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Genitourinary Drugs Market is Likely to Achieve a Valuation of USD 28,200 Million by 2023, Says MRFR

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Genitourinary Drugs Market is Likely to Achieve a Valuation of USD 28,200 Million by 2023, Says MRFR

August 31
18:12 2019
Genitourinary Drugs Market is Likely to Achieve a Valuation of USD 28,200 Million by 2023, Says MRFR

Genitourinary Drugs Market
As per Market Research Future reports, the Global Genitourinary Drugs Market is expected to achieve a valuation of USD 28,200 million at a CAGR of 1.65% during the forecast period (2018–2023). Genitourinary Drugs Market: Information by Disease (Urinary Tract Infections, Erectile Dysfunction, Hematuria, and Others), Product (Urological, Hormonal Therapy, and Others), End-User(Hospitals, Super specialty clinics) — Global Forecast till 2023

Genitourinary Drugs are used for the treatment of medical complications that are related to kidney, bladder, ureter and urethra. The combination of products for the treatment of urinary tract infections is the new trend that is emerging in the genitourinary disorder drugs market. The global genitourinary drugs market is on its proliferating stage which is expected to expand substantially during the forecast period. This proliferation of the market is backed by emerging factors or existing factors.

Genitourinary Drugs Market – Key Players

The notable market players contributing majorly to the Global Genitourinary Drugs Market are listed as

  • Abbott
  • Astellas Pharma Inc.
  • AstraZeneca
  • Pfizer Inc.
  • Eli Lilly and Company
  • Genentech, Inc.
  • Immunex Corp.
  • GlaxoSmithKline plc.
  • Ionis Pharmaceuticals
  • Merck & Co., Inc.
  • Novartis AG
  • Bristol-Myers Squibb Company
  • Antares Pharma
  • Bayer AG

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Genitourinary Drugs Market – Drivers & Trends

As per the research, the advancements in technology is helping in increase of patients for treatment, thus resulting in effective results. With the help of technology, patients are being treated well and reducing diagnostic time. this is one of the key factors that is driving the global genitourinary drugs market to evolve and expand substantially over the time.

On the other part, factor such as growing incidence of drug production for genitourinary disease is fueling the clinical urgency with targeted therapy mechanisms. This is triggering the global genitourinary drug market to expand profoundly in the years to come and would present growth opportunities in the approaching time period.

Moreover, rising expenditure on research & development coupled with collaborative strategies adopted by the key market players are contributing to the growth of the market. As per MRFR’s research, in October 2018, Novartis AG signed a licensing agreement with Boston Pharmaceuticals for manufacturing and marketing of its three anti-infective products LYS228, IID572, and MAK181.

On the flip side, other factors such as increasing emergence of counterfeit drugs, rising generics drug competition, and high figure of patent expirations may hinder the growth of the market during the assessment period.

Genitourinary Drugs Market – Segmentation

As per the report published by MRFR, the Global Genitourinary Drugs Market has been segmented based on disease, product, and end-user.

In terms of disease, the market has been classified into urinary tract infections, erectile dysfunction, urinary incontinence & overactive bladder, kidney/renal cancer, genitourinary cancer, bladder cancer, bladder cancer, cervical cancer, sexually transmitted diseases, interstitial cystitis, hematuria, ovarian cancer, prostate cancer, and others.

In terms of product, the market has been segmented into urological, hormonal therapy, gynecological, and anti-infectives.   

In terms of end-user, the market has been segmented into hospitals, clinics, super specialty centers, and others.

Genitourinary Drugs Market – Regional Outlook

By region, the Global Genitourinary Drugs Market has covered the main regions of Americas, Europe, Asia-Pacific, and the Middle East & Africa.

Among these, the Americas are likely to lead the global genitourinary drugs market in support of factors such as rising prevalence of genitourinary disorders in aging population, increase in high expenditure for healthcare, and presence of well-established healthcare system. According to the National Kidney Foundation, Urinary tract infections (UTIs) are responsible for nearly 10 million doctor visits each year and approximately 20% women suffer from UTI at least once in a life.

The European market is expected to be the second-largest Genitourinary Drugs Market with the factors such as increasing research and development, rise in number of chronic diseases such as diabetes, and government initiatives for the development of healthcare sector. According to the International Diabetes Foundation, diabetes is major health concern in European region and in 2017, approximately 9.1% of total European population was suffering from diabetes.

Asia-Pacific is expected to be the fastest-growing genitourinary drugs market during the forecast period owing to the swelling geriatric production. There has also been a significant rise in number of genitourinary disorders, investments in healthcare and expansion of regional market players. According to United Nations, Department of Economic and Social Affairs, in 2016, 12.4% of total population in Asian countries was 60 year or older.

In Middle East & Africa, the market is expected to hold the smallest share of the global genitourinary drugs market owing to lack of technical knowledge, undeveloped healthcare sector, and poor medical facilities.

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

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