Testosterone Nasal Gels Market
Testosterone Nasal Gels Market Share Analysis By Indication (Primary hypogonadism, Hypogonadotropic hypogonadism), By Dosage (5mg, 10mg), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Mail Order Pharmacies) & By Region - Global Insights 2021-2031
Testosterone Nasal Gels Market Forecast and CAGR
According to the latest research by Fact MR, the testosterone nasal gels market will experience substantial growth with a CAGR of 3% during the forecast period 2021-2031.
The hormone testosterone is in charge of the development of male sex organs, male fertility, spermatogenesis and secondary characteristics. Testosterone nasal gels are used for the treatment of conditions like hypogonadism. In this condition, the body does not make sufficient natural testosterone. The market is mainly driven by the prevalence of hypogonadism, new product launches and collaborations among the players.
What is Driving Demand for Testosterone Nasal Gels?
For the treatment of hypogonadism and other conditions like Klinefelter syndrome, testosterone replacement therapy is given. During this therapy, supplements containing testosterone is administrated.
The major factors driving the demand for testosterone nasal gels is the rise in prevalence of hypogonadism, new product launches and collaborations among the players. According to a report, Klinefelter syndrome is one of the most common chromosomal disorders in newborns resulting in 1 in every 500 – 1000 newborns.
The prevalence of hypogonadism is common among the older male population ageing above 60 years of age. The increasing ageing population can also act as a driver for the testosterone nasal gels market.
The advantages offered by the testosterone nasal gel over the injectable form is also huge. This includes a less invasive delivery method, self-administered medications, early-onset, etc. these advantages acts as a driver for the market resulting in the surge in demand for testosterone nasal gels during the forecast period.
Impact of COVID on Testosterone Nasal Gels Market
A study conducted by the University of Mersin and the Mersin City Education and Research Hospital in Turkey found that males affected with COVID-19 showed a decrease in testosterone levels. It showed that as the severity of COVID increased, the total testosterone levels decreased leading to hypogonadism. Therefore, this will surge the demand for testosterone replacement therapy hence driving the market.
Regional Outlook for Testosterone Nasal Gels
The market is dominated by the North American region. This is due to the presence of the major player in the market. Natesto is the only FDA approved testosterone nasal gel and is manufactured by Acerus Pharmaceuticals Corporation situated in Canada. To make sales globally, the company collaborates with other companies for marketing its product globally.
For instance, Acerus Pharmaceuticals Corporation in collaboration with Hyundai Pharm Co. launched Natesto in South Korea. Apart from this hypogonadism affects approximately 4 to 5 million males in the U.S. These factors are responsible for growth in this region.
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Who are the Key Manufacturers and Suppliers of Testosterone Nasal Gels?
Some of the leading manufacturers operating in the testosterone nasal gels include
- Acerus Pharmaceuticals Corporation
- Hyundai Pharm Co.
- Endo Pharmaceuticals Inc.
Testosterone Nasal Gels Market Report Highlights:
- Detailed overview of the parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
An Adaptive Approach to Modern-day Research Needs
- Primary hypogonadism
- Hypogonadotropic hypogonadism
By Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Mail Order Pharmacies
- North America
- Latin America
- East Asia
- South Asia
- Middle East and Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
NOTE: Although care has been taken to maintain the highest levels of accuracy in reports, recent market/vendor-specific changes may time to reflect in the analysis.
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Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
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