SEATTLE, April 21, 2020 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global androgen replacement therapy market is estimated to be valued at US$ 1,736.9 million in 2020 and is expected to exhibit a CAGR of 3.7% during the forecast period (2020-2027).
Key Trends and Analysis of the Global Androgen replacement therapy Market:
The global androgen replacement therapy market is expected to witness significant growth owing to product launches by market players. For instance, in September 2018, Swiss drug maker, Ferring Pharmaceuticals, announced the launch of Testavan (transdermal testosterone gel) for the treatment of adult male hypogonadism. Testavan is a new testosterone replacement therapy designed to restore testosterone levels to a normal range (300–1050 ng/dL) in adult males with hypogonadism.
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Key players in this market are engaged in obtaining regulatory approvals for their products to maintain a competitive position in the market. For instance, in March 2017, the U.S. FDA approved Abbreviated New Drug Application (ANDA) of Perrigo Company plc. For the generic version of Eli Lilly and Company's Axiron topical solution, 30 mg/1.5 mL (testosterone topical solution, 30 mg/1.5 mL). Axiron Topical Solution, 30 mg/1.5 mL is indicated to treat adult males who have low or no testosterone due to certain medical conditions.
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 androgen replacement therapy market in the near future. In February 2018, the U.S. FDA updated its policies which stated that manufacturers of testosterone replacement products need to change the labelling to inform patients about possible side effects such as increased risk of heart attack and stroke.
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Key Market Takeaways:
- The global androgen replacement therapy market is expected to exhibit a CAGR of 3.7% during the forecast period (2020-2027) owing to various product launches in the market. For example, Endo International Inc. is engaged in launching novel and innovative products in this market. For instance, in March 2015, Endo Pharmaceuticals Inc., a subsidiary of Endo International plc, launched NATESTO (testosterone nasal gel), the first and only nasal gel for testosterone replacement in adult males diagnosed with hypogonadism.
- Asia Pacific is expected to witness high demand for androgen replacement therapy owing to high prevalence of hypogonadism in men with type II diabetes mellitus, combined with the growing prevalence of diabetes population in this region. For instance, according to International Diabetes Federation (IDF) Diabetes Atlas: 2017, the number of people with diabetes in the age group of 20 to 79 years in South East Asia and Western Pacific in 2017 was 82 million and 159 million, respectively.
Key players operating in the global androgen replacement therapy market are—
AbbVie, Inc., Allergan Plc, Bayer AG, Endo Pharmaceuticals, Inc., Eli Lilly and Company, Kyowa Kirin International Plc, Mylan N.V., Novartis International AG, Pfizer, Inc., Clarus Therapeutics, Ferring Holding SA, Perrigo Company Plc, Acerus Pharmaceuticals Corporation, Upsher-Smith Laboratories, LLC, Dr. Reddy's Laboratories, Bausch Health Companies Inc., Sun Pharmaceutical Industries Ltd., and Par Pharmaceutical.
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Market Segmentation:
- Global Androgen Replacement Therapy Market, By Product Type:
- Creams/Gels
- Patches
- Injections
- Implants
- Orals Tablets/Capsules/Gums
- Global Androgen Replacement Therapy Market, By Active Ingredient Type:
- Testosterone
- Methyl Testosterone
- Testosterone Undecanoate
- Testosterone Enanthate
- Testosterone Cypionate
- Global Androgen Replacement Therapy Market, By Distribution Channel:
- Hospitals Pharmacies
- Retail Pharmacies
- Online Pharmacies
- Global Androgen Replacement Therapy Treatment Market, By Region:
- North America
- By Country:
- U.S.
- Canada
- By Country:
- Europe
- By Country:
- U.K.
- Germany
- Italy
- Spain
- France
- Russia
- Rest of Europe
- By Country:
- Asia Pacific
- By Country:
- Australia
- India
- China
- Japan
- ASEAN
- South Korea
- Rest of Asia Pacific
- By Country:
- Latin America
- By Country:
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country:
- Middle East
- By Country:
- GCC
- Israel
- Rest of Middle East
- By Country:
- Africa
- By Country/Region:
- South Africa
- Central Africa
- North Africa
- By Country/Region:
- North America
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