According to a recent study by Future Market Insights, the global market for urinary retention therapeutics is expected to reach a valuation of USD 3.44 billion by 2023 and is projected to grow to US$ 7.5 billion by 2033, with a compound annual growth rate (CAGR) of 8.11% until 2033. The market growth is expected to be driven by an increase in underactive bladder disorders and cases of urinary incontinence disease. The prevalence of stress urinary incontinence disorder is also on the rise, affecting more than 200 million people worldwide in 2017, according to a report by the American Urological Association.
Additionally, increasing healthcare expenditure by healthcare organizations and government bodies is expected to boost research and development activities related to menopause drugs, clinical trials, and other research activities. This financial support from the government provides growth prospects for the urinary retention treatment market, as it aids in the production and manufacturing of new drugs and devices. Furthermore, rising disposable income of the population is also expected to contribute to the growth of the market.
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Regulatory approvals for drugs are also expected to drive the growth of the urinary retention treatment drugs market. For instance, Astellas Pharma Inc. was granted the United States Food and Drug Administration approval for its supplemental new drug application (sNDA) for the use of mirabegron in combination with the muscarinic antagonist solifenacin succinate for the treatment of overactive bladder disorder with symptoms of urge urinary incontinence. Similarly, Cipla Limited was granted approval of Abbreviated New Drug Application (ANDA) for Darifenacin extended-release tablets from the United States Food and Drug Administration for treating overactive bladder in 2016. These regulatory approvals are anticipated to contribute to the industry’s growth.
Key Takeaways
- North America is expected to dominate the industry while reaching market share of around 49.6 % by end of the forecast period.
- The market in East Asia is projected to witness fastest CAGR of 7.5% during the projected period.
- By incontinence type, ‘Stress incontinence’ is projected to account for 38.2% market share by end of the forecast period.
- Retail pharmacies are expected to dominate the market by distribution channel, with a market share of 57.5 % by 2033.
“The increasing rate of product approvals and surging research and development activities in innovating new drugs and devices for managing the treatment of Urinary retention disorder will fuel market growth in the forecast period,” comments an FMI Analyst
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Competitive Landscape
The Urinary retention therapeutics market is extremely competitive and consists of numerous key industry players. These players are innovating novel delivery systems for treating Urinary retention disorder. This is expected to propel Urinary retention therapeutics market. The key players in this market are: Lupin, Marksans Pharma, Zydus Cadila, Sun Pharmaceutical Industries Ltd, Torrent Pharmaceuticals Ltd, Teva Pharmaceutical Industries Ltd, Aurobindo Pharma, Apotex Inc, Ajanta Pharma, Breckenridge Pharmaceutical, Inc, Alembic Pharmaceuticals Limited, Inventia Healthcare Limited. Some recent developments in the market are:
- In November 2020, BladderCell announced launch of bioelectric treatment clinical study for urinary incontinence.
- In May 2020, Rigicon announced launch of two new artificial urinary sphincter models: ContiClassic Artificial Urinary Sphincter and ContiReflex Artificial Urinary Sphincter.
- In June 2020, Vesiflo, Inc. declared the medicare coverage of inflow urinary prosthesis, a magnetically coupled FDA-approved intraurethral valve-pump device which could be used for 29 days by adult females as an alternative to intermittent catheterization. This results in a contribution to the growth of product business quickly with commercialization in the market.
- In April 2020, Astellas Pharma Europe Limited completed a clinical trial that was conducted on subjects for the treatment of underactive bladder. Currently, ASP8302 is under phase-2 clinical trial to investigate the safety and tolerability of the drug in patients suffering from underactive bladder.
More Insights Available
North America is expected to hold a significant share of the urinary retention market due to the rising prevalence of urinary incontinence and underactive bladder disorders, increasing geriatric population, and growing awareness among people regarding available treatment options. Furthermore, favorable reimbursement policies for urinary retention treatment, increasing healthcare expenditure, and well-established healthcare infrastructure in the region are expected to drive the market growth.
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Key Segments Profiled in the Urinary Retention Therapeutics Industry survey
By Drug Class:
- Anticholinergic/Antispasmodic Agents
- Skeletal Muscle Relaxants
- Antidepressants
- Alpha Blockers
- Topical Estrogens
By Incontinence Type:
- Stress incontinence
- Urge incontinence
- Over-flow incontinence
- Mixed incontinence
By Distribution Channel:
- Hospital pharmacies
- Retail pharmacies
- Online pharmacies
About the Healthcare Division at Future Market Insights
The healthcare team at Future Market Insights offers expert analysis, time efficient research, and strategic recommendations with an objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis on key trends including competitive landscape, profit margin, and research development efforts.
About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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