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The urinary tract infection therapeutic market has seen steady growth due to the rising incidence of urinary tract infections globally. Urinary tract infections are common bacterial infections that affect any part of the urinary system, including the bladder, ureters and kidneys. Given the increasing aged population that is more susceptible to such infections, demand for effective drugs to treat urinary tract infections has been on the rise.
The global urinary tract infection therapeutic market is estimated to be valued at US$ 8,665.5 Mn in 2023 and is expected to exhibit a CAGR of 3.0% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Growing research in developing novel therapies to treat antibiotic resistant infections has been a key trend fueling market growth. With rising antimicrobial resistance becoming a major concern, research organizations and pharmaceutical companies are investing heavily in developing novel drug classes that can combat drug resistant urinary tract infection causing bacteria. Several clinical trials are currently underway evaluating new molecules which may provide alternatives to conventional antibiotics in the coming years. If successfully developed, these therapies have the potential to significantly boost the urinary tract infection therapeutics market.
SWOT Analysis
Strength: Presence of large number of players operating in the market providing multiple treatment options. Growing R&D investments by key players for development of novel drugs.
Weakness: High cost of therapeutics, limited awareness regarding UTIs in developing regions.
Opportunity: Rising incidence of UTIs worldwide due to growing geriatric population and increasing risk factors like obesity. Scope for developing low-cost generics.
Threats: Expiry of patents of blockbuster drugs offering high competition. Stringent regulatory norms for approval of new drugs.
Key Takeaways
The global Urinary Tract Infection Therapeutic Market is expected to witness high growth. The market was valued at US$ 8,665.5 Mn in 2023 and is anticipated to reach US$ 10,000 Mn by 2030, expanding at a CAGR of around 3.0% during the forecast period.
Regional analysis
North America dominates the global market and is expected to continue its dominance through the forecast period. High prevalence of UTI and growing awareness regarding hygiene are key factors supporting market growth in the region. Asia Pacific exhibits the fastest growth attributed to rising geriatric population, adoption of sedentary lifestyle, and growing healthcare expenditure in developing countries.
Key players
Key players operating in the Urinary Tract Infection Therapeutic Market are Pfizer, Novartis AG, Cipla Inc., Bayer AG, AstraZeneca, Shionogi & Co. Ltd., and GlaxoSmithKline PLC, among others. The market is highly fragmented with large number of generic players. Key players are focused on developing combination therapies and novel drugs to strengthen their market position.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
