According to a recent study by Future Market Insights (FMI), the Global Urinary Tract Infection (UTI) Treatment Industry is expected to exhibit moderate growth, with revenue projected to increase at a 2% compound annual growth rate (CAGR) between 2019 and 2029. The growth can be attributed to the increasing prevalence of UTIs and the subsequent rise in the number of prescriptions for quinolone antibiotics.
Novel Therapeutics Development and Regulatory Approvals to Sustain Market Growth
Manufacturers are actively engaged in research and development initiatives to introduce new drugs into the market, catering to the unmet needs of patients with bacterial infections. This focus on innovation is expected to sustain market growth, with regulatory bodies such as the Food and Drug Administration (FDA) expediting the approval process for these drugs. The influx of new treatments will not only provide patients with more options but also encourage market competition, ultimately benefiting consumers.
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Recently, in August 2018, Melinta Therapeutics announced the launch of Vabomere (meropenem and vaborbactam) for patients who require treatment for complicated urinary tract infection. Similarly, one more drug has been approved by FDA in June 2018, Zemdri by Achaogen, Inc., for the treatment of adults suffering from Complicated Urinary Tract Infection (cUTI). Increase in the launch and approval of novel therapeutics for the treatment of bacterial infections is expected to contribute to the growth of the urinary tract infection treatment market.
Quinolones, the broad spectrum antibiotics effective against a wide range of bacterial disease, have bactericidal activity that enables them to penetrate deep into the tissue. Their excellent bioavailability is a plus point. In addition, they have favourable tolerability and safety profile. Moreover, they have significant antimicrobial activity. Thus, quinolones are most preferred for the treatment of urinary tract infection. Some of the widely used quinolones for the prevention of bacterial infection include ciprofloxacin (Cipro), ofloxacin (Floxin), norfloxacin (Noroxin), and others. Quinolones are mostly favored over trimethoprim-sulfamethoxazole (TMP-SMX) for the treatment of uncomplicated urinary tract infections owing to the increasing resistance of bacteria towards antibiotics such as trimethoprim-sulfamethoxazole, beta lactam antibiotics, and others
Europe Remains Major Revenue Contributor
Europe holds a considerable revenue share in the UTI treatment market. The rising prevalence of urinary tract infection among the population and increasing hospital visits are among factors that are likely to propel the growth of the urinary tract infection treatment market. It is estimated that the urinary tract infection treatment market will create an incremental $ opportunity worth nearly US$ 9 Mn between 2019 and 2029. Quinolones is anticipated to boost the growth of the urinary tract infection treatment market owing to the increasing prescription and high effectivity as antimicrobial antibiotics.
Demand from Retail Pharmacies to Register High Growth
The global urinary tract infection treatment market has been segmented on the basis of drug class, indication, and distribution channel. On the basis of drug class, the urinary tract infection treatment market has been segmented into Penicillin & Combinations, Quinolones, Cephalosporin, Aminoglycoside Antibiotics, Sulphonamides (Sulfamethoxazole +Trimethoprim), Azoles and Amphotericin B, Tetracycline (Doxycycline), Nitrofurans (Nitrofurantoin), and others. In terms of revenue, the quinolones segment is expected to hold a major share of the urinary tract infection treatment market during the forecast period since it is widely prescribed and has proven to be safe and effective for antimicrobial use.
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Based on indication, the urinary tract infection treatment market has been segmented into complicated urinary tract infection and uncomplicated urinary tract infection. On the basis of distribution channel, the urinary tract infection treatment market has been categorised into hospital pharmacies, gynaecology & urology clinics, drug stores, retail pharmacies, and online drug stores. The retail pharmacies segment is expected to exhibit high revenue growth in the urinary tract infection treatment market owing to the easy availability of antibiotics.
Key Companies in Urinary Tract Infection Treatment Market
The report studies some of the key companies operating in the urinary tract infection treatment market, such as Bayer AG, GlaxoSmithKline Pharmaceuticals Ltd., Pfizer, Allergan Plc, Almirall SA, Bristol-Myers Squibb, and Merck & Co., Inc. For more insights on the competitive landscape and other facets shaping the growth of UTI treatment market.
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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 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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