Sales of testosterone replacement therapy (TRT) have skyrocketed in recent years, and the market is expected to gradually increase in the years ahead, according to Transparency Market Research.
“However, the market is currently at a crucial juncture with top performing products losing their patents in the next few years. This will no doubt cause a major dent in revenues of key market players. However, some of this impact could be reduced by the heightened demand for and awareness levels about the benefits of advanced TRT products. Many of these products that are now being utilized in testosterone deficiency treatment are likely to support market growth during the forecast period,” said the global market intelligence company providing business information reports and services.
The company says key players in the global testosterone replacement therapy market are AbbVie, Inc., Allergan plc, Bayer AG, Endo Pharmaceuticals, Inc., Eli Lilly and Company, Kyowa Kirin International plc, Mylan N.V., Novartis AG, and Pfizer, Inc. “The testosterone replacement therapy market is somewhat consolidated with presence of a few large global players and some local vendors that are operating in the international market,” the report states.
America dominates the market share of testosterone treatment sales at 84.7 percent, likely due to the United States’ allowance of drug companies to use direct-to-consumer advertising. Testosterone manufacturers, such as AbbVie, have used aggressive campaigns to promote its AndroGel, coining the phrase “low T” and encouraging men to ask their doctor for the treatment by name. Consumers were quick to find out whether the treatment would improve sex drive and muscle mass, as promised in the ads.
What men are discovering, however, is that the promises made of testosterone therapy are in fact too good to be true. Studies have linked testosterone treatments to an increased risk of heart attacks, strokes, blood clots, and death. Manufacturers face the first found of trials in 2017. The lawsuits allege the drug companies failed to warn of serious health risks with the hormone.