The global genitourinary drugs market is anticipated to expand at a promising rate from 2021 to 2031
Wilmington, Delaware, United States, Transparency Market Research Inc. – The global genitourinary drugs market is anticipated to expand at a promising rate from 2021 to 2031. The increasing cases of genitourinary disorders and the growing number of pipeline medicines are likely to drive the worldwide genitourinary drugs market.
Furthermore, increasing disposable incomes, ongoing developments in healthcare infrastructure, and higher R&D investments in developing innovative compounds for the treatment of genitourinary illnesses are projected to drive the market during the forecast period.
A large number of pipeline drugs with a high likelihood of passing clinical trials in the future is expected to be a significant growth driver. For example, 16 drugs for cervical cancer are currently in clinical development and phase-II stages, respectively, demonstrating the rapidly expanding research platform.
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Genitourinary Drugs Market – Competitive Landscape
Key players in the global genitourinary drugs market are investing large sums in R&D and adopting several strategies such as new product launches and advancements, geographical expansions, partnerships, and acquisitions.
Key players in the global genitourinary drugs market are Melinta Therapeutics Inc., Cipla USA Inc., Allergan PLC, Merck & Co. Inc., Pfizer Inc.
In November 2019, the FDA ratified cefiderocol (FETROJA) for complicated urinary tract infections (cUTI) such as Pseudomonas aeruginosa, Proteus mirabilis, and Enterobacter cloacae complex in patients 18 years of age or older who have no alternative treatment options.
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Genitourinary Drugs Market – Trends and Opportunities
The genitourinary system includes bladder, urethra, kidneys, ureters, and genital organs, all of which play important roles in reproduction and waste removal from the body. The rising prevalence of urinary tract infections is expected to boost the global genitourinary drugs market. Moreover, the introduction of combination drugs, the research and clearance of new, more efficient drugs, and the growing senior population are likely to drive the growth of the urinary tract infection category in the global genitourinary drugs market.
Since genitourinary drugs are beneficial in treating pediatric patients with chronic kidney failure and urinary tract infections, their sales are projected to expand globally. The key market players are working on improving formulation techniques in order to create medications that help treat patients with chronic prostate cancer who have developed resistance to standard chemotherapeutic and hormone therapy treatments. In addition, some multinational companies are teaming with biopharmaceutical giants to launch next-generation therapeutics. This, together with a significant increase in the number of pipeline drugs in late-stage clinical trials, is expected to boost the genitourinary drugs market growth.
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Moreover, rising funding for research and development (R&D) programs and developments in healthcare infrastructure funded by governing and non-governing bodies in several nations are expected to fuel demand for genitourinary drugs in the future years.
Genitourinary Drugs Market – Regional Landscape
The North America genitourinary drugs market is projected to expand due to the high incidence of major genitourinary illnesses. For example, prostate cancer, which accounts for the majority of all genitourinary cancer types, is the second-leading cause of all cancer-related fatalities, which is a significant contributing factor to the rising need for therapeutics in this region. The genitourinary drugs market in America is anticipated to witness significant growth due to an increase in cancer patients in the region, growing healthcare expenditure, and the presence of a well-established healthcare system.
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The genitourinary drugs market in Europe is anticipated to grow due to government measures for the development of the healthcare sector, increased research and development activities in the region, and an increase in the number of chronic illnesses.
The Asia Pacific genitourinary drugs market is estimated to witness strong growth due to increased genitourinary disease cases, growing demand for better genitourinary disease treatments, and strong awareness of genitourinary disorders.
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