Some of the key players in the global testosterone replacement therapy market include names such as Allergan Plc., AbbVie Inc., Bayer AG., Eli Lilly and Company, Endo Pharmaceuticals, Kyowa Kirin International Plc., Novartis AG., Mylan N.V., and Pfizer Inc. among others. The global market for testosterone replacement therapy is a little bit consolidate with the existence of a few big established companies and the presence of some domestic vendors that are playing their trade in the global market. Companies are now focusing on product development and innovation to enhance their market presence. Recently, Pfizer’s new drug, Mylotarg, has been approved by the U.S. Food and Drug Administration, for certain patients who suffer from acute myeloid leukemia (AML). More and more companies are inclining towards getting their products sanctioned and get into the market. This will in turn, help in intensifying the competitive market landscape of the global testosterone replacement therapy market over the course of the given forecast period of 2016 to 2024. The top five companies in the global market held over 80% of the total market share in the 2015 out of which AbbVie Inc. has come up on top as the undisputed leader.
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The global market is expected to reach an overall valuation of US$1.3 bn by the end of 2024. This valuation is lower than that found in the year of 2015 of US2.0 bn. The market will show a negative CAGR of -4.2% over the course of the forecast period of 2016 to 2024.
Increasing Number of Hypogonadism Patients Drive Global Testosterone Replacement Therapy Market
Hypogonadism or more commonly known as the testosterone deficiency is a prevailing problem found in men that are aged between 40 to 79 years. Some studies also suggest that nearly 30% of the men across the globe are impacted by this testosterone deficiency problem. As the occurrence of such cases increase in number, the demand for testosterone replacement therapy is also expected soar subsequently.
Along with this major factor, another important driving factor for the growth of the global testosterone replacement therapy market is the increasing geriatric population across the world at a steady pace. This points to huge demographic target for the companies in the global testosterone replacement therapy market. It is expected that number of men reporting deficiency of testosterone will increase across the world as the number of older population will rise. In addition to these two factors, there is a growing awareness among the world population about the deficiency of testosterone and they are taking measures to tackle the problem. This will subsequently help in boosting the growth prospects of the global testosterone replacement therapy market.
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Ill Effects of Testosterone Replacement Therapy May Impede Market Growth
However, there are some problems which are projected to cause some problems in the development of the global testosterone replacement therapy market. There is a modest level of apprehension among people about the side effects caused due to the use of the testosterone replacement therapy. 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.
In addition to this, the global market is nearing a cliff related to the patent approval issue. It is expected that the market for testosterone will face a problem of imminent expirations of patents and may lead to impeding the growth of the market in the coming years. However, with several drivers working in favor of the therapy, the market will witness a steady growth during the given forecast period of 2016 to 2024.
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The global cardiac rehabilitation market largely consist of a few strong players who exert control over the entire market. This makes the vendor landscape immensely consolidated, thus, barring the entry and establishment of new players. Transparency Market Research (TMR) prognosticates that product innovations would play a major role in deciding the course of the competitive landscape. The leading market players are expected to keep introducing novel products to retain their dominance in the market. The top two market players viz. Technogym and Brunswick Corporation held more than 50% of the total market share in 2015. The other two key players, Amer Sports and Johnson health Tech Co. are also on the run for a greater market share. All the companies mentioned above collectively accounted for approximately 70% of the global market share in 2015. There are tremendous opportunities for investors because the market is buzzing with the advent of new technologies. The rivalry amongst the established players has been intensifying and the demand in the market has been rising. Owing to these factors, there are lucrative opportunities resting within the market.
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The estimations made by Transparency Market Research portray that the market stood at a value of US$1,010.93 mn in 2015 and is expected to elevate to a value of US$1,622.9 mn by the end of 2024. It is also projected that the market would grow at a sturdy CAGR of 5.40% over the period from 2016 to 2024. Based on the type of devices, the highest demand was attracted by elliptical trainer segment. The segment accounted for 27% of the total demand and this owes to the multiple uses of such devices. Geographically, North America has reigned over all other regions in terms of demand, accounting for 50% of the global demand. Asia Pacific is expected to register a CAGR of 6.80% over the period from 2016 to 2024.
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Measures to Bring Down Mortality Rates Uptick Demand
The global market is driven by the rising instance of cardiovascular diseases. The wayward lifestyles of the populace have increased the risk of diseases and have adversely affected the heart rates of individuals. In recent times, the initiatives of healthcare centers to inform people on the importance of cardiovascular health has created a sense of awakening across the world. This has proliferated the demand within the cardiac rehabilitation market. Furthermore, cardiac disorders, dysfunctions, and diseases have contributed to the high rates of mortality and morbidity. The quest of national governments to enhance the healthcare index has driven the demand for cardiac rehabilitation. The geriatric population has also been on a rise in recent times, which further escalates the demand for cardiac rehabilitation. Since the risk of cardiovascular diseases in people aged above 60 years, it is vital to have a swift mechanism of treatment for this section of the population. The concerted efforts of international bodies such as the WHO are expected to enhance the market.
