Global Testosterone Replacement Therapy Market Is Anticipated To Witness High Growth Owing To Growing Awareness Regarding Hypogonadism And Rising Demand For Testosterone Replacement Therapy

 

Overview:

Testosterone replacement therapy is a medical treatment that is used to treat men who have low testosterone levels. The goal is to restore serum testosterone levels to a mid-normal physiological range. This therapy can be administered in a number of ways. Among the methods are transdermal patches, gels, injections, and pellets. Some of the most common symptoms include low libido, sexual dysfunction, increased body fat, decreased muscle mass, and reduced motivation. A transdermal patch is applied to the back at night. These patches are non-invasive and easy to use. They contain permeation enhancers that increase absorption. Another option is a nasal gel formulation. This formulation uses a metered dose pump applicator. Each pump delivers 5.5 mg of testosterone. Testosterone replacement therapy has been approved by the United States Food and Drug Administration. However, it has not been proven to prevent prostate cancer or heart disease.

Market Dynamics:

Increasing product approvals is estimated to augment the growth of the global Testosterone Replacement Therapy Market during the forecast period. For instance, Marius Pharmaceuticals gained approval for KYZATREX from the United States Food and Drug Administration in August 2022. KYZATREX is an oral testosterone replacement therapy for conditions related to deficiency or the absence of endogenous testosterone. Moreover, increasingly strict regulations is anticipated to restrain the growth of the global testosterone replacement therapy market during the forecast period.

Impact of COVID-19:

COVID-19 was announced as a public health emergency in 2020 by the World Health Organization.  The pandemic affected almost every business, and the healthcare sector. It had serious long-term effects on the economy of several nations. The healthcare sector was facing immense challenges during the pandemic. As the number of COVID-19 cases were increasing, there was a shortage of medical supplies, drugs, medical equipment and skilled healthcare professionals. Many hospitals were already running on full capacity so only serious patents were hospitalized, others were monitored remotely. Doctors were prioritizing COVID-19 patients over other treatment and diagnosis. This resulted in delay of other treatments. This restrained the growth of the global testosterone replacement therapy market.

 Key Takeaways:

The global testosterone replacement therapy market is expected to witness high growth, exhibiting CAGR of XX% over the forecast period, due to growing partnerships among major players. For instance, I-MAB Biopharma Co., Ltd. and Jumpcan Pharmaceutical Group entered in a collaboration in 2021, for developing and commercialization of eftansomatropin alfa in China.

North America is anticipated to witness significant growth in the global testosterone replacement therapy market over the forecast period, owing to rising product launches and approvals.

Major players operating in the global testosterone replacement therapy market are Viatris Inc., AbbVie Inc., Upsher Smith Laboratories LLC, Acerus Pharmaceuticals Corp., The Simple Pharma Co. UK Ltd., Acrux Ltd., Teva Pharmaceutical Industries Ltd., Antares Pharma Inc., Sun Pharmaceutical Industries Ltd., Bausch Health Co. Inc., Pfizer Inc., Bayer AG, Aytu BioPharma Inc., Novartis AG, Cipla Ltd., Endo International Plc, Clarus Therapeutics Inc., and Eli Lilly and Co.