As per the report published by The Brainy Insights, the global overactive bladder treatment market is expected to grow from USD 3.20 billion in 2022 to USD 4.69 billion by 2032, at a CAGR of 3.90% during the forecast period 2023-2032. North American region emerged as the largest global overactive bladder treatment market, with a 47.38% market revenue share in 2022. The suitable reimbursement scenarios for the treatment of overactive bladder and the rising prevalence rate propel the market’s growth in this region. Furthermore, the increase in research activities fuel, as well as the rise in the introduction of new components of exogenous markers, are anticipated to drive market growth in this region. In addition, the Asia Pacific region is expected to show the fastest CAGR growth over the projection period due to the availability of numerous healthcare coverage systems.
The demand for overactive bladder (OAB) treatment is expected to grow due to the increasing prevalence of OAB among the aging population, rising healthcare expenditure, and technological advancements in the development of effective OAB treatments. According to the National Association for Continence, an estimated 33 million Americans have OAB, and the prevalence is expected to increase further in the coming years. This has led to an increase in demand for OAB treatments, including medications, nerve stimulation devices, and surgeries. Additionally, the growing awareness about OAB and the availability of treatment options have also contributed to the rising demand for OAB treatment. Overall, the OAB treatment market is expected to grow at a significant rate in the coming years. Leading companies in the industry include Cogentix Medical, Inc., Pfizer, Inc., Astellas Pharma Inc., Teva Pharmaceutical, Endo International Plc., Allergan, Plc., Aurobindo Pharma Limited, Hisamitsu Pharmaceutical Co., Inc., Intas Pharmaceuticals Ltd., Mylan N.V., Johnson & Johnson, Medtronic PLC, Macleods Pharmaceuticals Ltd., Sanofi S. A., Apotex Inc., and among others which are offering greater opportunities and are continuously focused on new product developments and venture capital investments to obtain market share.
The disease type segment is divided into neurogenic bladder overactivity and idiopathic bladder overactivity. The idiopathic bladder overactivity segment led the market with a market share of 56.11% in 2022. This growth is attributed to the increasing prevalence of major diseases. The pharmacotherapy segment is divided into solifenacin, anticholinergics, darifenacin, trospium, oxybutynin, fesoterodine, tolterodine, and others. The anticholinergics segment led the market with a market share of 21.19% in 2022. This growth is attributed to the growing competition among the market players. Additionally, the increasing population of older adults worldwide is also helping to boost the segment’s market growth.
Increasing research and development initiatives and expanding COVID-19 disease rate associated with overactive bladder symptoms are helping to drive the overactive bladder treatment market’s growth. Further, the strategic initiatives taken by the market players, along with the rising burden of OAB, are helping to stimulate the overactive bladder treatment market growth during the forecast period. Additionally, the rising awareness about treatment options available, coupled with the increasing prevalence of overactive bladder in the geriatric population, is also helping to boost market growth over the forecast period.
Browse from Similar Category – https://techbullion.com/telemedicine-market-foresees-growth-due-to-innovative-advancement/