Testosterone Gel Market by Type (1% Solution and 1.62% Solution), by Dosage (5mg and 10mg), by Application (Primary hypogonadism, Hypogonadotropic hypogonadism, and Late-Onset Hypogonadism), by Distribution Channel (Hospital Pharmacies and Retail Pharmacies)- Global Opportunity Analysis and Industry Forecast 2023-2030

Market Definition

The global Testosterone Gel Market size was valued at USD 1.81 billion in 2022 and is predicted to reach USD 2.96 billion by 2030 with a CAGR of 6.3% from 2023-2030. Testosterone gel is a topical therapy that addresses hormonal imbalances in men with hypogonadism, a condition in which the body does not produce enough natural testosterone. Testosterone is a male hormone that is essential for many bodily functions, including bone density, muscle mass, fat distribution, and overall strength. Low testosterone levels can lead to a variety of health problems, such as erectile dysfunction, fatigue, and decreased libido.

Testosterone gel provides a localized way to correct hormonal deficiencies in men with hypogonadism. The gel delivers exogenous testosterone (testosterone from outside the body) into the system, which helps to restore the body's endocrine balance and may help to mitigate the negative effects of low testosterone levels. Under medical supervision, testosterone gel can help to restore the delicate balance of male hormones that are essential for optimal physical function, from maintaining musculoskeletal health to preserving virility.

Market Dynamics and Trends

Increasing prevalence of male hypogonadism that reduces the natural production of testosterone in human body owing to changing lifestyle, genetic conditions and sedentary nature of jobs is driving the testosterone gel market. According to the US national library of medicine (NLM), the prevalence of hypogonadism among men aged 45 years or older is estimated to be 38.7% in the US.

Also, rising number of people affected by obesity across the world due to poor diet, less physical activity as it triggers insulin resistance in human body in tern lowers testosterone level is further driving the testosterone gel market growth. For instance, according to the survey conducted by Centers for Disease Control and Prevention (CDC) on 2018, the prevalence of obesity among adults were around 42% in the United States.

Moreover, in 2019, according to Eurostat, 53% of adults living in the EU were overweight. Furthermore, increasing number of people with various medical conditions such as COPD, liver disease, pituitary gland complications and diabetes that affects the testosterone level and development of testicles, which are responsible for the production of testosterone in male body is fueling the growth of testosterone gel market. However, limited availability and lack of awareness among consumers about testosterone gel products and risks associated with the use of topical testosterone gel such as cardiovascular events including heart attacks, strokes and abnormal drug-seeking behavior are the factors restraining the testosterone gel market. 

On the contrary, introduction of testosterone 2% gel and Ferring Advanced Skin Technology (FAST) is expected to create ample growth opportunities for the market in the coming years. Ferring Advanced Skin Technology (FAST) is proprietary topical gel technology developed by Ferring Pharmaceuticals that uses a combination of volatile or non-volatile solvents and permeation enhancers that temporarily increase the skin capability to absorb medication. 

Market Segmentations and Scope of the Study

The testosterone gel market share is segmented on the basis of type, dosage, application, distribution channel and geography. On the basis of type, the market is divided into 1% solution and 1.62% solution. On the basis of dosage, the market is divided into 5mg and 10mg. On the basis of application, the market is classified into primary hypogonadism, hypogonadotropic hypogonadism, ate-onset hypogonadism. 

On the basis of distribution channel, the market is categorized into hospital pharmacies and retail pharmacies. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising of North America, Europe, Asia-Pacific, and RoW.

Geographical Analysis

North America holds the lion's share of the testosterone gel market and is expected to continue its dominance during the forecast period. This is attributed to the factors such as high government approval rate and availability of several testosterone gel products in the region such as Androgel, Fortesta, Testim, Testosterone (generic) and Natesto that increases the adaption of testosterone gel in the region. 

