Dublin, Nov. 06, 2024 (GLOBE NEWSWIRE) — The “Testosterone Replacement Therapy (TRT) – Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.
The global market for Testosterone Replacement Therapy (TRT) is estimated at US$1.9 Billion in 2023 and is projected to reach US$2.5 Billion by 2030, growing at a CAGR of 4.1% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
The market growth for TRT is influenced by several factors, including the diversification of delivery methods, which cater to patient preferences for less invasive and more convenient treatment options, thereby boosting adoption rates. Advances in precision medicine enhance the accuracy of testosterone deficiency diagnoses, leading to more personalized treatment regimens that improve efficacy and patient adherence. Increased awareness and education about hormone health within the public and medical communities have led to more widespread screening and diagnosis of low testosterone, further propelling the demand for TRT.
The aging global population also contributes to the expanding market, as more men seek treatments to manage age-related testosterone decline. Regulatory advancements, better insurance coverage for hormone therapies, and the integration of TRT into telehealth platforms facilitate wider access to and management of this therapy, highlighting a growing consumer-driven demand for treatments that enhance the quality of life.
Why You Should Buy This Report:
- Detailed Market Analysis: Access a thorough analysis of the Global Testosterone Replacement Therapy (TRT) Market, covering all major geographic regions and market segments.
- Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
- Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Testosterone Replacement Therapy (TRT) Market.
- Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the TRT Topicals segment, which is expected to reach US$1.9 Billion by 2030 with a CAGR of a 4.4%. The TRT Injectables segment is also set to grow at 3.1% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $494.9 Million in 2023, and China, forecasted to grow at an impressive 6.3% CAGR to reach $526.4 Million by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as Apricus Biosciences, Inc., ASKA Pharmaceutical Co., Ltd., Clarus Therapeutics, Inc., and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 179 |
| Forecast Period | 2023 – 2030 |
| Estimated Market Value (USD) in 2023 | $1.9 Billion |
| Forecasted Market Value (USD) by 2030 | $2.5 Billion |
| Compound Annual Growth Rate | 4.1% |
| Regions Covered | Global |
Key Topics Covered:
MARKET OVERVIEW
- Influencer Market Insights
- Global Economic Update
- Testosterone Replacement Therapy (TRT) – Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
MARKET TRENDS & DRIVERS
- Rising Awareness of Hypogonadism and Its Symptoms Propels Growth in TRT Market
- Increasing Geriatric Population and Age-Related Testosterone Decline Expands Addressable Market Opportunity
- Growing Focus on Men’s Health and Wellness Drives Market Adoption
- Introduction of Long-Acting and Convenient Formulations Throws the Spotlight on Enhanced Patient Compliance
- Advances in Hormone Replacement Therapies Propel Development of Novel TRT Products
- Increasing Healthcare Expenditure and Access to Medical Services Accelerates Market Growth
- Focus on Personalized Medicine and Tailored TRT Solutions Generates New Market Opportunities
- Growing Adoption of Telemedicine and Online Consultations Expands Reach of TRT Services
- Growing Awareness on Testosterone Deficiency Drive Market Penetration
- Development of Bioidentical Hormones and Natural Alternatives Spurt Interest in TRT
- Advances in Diagnostic Tools and Early Detection Propel Growth in TRT Market
- Rising Adoption of Combination Therapies Enhance Treatment Efficacy
- Focus on Minimizing Side Effects and Enhancing Safety Strengthens Business Case for TRT
- Growing Importance of Preventive Healthcare and Regular Health Check-Ups Drives Market Growth
- Advances in Biotechnology and Gene Therapy Propel Future Developments in TRT
- Adoption of Digital Health Platforms and Mobile Apps Improve Patient Engagement
FOCUS ON SELECT PLAYERS (Total 14 Featured)
- Apricus Biosciences, Inc.
- ASKA Pharmaceutical Co., Ltd.
- Clarus Therapeutics, Inc.
- Ferring Pharmaceuticals (Ferring International Center SA)
- Hormone Replacement Technologies, Inc.
- Kyowa Kirin International PLC
- Lipocine, Inc.
- Mereo BioPharma Group PLC
- Prasco Laboratories
- TesoRx Pharma LLC
- Viramal Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/oh1h5j
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- Global Testosterone Replacement Therapy (TRT) Market
