Genitourinary Drugs Market Size Is Anticipated to Grow at a CAGR of 1.65% By 2023

The Global Genitourinary Drugs Market size was valued USD 28,200 million in 2018 and is expected to register a CAGR of 1.65% over the assessment period (2018-2023), says Market Research Future (MRFR). Genitourinary drugs market size is expected to witness significant growth owing to rising prevalence of genitourinary diseases and expanding healthcare. According to the Centers for Disease Control and Prevention, urinary tract infections are the most common infection demanding medical care and causing almost 9.6 million ambulatory care visits. The economic burden of urinary tract infections is almost US$ 2 Bn annually. Urinary tract infections also are the leading cause of antibiotic use in the U.S.

The global market of genitourinary drugs may find better growth prospects with surging demand and expanding healthcare. Genitourinary drugs are expected to dominate a large part of the pharmaceuticals market. Genitourinary drugs refer to pharmaceuticals used to treat diseases of the urinary and genital organs such as kidneys, ureters, bladder, urethra, and others. The large spectrum of diseases originating from these organs drives a large market for genitourinary drugs.

Surging healthcare expenditure, growing world population, and growing per capita income can trigger better growth for the genitourinary drugs market. The expansion of healthcare infrastructure, including the dramatical increase in the number of hospitals and clinics, can bolster the growth of the market. The growing number of geriatrics is another driver of the market. According to the Department of Economic and Social Affairs of the U.N. almost 12.4% population in the Asian countries are more than 60-year-old.

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Genitourinary Drugs Market Segmentation

As per the report published by MRFR, the Global Genitourinary Drugs Market has been segmented based on disease, product, and end-user.

In terms of product, the market has been segmented into urological, hormonal therapy, gynecological, and anti-infectives.

In terms of end-user, the market has been segmented into hospitals, clinics, super specialty centers, and others.

In terms of disease, the market has been classified into urinary tract infections, erectile dysfunction, urinary incontinence & overactive bladder, kidney/renal cancer, genitourinary cancer, bladder cancer, bladder cancer, cervical cancer, sexually transmitted diseases, interstitial cystitis, hematuria, ovarian cancer, prostate cancer, and others.

Genitourinary Drugs Market – Regional Outlook

By region, the Global Genitourinary Drugs Market has covered the main regions of Americas, Europe, Asia-Pacific, and the Middle East & Africa.

The European market is expected to be the second-largest Genitourinary Drugs Market with the factors such as increasing research and development, rise in number of chronic diseases such as diabetes, and government initiatives for the development of healthcare sector. According to the International Diabetes Foundation, diabetes is major health concern in European region and in 2017, approximately 9.1% of total European population was suffering from diabetes.

Among these, the Americas are likely to lead the global genitourinary drugs market in support of factors such as rising prevalence of genitourinary disorders in aging population, increase in high expenditure for healthcare, and presence of well-established healthcare system. According to the National Kidney Foundation, Urinary tract infections (UTIs) are responsible for nearly 10 million doctor visits each year and approximately 20% women suffer from UTI at least once in a life.

In Middle East & Africa, the market is expected to hold the smallest share of the global genitourinary drugs market owing to lack of technical knowledge, undeveloped healthcare sector, and poor medical facilities.

Asia-Pacific is expected to be the fastest-growing genitourinary drugs market during the forecast period owing to the swelling geriatric production. There has also been a significant rise in number of genitourinary disorders, investments in healthcare and expansion of regional market players. According to United Nations, Department of Economic and Social Affairs, in 2016, 12.4% of total population in Asian countries was 60 year or older.

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