New York, July 19, 2022 (GLOBE NEWSWIRE) -- Hypogonadism is thought to affect 4 to 5 million men in the United States. Older men are particularly prone to have low testosterone levels. Free testosterone levels are typically below those of men between the ages of 30 and 35 in more than 60% of males over the age of 65. Actually, only 5% of hypogonadal males obtain testosterone replacement therapy. Some specialists also think that we need to lower the diagnostic limit for hypogonadism and review normal testosterone levels.
Research Nester has published a detailed market report on ‘Global Testosterone Injectable Market’ for the forecast period i.e. 2022 – 2031 which includes the ongoing industry innovations and recent trends being adopted by the major industry players to achieve their business targets. Apart from that, the inclusive data on market size, growth rate, market revenue share, growth opportunities and challenges for the market players along with worldwide analysis on five major regions – North America, Latin America, Europe, Asia Pacific and Middle East & Africa has been provided in the report.
According to the World Health Organization, the proportion of people over 60 years old in the world's population will increase from 12 to 22% and by 2030, it is predicted that 1 in 6 persons worldwide would be 60 or older. The global testosterone injectable market is estimated to grow at a CAGR of ~4% over the forecast period. The growth of the market can be attributed to the constantly expanding senior population worldwide, and their significant risk of testosterone deficiency. Testosterone deficiency syndrome, also known as hypogonadism, occurs when a man's body does not create enough testosterone, the predominant male hormone. The testosterone injectable treatment is needed when the testosterone level falls below the normal level. For instance, depending on the man's age, normal total testosterone levels typically vary from 240 to 950 ng/dL (nanograms per decilitre), or 9-33 nmol/L. (nanomoles per liter). When the total testosterone level is less than 300 ng/dl, the diagnosis of low testosterone can be substantiated. When the total testosterone levels are below 230 ng/dL, treatment is frequently recommended. Additionally, 10-40% of people worldwide have testosterone deficiency (TD).
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Along with this, rising awareness levels about testosterone injectable globally and the rising prevalence of illnesses associated with hormonal imbalance and testosterone deficiency are also anticipated to hasten the market growth over the forecast period. It is also observed that the prevalence of testosterone deficiency is more in clinically ill patients and diabetic patients. For instance, 50 percent of people with type 2 diabetes mellitus and 54 percent of hospitalized or sick people had testosterone deficiency, respectively. Additionally, enhancements in access to a wide range of diagnostic and treatments, advancements in healthcare technologies and infrastructure, and projected development in global healthcare policies are expected to provide the market with plenty of potential prospects in the near future. As per the World Health Organization’s triple billion project for the 13th general program work between 2019-2023, is predicted to enforce the use of digital and cutting-edge information and communications technologies strategically to ensure that 1 billion more people receive universal health coverage, are better protected from medical emergencies, and enjoy better health and well-being.
On the basis of geographical analysis, the global testosterone injectable market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa region. Out of these, the market in North America region is expected to hold the largest market share over the forecast period. The growth can be attributed to the increasing occurrence of hypogonadism, and the high availability of testosterone injectables in the region. In addition, high healthcare expenditure, especially in the United States, is also expected to fuel the market growth in the region in the upcoming years. It was observed that spending on health care in the United States increased by 9.7% in 2020 to USD 4.1 trillion, or USD 12,530 per person. The amount spent on health represented 19.7% of the country's gross domestic product (GDP).
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Additionally, the market in Europe region is anticipated to grow significantly during the forecast period owing to the region's expanding elderly population and well-established healthcare infrastructure. For instance, at the beginning of 2019, there were 90.5 million older persons – defined as those 65 years of age or older — residing in the Europe region, or about 20.3% of the entire population. The number of older people in the European region is predicted to rise during the following three decades, reaching a peak of 129.8 million people in 2050, moreover their relative share of the total population is predicted to rise gradually and reach 29.4% in 2050.
The study further incorporates Y-O-Y growth, demand & supply and forecast future opportunity in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
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The global testosterone injectable market is segmented by dosage form into hypogonadism, autoimmune conditions, genetic disorders, sex organ surgeries, and others. Out of these, the hypogonadism segment is expected to hold the largest market share over the forecast period. The growth can be attributed to the widespread use of injectable testosterone to restore normal testosterone levels in cases of male hypogonadism, untreated hypogonadism can lead to heart disease and fatality. For instance, as per one of the studies, men with low testosterone levels died at a rate twice as high as those with normal levels. Those with low testosterone had a mortality rate of one in five compared to one in eight (12%) of those with normal levels. In addition, the increasing number of incidences of the disease around the world is also predicted to boost the segment growth during the forecast period.
Further, the global testosterone injectable market is segmented by end user into hospitals, homecare, specialty clinics, and others. Out of these, the hospitals segment is estimated to gather a notable market share over the forecast period owing to increasing awareness among the people and the rising need for accurate, on-time diagnosis and cure of the low testosterone level, which in turn is estimated to increase the overall spending in the health across the globe. For instance, global health spending has increased overall during the previous 20 years, doubling in real terms, reaching USD 8.5 trillion in 2019 and 9.8% of GDP up from 8.5% in 2000. In addition to this, the accessibility of cutting-edge medical technology and patients' strong desire for receiving care in a hospital setting are expected to drive segment growth over the forecast period.
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The global testosterone injectable market is also segmented on the basis of age group.
Global Testosterone Injectable Market, Segmentation by Age Group
- Adults
- Geriatric
- Pediatric
Some of the prominent key players and their company profiling mentioned in the global testosterone injectable market research report include Bayer AG, Endo Pharmaceutical, Inc., Eli Lilly & Company, Kyowa Kirin International plc, Mylan N.V., Novartis A.G., Pfizer, Inc., Allergan Plc, AbbVie Inc., Longyan Tianhua Biological Technology Co. Ltd, and other key market players. The profiling enfolds growth opportunities, challenges, and market trends prevalent for the growth of the market during the forecast period.
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