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Urinary Tract Infection Treatment Global Market Observe Highest Growth of $11.74 Billion with an Excellent CAGR of 2.9% by 2028
Urinary Tract Infection Treatment Global Market
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According to The Business Research Company's, The urinary tract infection treatment market size has grown steadily in recent years. It will grow from $10.12 billion in 2023 to $10.45 billion in 2024 at a compound annual growth rate (CAGR) of 3.3%. The growth in the historic period can be attributed to antibiotic discoveries, urinary catheter use, clinical guidelines and protocols, patient awareness and education, women's health research.
The urinary tract infection treatment market size is expected to see steady growth in the next few years. It will grow to $11.74 billion in 2028 at a compound annual growth rate (CAGR) of 2.9%. The growth in the forecast period can be attributed to development of non-antibiotic treatments, rise in resistant bacterial strains, personalized treatment approaches, elemedicine and remote consultations, public health awareness programs. Major trends in the forecast period include microbiome-based therapies, phage therapy, point-of-care testing, nutritional interventions, preventive strategies focus, community-based interventions.
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Market Drivers and Trends:
The rising prevalence of urinary tract infections is expected to propel the growth of the urinary tract infection treatment market going forward. Urinary tract infections refer to bacterial infections that affect the kidneys, bladder, ureters, and urethra, as well as other parts of the urinary system. Urinary tract infection treatment is essential, as it helps in several ways to address the infection and promote healing in urinary tract infections. For instance, in January 2023, according to the National Institute of Health, a US-based public health research agency, urinary tract infections were the seventh most common reason for a patient to be seen in an emergency department in the USA, constituting over one million visits annually. Of these, 22% (220,000) are considered complicated UTIs, and about 100,000 are admitted annually. Therefore, the rising prevalence of urinary tract infections is driving the growth of the urinary tract infection treatment market.
The adoption of advanced diagnostic technologies is a key trend gaining popularity in the urinary tract infection treatment market. Companies operating in the urinary tract infection treatment market are working on new product innovations to sustain their position in the market. For instance, in April 2023, AccessDx Laboratory, a US-based diagnostic laboratory launched the UTI PROx Panel. UTI PROx is designed to equip healthcare providers with superior insights to improve clinical care and decision-making when treating suspected, complex, and recurrent urinary tract infections.
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Major Key Players of the Market:
Pfizer Inc., F. Hoffmann-La Roche Ltd, Merck & Co. Inc, AbbVie Inc., Allergan Plc, Bayer AG, Novartis International AG., Sanofi S.A., Bristol-Myers Squibb Company, Thermo Fisher Scientific Inc., AstraZeneca plc, GlaxoSmithKline PLC, Eli Lilly and Company, Boehringer Ingelheim GmbH, Teva Pharmaceutical Industries Ltd, Sun Pharmaceutical Industries Ltd, Dr. Reddy's Laboratories Ltd., Bio-Rad Laboratories Inc., Cipla Ltd, Hikma Pharmaceuticals PLC, Lupin Limited, Almirall SA, Torrent Pharmaceuticals Limited, Glenmark Pharmaceuticals Limited, Mylan N.V.
Urinary Tract Infection Treatment Market 2024 Key Insights:
• The urinary tract infection treatment market size is expected to see steady growth in the next few years. It will grow to $11.74 billion in 2028 at a compound annual growth rate (CAGR) of 2.9%.
• Urinary Tract Infection Treatment Market Surges In Response To Escalating Prevalence
• Advancements In Urinary Tract Infection Treatment Market Through Cutting-Edge Technologies
• North America was the largest region in the urinary tract infection treatment market in 2023
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