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The Testosterone Replacement Therapy (TRT) Market size is estimated to grow by USD 497.67 million at a CAGR of 3.7% between 2023 and 2028.
Increased awareness about hypogonadism among the public and primary care physicians will drive revenue growth in the testosterone replacement therapy (TRT) market. Globally, different organizations are working on initiatives to increase patient awareness of hypogonadism and available treatment options. For instance, companies such as Auxilium Pharmaceuticals initiated a low testosterone awareness campaign. Also, organizations like the Endocrine Society undertake initiatives to increase awareness about hypogonadism among medical professionals. Due to increasing awareness of treatment options, a significant number of people are proactively approaching fertility care centres and medical practitioners to undertake testosterone replacement therapy, which is driving the demand for testosterone replacement therapy products, such as topical products, injectables, and oral capsules, globally. Therefore, rising initiatives to increase awareness about hypogonadism among people will drive market growth during the forecast period.
Technavio has segmented the market into Distribution Channel, Product and Geography
It also includes an in-depth analysis of drivers, trends, and challenges. Our report examines historical data from 2018 - 2022, besides analyzing the current market scenario.
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The market share growth by the hospitals segment will be significant during the forecast period. The hospital segment comprises pharmaceuticals that are purchased directly by hospitals from different pharmaceutical companies and used for the treatment of either outpatients or inpatients. Testosterone replacement therapy products such as injectables, topicals, and drugs are found in hospital pharmacies.
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The hospitals segment was the largest and was valued at USD 1,164.50 million in 2018. In 2023, the hospitals segment held the largest market share based on the distribution channel and will continue to dominate the testosterone replacement therapy (TRT) market. Hospital pharmacies may provide advice on drug dosages, interactions, and potential side effects, as well as monitor patient adherence to medication regimens. This can help in improving patient outcomes. Moreover, hospital pharmacies also play a key role in clinical trials. Clinical trials are conducted to test the safety and efficacy of new drugs, and hospital pharmacies are often involved in the preparation and dispensing of medications used in these trials. By participating in clinical trials, hospital pharmacies contribute to the development of new drugs. Trenbolone enanthate, while commonly used in bodybuilding for muscle gains, is distinct from testosterone replacement therapy, which is prescribed to treat low testosterone levels in men. All such factors make hospital pharmacy a critical channel that drives segment growth. This, in turn, is expected to drive the growth of the market during the forecast period.
The injectables segment is witnessing steady growth, owing to the availability of patient assistance programs and their direct administration benefits. Pfizer, one of the leading vendors, provides Depo-Testosterone, which is an androgen that is prescribed for male replacement therapy in circumstances where there are signs of endogenous testosterone insufficiency or absence through the Pfizer Savings Program. Another major factor associated with the growth of this segment is the increase in the prevalence of testosterone deficiency. Obesity, diabetes, dyslipidemia, and metabolic syndrome are the major conditions that are identified as risk factors for testosterone deficiency. Therefore, the increase in the prevalence of testosterone deficiency is expected to accelerate the growth of the testosterone replacement therapy (TRT) market during the forecast period.
Topical treatments for testosterone deficiency include gels and patches. Topical products offer several benefits over injectable products, such as easy application and use and pain-free treatment. Moreover, the absorption process through the skin causes fluctuations in testosterone levels, which closely mimics the natural process in the human body, providing safer administration. Furthermore, the increasing availability of gel-based products is driving the revenue growth of the topical segment during the forecast period.
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North America is estimated to contribute 57% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that will shape the market during the forecast period. North America is a dominating region in the testosterone replacement therapy market with the US and Canada being the leading revenue-generating countries. The presence of key players ensures the easy availability of new and improved products in the region. Moreover, the increasing cases of hypogonadism and raising awareness about the treatment of testosterone deficiency and erectile dysfunction are promoting growth in testosterone replacement therapies. About 10% of males in the US have infertility. Testosterone deficiency due to hypogonadism is among the primary causes of such complications.
