Global Androgen Replacement Therapy Market, by Product Type (Testosterone Creams/Gels, Testosterone Patches, Testosterone Injections, Testosterone Implants, and Testosterone Tablets/Capsules/Gums), by Active Ingredient Type (Testosterone, Methyl Testosterone, Testosterone Undecanoate, Testosterone Enanthate, and Testosterone Cypionate), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), is estimated to be valued at US$ 1,965.5 million in 2021 and is expected to exhibit a CAGR of 7.8% during the forecast period (2021-2028).
Product approval by regulatory authorities is expected to drive growth of the global androgen replacement therapy market during the forecast period. For instance, in October 2018, Antares Pharma received the U.S. FDA approval for XYOSTED (testosterone enanthate) injection. XYOSTED is the first U.S. FDA approved subcutaneous testosterone enanthate product for once-weekly, at-home self-administration with an easy-to-use, single dose, disposable QuickShot auto injector. XYOSTED has been approved in three dosage strengths- 50 mg, 75 mg, and 100 mg, and is indicated for testosterone replacement therapy in adult males for conditions associated with a deficiency or absence of endogenous testosterone.
Key players are focused on development and launch of new advanced androgen replacement therapies in the market, which is expected to contribute significantly to the androgen replacement therapy market growth. For instance, in October 2018, Perrigo Company plc. announced the launch of an AB-rated generic version of Androgel Topical Gel, 1.62% (20.25mg testosterone/1.25g packet, 40.5mg testosterone/2.5g packet, and 20.25mg/1.25g actuation pump).
Global Androgen Replacement Therapy Market - Impact of Coronavirus (COVID – 19) Pandemic
COVID-19 outbreak was first reported on December 31, 2019 in Wuhan, China. According to the Coronavirus (COVID-19) Weekly Epidemiological Update by the World Health Organization, over 146 million cases and 3.1 million deaths due to coronavirus (COVID-19) were reported up till April 25th, 2021 across the globe.
The coronavirus (COVID-19) pandemic and lockdown in various countries across the globe has impacted the financial status of businesses in all sectors. The private healthcare sector is one of the sectors which has been majorly affected by the pandemic. The lockdown in various countries have created an economic burden on the private healthcare sector. Healthcare providers are facing challenges with regards to manpower, equipment, consumables, and other resources to ensure safety of patients with other diseases, and declining outpatient’s visits among others.
Moreover, the pandemic has negatively impacted the development, production, and supply of drugs, and affected growth of the healthcare segment of various companies across the globe. This has led to closure of industrial establishments, except manufacturing of essential commodities and disruption in supply chain of products. The COVID-19 pandemic has affected the economy in three main ways: 1) by directly affecting the production and demand; 2) by creating disruptions in distribution channels; and 3) through its financial impact on companies and financial markets.
Supply chain and manufacturing activities in India, China, the U.S., and others have been disrupted due to lockdowns. Whereas, countries such as Thailand, Indonesia, Singapore, and others are facing problems with transportation of drugs and medications. The COVID-19 pandemic is expected to slightly disrupt the R&D activities in the androgen replacement therapy market.
Browse 39 Market Data Tables and 22 Figures spread through 191 Pages and in-depth TOC on Global Androgen Replacement Therapy Market, by Product Type (Testosterone Creams/Gels, Testosterone Patches, Testosterone Injections, Testosterone Implants, and Testosterone Tablets/Capsules/Gums), by Active Ingredient Type (Testosterone, Methyl Testosterone, Testosterone Undecanoate, Testosterone Enanthate, and Testosterone Cypionate), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa).
To know the latest trends and insights prevalent in the Androgen replacement therapy market, click the link below:
Several market players are focused on acquisition of commercial rights to expand their product portfolio and gain maximum share of market. For instance, in April 2016, Aytu BioScience, Inc., announced the exclusive licensing of its third commercial-stage urology product in just 11 months, with the execution of a long-term, exclusive license agreement with an affiliate of Acerus Pharmaceuticals Corporation for the U.S. commercial rights to Natesto (testosterone) Nasal Gel. Natesto is the first and only nasal formulation of testosterone approved by the U.S. Food and Drug Administration (FDA), as a replacement therapy for men diagnosed with hypogonadism.
Key Takeaways of the Androgen Replacement Therapy Market:
Joining thousands of companies around the world committed to making the Excellent Business Solutions.