Genitourinary Drugs Market - Growth, Trends, and Forecast (2020 - 2025)
The rise in the incidence of genitourinary diseases and infections has led to the growth of the genitourinary drugs market, globally. Rising disposable incomes and constant improvements in healthcare infrastructure, increase in investments in R&D activities in developing novel molecules for the treatment of genitourinary diseases, and the increasing number of pipeline drugs are also expected to drive the market, during the forecast period. However, an increasing number of counterfeit drugs and lack of awareness about the infections and drugs for the treatment are going to restrain the market for genitourinary drugs.
Key Market Trends
Urinary Tract Infections to dominate the Global Genitourinary Drugs Market
As there is an increase in the incidence of urinary tract infections, the demand for drugs increases, which, in turn, is driving the global urinary tract infection therapeutics market. Furthermore, the launch of combination drugs, development, and approval of new drugs, which are more efficient, and the increasing geriatric population are also expected to boost the growth of the urinary tract infection segment in the global genitourinary drugs market. For instance, in August 2017, FDA approved Vabomere for adults. Vabomere is an antibacterial drug, which is used for the treatment of complicated urinary tract infections (cUTI) and pyelonephritis (a type of kidney infection caused by specific bacteria). Vabomere contains meropenem and vaborbactam. In December 2017, the FDA accepted the review of NDA (New Drug Application) submitted by Achaogen for plazomicin to treat cUTI, including pyelonephritis and bloodstream infections (BSI), and has set a target action date under Prescription Drug User Fee Act (PDUFA) for June 2018.
Asia Pacific is expected to be the fastest growing region
Asia is expected to experience a high growth rate in the genitourinary drugs market in the next few years, due to rise in genitourinary disease cases, growing need for improved treatments and therapies of genitourinary diseases, increasing awareness about genitourinary diseases, rise in health care expenditure, and developing health care infrastructure in the region. Growing demographics and economies in the developing countries, such as India and China, are expected to lead to the rise of the genitourinary drugs market in the Asia-Pacific region.
The global genitourinary drugs market displays high competition among market players. Major market players are investing high capitals on R&D and generating many strategies, such as new product launches and developments, geographical expansions, collaborations, and acquisitions to strengthen their market position in the global genitourinary drugs market. For instance, in September 2018: TherapeuticsMD Inc. launched Imvexxy (estradiol vaginal inserts) for the treatment of moderate-to-severe dyspareunia. Major players in the global genitourinary drugs market include Bristol-Myers Squibb Co., Eli Lilly and Company, GlaxoSmithKline, Achaogen Inc., Melinta Therapeutics Inc., Wellstat Therapeutics Corporation, Allergan Merck & Co. Inc., Novartis AG, and Pfizer among others.
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