The Global Testosterone Gel Market size is estimated to be USD 1.51 billion in 2019 and is predicted to reach USD 2.96 billion by 2030 with a CAGR of 6.3% from 2020-2030. Testosterone Gel is an androgel which is used for the treatment of low testosterone levels in men. Testosterone is the male sex hormone which helps in the development of male sex organs and secondary sex characteristics. Low testosterone levels led to the various conditions in men which include osteoporosis, erectile dysfunction, reduced sexual desire, loss of energy, regression of secondary sexual characters and others.
Market Dynamics and Trends
The developing healthcare facilities coupled with fast developing healthcare infrastructure has proliferated the growth of testosterone gel market. Furthermore, technological advancement and changing lifestyle and genetic conditions may led to the reduced level of testosterone which are expected to accelerate the market growth.
The other factors include various conditions such as COPD, liver disease, pituitary gland problems, diabetes and others may affect the testosterone level and underdevelopment of testicles which are responsible for the production of testosterone are expected to enhance the market growth. However, lack of awareness and limited products with various side effects are expected to hamper the growth of testosterone gel market. Moreover, new product launches and FDA approval for the new products by different manufactures are expected to create lucrative opportunities in the testosterone gel market over the foreasct period.
Market Segmentations and Scope of the Study:
The global testosterone gel market share is analyzed on the basis of type, application and geography. On the basis of product, the market is segmented into 1% Solution; 1.62% solution; 20 mg/1.25gm: 25 mg/2.5 gm; 40.5 mg/2.5gm: 50 mg/5 g, 1%: 1.62%. On the basis of application, the market is divided into Primary hypogonadism, Hypogonadotropic hypogonadism, and Late-onset hypogonadism. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.
North America denotes a higher adoption of the testosterone gel and is anticipated hold the highest market share during the forecast period. This is attributable to the factors including presence of well-established healthcare amenities, increase in the prevalence of chronic disorders which may affect the testosterone level and new product launches in the region are expected to fuel the growth of testosterone gel market.
Asia Pacific is expected to show rapid growth owing to the presence of developing economies such as India, China and others. Furthermore, increasing patient population and various other conditions such as genetic disorder or underdeveloped testicles are expected to augment the growth of testosterone gel market.
The testosterone gel market, which is highly competitive, consists of a few major players. Some of the market players are AbbVie, Perrigo, Teva, Endo Pharmaceuticals, Lupin, Acerus Pharmaceuticals, Upsher-Smith Laboratories and Dr. Reddy's Laboratories among others.
Over the period of time there have been various developments taken place in the market and also expected to takes place in near future which contribute the overall market growth. For instance, in May 2019, Dr Reddy's Laboratories has launched in the US market its generic version of AndroGel testosterone gel which is used in treating adult males with low or no testosterone due to certain medical conditions.
- The testosterone gel market report provides the quantitative analysis of the current market and estimations through 2020-2030 that assists in identifying the prevailing market opportunities to capitalize on.
- The study comprises a deep dive analysis of the testosterone gel market trend including the current and future trends for depicting the prevalent investment pockets in the market.
- The information related to key drivers, restraints and opportunities and their impact on the testosterone gel market is provided in the report.
- The competitive analysis of the market players along with their market share in the global testosterone gel market.
- The SWOT analysis and Porters Five Forces model is elaborated in the study.
- Value chain analysis in the market study provides a clear picture of the stakeholders’ roles.
KEY MARKET SEGMENTS:
- Global Testosterone Gel market – By Type
- 1% Solution
- 1.62% solution
- 20 mg/1.25gm
- 25 mg/2.5 gm
- 40.5 mg/2.5gm
- 50 mg/5 g
- 1%: 1.62%.
- Global Testosterone Gel market – By Application
- Primary hypogonadism
- Hypogonadotropic hypogonadism
- Late-onset hypogonadism
- Global Testosterone Gel market –By Geography
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Saudi Arabia
- South Africa
- Rest of RoW
- North America