Emerging Trends and Growth Opportunities in the Global Overactive Bladder Treatment Market
The global overactive bladder treatment market is expected to reach USD 4.2 billion by 2027, showing a compound annual growth rate (CAGR) of 3.6% during the forecast period. This growth can be attributed to several factors, including the increasing prevalence of overactive bladder syndrome worldwide. Additionally, the launch of novel drugs with fewer side effects and the adoption of technologically advanced treatment options are expected to drive market growth in the coming years.
The overactive bladder treatment market is characterized by fragmentation and intense competition, with numerous market players adopting strategies to sustain their competitive edge. These companies offer a wide range of drugs, devices, and botox treatments, which have a broad geographic reach and high product flexibility. Prominent players in the global market include Astellas Pharma, Teva Pharmaceutical Industries, Pfizer, Medtronic, AbbVie, Viatris, Hisamitsu Pharmaceutical, Johnson & Johnson Services, Endo Pharmaceuticals, among others.
ASTELLAS PHARMA (JAPAN)
Astellas Pharma is a multinational pharmaceutical company based in Japan. It was formed through the merger of Yamanouchi Pharmaceutical Co. and Fujisawa Pharmaceutical Co. The company is engaged in research, development, manufacturing, import, and export of pharmaceutical products. Astellas Pharma is one of the leading players in the global overactive bladder treatment market. It offers two major drugs, namely Betanis/Myrbetriq/BETMIGA and VESIcare. Myrbetriq is one of the most commonly prescribed medications for overactive bladder disorders. Astellas Pharma has research and development facilities in Japan, Europe, and other countries across the Asia Pacific region. The company operates in more than 70 countries worldwide.
PFIZER (US)
Pfizer is a leading global pharmaceutical company known for developing medicines across a wide range of therapeutic areas, including metabolic and cardiovascular diseases, inflammation and immunology, neuroscience and pain, oncology, rare diseases, and vaccines. The company operates through three distinct business segments: Biopharma, Pfizer CentreOne, and Consumer Healthcare. In July 2019, Pfizer's Consumer Healthcare business, which includes OTC medicines, merged with GSK's Consumer Healthcare business to form a new Consumer Healthcare joint venture.
The product TOVIAZ falls under the Internal Medicine segment of Pfizer's Biopharma business. The company markets its product Detrol through Viatris. Viatris was established in 2020 as a result of the combination of Mylan and Upjohn, a legacy division of Pfizer.
ABBVIE INC. (US)
AbbVie is a diversified research-based biopharmaceutical company with a comprehensive product portfolio that includes leadership positions across various therapeutic areas such as immunology, hematologic oncology, neuroscience, aesthetics, and eye care. In May 2020, the company acquired Allergan plc, an American global pharmaceutical company focused on eye care, neurosciences, medical dermatology, medical aesthetics, breast enhancement, obesity intervention, and urology. Allergan provides BOTOX therapeutics, including Vraylar and Ubrelvy. AbbVie offers Enablex, extended-release tablets for overactive bladder treatment.
AbbVie operates through a single business segment, and its products are sold worldwide to wholesalers, distributors, government agencies, healthcare facilities, specialty pharmacies, and independent retailers from AbbVie-owned distribution centers and public warehouses. The company serves customers in more than 100 countries worldwide.
In conclusion, the global market for overactive bladder treatment is expected to witness steady growth, driven by factors such as the rising prevalence of the condition, the launch of innovative drugs with improved side-effect profiles, and the adoption of advanced treatment options. Key players like Astellas Pharma, Pfizer, and AbbVie play a significant role in the market, offering a range of products to cater to the diverse needs of patients worldwide.
Related Links
https://www.marketsandmarkets.com/Market-Reports/overactive-bladder-treatment-market-219938791.html
https://www.marketsandmarkets.com/ResearchInsight/overactive-bladder-treatment-market.asp
https://www.marketsandmarkets.com/PressReleases/overactive-bladder-treatment.asp