The Urinary Tract Infection Therapeutic Market is estimated to witness high growth owing to trends of Increasing prevalence of urinary tract infections

 


The Urinary Tract Infection Therapeutic 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 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.


Market Overview:
Urinary tract infections, commonly known as UTI, refer to infections that affect any part of the urinary system including the kidneys, ureters, bladder, and urethra. The main symptoms include painful urination, frequent urination, and feeling the need to urinate despite having an empty bladder. Without proper treatment, UTIs can sometimes lead to more serious complications like kidney infections or blood poisoning. Antibiotics are commonly prescribed to treat UTIs by killing the bacterial infection.

Market key trends:

Increasing prevalence of urinary tract infections globally is expected to drive the therapeutic market growth over the forecast period. As per the World Health Organization, around 150 million people are diagnosed with UTIs each year worldwide. UTIs are one of the most common bacterial infections, especially among women and children, with nearly 60% of women experiencing a UTI during their lifetime. The growing geriatric population is also vulnerable to UTIs due to anatomical changes and weakened immunity. Hence, the rising incidence rate of urinary tract infections is propelling the demand for effective therapeutic drugs and treatments, thus augmenting the market growth.

Porter's Analysis

Threat of new entrants: The urinary tract infection therapeutic market requires high R&D investments and regulatory approvals, reducing threat of new entrants.

Bargaining power of buyers: Large buyers like hospitals can negotiate lower drug prices but demand for essential drugs limits impact on prices.

Bargaining power of suppliers: Major players control supply and have established relationship with buyers, increasing supplier bargaining power.

Threat of new substitutes: Limited substitutes and need for innovative drugs to treat resistant bacteria strains keeps threat of substitutes low.

Competitive rivalry: Intense competition to develop new drugs has increased rivalry among major players in the market.

SWOT Analysis

Strengths: High demand for drugs to treat urinary tract infections globally. Established distribution channels of major players.

Weaknesses: High R&D costs and regulatory risks associated with new drug development. Threat of drug resistance reducing efficacy of existing drugs.

Opportunities: Growth in geriatric population more susceptible to UTIs. Emerging economies with increasing healthcare investments present new markets.

Threats: Patent expirations increasing generic competition. Stringent regulations delaying approvals impact revenues.

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 incidence of UTIs worldwide. North America dominates the market currently due to high healthcare spending and technological advancements.

The urinary tract infection therapeutic market in Asia Pacific is expected to grow fastest between 2023-2030 with CAGR of over 4.0% due to improving access to healthcare in major economies like China and India and health awareness programs.

Key players operating in the urinary tract infection therapeutic market are Pfizer, Novartis AG, Cipla Inc., Bayer AG, AstraZeneca, Shionogi & Co. Ltd., and GlaxoSmithKline PLC, among others. Major players are focusing on developing innovative drugs to treat drug resistant bacterial strains through collaborations and M&As.

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

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