360 MARKET UPDATES Report provides a 360-degree overview of the global Urinary Tract Infection Therapeutics Market with special emphasis on all aspects including drivers, restraints, and opportunities, market and regional segmentation.
Report Title: “Global Urinary Tract Infection Therapeutics Market – Segmented by Type of Drug, and Indication – Growth, Trends and Forecasts (2018 – 2023)”
Global “Urinary Tract Infection Therapeutics Market” is expected to register a CAGR of approximately 3.5% during the forecast period of (2018 – 2023). Also, Urinary Tract Infection Therapeutics Market report provides the global market competition landscape, market drivers and trends, opportunities and challenges, risks and entry barriers, sales channels, distributors and Urinary Tract Infection Therapeutics Analysis.
Urinary Tract Infection Therapeutics market Report provides a 360-degree overview of the global Urinary Tract Infection Therapeutics market with special emphasis on all aspects including drivers, restraints, and opportunities, market and regional segmentation.
Urinary Tract Infection Therapeutics Market Report Covers Leading Manufacturers: PFIZER LIMITED, BOEHRINGER INGELHEIM, BAYER AG, GLAXOSMITHKLINE PLC, NOVARTIS AG, F. HOFFMANN-LA ROCHE LTD, JOHNSON & JOHNSON, ASTRAZENECA, CIPLA INC,MERLION PHARMA
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The global urinary tract infection therapeutics market is expected to register a CAGR of 3.5% during the forecast period 2018 to 2023. North America dominates the market due to high Urinary Tract Infection (UTI) detection along with increasing diabetes prevalence in the region.
Increasing Prevalence of Diabetes and Kidney Stones
According to World Health Organization (WHO), in 1980 there were 108 million people suffering from diabetes, this number increased to 422 million in 2014. While the prevalence of diabetes in adults increased from 4.7% in 1980 to 8.5% in 2014. This trend of increment in diabetes prevalence rate among adults is expected to continue in the forecast period. Therefore with increasing prevalence, the number of UTI increases, and with increase in UTI, the demand for drugs increases. Thus increasing prevalence of diabetes worldwide is expected to act as a major driver for the global urinary tract infection therapeutics market.
In addition, launch of combination drugs which are more effective and increasing geriatric population are also expected to boost the growth of urinary tract infection therapeutics market.
Adverse Effects Associated with the Use of Medication
According to Centers for Education & Research on Therapeutics, over 2 million cases of Adverse Drug Reactions (ADRs) are reported every year, out of which there are approximately 100,000 deaths. According to FDA, it is also estimated that each year over 350,000 ADRs occur in U.S nursing homes alone. With such increasing cases of ADRs being reported in every corner of the globe, there is averseness among population for the adoption of drugs, which is acting as a major restraint for the urinary tract infection therapeutics market.
Additionally, lack of awareness about the prevalence of UTI in developing and underdeveloped nations is restraining the growth of the market.
North America to Dominate the Market
The Urinary Tract Infection Therapeutics market is segmented by Drug type, Indication type and geography. By geography it is segmented into North America, Europe, Asia-Pacific, the Middle East and Africa and South America.
North America dominates the urinary tract infection therapeutics market due to high UTI detection along with increasing diabetes prevalence in the region. Europe is also expected to boost the UTI therapeutics market owing to increased accessibility to healthcare facilities along with high UTI prevalence among the population.
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Reasons to Purchase Urinary Tract Infection Therapeutics Market Report:
- Identification of key factors instrumental in changing the market scenario, exploiting new opportunities, and gaining a competitive edge.
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