Los Angeles, October 25, 2019 – Overactive bladder is a urological condition characterized with urination problems. QY Research has recently added a report titled, “Global Overactive Bladder Treatment Market 2019 by Manufacturers, Regions, Type and Application, Forecast to 2025”, predicting the growth opportunities in the global market. The global overactive bladder treatment market was valued US$5095.2 mn in 2018 and is expected to reach US$5869.7 mn by the end of 2025, with a CAGR of 2.97% during the forecast period of 2019 to 2025.
Rise in Research and Development Activities Likely to Boost Market
Overactive bladder syndrome mostly affects women and geriatric population. It also affects patients with neurological disorders, multiple sclerosis, stroke, and Parkinson’s disease. Therefore, the need for development of new technologies and therapies along with marketing strategies by pharma companies are likely to boost the market. The pharmaceuticals in healthcare industry are actively investing in research and development activities to manufacture advance diagnostic techniques and more effective medication. These factors will augment the growth of global market for overactive bladder treatment.
Rising healthcare infrastructure and escalating government initiatives are also expected to increase the demand for this treatment. Rise in number of doctors around the globe undertaking innovative intravesical therapies along with dynamic marketing activities by pharmaceutical companies are drivers stimulating the market.
However, there are some restraints that could possibly affect the market such as adverse side effects of anticholinergics and improper medical infrastructure in under-developed regions.
Neurogenic Overactive Bladder to Trigger Market Growth Owing to Parkinson’s disease
The market is segmented into type and cause. The type segment is further divided into drugs and devices and the cause segment includes neurogenic overactive bladder and idiopathic overactive bladder. The neurogenic overactive bladder segment is expected to rise during the forecast period owing to increased number of spinal surgeries, spinal cord injuries, and Parkinson’s disease as identified as triggers.
North America to Lead the Market Due to Better Healthcare Insurances
The North America regional market is expected to lead owing to availability of healthcare insurances such as Medicare along with increasing neurological disorders, changing lifestyles, and increasing rate of alcohol consumption during the forecast period. Whereas, the European market is likely to be second in position due to policies of UK’s National Institutes for Health and Care Excellence that provide reimbursements. European market is expected to give tough competition to North America as it boasts a large patient pool. Emerging economies such as Japan, China, and India in the Asia Pacific region are expected to offer growth opportunities to the market due to increased medical advancements in this region.
The key players operating in the global overactive bladder treatment market are KYORIN Pharmaceutical, Astellas Pharma, Johnson & Johnson, Pfizer, Allergan, and Medtronic
The global market is expected to witness alliances and acquisition by key players to increase demand. The key players are investing in research and development activities along with focusing on developing more efficient therapies and technologies.
● Parkinson’s disease will trigger the growth of market.
● Italy, Germany, and France will dominate the European market.
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