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High Costs of Cardiac Rehabilitation Products Could Obstruct Market Growth
The technologies employed within the domain of cardiac rehabilitation are complex and expensive. This makes the cost of products within the market unaffordable for a large population. The restraints on the market intensify when new technologies outdo the cardiac rehabilitation products. The high capital and intensive research employed in cardiac rehabilitation products make it difficult to regulate the costs. Furthermore, the enrolments in cardiac rehabilitation programs are low which adds to the woes of the market. However, the formulation of flexible schedules for cardiac rehabilitation programs can help in overcoming this problem.
Takeda Pharmaceuticals Company, Ltd., with its approved drug Amitiza, holds a majority share in the global opioid induced constipation treatment market. In 2014 the top three players – Takeda, Valeant Pharmaceuticals International, Ltd., and Boehringer Ingelheim – operated on a collective share of 91.8% of the global market.
This is a highly consolidated market but with a large scope for the prominent players to penetrate regions other than North America.
Transparency Market Research’s recent publication reveals the possibilities that players in the global market for opioid induced constipation treatment can take up to improve their global standing in the market. This includes reaching out to the emerging economies and gain shares from a currently untapped market.
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The global market for opioid induced constipation treatment is expected to progress at a highly positive CAGR of 31.2% within a forecast period from 2015 to 2023 with respect to revenue. By the end of 2016, this market is expected to generate US$731.2 mn, which is projected to reach US$4.81 bn by the end of 2023.
Chloride channel activators are the more popular drug class among all opioid induced constipation treatments currently available. Over time, PAMORAs are expected to overtake them owing to a large number of pipeline drugs close to approval. By the end of 2023, PAMORAs are expected to generate a revenue of US$2.41 bn.
North America to Continue Generating Leading Demand for OIC Treatments
North America is expected to continue dominating the demand for opioid induced constipation treatments till 2023, owing to a majority consumption of opioids. The American Society of Interventional Pain Physicians has stated that in 2013, the U.S. alone was responsible for nearly 80% of the global consumption of opioids. Key reasons for this high consumption include the legal acceptance of opioids for pain treatment by the U.S. FDA, and the high awareness consumption level of opioids for the long term treatment of chronic pain.
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By the end of 2023, it is predicted that North America will generate US$4.05 bn in revenue for the providers of opioid induced constipation treatments.
A secondary reason for this high volume of consumption is also related to the extremely low awareness rates of available opioid induced constipation treatments in other regions.
Multiple OIC Drug Approvals Imminent, Demand Expected to Rise Accordingly
“Most certainly the leading driver for the growth in demand of opioid induced constipation treatments is the awaited approval of several drugs that are in the pipeline. Naldemedine is one of the stronger contenders which is expected to be released before the end of 2016,” states a TMR analyst.
Furthermore, the increasing development rate of peripheral mu-opioid receptors is expected to generate a giant boost to the preference of OIC-specific treatments. PAMORAs allow for the effective treatment of OIC without interfering in the opioids action on the patient’s pain.
Standard Laxatives Still Considered a Challenge to OIC Treatments
One of the greater restraints currently acting on the demand for opioid induced constipation treatments is the widespread consideration of standard laxatives for countering OIC. The primary reason for this is the high disparity between the pricing of standard laxatives and targeted OIC drugs.
At the same time, the relatively under-researched position of opioid induced constipation treatments needs to be worked on. Most of these drugs are showing several adverse effects, including nausea as well as increasing the risk of heart problems and strokes.
“A way out for opioid induced constipation treatments is to improve the scope of development to reduce their side effects and improve efficacy. There is currently a giant untapped market for opioid induced constipation treatments across the world, and investing more in marketing and R&D will definitely help players penetrate it,” adds the analyst.
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- Solid drugs are expected to generate US$4.48 bn in opioid induced constipation treatment by 2023.
- Mu-opioid receptor antagonists expected to generate US$2.41 bn in opioid induced constipation treatment drug classes by 2023.
- North America expected to create US$4.05 bn in opioid induced constipation treatment by 2023.
Transparency Market Research has estimated that the global knee cartilage repair market will reach the value of US$2.7 bn by the end of 2023, from its initial value of 1.6 bn in 2014. The market is expected to exhibit a growth trajectory of CAGR 5.80% during the forecast period of 2015–2023.
Geographically, North America held a dominant share in 2014, accounting for 40.7% share of the global market. This region is expected to sustain its leading position over the forecast period owing to introduction of technologically advanced products, rise in incidence of obesity, and increase in orthopedic procedures.
