The global urinary retention therapeutics market is set to experience substantial growth, projected to reach a valuation of USD 7.5 billion by 2033, with a notable CAGR of 8.11% during the forecast period. This significant expansion is driven by various factors, including the rising prevalence of urinary incontinence (UI) and the increasing incidence of urological disorders worldwide.
Urinary incontinence, often caused by factors such as urinary tract infections, weakening pelvic floor muscles, menopause, pregnancy, childbirth, and post-radical prostatectomy surgery in men, has become a prevalent health concern globally. Consequently, the demand for effective urinary retention therapeutics is expected to surge, fueling market growth.
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Moreover, advancements in urinary incontinence devices and the development of minimally invasive treatment options have further propelled the expansion of the urinary retention device market. The aging population, which is more susceptible to urological issues, coupled with a growing preference for advanced treatment methods over traditional approaches, is expected to drive market growth in the coming years.
The growth of the urinary retention therapeutics market is also supported by the escalating risk of urological disorders among individuals worldwide. As awareness about these conditions grows and healthcare infrastructure continues to improve, the market is poised for robust growth in the foreseeable future.
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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