Genitourinary Drugs Market Pegged for Robust Expansion by 2024
The global Genitourinary Drugs Market is expected to expand at a healthy rate in the near future, more so in developing economies due to growing concerns about urinary incontinence and related illnesses. The U.S. continues to be the most prominent market for genitourinary drugs, followed by Japan as far as the consumption of these drugs is concerned.
Global Genitourinary Drugs Market: Trends and Opportunities
The report observes that the entry of novel drugs such as Cialis has been a boon in the global market for genitourinary drugs. These drugs are considerably more effective than the drugs used in multiple-drug therapies, and are affordable in cost to for the end-users. Success of Cialis has fueled the development of a number of new biological drugs for the treatment of genitourinary disorders, further propelling the global market for genitourinary drugs market.
Additionally, the genitourinary drugs market is also expected to gain from increasing incidences of urinary diseases and related illness that are sexually transmitted. Moreover, rising concerns about urinary incontinence and impotency as well as technological advancements in genitourinary devices are anticipated to accentuate the growth of the global genitourinary drugs market over the forecast period. However, the lack of compliance to medication is expected to hamper the overall growth rate of the global market for genitourinary drugs.
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Global Genitourinary Drugs Market: Region-wise outlook
North America stood as the most prominent market for genitourinary drugs in 2014. This was a result of factors such as robust healthcare infrastructure, awareness about the growing prevalence of cancer, and technological advancements in manufacturing of genitourinary drugs. Europe currently remains the second largest regional market for genitourinary drugs, however, emerging economies in Asia Pacific are anticipated to register the fastest growth rate during the forecast period. This rapid increase in demand for genitourinary drugs in Asia Pacific is due to increased disposable income (especially among the urban population), adoption of effective medicines and aggressive investment by individual governments towards improving healthcare infrastructure in those countries. The region of Latin America is also expected to experience healthy growth rate in near future.
In order to provide detailed projections, the global market for genitourinary drugs has been segmented on the basis of disease and product. By disease, the market can be segmented into genitourinary cancer, bladder cancer, cervical cancer, ovarian cancer, kidney or renal cancer, and prostate cancer. On the basis of product, the global market for genitourinary drugs is segmented into urologicals, gynaecologicals, sex hormones, and genitourinary anti-infectives. Sex hormones account for the dominant demand due to increasing usage of drugs in the market while the genitourinary anti-infective segment is expected to experience the most robust growth rate over the forecast duration of the report owing to increasing incidences of urinary tract infections.
Some of the key players in the global market for genitourinary drugs include Pfizer, Astellas, Betanis, Botox, Glaxo Wellcome Plc, Anturol, GlaxoSmithKline, Eli Lilly, Bayer AG, Merck KGaA, Abbott Laboratories, Merck & Co., Agouron Pharmaceuticals Inc., Chiron Inc., Bristol-Myers Squibb Co., Connaught Laboratories Inc., Genentech Inc., Hoffman-La Roche Inc., Immunex Corp., Isis Pharmaceuticals, Pharmacia & John Inc., Quadra Logic Technologies Inc., Photofrin, Rhone Poulenc Rorer Inc., Schering Plough Corp., and Leucomax.
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