Global Male Hypogonadism Market Expected to Reach $3,233 Million by 2022 - Allied Market Research
PORTLAND, Oregon and PUNE, India, January 31, 2017 /PRNewswire/ --
Male Hypogonadism Market report, published by Allied Market Research forecasts that the global market was valued at $2,594 million in 2015, and is estimated to reach $3,233 million by 2022, growing at a CAGR of 3.1% from 2016 to 2022. The pituitary disorders segment accounted for nearly half of the total market share in 2015, and is expected to maintain its dominance during analysis period as well.
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Summary of Male Hypogonadism Market Report can be accessed on the website at:
Male hypogonadism is a clinical condition in which testes cannot produce enough testosterone, resulting in decreased development of muscle mass, impaired growth of body hair, development of breast tissues, and lack of deepening of the voice. Growth in the male hypogonadism market is driven by the rise in prevalence & incidence of men with testosterone deficiency, increase in infertility rates, and growth in awareness among the patient population about hypogonadism treatment options by certain campaigns carried out by the government. Moreover, the risk of hypogonadism is very high in the geriatric population, and population with obesity & diabetes; thus, growth in geriatric population and incidence of chronic lifestyle disorders, such obesity & diabetes, are further expected to boost the market growth. However, high side effects of all testosterone products are expected to hinder growth of the testosterone replacement therapy (TRT) segment in this market. Technological advancements are expected to provide new opportunities during the forecast period.
"Injectables held the largest market share in 2015. The launch of innovative injectables for the treatment of hypogonadism in men and rise in preference for injections of gonadotropin-releasing hormones over TRT gels & other formulations are expected to drive growth of this drug delivery method" states by Shubhangi Bawakar, Analyst at Allied Market Research.
North America accounted for majority of the share (more than three-fourths) in the market in 2015, and is expected to remain dominant throughout the forecast period. This is due to growth in population suffering from primary and secondary causes of hypogonadism, and increased patient awareness about the availability of treatment options. In addition, high adoption rate of technologically advanced products and presence of highly sophisticated healthcare infrastructure are anticipated to create new growth opportunities for key players in this market. Europe was the second leading market in 2015. However, Asia-Pacific is expected to be register the highest CAGR of 7.2% throughout the analysis period, owing to rise in hypogonadism patient population along with increase in adoption of western lifestyle, unhealthy diet habits, and growth in urbanization.
Key findings of the study
- By drug therapy, gonadotropin and gonadotropin-releasing hormones therapy segment is projected to grow at the highest CAGR of 8.9% during the forecast period.
- Pituitary disorders segment is expected to grow at the CAGR of 3.2%.
- Injectables accounted for nearly half of the market share in 2015.
- North America accounted for majority of the share (more than three-fourths) in 2015, and is expected to remain dominant throughout the forecast period.
- U.S. accounted for the majority share in the North American market in 2015, and the Mexican market is expected to grow at the highest CAGR of 6.7%.
Key players have adopted product approval as their key strategy to cater to the changing needs of the industry. There is high competition among key players to launch innovative, technologically advanced products to increase their market share and serve the patients in a better way. Major players operating in this market include AbbVie Inc., Allergan plc, AstraZeneca plc, Bayer AG, Eli Lilly and Company Ltd., Endo International plc, Merck & Co., Inc., Ferring Holding S.A., Finox Biotech, IBSA Institut Biochimque SA, Laboratoires Genevrier, and Teva Pharmaceutical Industries Ltd.
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SOURCE Allied Market Research