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Testosterone Replacement Therapy (TRT) Market to Face Lean Patch until 2024 as it Inches Close to Patent Cliff, says TMR

Press Release   •   Oct 07, 2016 06:43 EDT

Globally, the occurrence of cardiovascular disease is greater in men than in women. Men are twice likely to develop heart related diseases than women. Considering the many evidences collected from various researches, experts have led to the conclusion that testosterone applies a detrimental influence on the cardiovascular system. Today, testosterone is not a hormone that is limited to sexual/reproductive medicine but it has become a multi-system hormone that carries a wider range of actions. Research has proved that testosterone might have the capacity to protect against diabetes and heart related deaths.

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Many testosterone replacement therapy products are being made available by key companies operating in the global testosterone replacement therapy market. Transparency Market Research (TMR) states that the top five companies operating in the global market constitute 80% of the market. AbbVie, Inc. led the highly competitive global market in 2015 with its TRT product, AndroGel. Bayer AG, Endo Pharmaceuticals, Inc., Allergan plc., and Eli Lilly and Company are the other key companies displaying a promising growth in the global market.

TMR answers a few questions that might be asked by companies operating in the global testosterone replacement therapy market:

Q. What are the primary factors driving and restricting the growth of the global market?

The rising incidence of testosterone deficiency can be credited to be the primary factor boosting the global testosterone replacement therapy market. Apart from this, the market is expected to be benefited by the rise in the aging population and the rising awareness of new testosterone replacement therapies.

Although the market is progressing at a rapid pace, it is predicted to be affected by many factors. Patent expiry of drugs and the entry of generics will affect the growth of the global market in the near future. The risk of side effects of testosterone replacement therapies will also hamper the growth of the global market.

Q. Which product segment leads the global market?

By product, the global testosterone replacement therapy market is classified into patches, creams/gels, gums/buccal adhesives, injections, oral drug forms, and implants. Among all these, currently the global market is dominated by the creams/gels segment. Less side effects and ease of use have been the key factors boosting the demand for creams/gels in the global market.

Q. Will rising demand for testosterone replacement therapy in North America benefit global market?

Yes, the rising demand for testosterone replacement therapy products in North America will benefit the global market.

By region, the global testosterone replacement therapy market is divided into the Middle East and Africa, Asia Pacific, Europe, Latin America, and Europe. In 2015, North America accounted for 84.7% of the global market. The demand for advanced testosterone replacement therapy products is expected to increase in North America. This is predicted to benefit the global market in the years to come. Key companies operating in North America are focusing on investing more in research and development activities for discovering and launching new testosterone replacement therapy products.

New product launches by key companies is anticipated to benefit the global market in many ways. Awareness programs are also helping key companies to make people aware of the new testosterone replacement therapy.

Bayer AG encouraged people to become aware of new testosterone replacement therapy through various awareness programs conducted in Indonesia and other nations.

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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.