The increasing prevalence of urinary tract infection (UTI) and growth in the number of prescription of quinolones antibiotics is expected to fuel the growth of the urinary tract infection treatment market. According to a new study published by Future Market Insights (FMI), the global urinary tract infection treatment market revenues will grow at a mere 2% CAGR between 2019 and 2029.
Launch of New Antibiotics for Bacterial Infections to Sustain Revenues
Increase in the number of research and development initiatives for the developing novel therapeutics has led to the launch of new drugs into the urinary tract infection treatment market. Manufacturers are currently focusing on expanding their pipeline portfolio for the treatment of bacterial infections. Moreover, regulatory bodies such as FDA have accelerated the approval process of drugs.
Recently, in August 2018, Melinta Therapeutics announced the launch of Vabomere (meropenem and vaborbactam) for patients who require treatment for complicated urinary tract infection. Similarly, one more drug has been approved by FDA in June 2018, Zemdri by Achaogen, Inc., for the treatment of adults suffering from Complicated Urinary Tract Infection (cUTI). Increase in the launch and approval of novel therapeutics for the treatment of bacterial infections is expected to contribute to the growth of the urinary tract infection treatment market.
Quinolones, the broad spectrum antibiotics effective against a wide range of bacterial disease, have bactericidal activity that enables them to penetrate deep into the tissue. Their excellent bioavailability is a plus point. In addition, they have favourable tolerability and safety profile. Moreover, they have significant antimicrobial activity. Thus, quinolones are most preferred for the treatment of urinary tract infection. Some of the widely used quinolones for the prevention of bacterial infection include ciprofloxacin (Cipro), ofloxacin (Floxin), norfloxacin (Noroxin), and others. Quinolones are mostly favored over trimethoprim-sulfamethoxazole (TMP-SMX) for the treatment of uncomplicated urinary tract infections owing to the increasing resistance of bacteria towards antibiotics such as trimethoprim-sulfamethoxazole, beta lactam antibiotics, and others.
For More Detailed Insights on Urinary Tract Infections Market
Europe Remains Major Revenue Contributor
Europe holds a considerable revenue share in the UTI treatment market. The rising prevalence of urinary tract infection among the population and increasing hospital visits are among factors that are likely to propel the growth of the urinary tract infection treatment market. It is estimated that the urinary tract infection treatment market will create an incremental $ opportunity worth nearly US$ 9 Mn between 2019 and 2029. Quinolones is anticipated to boost the growth of the urinary tract infection treatment market owing to the increasing prescription and high effectivity as antimicrobial antibiotics.
Demand from Retail Pharmacies to Register High Growth
The global urinary tract infection treatment market has been segmented on the basis of drug class, indication, and distribution channel. On the basis of drug class, the urinary tract infection treatment market has been segmented into Penicillin & Combinations, Quinolones, Cephalosporin, Aminoglycoside Antibiotics, Sulphonamides (Sulfamethoxazole +Trimethoprim), Azoles and Amphotericin B, Tetracycline (Doxycycline), Nitrofurans (Nitrofurantoin), and others. In terms of revenue, the quinolones segment is expected to hold a major share of the urinary tract infection treatment market during the forecast period since it is widely prescribed and has proven to be safe and effective for antimicrobial use.
Based on indication, the urinary tract infection treatment market has been segmented into complicated urinary tract infection and uncomplicated urinary tract infection. On the basis of distribution channel, the urinary tract infection treatment market has been categorised into hospital pharmacies, gynaecology & urology clinics, drug stores, retail pharmacies, and online drug stores. The retail pharmacies segment is expected to exhibit high revenue growth in the urinary tract infection treatment market owing to the easy availability of antibiotics.
Key Companies in Urinary Tract Infection Treatment Market
The report studies some of the key companies operating in the urinary tract infection treatment market, such as Bayer AG, GlaxoSmithKline Pharmaceuticals Ltd., Pfizer, Allergan Plc, Almirall SA, Bristol-Myers Squibb, and Merck & Co., Inc. For more insights on the competitive landscape and other facets shaping the growth of UTI treatment market, write in to firstname.lastname@example.org
Future Market Insights (FMI) is the premier provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India. FMI’s research and consulting services help businesses around the globe navigate the challenges in a rapidly evolving marketplace, with confidence and clarity. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. We continuously track emerging trends and events in a broad range of end industries to ensure that our clients prepare for the evolving needs of their consumers.