Testosterone Replacement Therapy Market to Reach $2.9 billion Globally, by 2032 at 4.2% CAGR: Allied Market Research

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Mar 21, 2024, 04:21 ET

Surge in prevalence of hypogonadism and insurance coverage for testosterone replacement therapy are expected to drive the growth of the testosterone replacement therapy market.

PORTLAND, Ore., March 21, 2024 /PRNewswire/ -- Allied Market Research published a report, titled, "Testosterone Replacement Therapy Market by Product Type (Injectables, Topical, and Other), Active Ingredient (Testosterone Cypionate, Testosterone, Testosterone Enanthate, Testosterone Undecanoate, and Others), and End User (Hospitals and Clinics): Global Opportunity Analysis and Industry Forecast, 2023–2032". According to the report, the testosterone replacement therapy market was valued at $ 1.9 billion in 2022 and is estimated to reach $ 2.9 billion by 2032, exhibiting a CAGR of 4.2% from 2023 to 2032.

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Prime determinants of growth

The market for testosterone replacement therapy is anticipated to experience substantial growth due to an increased prevalence of hypogonadism, heightened awareness regarding men's health and overall well-being, and surge in geriatric population.

Report coverage and details

Report Coverage	Details
Forecast Period	2023–2032
Base Year	2022
Market Size In 2022	$1.9 Billion
Market Size In 2032	$2.9 Billion
CAGR	4.20 %
No. Of Pages In Report	270
Segments Covered	Product Type, Active Ingredient, And End User
Drivers	Surge In Prevalence of Hypogonadism.
	Rise In Geriatric Population
	Insurance Coverage Available on The Testosterone Replacement Therapy
Opportunities	Technological Advancement in The Testosterone Replacement Therapy
Restraints	Side Effects Associated with The Testosterone Replacement Therapy.

2023 Recession Impact Analysis

The 2023 recession had moderate impacted the testosterone replacement therapy.
The economic uncertainty has led to the decreased disposable income, which has negatively impacted the testosterone replacement therapy

However, the market is expected to recover owing to rise in geriatric population and surge in prevalence of hypogonadism.

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The injectables segment to maintain its leadership status throughout the forecast period

By product type, the injectables segment held the largest share in 2022, accounting for almost three-fourths of the testosterone replacement therapy revenue. This is attributed to the high adoption of injections owing to cost effectivity and high efficiency of the testosterone injections. However, other segment is expected to register fastest growth owing to increasing adoption of the prolong release implants.

The testosterone cypionate segment to maintain its lead position during the forecast period

By active ingredient, the testosterone cypionate segment held the largest share in 2022, accounting for more than one-third of the testosterone replacement therapy revenue. This growth is attributed the high adoption of testosterone cypionate. However, testosterone undecanoate segment is expected to register highest CAGR during the forecast period, owing to availability of testosterone undecanoate in topical and injectable formulation.

The clinics segment to maintain its lead position during the forecast period

By end user, the clinics segment accounted for the largest share in 2022, accounting for more than two-thirds of the testosterone replacement therapy revenue. This is attributed to the fact that specialty clinics such as urology clinics cater large male patient base suffering from hypogonadism.

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The North America to maintain its lead position during the forecast period

Region wise, the North America accounted for the largest share in 2022, accounting for nearly half of the testosterone replacement therapy revenue owing to well-established healthcare infrastructure and rise in geriatric population. However, Asia-Pacific segment is expected to register highest CAGR during the forecast period owing to surge in incidence of hypogonadism and rise in prevalence of obesity.

Leading Market Players

AbbVie Inc
Besins Healthcare SA
Acerus Pharmaceuticals Corporation
Amneal Pharmaceuticals Inc.
Acrux Ltd.
Endo International Plc
Biote Medical, LLC
Pfizer Inc.
Insud Pharma S.L
Marius Pharmaceuticals

The report provides a detailed analysis of these key players of the testosterone replacement therapy. These players have adopted strategies such as acquisition to increase their market. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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