The growing prevalence of genitourinary disorders and increasing number of pipeline drugs are expected to widen the market growth, globally. In addition, the rising disposable incomes and constant improvements in healthcare infrastructure, increase in investments in R&D activities in developing novel molecules for the treatment of genitourinary diseases, and the increasing number of pipeline drugs are also expected to drive the market, during the forecast period.
However, an increasing number of counterfeit drugs and lack of awareness about the infections and drugs for the treatment are going to restrain the market for genitourinary drugs.
Key Market Trends
Urinary Tract Infections are Expected to Dominate the Genitourinary Drugs Market
As there is an increase in the incidence of urinary tract infections, the demand for genitourinary drugs increases, which, in turn helps in driving the overall market. Furthermore, the launch of combination drugs, development, and approval of new drugs, which are more efficient, and the increasing geriatric population are also expected to boost the growth of the urinary tract infection segment in the global genitourinary drugs market.
Additionally, the genitourinary drugs market is also expected to gain from increasing incidences of urinary diseases and related illness that are sexually transmitted. Moreover, rising concerns about urinary incontinence and impotency as well as technological advancements in genitourinary devices are anticipated to accentuate the growth of the global genitourinary drugs market over the forecast period.
Asia Pacific is Expected to be the Fastest Growing Region During the Forecasted Period
Asia is expected to experience a high growth rate in the genitourinary drugs market in the next few years, due to rise in genitourinary disease cases, growing need for improved treatments and therapies of genitourinary diseases, increasing awareness about genitourinary diseases, rise in health care expenditure, and developing health care infrastructure in the region. Growing demographics and economies in the developing countries, such as India and China, are expected to lead to the rise of the genitourinary drugs market in the Asia-Pacific region.
Major market players are found investing high capitals on R&D and generating many strategies, such as new product launches and developments, geographical expansions, collaborations, and acquisitions to strengthen their market position in the global genitourinary drugs market.
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