The global market for testosterone replacement therapy is expected to reach a value of $1.3 billion by the end of 2024, according to market research group Transparency Market Research, a value lower than the previous year of $2 billion. As a result, the market will show a negative compounding annual growth rate of -4.2 percent over the course of the forecast period of 2016 to 2014, the report finds.
This is despite a growing population of men who suffer from testosterone deficiency between the age of 40 to 79. Testosterone replacement therapy, such as AbbVie’s AndroGel, is used to treat men with low testosterone due to injury or defect, a condition known as hypogonadism. It is not intended for men with a natural age-related drop in the male hormone.
Aggressive marketing by manufacturers of testosterone therapy have used direct-to-consumer ads to lure men into asking their doctors about testosterone treatment, which has led to escalating prescriptions of the drug. But sales turned sharply after studies showed that testosterone replacement therapy was linked to an increased risk of heart attacks, strokes, blood clots and death.
The industry took another hit when the Food and Drug Administration (FDA) ordered testosterone makers to reword the indication on the safety label of their products indicating that the medication is only for men with hypogonadism and not age-related drops in testosterone. The agency also ordered testosterone makers to collect safety data to better understand testosterone side effects.
“There is a modest level of apprehension among people about the side effects caused due to the use of the testosterone replacement therapy,” the report states. “Risk of developing metabolic and cardiovascular diseases is also impeding the growth of the market of testosterone replacement therapy products. There are several studies and reports which have indicated the ill effects of the therapy owing to which FDA has issued ample warnings about the possible risks. This has caused a large number of patients to see the testosterone replacement therapy in a negative shade of light.”
Source: Edition Truth