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Increase in Geriatric and Obese Population to Fuel Growth
The global market for knee cartilage repair is driven by changing lifestyle and increase in geriatric population around the world, along with growing trend of outdoor events and sports activities among young as well as old generation. The sedentary lifestyle and unhealthy dietary regimen followed by population in urban areas have resulted in increasing incidence of conditions such as arthritis among urban population. Furthermore, the lifestyle followed by urban population doesn’t focus more on regular exercises, which makes bones and joints more vulnerable towards injuries. Obese and the elderly populations are highly disposed to degenerative diseases such as rheumatoid arthritis, osteoarthritis, and other strain injuries. The other key factors driving the growth of the market for knee cartilage repair are increase in number of falls leading to severe knee damage and deformities, industrial accidents, and road accidents.
Knee cartilage repair is advantageous for conditions such as slow-healing wounds, delayed unions, and mal-unions. Innovation are being carried out in the development of knee cartilage repair equipment and products, which is further expected to help the market expand.
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Side Effects Due to Off-Label Practice act as Restraining Factor
Lack or poor reimbursement in developing nations encouraging innovative technologies is limiting this market to grow at its full potential. Furthermore, due to negative media information pertaining slow tissue recovery and side effects due to off-label practice of particular equipment are acting as restraining factors for this market. However, growth in arthroscopic chondroplasty segment is expected to sustain the overall market for knee cartilage repair over the forecast period. This is a procedure in which the injured tissues are removed, which helps new and strong cartilage to grow. Arthroscopic chondroplasty is used prominently for meniscal tears, and rise in number of meniscal tears is expected to expand the market for arthroscopic chondroplasty. Furthermore, increasing prevalence of obesity and diabetes are most likely to fuel the market growth. Diabetes results in loss of cartilage, making patients more prone to bones and joints injuries. Latin America and MEA region are highly subjected to increasing obese population, fueling the demand for advanced cartilage repair products helping the overall market to grow.
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The global knee cartilage repair market is highly consolidated as the top five players operating in this market accounted for 74.7% of the overall market in 2014. These players are DePuy Synthes, Smith & Nephew plc, Zimmer Biomet Holdings Inc., B. Braun Melsungen AG, and Stryker Corporation. Transparency Market Research (TMR) has revealed that these companies have established firm roots in the market and are focusing on product innovation and engaging in strategic mergers and acquisitions to remain at fore.
Braun Melsungen AG, Fresenius SE & Co. KGaA, and Baxter International, Inc., who collectively held 71% of the global parenteral nutrition market, are focusing on improving their line of products, reports Transparency Market Research. The trend of winning approvals for their new formulations from concerned authorities is also helping them gain a significant footprint in the market, observes TMR.
Strategic joint ventures are also being considered by companies to expand their businesses and enhance their product portfolio in the near future. “Plans to expand manufacturing facilities are also underway. This move will help companies ensure utmost safety, unquestionable quality, and remarkable efficiency of the product,” asserts the head analyst of this report.
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Parenteral Nutrition Becomes Critical to Saving Lives – A Key Growth Enabler
The focal point of parenteral nutrition is to provide chronically ill patients adequate nutritional support. The high incidence of chronic conditions such as cancer, gastro-intestinal disorders, ischemic bowel disease, diabetic complications, and Crohn’s disease amongst others is propelling the demand for parenteral nutrition. As this form of oral nutritional supplement becomes the only way of treating the immobilized patient, the demand for these nutrients is witnessing a phenomenal rise.
According to the World Health Organization about 11% of the global burden of disease is due to malnutrition and is considered to be a huge risk to human life. As this number will increase in the coming years citing issues of political unrest, food security, and changing environmental conditions, the demand for parenteral nutrition will remain persistent.
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Side Effects of Parenteral Nutrition Hamper Market Growth
The global parenteral nutrition market faces the huge risk of health complications due to poor monitoring. The American Society for Nutrition also stated that prolonged usage of parenteral nutrition therapy can lead to metabolic complications and liver diseases. Furthermore, shortness of breath, allergic reactions, muscle pain, and unexplained weight gain are also hampering the growth of this market.
However, a large patient pool in emerging economies of China, Brazil, India, and Brazil offer a tremendous scope for growth to the parenteral nutrition market. Furthermore increasing investment by leading players in the developing regions of Asia Pacific and Latin America to increase production of parenteral nutrition is also expected to create large opportunities to register a high growth.
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Large Patient Pool in Asia Pacific Makes it Leading Segment
The research suggests that the opportunity of the global parenteral nutrition market will be worth US$6,874.1 mn by the end of 2023 from US$4,097.4 mn in 2014. The market is expected to expand at a steady CAGR of 5.7% from 2015 and 2023. On the other hand, Asia Pacific will the key geographical segment as it will expand at a CAGR of 7.3% in the forecast period due to growing cases of chronic diseases such as cancer and AIDS. The parenteral lipid emulsion nutrient segment will grow at the highest CAGR of 6.2% during the same forecast period, leading the overall nutrient segment.
- High prevalence of chronic diseases and related malnutrition speeds up consumption of parenteral nutrition in healthcare facilities.
- Seeking approvals for new formulations becomes an important strategy for companies to gain market presence.
- Large patient pool and high incidence of cancer and AIDS makes Asia Pacific an attractive market.
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