The suitable reimbursement scenarios for the treatment of overactive bladder and the rising prevalence rate propel the market’s growth during forecasted period. The increase in research activities fuel, as well as the rise in the introduction of new components of exogenous markers, are also anticipated to drive market growth. Asia Pacific region is expected to show the fastest CAGR growth over the projection period due to the availability of numerous healthcare coverage systems.
Newark, Feb. 28, 2023 (GLOBE NEWSWIRE) — The Brainy Insights estimates that the overactive bladder treatment market will grow to USD 3.20 billion in 2022 and reach USD 4.69 billion by 2032. In just eight years, the use of neuromodulation techniques for treating OAB, the rising prevalence of chronic diseases, and the growing incidence of urinary tract infections are helping to stimulate market growth. Further, lifestyle changes, the increase in the prevalence of bladder pain syndrome (BPS), along with the rising population of older people are also expected to drive the market growth during the forecast period.
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Key Insight of the overactive bladder treatment Market
North America to account for the largest market size during the forecast period.
North America is expected to have the largest market share in the overactive bladder treatment market. Key factors favoring the growth of the overactive bladder treatment market in North America include the increase in research activities, rising older population and healthcare costs, and the appropriate reimbursement scenarios for the treatment of overactive bladder are helping to boost the market growth. Further, the availability of reimbursement for particular treatment options, along with the increasing prevalence of bladder overactivity, is expected to drive market growth in this region.
The idiopathic bladder overactivity segment is expected to augment the overactive bladder treatment market during the forecast period.
The idiopathic bladder overactivity segment held the largest market share in 2022 and is expected to continue during the forecast period owing to the rise in OAB among women post-menopause or pregnancy. Further, by 2032, the neurogenic bladder overactivity segment will likely dominate the market due to the increasing prevalence of UTIs and better healthcare facilities.
The anticholinergics segment is anticipated to dominate the market by 33.20% in 2032
The anticholinergics segment is anticipated to dominate the market in the forthcoming years, owing to the high prevalence of overactive bladder. Additionally, anticholinergics are a widely utilized class of medications for overactive bladder (OAB) treatment. Anticholinergics drugs have broad pharmacological actions, such as inhibiting involuntary bladder contractions. The drugs approved by the FDA for treating OAB involve solifenacin, oxybutynin, tolterodine, or fesoterodine. Further, by 2032, the tolterodine segment will likely dominate the market due to the increasing burden of overactive bladder.
Advancement in market
For example, in July 2022, Dr. Reddy’s Laboratories launched fesoterodine fumarate extended-release tablets, a generic therapeutic equivalent to Pfizer’s Toviaz ER tablets in the U.S., for the therapy of overactive bladder.
Driver: The increasing incidence of diseases, such as Parkinson’s disease:
The growing incidence of disorders like Parkinson’s disease, which leads to overactive bladder disease, and the ever-increasing geriatric population is anticipated to drive the market growth during the forecast period. Moreover, the increase in the number of patients visiting the hospital due to the availability of diagnostic laboratories and the rise in usage of L-Dopa, a symptomatic dopamine replacement treatment, along with the nigrostriatal method, are propelling the market growth. However, the proliferation in demand for combination therapies that help in neural transplantation, prolonged action of unremitting dopaminergic stimulation medicines, gene therapy, and initiatives by government bodies via funding is helping to stimulate the market growth.
Restraint: The shortage of skilled medical professionals:
The absence of a favorable reimbursement scenario in underdeveloped and developing economies is hampering the market growth. Further, the side effects of the current treatment, unwanted systemic effects of current hyperactive bladder treatment, and the recalls of therapeutic drugs are also restraining the market growth. Additionally, the anticholinergic drugs utilized to therapy OAB have harmful side effects. These drugs interact with the brain or neural system and can result in hallucinations, insomnia, memory loss, and other effects. These factors are also hampering the market growth during the forecast period.
Opportunity: The increasing R&D investments:
The low diagnosis rates and an extensive population base in emerging nations seeking cost-effective OAB medications propel market growth. Moreover, the development of innovative intravesical therapies and aggressive marketing by pharmaceutical companies are expected to drive market growth. Additionally, the suitable reimbursement scenarios for the treatment of overactive bladder, along with the upsurge in the public-private funding for target research activities, are expected to push the market growth during the forecast period. However, the surging number of drug discovery activities, ever-rising technological advancement, coupled with the innovation of new devices are anticipated to push the market growth.
Read 230-page market research report,”Overactive Bladder Treatment Market Size by Disease Type (Neurogenic Bladder Overactivity and Idiopathic Bladder Overactivity), Pharmacotherapy (Solifenacin, Anticholinergics, Darifenacin, Trospium, Oxybutynin, Fesoterodine, Tolterodine, and Others), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2023 to 2032″, published by The Brainy Insights
Some of the major players operating in the overactive bladder treatment market are:
• Cogentix Medical, Inc.
• Pfizer, Inc.
• Astellas Pharma Inc.
• Teva Pharmaceutical
• Endo International Plc.
• Allergan, Plc.
• Aurobindo Pharma Limited
• Hisamitsu Pharmaceutical Co., Inc.
• Intas Pharmaceuticals Ltd.
• Mylan N.V.
• Johnson & Johnson
• Medtronic PLC
• Macleods Pharmaceuticals Ltd.
• Sanofi S. A.
• Apotex Inc.
Key Segments cover in the market:
By Disease Type:
• Neurogenic Bladder Overactivity
• Idiopathic Bladder Overactivity
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter’s five forces model, attractiveness analysis, Product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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