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Urinary Tract Infection Treatment Market Foreseen to Witness 3% CAGR During 2019 - 2027
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Besides, availability of improved research facilities has helped medical scientists in diagnosing the various reasons responsible for urinary tract infection. It is safe to expect that the global urinary tract infection treatment market would become a safe haven for investment in the years to follow. Rapid advancements in the field of nephrology have also played a part in driving market demand.
Transparency Market Research (TMR), in one of its reports, predicts that the global urinary tract infection treatment market would expand at a sluggish CAGR of 3% over the period between 2019 and 2027. Furthermore, the total market value is expected to touch US$ 7.5 Bn in 2027, growing from a value of US$ 5.9 Bn in 2018.
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The slow rate of growth can be attributed to the delays in approval of several drugs. However, the presence of a seamless healthcare industry shall continue to complement market growth. Moreover, new research initiatives pertaining to medicine and healthcare shall also drive market demand.
Approvals from FDA as a Forerunner to Market Growth
The Food and Drug Administration (FDA) has been the harbinger of multiple improvements in the healthcare industry. As the need for improved treatment mechanisms gathers momentum across the world, FDA is playing a defining role in modern medicine. In its latest, FDA approved the use of FETROJA® (cefiderocol) drug for the treatment of urinary tract infections.
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The occurrence of certain complicated forms of urinary tract infections in adults could be deadly. These types of infections do not have an alternative line of treatment, except the use of heavy drugs. FDA's new approval is expected to aid the growth of the global urinary tract infection treatment market.
Availability of Improved Medical Facilities to Drive Demand
The adverse effects of insufficient water consumption are widely discussed by medical practitioners and doctors. Furthermore, urinary infections are often an outcome of low water consumption. Therefore, medications for treatment of urinary tract infection are widely distributed across hospitals and pharmacies. Therefore, the global urinary tract infection treatment market is set to undergo revolutionary growth in the years to follow.
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The advent of better healthcare facilities within nephrology have played a vital role in driving market demand. The geriatric population is highly vulnerable to the incidence of urinary tract infection. Therefore, improvements in geriatric care have also given a thrust to market growth.
Some of the leading vendors operating in the global urinary tract infection market are AstraZeneca plc, Pfizer, Inc., Johnson & Johnson, F. Hoffmann La-Roche Ltd., Teva Pharmaceutical Industries Ltd., Boehringer Ingelheim GmbH, Novartis AG.
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