Global Testosterone Replacement Therapy (TRT) Market to Reach US$5.0 Billion by 2017, According to New Report by Global Industry Analysts, Inc

GIA announces the release of a comprehensive global report on Testosterone Replacement Therapy (TRT) market. The global TRT market is projected to reach US$5.0 billion 2017. Growth opportunities in the market remain significant given the low penetration of TRT in both developed and underdeveloped countries. In addition to increasing awareness, aging population across the world also contributes to the high growth rate in the TRT market.

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Testosterone Replacement Therapy (TRT): A Global Strategic Business Report

San Jose, California (PRWEB) April 03, 2012

Follow us on LinkedIn – Testosterone replacement therapy (TRT) have been in existence in the market from the 1930s, yet the market has gained momentum only during the past decade with the introduction of topical gels. Since then, growth in the TRT market has exploded, with average growth rate exceeding 20% annually. Testosterone replacement therapy (TRT) is now considered a highly lucrative and evolving segment with current treatment penetration rate standing at significantly low levels, both in developed and underdeveloped countries. Despite high incidence rate, diagnosis and treatment rate for TRT remains below 12% even in the US, the most developed market for testosterone replacement therapy. The condition remains less diagnosed in other markets including developed regions such as Europe and Japan. Growth in the market is picking up, geared by rising awareness about hypogonadism or testosterone deficiency and its treatment, among both patients and physicians. Besides this, the availability of wider range of treatment options, an aging population, and aggressive promotion activity by large pharmaceutical companies to educate both patients and physicians is expected to further expand market gains.

As stated by the new market research report on Testosterone Replacement Therapy, the US continues to remain the largest and fastest growing market. Most of the developing countries remain highly under penetrated in terms of testosterone replacement therapy. However, rapid economic development as well as a surging elderly populace with high disposable income provides players with vast untapped opportunities. The potential for development in emerging countries can be gauged from the fact that India and China combined together hold more than 80 million population above the age of 65. Segment-wise, Gels represent the predominantly used therapy, accounting for a lion’s share of the value sales. The segment is expected to garner greater market share following the recent introduction of new gel based formulations including Axiron, Androgel 1.62%, and Bio-T-Gel. In addition, several other gel-based formulations are in the pipeline and undergoing clinical trials. Though the use of injections has declined significantly in the US subsequent to the introduction of gels, they retain significant market share in the European market.

Select market players profiled in the report are include Abbott Laboratories, Acrux Limited, Auxilium Pharmaceuticals, Bayer Schering Pharma AG, Columbia Laboratories,
Eli Lilly and Company, GlaxoSmithKline plc, ProStrakan Group PLC, Trimel, and Watson Pharmaceuticals.

The research report titled "Testosterone Replacement Therapy (TRT): A Global Strategic Business Report" announced by Global Industry Analysts, Inc., provides a comprehensive review of trends, issues, strategic industry activities, and profiles of major companies worldwide. The report provides market estimates and projections (US$ Million) by major geographic markets including the US, Canada, Europe, Asia-Pacific, Latin America and the Rest of World. Key segments analyzed include Gels, Patches, and Others.

For more details about this comprehensive market research report, please visit –
http://www.strategyr.com/Testosterone_Replacement_Therapy_TRT_Market_Report.asp

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.

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