The urinary tract infection therapeutics market is estimated to be valued at US$ 9193.23 Mn in 2023 and is expected to exhibit a CAGR of 3.0% over the forecast period from 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Urinary tract infection (UTI) therapeutics are used for the treatment of various types of UTIs such as upper UTI and lower UTI. Upper UTI includes kidney infection (pyelonephritis), while lower UTI includes bladder infection (cystitis) and urethra infection. The major products available in the market are drugs such as nitrofurantoin, fluoroquinolones, trimethoprim/sulfamethoxazole, aminoglycoside antibiotics, and azoles and ointments. These drugs are available in oral and intravenous forms depending on the severity of infection.

Market Dynamics:

The urinary tract infection therapeutic market is driven by increasing prevalence of urinary tract infections. According to the National Kidney Foundation, it is estimated that more than 150 million people suffer from urinary tract infections each year worldwide. UTIs occur more frequently among women as compared to men. Furthermore, rising geriatric population is also contributing to the growth of the market. Elderly people are more prone to UTIs due to diminished immune function and anatomical changes that come with aging. Another driver for the market is growing awareness and easy availability of treatment options. However, one of the major challenges for the market is rise of antibiotic resistance due to overprescription of antibiotics for UTIs. This has resulted in limited treatment options for drug-resistant infections.

SWOT Analysis

Strength: The urinary tract infection therapeutic market benefits from a large patient pool due to rising urinary tract infection cases. There is strong presence of key market players focusing on new drug development and launches. Growing awareness regarding urinary tract infections and their treatment options further aids market growth.

Weakness: High costs associated with drug development and clinical trials pose challenges to market players. Side effects related to few drugs hinder complete patient compliance.

Opportunity: Rising healthcare expenditure in emerging nations presents lucrative growth opportunities. Growing geriatric population prone to urinary tract infections presents demand for advanced therapeutic options.

Threats: Patent expiries of major drugs results in lower profit margins for companies. Rising adoption of alternative treatment modes like herbal medicines also threatens market growth.

Key Takeaways

The Global Urinary Tract Infection Therapeutic Market Size is expected to witness high growth, exhibiting CAGR of 3.0% over the forecast period, due to increasing prevalence of urinary tract infections worldwide. As per recent estimates, over 150 million people suffers from urinary tract infections globally each year. This large patient pool drives significant demand for therapeutic drugs andPIPELINE: Oncology opportunities.

North America currently dominates the global urinary tract infection therapeutic market and is expected to continue its dominance over the forecast period. High awareness regarding urinary tract infections and easy accessibility to advanced treatment drives the North America market. However, Asia Pacific is anticipated to exhibit fastest growth led by countries like India and China. Rising healthcare infrastructure, growing medical tourism and massive patient base present lucrative opportunities in the region.

Key players operating in the urinary tract infection (UTI) therapeutic market are Pfizer, Novartis AG, Cipla Inc., Bayer AG, AstraZeneca, Shionogi & Co. Ltd., and GlaxoSmithKline PLC, among others. These key players majorly focus on new drug launches and acquisitions to strengthen their product portfolio andmarket position. For instance, in 2019, Bayer AG acquired BlueRock Therapeutics to develop cell therapies for cancer and other serious diseases.

Read Our More Blogs : https://www.pressreleasebulletin.com/urinary-tract-infection-therapeutics-market-analysis-growth-forecast-outlook-2023-2030/