Global Male Hypogonadism Market Projected to Register a Value of US$ 3,300 Mn by 2026
Market Research Report Search Engine (MRRSE) recently announced the addition of a new research study to its comprehensive collection of research reports. The research report, titled “Global Market Study on Male Hypogonadism: North America to Remain Largest Market for Male Hypogonadism during 2017 – 2026” offers a detailed analysis of the market, providing insights into the market dynamics that are expected to influence the overall market positively in the next few years. Furthermore, the product segmentation, drivers, barriers, key geographical segments, and the competitive scenario of the global Male Hypogonadism market have been elaborated upon in the research report.
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Lack of sex hormones, generally referred to male hypogonadism, results into several health risks such as osteoporosis and heart disease, owing to thinning of bones. The global market for male hypogonadism comprises several patented brands with high market penetration. Growth in geriatric population along with rising incidences of rheumatoid arthritis and obesity are primary factors influencing prevalence of male hypogonadism.
Mounting cases of testosterone deficiency in men is a key factor underpinning prevalence of male hypogonadism globally. Several governments across the globe are driving awareness about hypogonadism treatment methods, such as testosterone replacement therapy (TST), among patients. As low testosterone levels have been witnessed to exacerbate chronic conditions, they result into disorders associated with hypothalamic-pituitary-gonadal axis. The advent of TST however has enabled reduction in number of cases related to male hypogonadism to a certain extent, and with growing awareness about the treatment among people, the market will gain an uptick in the near future. Availability of selective androgen receptor modulators (SARMs) is further expected to accelerate the market expansion. This is mainly because the development and freely available SARMs has resulted into the provision of better treatment procedure for patients with androgen deficiencies.
According to a new Persistence Market Research’s Report, a steady expansion will be reflected by the global male hypogonadism market during the period 2017 to 2026. The global market for male hypogonadism is forecast to surpass revenues worth US$ 3,300 Mn by 2026-end.
Topical Gels will continue to Account for Largest Market Revenue Share
Based on drug type, topical gels will continue to account for the largest revenue share of the global male hypogonadism market. Topical gels, available in the form of a semi-liquid state, comprise an active ingredient that can be applied locally and offers maximum efficacy. Facilitation in application and removal of topical gels has further boosted their demand among patients with male hypogonadism. Transdermal patches will account for the smallest revenue share of the market during 2017 to 2026.
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In North America, relatively higher prevalence of chronic diseases are observed on the back of lower testosterone levels of the region’s male population. This has further created high demand for testosterone replacement therapy, which in turn has contributed significantly to the revenue share of the region in the male hypogonadism market. North America will remain dominant in the market, in terms of revenues. The market in North America is also projected to exhibit the highest CAGR through 2026.
Key Research Findings from PMR’s Report
- On the basis of therapy, testosterone replacement therapy will continue to lead the global male hypogonadism market, in terms of revenues
- By disease type, Klinefelter’s syndrome will continue to account for a relatively larger revenue share of the male hypogonadism market during 2017 to 2026
Nature of the global male hypogonadism market is highly competitive, which can be attributed to presence of many small and large suppliers. However, occasional eruptions of competition have been observed emanating from local manufacturers from different countries. New companies are also entering the male hypogonadism market as treatment developments and innovations pave numerous opportunities for these players.
Strategic alliances will remain key among vendors in order to produce and market drugs worldwide, and increase their market reach. Key players identified by PMR’s report include IBSA Institut Biochimque, Teva Pharmaceutical Industries Ltd., Eli Lilly and Company Ltd., Ferring, Allergan Plc., Merck & Co. Inc., Bayer AG, Finox Biotech, AbbVie Inc., Endo International Plc., Laboratories Genevrier, and Astrazeneca Plc.
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