In this report, Technavio covers the market outlook and growth prospects of the global testosterone replacement therapy market for 2016-2020. In order to calculate the market size, the report considers the revenue generated from the sales of branded and generic drugs that treat and prevent hypogonadism. The report also considers the revenues to be generated from the sales of drugs that are expected to be launched into the market during the forecast period along with the decline in revenue from the genericization of marketed drugs during the forecast period.
“Promotional activities by vendors such as AbbVie and Eli Lilly led to the increase in the sales of the drugs Axiron and AndroGel by at least 10%. However, the therapy is associated with risks such as development of cardiovascular disease conditions. The FDA has issued a warning regarding the use of these drugs and also made it mandatory for vendors to mention the risks associated with the use of these drugs on the labels. This has led to the decline in the sales of these drugs which has, in turn, led to the overall decline in the growth of the global testosterone replacement therapy market,” says Barath Palada, a lead expert from Technavio for men’s health and genitourinary research.
Technavio’s research study segments the global testosterone replacement therapy market into the following regions:
In 2015, with a market share of close to 79%, Americas dominated the global testosterone replacement therapy market, followed by EMEA with around 14% and APAC with approximately 7%.
Americas: largest market for testosterone replacement therapy
The testosterone replacement therapy market in the Americas is declining at a substantial CAGR of close to 15% to drop from USD 2 billion to USD 0.9 billion by 2020. However, despite the decline, Americas will remain the major market for testosterone replacement therapy during the forecast period. The high per capita income along with the availability of well-developed research facilities contribute to the high market share of this region. The prevalence of the disease because of the rising incidence of low testosterone levels is also high in this region.
Also, the prevalence of chronic conditions such as diabetes, leading to the development of hypogonadism is also on the rise. According to the American Diabetes Association, in 2014, approximately 27% of the US citizens aged 65 years and above had diabetes.
“However, the market is continuing to decline in the Americas due to FDA warnings regarding the use of testosterone drugs. Apart from this, patent expiries of the drugs obstruct market growth in this region,” says Barath.
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EMEA: market growing at a CAGR of over 15%
The testosterone replacement therapy market in EMEA was valued at USD 370 million in 2015 and is expected to exceed USD 745 million by 2020, growing at a CAGR of over 15%. Western Europe, including France, Germany, Italy, Spain, and the UK, contributed significantly to the overall growth of the market in 2015.
In this region, the testosterone replacement therapy market continues to grow as the European Medicines Agency (EMA) has not issued any warnings like the FDA regarding the risk of heart issues in individuals using testosterone drugs. It has just clearly stated that individuals should be tested for hormone levels before starting therapy. Though there is market growth in this region, it is comparatively lower than the growth in APAC.
APAC: fastest growing market for testosterone replacement therapy
The testosterone replacement therapy market in APAC was valued at USD 170 million in 2015 and is expected to reach USD 510 million by 2020, growing at a CAGR of over 24%. APAC remains the fastest growing market due to the growing awareness about the disease along with the rise in healthcare spending in this region.
The top vendors in the global testosterone replacement therapy market highlighted in the report are:
- Eli Lilly
- Endo International
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