The global urinary retention therapeutics market size is anticipated to attain an impressive valuation of US$ 3.44 billion in 2023 and is projected to reach US$ 7.5 billion by 2033, expected to register a CAGR of 8.11% until 2033, as per a recently published Future Market Insights study. The market is anticipated to be fuelled by the rising prevalence of underactive bladder disorders and surging cases of urinary incontinence disease. For example, according to American Urological Association 2017 report, more than 200 million people worldwide suffered from stress urinary incontinence disorder in 2017, which can seriously affect the quality of life of both men and women. As a disease whose prevalence is related to advancing age, it affects more women compared to men with an approximate ratio of 3: 1.
On the other hand, increasing healthcare expenditure simultaneously helps healthcare organizations and government bodies in increasing the research and development activities on menopause drugs, their upcoming clinical trials, and other research activities. Furthermore, the cost involved in the production and manufacturing of the new drugs and devices, the market players need sufficient allocation of funds and resources, hence, the government acts as a helping hand in this scenario, which opens up growth prospects for the Urinary retention treatment market. Likewise, surging healthcare expenditure is also beneficial for further economic development and expansion of the healthcare sector. Additionally, rising disposable income of the population is a favorable factor that is expected to drive the market growth of Urinary retention therapeutics market during the forecast period.
Request A Report Sample To Gain Comprehensive Insights! https://www.futuremarketinsights.com/reports/sample/rep-gb-16604
Also, growing number of regulatory approvals for drugs is expected to drive growth of the urinary retention treatment drugs market over the projected period. For example, in 2018, 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. These developments are anticipated to aid in industry’s growth. Likewise, in 2016, 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.
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
If You Have Any Questions, Feel Free To Reach Out To Our Analyst! https://www.futuremarketinsights.com/ask-question/rep-gb-16604
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.
Ignite Innovation with Customization: Uncover the Possibilities in Our Report! https://www.futuremarketinsights.com/customization-available/rep-gb-16604
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
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa
Gain Immediate Access to Detailed Market Insights: Purchase Now! https://www.futuremarketinsights.com/checkout/16604
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
