by Undescended testicle, also known as cryptorchidism, is a common birth defect in newborn boys where one or both testicles fails to descend from the abdomen into the scrotum. Undescended testis surgery involves surgically correcting the position of the undescended testicle into the scrotum through an incision in the groin or lower abdomen area. The global undescended testicle market involves medical devices and pharmaceutical drugs used for the diagnosis and treatment of cryptorchidism. Key medical devices include surgical sutures and ligatures, trocars and cannulas, and scalpels and blades. Pharmaceutical drugs mainly comprise of hormones like human chorionic gonadotropin that help induce and assist in the natural descent of undescended testis. The rising incidence of cryptorchidism and increasing number of surgical procedures to correct undescended testis are major factors expected to drive the growth of the global undescended testicle market.
The global Undescended Testicle Market is estimated to be valued at US$ 4.51 billion in 2023 and is expected to exhibit a CAGR of 7.3% over the forecast period 2023 to 2030, as highlighted in a new report published by CoherentMI.
Market Dynamics:
The global undescended testicle market is expected to be flourished by the rise in key surgical procedures to correct undescended testis. As per findings, the incidence of cryptorchidism ranges between 1-4% globally. Early surgical repair of undescended testes is important to prevent infertility and testicular cancer in later life. This is a key factor fueling the number of orchiopexy surgeries worldwide. According to sources, around 65,000 orchiopexy procedures are performed annually in the United States alone for correcting undescended testis. The increasing public awareness regarding the benefits of early surgical intervention and risk factors associated with leaving testes undescended is further promoting surgical correction rates.
Another driver for the market growth is the increasing popularity of minimal invasive procedures for correcting cryptorchidism. Advanced laparoscopic and robotic techniques are gaining precedence over traditional open surgeries due to benefits such as lesser pain, fewer incisions, lower risks of infection, and faster recovery. The adoption of minimally invasive approaches is expected to boost the demand for surgical devices and technologies in the global undescended testicle market during the forecast period.
Segment Analysis:
The global undescended testicle market is dominated by the hospital segment which holds around 60% of the overall market share. This is because most surgeries related to undescended testicles are performed in hospitals. Hospitals have advanced facilities and skilled surgeons which make it the preferred choice for such surgical procedures. The clinics segment is the second largest segment and is expected to grow at a faster pace during the forecast period owing to increasing popularity of minor surgeries being performed in clinics.
PEST Analysis:
Political: Government initiatives aimed at raising awareness about undescended testicles and availability of treatment options are helping drive market growth. Regulations regarding safety and efficacy of drugs are positively impacting the market.
Economic: Rising healthcare spending and growing medical insurance coverage are augmenting demand for treatment of undescended testicles. Growing economies provide ample opportunities.
Social: Increasing health consciousness among parents regarding children’s healthcare is propelling the market. Social stigma associated with undescended testicles is driving people to seek treatment.
Technological: Advancements in minimally invasive surgery techniques are making treatments safer and effective. New drug formulations are expanding treatment options.
Key Takeaways:
The global Undescended Testicle Market Size is expected to witness high growth at a CAGR of 7.3% during the forecast period of 2023 to 2030. The global Undescended Testicle Market is estimated to be valued at US$ 4.51 billion in 2023 and is expected to exhibit a CAGR of 7.3% over the forecast period 2023 to 2030.
North America dominates currently due to advanced healthcare infrastructure and rising awareness. The Asia Pacific region is expected to be the fastest growing market owing to improving healthcare access and increasing patient pool.
Key players operating in the global undescended testicle market are Ferring Pharmaceuticals, Pfizer, Eli Lilly and Company, Sanofi, Merck & Co., Bayer AG, Endo International, AstraZeneca, Johnson & Johnson, and Takeda Pharmaceutical. Ferring Pharmaceuticals leads the hCG segment with its Prepidil and Ovidrel brands being widely used for testicle descent before surgery. Eli Lilly has a significant market share with Cetrotide being a leading GnRH analogue prescribed before surgical correction of undescended testicles.
*Note:
1.Source: CoherentMI, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