Also, presence of very high number of people suffering from cancer in the region as chemotherapy or radiation therapy leads to testosterone deficiency in men further boosts the testosterone gel market. For instance, in 2019, according to the Centers for Disease Control and Prevention (CDC), the total number of new cancer cases in United States were 1,752,735. 

On the other hand, Asia Pacific is expected to show a steady rise in the testosterone gel market owing to prevalence of chronic disorders such as Acquired Immunodeficiency Syndrome (AIDS) in the region. HIV causes the male sex hormones to operate incorrectly, leading to hypogonadism and reduction of testosterone. For instance, as of 2019, according to the ministry of health and family welfare of India, total number of people leaving with AIDS in the country is estimated to be more than 2.3 million. 

Also, high number of people suffering diabetes in countries like China, India and Japan as it leads to low testosterone levels in men is further fueling the growth of testosterone gel market in the region. For instance, in 2021, according to world bank, 10.6% of total population (age 20-79) has diabetes in China. 

Competitive Landscape

The testosterone gel industry comprises of various market players such as AbbVie Inc., Teva, Hyundai Pharm Co ltd, Perrigo, Endo Pharmaceuticals Inc., Acerus Pharmaceuticals, Lupin, Dr. Reddy's Laboratories, Upsher-Smith Laboratories and Eli Lilly and Company. These market players are launching numerous products across various regions to maintain their dominance in the global testosterone gel market. 

For instance, in July 2019, Hyundai Pharm Co., Ltd., a pharmaceutical company based in South Korea, officially launched the commercialization of NATESTO, a nasal testosterone gel developed by Acerus Pharmaceuticals Corporation, a Canadian pharmaceutical company. NATESTO is the first and only nasally-administered testosterone product approved for sale in South Korea. 

Moreover, in May 6, 2019, Dr. Reddy’s Laboratories Ltd. launched Testosterone Gel 1.62%, which is a therapeutic equivalent and generic version of AndroGel in the United States. Dr. Reddy’s Testosterone Gel 1.62% is available in 88 g pump which dispenses 20.25 mg of testosterone.

Furthermore, in April 11, 2019, Teva Pharmaceutical Industries Ltd., a generic drug manufacturer, launched a generic version of AndroGel 1.62% CIII in the United States. AndroGel is a testosterone gel that is used to treat men with low testosterone levels. The generic version of AndroGel is bioequivalent to the brand-name version, meaning that it has the same active ingredient and is absorbed into the body in the same way.

KEY BENEFITS

• The report provides a quantitative analysis and estimations of the testosterone gel industry from 2023 to 2030, which assists in identifying the prevailing market opportunities.

• The study comprises a deep dive analysis of the testosterone gel market, including the current and future trends to the depict prevalent investment pockets in the market.

• Information related to key drivers, restraints, and opportunities and their impact on the testosterone gel market is provided in the report. 

• Competitive analysis of the players, along with their market share is provided in the report.

• SWOT analysis and the Porter's Five Forces model is elaborated on in the study.

• Value chain analysis in the testosterone gel market study provides a clear picture of the roles of the stakeholders.

TESTOSTERONE GEL MARKET KEY SEGMENTS

By Type

• 1% Solution

• 1.62% Solution

By Dosage 

• 5mg

• 10mg

By Application

• Primary Hypogonadism 

• Hypogonadotropic Hypogonadism

• Late-Onset Hypogonadism

By Distribution Channel

• Hospital Pharmacies

• Retail Pharmacies

By Region

• North America    

  • US

  • Canada

  • Mexico

• Europe    

  • UK

  • Germany

  • France

  • Spain

  • Italy

  • Netherlands

  • Denmark

  • Finland

  • Norway

  • Sweden

  • Russia

  • Rest of Europe

• Asia-Pacific    

  • China

  • Japan

  • India

  • Australia

  • South Korea

  • Thailand

  • Singapore

  • Rest of Asia-Pacific

• RoW    

  • Latin America

  • Middle East

  • Africa

REPORT SCOPE AND SEGMENTATION: