Testosterone Injectable Market Trends
Growth Drivers
- Rapidly Growing Geriatric Population Across the World – The growth in the aging population is giving rise to the testosterone injectable market expansion of testosterone injectables since testosterone organically reduces with the growing age and a lot of old people experience the symptoms of low testosterone. As per the statistics, the incidence of lower testosterone in men above the age of 60 years was 21.67%.
- High Incidence of Testosterone Deficiency Among People Globally – Besides the aging population low testosterone can also appear in the younger generation too. Owing to various factors such as obesity, chronic illness, excessive lifestyle change, and environmental factors. The growing existence of testosterone deficiency among different age groups has propelled the demand for testosterone injectables. As per statistics, the prevalence of testosterone in young men, middlemen, and old men was 22.6%, 35.85%, and 35% respectively.
- Availability to Various Treatment Centers – The accessibility to multiple diagnostics imaging centers, and treatment services in the past few years especially in emerging countries.
Challenges
- Side Effects Associated with Testosterone Injectables – With advantages testosterone injectables do have a few side effects on the human body such as reduced sperm production, acne, skin reactions, sleep problem, hair loss, mood swings, and others. These side effects may limit the market value in the upcoming times.
- Availability of Substitute Treatment Options
- Regulatory Challenges
Testosterone Injectable Market: Key Insights
According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.
|
Base Year |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
3.9% |
|
Base Year Market Size (2024) |
USD 2.16 billion |
|
Forecast Year Market Size (2037) |
USD 3.55 billion |
|
Regional Scope |
|
