Yahoo Finance Overactive Bladder Treatment Global Market Report 2023
Major players in the overactive bladder treatment market are AbbVie Inc., Astellas Pharma Inc., Laborie, Endo International Plc., Hisamitsu Pharmaceutical Co. Inc., Johnson & Johnson Services Inc., Medtronic Plc.
New York, June 09, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Overactive Bladder Treatment Global Market Report 2023" - https://www.reportlinker.com/p06466474/?utm_source=GNW
, Pfizer Inc., Sanofi S.A., Teva Pharmaceutical Industries Limited, Cogentix Medical Inc., Dr. Reddy’s Laboratories Ltd., Sumitomo Pharma Co. Ltd, Sun Pharmaceutical Industries Ltd., and Intas Pharmaceuticals Limited.
The global overactive bladder treatment market is expected to grow from $2.90 billion in 2022 to $3.01 billion in 2023 at a compound annual growth rate (CAGR) of 3.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The overactive bladder treatment market is expected to reach $3.51 billion in 2027 at a CAGR of 3.9%.
The overactive bladder treatment market consists of revenues earned by entities by providing treatments such as behavioural therapies, nerve stimulation, and percutaneous tibial nerve stimulation (PTNS).The market value includes the value of related goods sold by the service provider or included within the service offering.
The overactive bladder treatment market also includes sales of medications used in providing overactive bladder treatment.Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Overactive bladder refers to a collection of symptoms that may affect how often a person pees and the urgency.Treatment includes changing certain behaviours and incorporating pelvic floor muscle exercises, and others to eliminate symptoms.
Treatment can be helpful for relieving the symptoms of an overactive bladder and reducing episodes of urgent incontinence.
North America was the largest region in the overactive bladder treatment market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the overactive bladder treatment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of diseases in overactive bladder treatment are idiopathic bladder overactivity and neurogenic bladder overactivity.Idiopathic bladder overactivity refers to an involuntary contraction of the bladder muscle that causes a sudden and urgent need to urinate and is treated by overactive bladder (OAB) treatment therapies with anticholinergics and beta-3 agonists.
The diseases are treated by various therapies including anticholinergics, mirabegron, neurostimulation, intravesical instillation, and other therapies distributed by channels such as hospital pharmacies, drug stores, retail pharmacies, and online providers.
A rising geriatric population is expected to boost the growth of the overactive bladder treatment market going forward.The geriatric population refers to the population of people aged 65 and older.
Geriatric patients are more vulnerable to urinary tract infections due to a variety of factors, such as decreased urine flow, an overactive bladder, an enlarged prostate, or kidney stones.This will propel demand for overactive bladder treatments.
For instance, in February 2020, according to the United States Census Bureau, a US-based government agency responsible for collecting and publishing data about the population, economy, and geography, people aged 65 or older accounted for 56 million, or 17% of the total population in the USA.This population is expected to grow to 94 million by 2050, accounting for 23% of the total population.
Therefore, the rising geriatric population is driving the growth of the overactive bladder treatment market.
Technological advancements are a popular trend in the overactive bladder treatment market.Major companies operating in the market are introducing advanced products integrated with latest technologies to sustain their position in the market.
For instance, in August 2020, Medtronic Plc, an Ireland-based medical technology company, launched the New InterStim Micro Neurostimulator for sacral neuromodulation (SNM) therapy.The InterStim Micro neurostimulator boasts the innovative SureScan MRI technology, allowing for complete MRI conditional scans of the entire body.
Sacral neuromodulation utilizes electrical impulses to enhance bladder and bowel control by directly modulating nerve activity in the lower back. This method normalizes communication between the bladder and the brain, offering better control of symptoms.
In March 2021, Sumitovant Biopharma, a US-based biopharmaceutical company, acquired Urovant Sciences Ltd. for an undisclosed amount. This acquisition is expected to provide capital for long-term business objectives and ensure focus on Sumitovant’s mission to develop and commercialize innovative therapies for its patients. Urovant Sciences Ltd. is a Switzerland-based clinical-stage biopharmaceutical company that is focused on developing and commercializing innovative therapies for urologic conditions, including overactive bladder (OAB) treatments.
The countries covered in the overactive bladder treatment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The overactive bladder treatment market research report is one of a series of new reports that provides overactive bladder treatment market statistics, including overactive bladder treatment industry global market size, regional shares, competitors with an overactive bladder treatment market share, detailed overactive bladder treatment market segments, market trends and opportunities, and any further data you may need to thrive in the overactive bladder treatment industry. This overactive bladder treatment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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