Genitourinary tract agents are medicines used to treat conditions of reproductive organs and excretory system or urinary tract. They include medicines used for bladder spasms, urinary pH modifiers, medicines for erectile dysfunction in men, and medicines that suppress uterine contractions to prevent preterm labor. Types of genitourinary drugs includeimpotence agents, miscellaneous genitourinary tract agents, tocolytic agents, urinary antispasmodics, urinary pH modifiers, and uterotonic agents. Alpha-blockers relax smooth muscles in benign prostatic hyperplasia producing an increase in urinary flow rate and improvement in obstructive symptoms.Alpha-blockers are the treatment of choice for benign prostatic obstruction, and are likely to provide symptom relief in men with prostates of any size.
Pharmaceutical and biotechnological companies together with governments around the globe are working to combat the COVID-19 outbreak. This is carried out by supporting development of vaccines to schedule for medicines supply chain challenges. Furthermore, there are around 115 vaccine candidates and other 155 molecules that are in the R&D pipeline. Moreover, commonly used drugs such as Hydroxychloroquine have seen huge boost in demand for management of COVID-19. There is an increase in demand for the drug, which has presented huge opportunities for manufacturers of COVID-19 management drugs, as many developed countries are short of the drug. Hence, owing to the demand for vaccine and treatment drugs for COVID-19, the pharmaceutical and biotechnology industry is anticipated to witness a substantial growth in the next few years.
Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
Surge in prevalence of genitourinary disorders is expected to boost the industry during the forecast period.Increase in number of pipeline drugs for genitourinary disorder is also expected to propel the market growth in coming years.Furthermore, surge in number of generics launched by big pharmaceutical companies as well as small and medium-sized drug manufacturers are anticipated to help the industry gain higher revenue in the next few years.
Growth in number of product launches to boost the market
Growth in number of product launches is expected to help the industry flourish during the forecast period. For instance,in November 2019,the FDA approved cefiderocol (FETROJA) in patients of 18 years of age or older who have limited or no alternative treatment options, for complicated urinary tract infections (cUTI), including pyelonephritis, caused by susceptible Gram-negative microorganisms such as Escherichia coli, Klebsiella pneumoniae, Proteus mirabilis, Pseudomonas aeruginosa, and Enterobacter cloacae complex.
Surge in number of mergers and acquisitions to propel the market
Increase in number of mergers and acquisitions is anticipated to help the industrygrow in the coming years. For instance, in June 2019, AbbVie Inc. agreed to pay $63 billion for rival drugmaker Allergan Plc, the latest merger in an industry where some of the biggest companies have been willing to pay a big premium to resolve questions about their growth prospects. As these two companies are merging, the product line consisting of the drugs for treatment of genitourinary diseases would gain greater distribution channel and hence be beneficial for the marketgrowthduring the forecast period.
Key benefits of the report:
- This study presents the analytical depiction of the global genitourinary drugs industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global genitourinary drugs market share.
- The current market is quantitatively analyzed to highlight the global genitourinary drugs market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the genitourinary drugsmarket.
- The report provides a detailed global genitourinary drugs market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the genitourinary drugs market research report:
- Which are the leading market players active in the genitourinary drugs market?
- What would be the detailed impact of COVID-19 on the market?
- What current trends would influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the genitourinary drugs market?
- What are the projections for the future that would help in taking further strategic steps?
Genitourinary Drugs Market Report Highlights
Key Market Players
Genentech, Inc.,, AstraZeneca, Abbott,, Eli Lilly and Company,, F. Hoffmann-La Roche Ltd,, Bristol-Myers Squibb Co.,, Novartis AG,, Ionis Pharmaceuticals, Inc.,, Merck & Co., Inc.,, Pfizer, Inc.