The global urinary retention therapeutics industry size is anticipated to attain an impressive valuation of US$ 3.44 billion in 2023 and is projected to reach US$ 7.5 billion by 2033, expected to register a CAGR of 8.11% until 2033, as per a recently published Future Market Insights study. The market is anticipated to be fuelled by the rising prevalence of underactive bladder disorders and surging cases of urinary incontinence disease. For example, according to American Urological Association 2017 report, more than 200 million people worldwide suffered from stress urinary incontinence disorder in 2017, which can seriously affect the quality of life of both men and women. As a disease whose prevalence is related to advancing age, it affects more women compared to men with an approximate ratio of 3: 1.
On the other hand, increasing healthcare expenditure simultaneously helps healthcare organizations and government bodies in increasing the research and development activities on menopause drugs, their upcoming clinical trials, and other research activities. Furthermore, the cost involved in the production and manufacturing of the new drugs and devices, the market players need sufficient allocation of funds and resources, hence, the government acts as a helping hand in this scenario, which opens up growth prospects for the Urinary retention treatment market. Likewise, surging healthcare expenditure is also beneficial for further economic development and expansion of the healthcare sector. Additionally, rising disposable income of the population is a favorable factor that is expected to drive the market growth of Urinary retention therapeutics market during the forecast period.
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Also, growing number of regulatory approvals for drugs is expected to drive growth of the urinary retention treatment drugs market over the projected period. For example, in 2018, Astellas Pharma Inc. was granted the United States Food and Drug Administration approval for its supplemental new drug application (sNDA) for the use of mirabegron in combination with the muscarinic antagonist solifenacin succinate for the treatment of overactive bladder disorder with symptoms of urge urinary incontinence. These developments are anticipated to aid in industry’s growth. Likewise, in 2016, Cipla Limited was granted approval of Abbreviated New Drug Application (ANDA) for Darifenacin extended-release tablets from the United States Food and Drug Administration for treating overactive bladder.h 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.
Source : Pharmi Web
