Global Androgens and Anabolic Steroids Market - 2022-2029

Global Androgens and Anabolic Steroids Market - 2022-2029

Market Overview

The global androgens and anabolic steroids market size was valued US$ XX million in 2020 and is estimated to reach US$ XX million by 2029, growing at a CAGR of XX% during the forecast period (2022-2029).

Di-hydro-testosterone, testosterone, and other anabolic steroids are examples of male sex hormones and anabolic steroids. Androgen and anabolic steroids promote the growth of male sex organs and male sexual characteristics such as beard growth and voice deepening. Anabolic steroids stimulate the growth of various tissues, including muscle and bone. Anabolic effects cause an increase in red blood cell formation. Androgens and anabolic steroids are used to treat breast cancer in women, impotence, hypogonadism in men, and replacement therapy for adolescent boys experiencing delayed puberty. Androgens and anabolic steroids are also used to treat hormonal imbalances, weight loss, osteoporosis, and anemia, among other things.

Market Dynamics

The commercial center for androgens and anabolic steroids is growing as the geriatric population grows, as more men are susceptible to hypogonadism. In addition, as men's weight problems worsen, the market for androgens and anabolic steroids grows. The expanding unfavorable health state, particularly in developing countries, is expected to fuel market expansion during the forecast period.

Increasing trends among youngsters for bodybuilding is creating robust development will drive the market growth

One of the major factors driving the androgens and anabolic steroids market is the growing popularity of bodybuilding among young people. Steroids are the performance-enhancing substance that is utilized all over the world. The demand for steroids has expanded dramatically due to the increase in sporting events, which has a favorable impact on the global market for steroids. Steroids can enhance pubic and facial hair growth. It not only improves attention and ambition, but it also deepens the voice. As a result, steroids are beneficial to excessively feminine hormones.

Furthermore,the expansion of the overall androgens and anabolic steroids market is attributable to increased government endeavors for better human services. Throughout the projected period, the global androgens and anabolic steroids market is expected to grow due to an increase in hypogonadism among males. During the projection period, an increase in impotence among men due to weight problems and fatigue is expected to boost demand for androgens and anabolic steroids. Hypogonadism affects 4 to 5 million men in the United States, and while it can affect men of any age, low testosterone levels are more frequent in older men. More than 60% of men over 65 have free testosterone levels that are lower than those of men in their 30s and 35s. (Source:Boston University School of Medicine). Erectile Dysfunction affects roughly 10% of males every decade of their lives. Erectile Dysfunction affects 50 percent of men in their 50s, for example. (2019, University of Wisconsin Health).

Furthermore, the proportion of the world's population aged 60 and up will nearly double from 12 percent to 22 percent between 2015 and 2050.By 2023, the number of persons aged 60 and more will outweigh youngsters under five.By 2050, 80% of the world's elderly will live in low- and middle-income countries.The population is aging at a considerably higher rate than in the past.(Source:World Health Organization).This contributes to the growth of the global androgens and anabolic steroids market.

Side effects of steroids is likely to hamper the market growth

Steroid use comes with many negative side effects, including fast mood changes. Heart problems, fertility troubles, testicular shrinkage, and excessive hair growth in women are stifling the worldwide steroid market's expansion. Any drug's use is restricted because the government establishes guidelines to monitor how and where the medications are utilized. This is expected to influence the market for androgens and anabolic steroids negatively. Furthermore, these medicines have negative effects that may cause them to be used less frequently. To overcome these limitations, the market must continue to develop and upgrade.

COVID-19 Impact Analysis

During the COVID-19 pandemic, the androgens and anabolic steroids market had shrinked significantly. The pandemic has made it tougher to bring new medications to market in the hopes of earning market share or reaching sales projections. Aside from new diagnoses and regimen switching, marketing channels aren't as strong as before the epidemic. The few open channels continue to be dominated by COVID-19 programming. COVID-19 has slowed down clinical trials across the board, notably those in the early stages of development. As traditional study sites closed, researchers were often unable to collect data remotely, and many patients became less willing to participate. Some therapeutic fields were particularly heavily damaged. While some development time can be made up, there are concerns about resource allocation and digital technology expenditures to keep trials running now and in the future.

Segment Analysis

The injection segment is expected to grow at the fastest CAGR during the forecast period (2022-2029)

The injections segment is being propelled by high unmet demands, rising prevalence of bone and joint illnesses, government awareness campaigns for joint disorders, an increase in obese population due to bad lifestyles, and advantageous health care insurance coverage. Globally, 50 million people have been diagnosed with some form of arthritis, according to the Statistic Brain Research Institute. Other factors driving the worldwide steroid injections market include rising health awareness, advancements in steroid injection treatment, and increased demand for steroid injections.

Arthritis affects nearly 180 million individuals in India, according to Arthritis-India. Many well-known diseases, such as diabetes, AIDS, and cancer, have a higher prevalence than this. By 2025, India will be the world's osteoarthritis capital, with over 60 million people expected to be affected.Due fast and effective results the demand for steroid injections are increasing rapidly resulting in the growth of this segment.

Geographical Analysis

North America region holds the largest market share of global androgens and anabolic steroids market

The anabolic steroid market in North America held the largest market share because of the increased occurrence of breast cancer in women. According to numerous studies, breast cancer is one of the leading causes of death in the United States. Because of the rapid occurrence of hypogonadism in men and delayed puberty in teenage boys, Europe has the second biggest proportion of the anabolic steroid industry. Breast cancer is one of the most common cancers among women, regardless of race or ethnicity, according to the Centers for Disease Control and Prevention (CDC) statistics from 2018. It is also the third-leading cause of cancer death in American Indian/Alaska Native women.

Breast cancer was the most common type of cancer in 2020, according to a Globocan report, with a prevalence rate of 11.7 percent. According to the same report, Asia had the highest five-year prevalence rate for both sexes at 3,218,496 (41.3 percent), followed by Europe at 2,138,117 (27.4 percent) and North America with 1.189,111 people (15.3 percent ). The Asia Pacific anabolic steroids market is predicted to grow rapidly over the forecast period, owing to increased government measures to combat breast cancer.

Improved prevalence of impotence, hypogonadism in men, and late puberty in adolescent boys are expected to enhance the anabolic steroids industry in the Middle East and Africa. Due to faster government tasks in the fitness care sector, the market in Latin America is expected to grow strongly at some point during the forecast period.

Competitive Landscape

The androgens and anabolic steroids market is moderately competitive with presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include Valeant , Endo Pharmaceuticals Solutions Inc, Taro Pharmaceuticals Inc, Antares Pharmaceuticals Inc, Actavis Pharmaceuticals Inc, Pfizer, Unimed Pharmaceuticals, GlaxoSmithKline plc. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the androgens and anabolic steroids market globally. For instance, in November 2018, Antares Pharma announced the commercialization of XYOSTEDTM (Testosterone Enanthate) Injection — a new treatment for adult men with testosterone deficiency.

Endo Pharmaceuticals Solutions Inc

Overview: Endo International PLC is a specialty pharmaceutical firm that specializes in pain treatment, urology, orthopedics, endocrinology, bariatrics, and other fields. Branded Pharmaceuticals, Sterile Injectables, Generic Pharmaceuticals, and International Pharmaceuticals are the company's four segments.

Product Portfolio:

Aveed: Aveed is a testosterone-containing prescription medication. Aveed is a prescription medication for adult males who have little or no testosterone due to certain medical disorders. Aveed is exclusively prescribed to adult males who require testosterone replacement therapy and whose benefit outweighs the risk of POME and anaphylaxis.

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