According to the latest research by Future Market Insights, the Testosterone Injectable Market is set to witness a growth of 4.1% CAGR during the year 2021-2031. Testosterone injectable market is one of the most important classes of hormone injectable therapy adopted globally.
Testosterone injectable market is gaining acceptance among patients and physicians due to increasing awareness regarding benefits and efficacy of testosterone replacement therapy products.
The primary male hormone responsible for improving male sexual traits, spermatogenesis, and fertility is testosterone. Erectile dysfunction is caused by a lack of testosterone production, which can be treated with testosterone injectable.
The demand for testosterone injectable market is largely based on the rise in geriatric population with high risk of testosterone deficiency, growing awareness about testosterone injectable, improved health care infrastructure, policies, and advancement in health care infrastructure.
Moreover, access to various diagnostic and treatment services has improved in the recent past, especially in developed economies and this is one of the major factor that has boosted the demand for testosterone injectable market.
The market for testosterone injectable is most prominently driven by countries like U.S. According to a study published in the European Association of Urology Journal, testosterone treatment patterns in the United States have increased by 1.8 to 4-fold in the last two decades.
Moreover, there is an increasing number of people suffering from hypogonadism, growing geriatric population and growing availability of effective and convenient treatment options results in an increasing demand for testosterone injectable in the U.S. The U.S. is undertaking a variety of attempts to strengthen their research and development facilities to fulfil the demand for testosterone injectable.
As per a study published in the National Center for Biotechnology Information (NCBI), approximately 30% of men worldwide are affected by hypogonadism. Europe accounts for the existence of numerous medical centers, robust healthcare infrastructure, and increasing government initiative.
Furthermore, rising rise in the incidence of testosterone deficiency, increase in geriatric population with high risk of testosterone deficiency, and increasing awareness about testosterone substitute therapy are the key driving factors in testosterone injectable market in Europe.
The key companies working in testosterone injectable and solutions for testosterone injectable are
Manufacturers in the market focus on carrying out certain strategic activities such as acquisitions and mergers, expansion, product launch, etc. For instance, on May 25, 2020, Partner Perspectives announced the latest innovation in Testosterone Replacement Therapy (TRT) is JATENZO®, an oral softgel formulation of testosterone undecanoate (TU) for adult males for conditions associated with a deficiency or absence of endogenous testosterone.
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