What Will The Overactive Bladder Treatment Market Look Like In 2023?
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
The Business Research Company’s overactive bladder treatment market report forecasts the overactive bladder treatment market size to grow to $3.51 Billion by 2027, with a CAGR (compound annual growth rate) of almost 4%.
Learn More On The Overactive Bladder Treatment Market Report 2023 – http://tbrctest.tbrc.info/report/overactive-bladder-treatment-global-market-report
Overactive Bladder Treatment Market Size Forecast
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 global overactive bladder treatment market size is expected to reach $3.51 billion in 2027 at a CAGR of 3.9%.
North America held the largest overactive bladder treatment market share, and Asia-Pacific was the fastest-growing region in 2022.
Key Overactive Bladder Treatment Market Driver – Rise In The Geriatric Population
People aged 65 and older accounted for 56 million, or 17% of the total population in the United States in February 2020, according to the United States Census Bureau, a US-based government body responsible for collecting and distributing data about the population, economy, and geography. By 2050, its population is predicted to expand to 94 million, accounting for 23% of the total. As a result, the growing geriatric population is propelling the overactive bladder therapy market forward.
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Key Overactive Bladder Treatment Market Trend – Technological Advancement
To maintain their market position, major industry players are offering improved products that are integrated with cutting-edge technology. For example, Medtronic Plc, an Ireland-based medical technology business, will debut the New InterStim Micro Neurostimulator for sacral neuromodulation (SNM) therapy in August 2020. The unique SureScan MRI technology in the InterStim Micro neurostimulator enables comprehensive MRI conditional scans of the entire body. By directly manipulating nerve activity in the lower back, sacral neuromodulation uses electrical impulses to improve bladder and bowel control. This approach normalises communication between the bladder and the brain, allowing for better symptom control.
Overactive Bladder Treatment Market Segment
1) By Diseases Type: Idiopathic Bladder Overactivity, Neurogenic Bladder Overactivity
2) By Therapy: Anticholinergics, Mirabegron, Neurostimulation, Intravesical Instillation, Other Therapies
3) By Distribution Channel: Hospital Pharmacies, Drug Stores And Retail Pharmacies, Online Providers
Overactive Bladder Treatment Market Major Players and Strategies
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., 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.
Sumitovant Biopharma, a biopharmaceutical business based in the United States, paid an unknown sum for Urovant Sciences Ltd. in March 2021. This transaction is expected to generate funds for long-term business objectives and to keep Sumitovant focused on its purpose of developing and commercialising new medicines for its patients. Urovant Sciences Ltd. is a clinical-stage biopharmaceutical business established in Switzerland that is focused on discovering and commercialising novel therapeutics for urologic disorders, especially overactive bladder (OAB) treatments.
The Overactive Bladder Treatment Global Market Report 2023 covers regional data on overactive bladder treatment market size, overactive bladder treatment market trends and drivers, opportunities, strategies, and overactive bladder treatment market competitor analysis. The countries covered in the overactive bladder treatment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Overactive bladder is a group of symptoms that can alter how frequently and how urgently a person pees. To eradicate symptoms, treatment includes modifying specific behaviours and implementing pelvic floor muscle exercises, among other things. Treatment can help alleviate the symptoms of an overactive bladder and reduce instances of incontinence.
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