapy Market 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
Geographical Insights: North America Leading the Testosterone Replacement Therapy Market
North America was the largest region in the testosterone replacement therapy market in 2023. Asia-Pacific is expected to be the fastest-growing region in the testosterone replacement therapy market report during the forecast period. The regions covered in the testosterone replacement therapy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Testosterone Replacement Therapy Market Definition
Testosterone replacement therapy refers to hormonal therapy that is used to treat low testosterone (T) levels in males, which can occur with age or as a result of a medical condition.
Testosterone Replacement Therapy Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
•Macroeconomic factors affecting the market in the short and long run
•Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global testosterone replacement therapy market report covering trends, opportunities, strategies, and more
The Testosterone Replacement Therapy Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on testosterone replacement therapy market size, testosterone replacement therapy market drivers and trends, testosterone replacement therapy market major players, testosterone replacement therapy competitors’ revenues, testosterone replacement therapy market positioning, and testosterone replacement therapy market growth across geographies. The testosterone replacement therapy market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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