Genitourinary Drugs Market Size, COVID-19 Impact Analysis, Regional Outlook, Application Growth Potential, Competitive Market Growth & Forecast, 2021 – 2027
Report ID: GMI1382
Genitourinary Drugs Market size will attain notable proceeds from 2021-2027 with consistent rise in the number of pipeline drugs. The expanding disposable incomes of consumers across the globe have paved the way for constant advancements in the healthcare infrastructure. The rising incidences of cancer and genitourinary disorders have also boosted the R&D activities related to drug development, adding positive impetus to the demand spurt of genitourinary drugs.
Genitourinary drugs also addressed as genitourinary tract agents are medicines used in the treatment of conditions mainly related to the reproductive organs and the urinary tract.
The increase in the number of patients suffering from diabetes that are highly prone to urinary tract infections (UTI) is another prominent factor driving the market expansion. UTIs can be regarded as the most common clinical bacterial infections affecting women, as they account for nearly 25% of all infections. The Urology Care Foundation also reported that around 60% of women and over 12% of men are likely to be affected by the infection at least once during their lifetime.
Based on indication, prostate cancer is likely to be a prominent shareholder of the market on account of the increasing penetration of the disease and the surge in its therapeutics. The American Cancer Society 2021 statistics revealed that there were over 248,530 new cases and around 34,130 deaths reported for prostate cancer in the U.S. This trend is likely to influence the adoption of genitourinary drugs.
Regionally, U.S. genitourinary drugs market is set to record substantial expansion with the increasing cases of cancer, the presence of prominent healthcare infrastructure, and the rise in technological advancements for product development.
Demand for genitourinary drugs will grow at a robust pace in the APAC in the coming years. This is mainly due to the expanding health care spending and a higher need for modern treatments and therapies led by the prevalence of genitourinary diseases in the region.
The market is highly competitive and constitutes major participants, such as Ionis Pharmaceuticals, Hoffman-La Roche, Astellas, Immunex (Amgen), Genentech (Roche Holding AG), Bristol-Myers Squibb, Merck (P&G), Eli Lilly, Pfizer, and Abbott Laboratories.
These pharmaceutical entities are actively implementing inorganic business strategies, including acquisitions, partnerships, and mergers, along with novel product developments to increase their portfolio and presence across the global markets.
For instance, in August 2020, Bayer received approval from Chinese NMPA (National Medical Products Administration) for Xofigo®, employed in the treatment of castration-resistant prostate cancer (CRPC), and symptomatic bone metastases, in China. The drug is already approved and is used across 50 global countries, like the U.S., the EU, and Japan.
In another instance, GlaxoSmithKline initiated the patient dosing in phase III clinical programme for the investigation of gepotidacin, the first new chemical class of antibiotics, namely triazaacenaphthylene bacterial topoisomerase inhibitors, for patients with uncomplicated UTI and urogenital gonorrhea.
Impact of COVID-19 on the genitourinary drugs market forecast
The COVID-19 outbreak set a blow to the global economy while causing severe setbacks to numerous industrial verticals across the world. The alarming rise in the number of infections made way for the regulation of varying degrees of lockdowns and shuttering of operations across several business sectors.
The market is also bearing the brunt of the pandemic as it brought major roadblocks to the cancer-affected individuals given the depleting household incomes and the rising hospital admissions for COVID cases. These factors potentially hampered cancer treatment and care in healthcare settings. A survey carried out by the Genitourinary Cancers Symposium in 2021 revealed that up to 17.2% of patients delayed or avoided seeking medical care and nearly 12% of the affected individuals avoided going to the pharmacies to receive the needed medications amidst the pandemic.
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