For instance, according to Boston University, an estimated 4 to 5 million men in the US get affected by hypogonadism every year. People are coming forward to seek treatment, owing to which patients undergoing testosterone replacement therapies are increasing in the region. This is expected to drive the growth of the regional market during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 19 market companies, including:
AbbVie Inc. - The company offers testosterone replacement therapy such as Androderm.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
There are multiple factors influencing market growth. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges.
The increasing aging population and postmenopausal women are notably driving the market growth. Menopausal-related medical conditions are treated with hormone replacement therapy drugs such as estrogen, progesterone, and others. For instance, over 50% of those over 65 in February 2021, or over 9% of the population, were women, according to the United Nations Economic and Social Commission for Asia and the Pacific, a regional organization with its regional headquarters in Thailand. This percentage is anticipated to increase by 18% by 2050. The percentage of adults over 80 will nearly triple, from 1.7% to 4.9% of the population, with women making up more than 60% of this group. Older women may be more vulnerable to menopausal-related medical conditions than older men for a variety of reasons.
Moreover, the market for drugs used in hormonal replacement therapy is, therefore, driven by the growing number of women experiencing menopausal symptoms and the aging population. Thus, the increasing aging population and postmenopausal women are the major factors that are expected to boost the growth of the global testosterone replacement therapy (TRT) market during the forecast period.
The rise in novel therapeutic approaches for testosterone replacement therapy is an emerging trend shaping the market growth. The testosterone replacement therapy market has witnessed a rise in novel therapeutic approaches to treat low testosterone deficiency. Metabolic syndrome can lead to testosterone deficiency. Metabolic syndrome is treated with anti-inflammatory drugs, which can also be used to treat testosterone deficiency. For instance, at an Endocrine Society annual meeting, Dr. Fahim Ebrahimi presented the results of a recent study that analyzed the therapeutic effects of Anakinra on the testosterone levels of individuals with metabolic syndrome. According to the results, testosterone levels rose by 11% in the treatment group.
However, the growing focus of companies toward such therapeutic approaches is expected to contribute to the entry of new products in the testosterone replacement therapy (TRT) market. Thus, the rise in novel therapeutic approaches is one of the major trends that is expected to boost the growth of the testosterone replacement therapy (TRT) market during the forecast period.
The adverse effects of testosterone replacement therapy are a significant challenge hindering market growth. Testosterone replacement therapy is being approved by the US FDA and is indicated to treat disorders associated with low levels of testosterone. However, the injectables, topicals, implants, and oral capsule-based products indicated for use in testosterone replacement therapy have been associated with being the primary cause of several adverse events. Potential adverse effects of testosterone replacement therapies are the risk of cardiovascular diseases, risk of prostate cancer, and obstructive sleep apnea. As per the US FDA, older men undergoing testosterone were at risk of a heart attack. Moreover, testosterone therapy increases the risk of stroke in aged men.
Furthermore, products used for testosterone replacement therapies are found to increase the risk of cerebrovascular accidents, which leads to stroke in individuals. Therefore, such adverse effects associated with testosterone replacement therapies can decrease patient compliance, which can become a major challenge for the growth of the testosterone replacement therapy (TRT) market. Therefore such factors are expected to hinder the market growth during the forecast period.
The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Testosterone Replacement Therapy Market Customer Landscape
The testosterone replacement therapy market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
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Testosterone Replacement Therapy Market Scope |
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Report Coverage |
Details |
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Page number |
167 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 3.7% |
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Market Growth 2024-2028 |
USD 497.67 million |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
3.13 |
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Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
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Performing market contribution |
North America at 57% |
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Key countries |
US, Canada, Germany, UK, and China |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
AbbVie Inc., Acerus Pharmaceuticals Corp., Actiza Pharmaceutical Pvt. Ltd., Alembic Pharmaceuticals Ltd., Amneal Pharmaceuticals Inc., Bausch Health Companies Inc., Bayer AG, Cipla Ltd., Eli Lilly and Co., Endo International Plc, Ferring BV, Halozyme Therapeutics Inc., Insud Pharma S.L, Lupin Ltd., Marius Pharmaceuticals, Pfizer Inc., Teva Pharmaceutical Industries Ltd., Acrux Ltd., Alvogen Iceland ehf, and Sawai Pharmaceutical Co. Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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