Genitourinary Drugs Market Is Witnessing Significant Growth Due To High R&D Investments Undertaken By The Key Companies Till 2024

The genitourinary drugs market is expected to reach USD 29.7 billion by 2024, according to a new study by Grand View Research, Inc. This sector is expected to be driven by high R&D investments undertaken by the key companies, which is expected to result in the large-scale development of new drug candidates. This is presumed to increase the influx of drugs at a rapid pace into the genitourinary drugs market hence providing efficient treatment alternatives for numerous genitourinary disorders.

Genitourinary drugs market, by product, 2013 - 2024 (USD Million)


In addition, growing incidence of drug recalls is fueling the high clinical urgency to develop relatively new and advanced drugs with targeted therapy mechanisms. These factors cumulatively are slated to present the vertical with considerable growth opportunities over the forecast period.

Furthermore, increasing global presence of the major market players is anticipated to raise the awareness levels pertaining to treatment alternatives for genitourinary diseases amongst the patients as well as the physicians. This is further expected to widen the genitourinary market growth potential during the forecast period. Growing generic drugs competition, rising presence of counterfeit drugs, and with several patent expirations in the horizon, the market growth is expected to slow down over the coming years.

Browse full research report on Genitourinary Drugs Market: www.grandviewresearch.com/industry-analysis/genitourinary-drugs-market                                                                    

 Further key findings from the report suggest:

  • Prostate cancer held the largest share of the indication segment in 2015 owing to the rising global incidence of the condition. In addition, advances in proteomics technology and improved screening and diagnostic procedures are presumed to be responsible for the dominant share. 
  • Other products segment captured the majority share of 44.8% in the application segment in 2015. This is attributed to the numerous products launched by the major market players, which is responsible in widening the growth platform. For instance, in January 2016, ProstaPlast presented transdermal urological plasters in Europe, which demonstrated its clinical efficacy in reducing urinary problems in majority of the patients.
  • In 2015, North America dominated the global genitourinary drugs vertical with a share of over 42.6%. The dominant share is attributable to the high disease burden present in this region, thus driving the inclination of researchers and healthcare professionals toward advanced formulation technologies, which is anticipated to widen the growth scope for this sector.
  • Asia Pacific is expected to witness a lucrative CAGR of over 5.6% during the forecast period. The exponential growth rate can be attributed to the rising healthcare spending and the improving infrastructure quality of clinical research and manufacturing facilities owing to the initiatives of the key vertical players.
  • The prominent participants are employing new product development and collaborative strategies to capture greater market share and increase their presence in this sector. For instance, in March 2015, Novartis AG further enhanced its cancer immunotherapy research initiative through collaboration with Aduro Biotech to increase its activities toward discovery and development in next generation cancer immunotherapy.

Browse more reports of this category by Grand View Research: www.grandviewresearch.com/industry/pharmaceuticals                                                               

 Grand View Research has segmented the genitourinary drugs market on the basis of product, application, test, and region:

Global Genitourinary Drugs Indication Outlook (Revenue, USD Million, 2013 - 2024)
  • Prostate Cancer
  • Ovarian Cancer
  • Bladder Cancer
  • Cervical Cancer
  • Renal Cancer
  • Erectile Dysfunction
  • Urinary Tract Infections
  • Urinary Incontinence & Overactive Bladder
  • Sexually Transmitted Diseases
  • Interstitial Cystitis
  • Hematuria
  • Benign Prostatic Hyperplasia
Global Genitourinary Drugs Product Outlook (Revenue, USD Million, 2013 - 2024)
  • Urologicals
  • Hormonal Therapy Drugs
  • Gynecological products
  • Anti-infectives
  • Others
Genitourinary Drugs Regional Outlook (Revenue, USD Million, 2013 - 2024)
  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
  • Asia Pacific
    • Japan
    • China
    • India
  • Latin America
    • Mexico
    • Brazil
  • MEA
    • South Africa

Access Press Release By Grand View Research: www.grandviewresearch.com/press-release/global-genitourinary-drugs-market   
                
About Grand View Research:

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.


For more information: www.grandviewresearch.com

Comments

Post a Comment

Popular posts from this blog

Epigenetics Market to Observe Strong Development by 2022

The global  epigenetics market  is expected to reach USD 16.31 billion by 2022, according to a new report by Grand View Research, Inc. Growing worldwide prevalence of cancer and other diseases with epigenetic modification base is expected to drive market growth during the forecast period.  Diagnostic companies are coming up with new products such as antibodies specific for the detection of modifications and new upgraded kits for easy and efficient detection of biomarkers. This is expected to attract pharmaceutical companies to collaborate for the development of therapeutic drugs.  Presence of pipeline drugs and their expected commercialization is anticipated to boost penetration rates over the forecast period. For instance, Ramucirumab (Cyramza) by Eli Lilly and Company was approved by the FDA for use in combination with Folfiri for the treatment of patients with metastatic colorectal cancer.  Technology advancements in the field of epigenetics especially pertaining to t
Read more

Increasing Incidences Of M&A Of CDMO/CRO With Big Pharma Companies To Drive Life Sciences BPO Market Growth Till 2024: Grand View Research, Inc.

Image
The  life sciences BPO market  is expected to reach USD 420 billion by 2024, according to a new report by Grand View Research, Inc. The lucrative growth is attributed to the growing demand for contract manufacturing of raw materials, Finished Dosage Forms (FDFs), medical devices, drug discovery services, regulatory services, pre-clinical and clinical trial services, and pharmacovigilance services.  The pharmaceutical and biotech industry invests heavily in the R&D sector to continuously introduce new molecules, devices, and treatments. The different stages of the drug development such as drug discovery, pre-clinical studies, and clinical trials require huge financial, technological, and human resources.  North America life sciences BPO market, by services, 2013 - 2024 (USD Billion) In order to cater to the growing needs of the industry, the outsourcing vendors are expanding their product and service offerings and they are targeting niche areas for long-term growth
Read more

U.S. Telehealth Market Is To Be $2.83 Billion By 2022: Grand View Research, Inc.

Image
U.S. telehealth market  is expected to reach USD 2.8 billion by 2022, according to a new report by Grand View Research Inc. Increasing access to basic healthcare is the major aim of telehealth along with improved healthcare quality and patient safety by early detection and diagnosis. According to a report published by the Agency for Health Care Research and Quality (AHRQ), implementation of telehealth solution improves quality of care delivery to patients.  The rising demand for self care and independent living along with the concept of home care is highly appealing to the population. The Rhode Island Partnership for Home Care reported that in 2014, over 20,000 citizens demanded for home care that led to approximately 1,000,000 visits by healthcare providers. Advantages that drive the higher adoption for home care include better psychological impact on patients, provision of friendly environment, care provision as per patient needs, and cost-effectiveness.  U.S. telehealth
Read more