Genitourinary Drugs Market is Set to Experience Revolutionary Growth 2027
The global genitourinary drugs market may find better growth prospects with surging demand and expanding healthcare. Genitourinary drugs are expected to dominate a large part of the pharmaceuticals market. Genitourinary drugs refer to pharmaceuticals used to treat diseases of the urinary and genital organs such as kidneys, ureters, bladder, urethra, and others. The large spectrum of diseases originating from these organs drives a large market for genitourinary drugs.
According to Market Research Future (MRFR), the global genitourinary drugs market accounts for a valuation of USD 28,200 MN in 2018. In its recently published analysis, MRFR also asserts that the market would register a CAGR of over 1.65% over the assessment period (2018-2023). Growing demand for genitourinary drugs owing to growing prevalence of genitourinary diseases and expanding healthcare are the key driving force behind the substantial market demand.
According to the Centers for Disease Control and Prevention, urinary tract infections are the most common infection demanding medical care and causing almost 9.6 million ambulatory care visits. The economic burden of urinary tract infections is almost US$ 2 Bn annually. Urinary tract infections also are the leading cause of antibiotic use in the U.S.
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Surging healthcare expenditure, growing world population, and growing per capita income can trigger better growth for the market. The expansion of healthcare infrastructure, including the dramatical increase in the number of hospitals and clinics, can bolster the growth of the market. The growing number of geriatrics is another driver of the market. According to the Department of Economic and Social Affairs of the U.N. almost 12.4% population in the Asian countries are more than 60-year-old.
Competitive Analysis
The key 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.
Segmentation Analysis
The global market report on the genitourinary drugs, as discussed and analyzed by MRFR experts, has been segmented by product, disease, and end-user. These segments and their extensive data based on substantial figures, facts, graphs, charts, and others can help in triggering the market growth.
- By Product, the market has been studied on the basis of hormonal therapy, gynecologicals, urologicals, and anti-infectives.
- By Disease, the study on the genitourinary drugs market comprises erectile dysfunction, urinary tract infections, kidney/renal cancer, genitourinary cancer, urinary incontinence & overactive bladder, cervical cancer, bladder cancer, interstitial cystitis, hematuria, sexually transmitted diseases, prostate cancer, ovarian cancer, and others.
- By End-user, the global market report on the genitourinary drugs includes clinics, super-specialty centers, hospitals, and others.
Regional Analysis
By region, the global genitourinary 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.
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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.
