The global urinary retention therapeutics market is poised for significant growth, with an anticipated valuation of US$ 3.44 billion in 2023, projected to soar to US$ 7.5 billion by 2033. This forecast, revealed in a recent study by Future Market Insights, underscores a compound annual growth rate (CAGR) of 8.11% until 2033.
A key driver behind this growth trajectory is the escalating prevalence of underactive bladder disorders and urinary incontinence disease. Notably, the American Urological Association’s 2017 report disclosed that over 200 million individuals worldwide grappled with stress urinary incontinence disorder in 2017 alone. This condition, which disproportionately affects women with a ratio of approximately 3:1 compared to men, significantly impairs the quality of life for both genders.
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Moreover, heightened healthcare expenditure is catalyzing increased research and development initiatives, clinical trials, and other scientific endeavors focused on addressing urinary retention. This financial support, often facilitated by government bodies, not only facilitates the production and manufacturing of new drugs and devices but also fosters growth opportunities within the market.
Furthermore, the burgeoning disposable income among populations worldwide presents a favorable landscape for market expansion. As individuals have greater financial means, they are more inclined to invest in healthcare solutions, thereby driving demand for urinary retention therapeutics.
In light of these factors, the urinary retention therapeutics market is primed for substantial growth in the coming years. The convergence of rising disease prevalence, increased healthcare spending, and growing disposable income underscores a promising outlook for stakeholders within the sector.
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.
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
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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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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