Testosterone Replacement Therapy Market Poised to Achieve Significant Growth in the Years to Come
Testosterone Replacement Therapy (TRT) or low testosterone therapy is commonly called hormone therapy for men, designed to counteract the effects of reduced activity in the gonads or hypogonadism. Hypogonadism in men is clinical syndrome, which results in the failure of the testes to produce physiological levels of testosterone. Hypogonadism may be primary, due to a problem with the testes or secondary due to a problem with the hypothalamus or pituitary gland or combined: primary and secondary. Primary hypogonadism is caused due to genetic abnormalities, testicular trauma, orchitis, radiation treatment or chemotherapy, while secondary hypogonadism is caused due to genetic abnormalities of pituitary and hypothalamus.
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Testosterone Replacement Therapy Market – Drivers
Hypogonadism in men is primarily characterized by reduced concentration of serum testosterone, causing decreased libido, erectile dysfunction, loss of body and facial hair, decreased bone density, weakness, decreased lean body mass, increased body fat, fatigue and anemia. Hypogonadism in adult men is often overlooked; even in the presence of associated symptoms, because the hypogonadism men often ignore the symptoms or they attribute them with alternate cause such as ageing.
Increasing prevalence of hypogonadism in adult men worldwide is expected to drive growth of the testosterone replacement therapy market. According to the European Association of Urology: 2016 report, in middle-aged men, the incidence of hypogonadism varies from 2.1% to 12.8%. The incidence of low testosterone and symptoms of hypogonadism in men aged 40-79 varies form 2.1% to 5.7%, in Europe. Hypogonadism is more prevalent in older men, in men with obesity, those with co-morbidities, and in men with a poor health status. Furthermore, according to the Therapeutics Advances of Urology Journal: 2016, testosterone has become one of the most widely prescribed medications in the U.S. in 2011. These increase resulted in significant growth of testosterone replacement therapy, from US$ 18 million in the 1980 to US$ 1.6 billion in 2011, resulting in five-fold increase.
Testosterone Replacement Therapy Market – Restraints
Stringent regulations proposed by the U.S. Food and Drug Administration (FDA), regarding the application of testosterone products, owing to increased risk of adverse cardiovascular events is expected to hamper the growth of the testosterone replacement therapy market, in near future. The U.S. FDA in February 2018 updated policies, stated that testosterone replacement product manufactures requires to change the labelling to inform the patients about possible increased risk of heart attack and stroke.
Testosterone Replacement Therapy Market – Regional Analysis
Geographically, global testosterone replacement therapy market is segmented into North America, Latin America, Europe, Middle East, Asia Pacific, and Africa. North America holds major share in the testosterone replacement therapy market, owing to increasing number of people suffering from hypogonadism, combined with rising adoption of testosterone products in the U.S. market. According to the data published in European Association of Urology Journal: 2017, testosterone prescription trends in the U.S. demonstrated an increase between 1.8-and 4-fold over the last two decades (1997 – 2017). Moreover, from 2000 to 2011, there was a 4.3-fold increase in testosterone testing compared to a 3.7-fold increase in prescriptions.
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Testosterone Replacement Therapy Market – Competitor
Some of the key players operating in the testosterone replacement therapy market include AbbVie, Inc., Bayer AG, Endo Pharmaceuticals, Inc., Eli Lilly and Company, Kyowa Kirin International plc, Pfizer, Inc., Acerus Pharmaceuticals Corporation, and Perrigo Company plc.